Hackers Steal $266M from Crypto in July
? In July 2024, the crypto sector lost $266M to attacks, a 51% increase from June. Major breaches: $230M at @WazirXIndia, $24M at Compound Finance, $9.73M at LI.FI, and $8M at Bittensor. #Cybersecurity #Update
WUSD Stablecoin Gains Mainstream Adoption
WSPN partners with Canza Finance to launch the WUSD stablecoin in Africa, enhancing financial inclusion with blockchain-based services. The WUSD, pegged to the USD, ensures stable transactions and fights currency devaluation. #Update #CryptoNews #DeFi
Grayscale Unveils Decentralized AI Crypto Fund
Grayscale launches a new fund focused on decentralized AI projects, including $Bittensor, $Filecoin, and $NEAR. This strategic move aims to capitalize on the growing AI market, projected to exceed $826 billion by 2030. #Update #Crypto #AI
Telegram Unveils Browser and Mini-App Store
Telegram launches a new browser and mini-app store, integrating Web3 functionalities for nearly 1 billion users. The update includes a seamless switch between browsing and messaging, enhanced in-app transactions, and an “Apps” tab for popular mini-apps. #Update
Azerbaijan Delays CBDC Over Monetary Policy Concerns
? The Central Bank of Azerbaijan will not issue a central bank digital currency (CBDC) due to concerns over monetary policy and financial stability, says Governor Taleh Kazimov. Azerbaijan is closely observing global CBDC developments first. #Update #FinancialStability
Nomic Osmosis Waive BTC Bridging Fees
Nomic and @osmosiszone waive BTC bridging fees in a historic DAO partnership, enhancing crypto bridge revenue models. Nomic gets 10% of taker fees for nBTC trades. Capacity capped at 21 BTC, with a 1% deposit fee. #CryptoNews #Update
South Korea Crypto Exchanges Face Fees
South Korea mandates new supervisory fees on crypto exchanges like @UpbitGlobal, @BithumbOfficial, and Coinone under the Virtual Asset User Protection Act. Larger exchanges will pay up to $199,592, while smaller ones face potential struggles. #CryptoRegulation
Bitcoin Endorsed by Tucker Carlson at Conference
Tucker Carlson supports #Bitcoin at Bitcoin 2024, critiquing government control over finances and promoting Bitcoin as a global payment system. He humorously speculated about CIA’s involvement, highlighting Bitcoin’s potential to enhance financial freedom. #Update
SEC Lawsuit’s Ripple Effect on Binance Crypto
The SEC revised its lawsuit against @Binance, removing the need to classify certain tokens as securities. This shift may alter digital asset regulations. The SEC’s stance and upcoming elections could impact future crypto laws. #CryptoRegulation
DeFi TVL Skyrockets 72% to $94 Billion
DeFi sees a 72.8% surge in TVL to $94.1B in six months, driven by market upticks, institutional inflows post-spot Bitcoin ETF approval, and Layer 2 growth. Bitcoin hit an ATH above $73K, now at $67,235. #DeFi #Update
Polygon Replacing MATIC with New POL Token
Polygon to replace $MATIC with innovative $POL token in September. No immediate upgrade deadline for holders, but community may set one. POL aims to enhance network utility and scalability. Migration progress currently at 0.1%. #Update #CryptoNews
Binance Invests in Groundbreaking Particle Network Blockchain
Binance Labs invests in Particle Network to enhance Web3 user experience and liquidity. The project features Universal Accounts for multi-blockchain asset management and plans a mainnet launch in Q2 2025. #Update #Web3 #Blockchain
Crypto Exchanges Fined $220k by Korean Regulator
South Korea will impose a $220,000 supervisory fee on domestic crypto exchanges, including @Official_Upbit and @BithumbOfficial, starting next year under the “Virtual Asset User Protection Act.” Exchanges must keep 80% of users’ assets in cold storage. #CryptoRegulation
Polkadot Transactions Surge Despite DOT Low
Polkadot’s ecosystem saw a 33% rise in transactions in June, hitting 16M from 12M in May, despite $DOT reaching a 7-month low. Unique addresses rose to 7M+, and OpenGov proposals increased by 66%. #Update #Polkadot