.@WazirX faced backlash and dropped its “55/45” plan to distribute $230M hack losses among users. Users cited transparency issues. Security firm TruthLabs linked the hack to multi-signature contract flaws. #CryptoSecurity
Senator Cynthia Lummis’s Bitcoin reserve bill gains traction despite criticism. MicroStrategy plans to raise $2 billion for more Bitcoin investments, and crypto startups secure $107 million in venture capital this week. #Update #Bitcoin $BTC $MSTR
Rep. @RoKhanna will host a virtual roundtable on Aug. 5 with reps from @VP Kamala Harris’ campaign and crypto leaders, aiming to improve Democratic relations with the crypto sector. Notable attendees: Anita Dunn, Bruce Reed, Lael Brainard. #CryptoNews
$2.7B lost since May 2021 to approval phishing scams in crypto. In Sept 2023, one person lost $24.23M in staked ETH. Operation Spincaster finds 7,000+ leads, $162M total losses. Blockchain analytics aid law enforcement. #CryptoSecurity
Crypto startups raised $107.6M from July 28-Aug 3, led by @Morpho’s $50M round with @RibbitCapital, @a16z, and @CoinbaseVentures. @DuelNow secured $11M, and @DaylightDePIN raised $9M. Major push towards decentralization and innovation. #Update #CryptoNews
Global cryptocurrency owners hit 580M in late 2023, a 34% rise YTD. Regulatory measures like FATF’s Travel Rule aim to curb fraud by enforcing VASP transaction data sharing. Compliance providers support 1,700+ VASPs. #CryptoRegulation #Update
? Over 2,200 letters hit the U.S. Senate in 48 hours, urging support for the ‘Strategic Bitcoin Reserve’ bill by Sen. Cynthia Lummis. The bill aims to secure 1M Bitcoins as a hedge against inflation. Key supporters: @realDonaldTrump, @RobertKennedyJr, @KamalaHarris. #CryptoNews
In 2024, the crypto industry faces stricter regulations with FATF’s Travel Rule. VASPs must share transaction details to combat fraud, as 80% of targeted Americans lose money. Collaboration with compliance solutions like @SumsubCom is crucial. #CryptoSecurity
Meme sector booms as DeFi struggles. New memecoin Raboo (RABT) raises $2M in presale with 3,000 investors. Raboo uses AI to create engaging memes and offers 20% bonus in Stage 4 presale. $DOT dips, investors seek alternatives. #CryptoNews
Former President Trump suggests using Bitcoin to pay off the U.S.’s $35 trillion debt by giving Bitcoin to China. The U.S. holds 210,392 Bitcoin, worth $13.3B. Critics cite Bitcoin’s volatility as a major risk. #Bitcoin #Update
Genesis Global begins $4B creditor repayments post-restructuring. Over 100K creditors receive 64% average recovery: Bitcoin 51.28%, Ethereum 65.87%, Solana 29.58%. Stablecoin & USD creditors recover 100%. Major step in rebuilding trust. #CryptoNews
Monero ($XMR) surged nearly 5%, hitting over $164, making it the best-performing cryptocurrency among the top 100 by market cap in the last 24 hours. Despite regulatory hurdles, its adoption is growing with integrations like Cake Wallet. #CryptoNews #Update
Polyhedra Network’s V2 staking program saw over 6.9M ZKJ tokens staked in less than a month, hitting a $9M milestone with 1,688 unique stakers. The program offers weekly rewards and incentivizes long-term engagement. #Update #CryptoNews
NBA Hall of Famer @ScottiePippen recommits to his Ethereum-based BALL project despite backlash. Crypto sleuth ZachXBT links the project’s deployer address to past scams, and insiders control 15% of BALL’s supply. #Update #CryptoNews
