Arnold Kirimi 
Poly Network, a prominent cross-chain bridge platform, finds itself in turmoil once again as it grapples with the aftermath of a colossal hack that resulted in the creation of billions of tokens. Quick facts: Attackers compromised the platform’s private keys, enabling them to exploit a vulnerability and issue tokens across multiple chains. As a result, … Read more
In a move to rectify a perceived rug pull, AzukiDAO has successfully passed a proposal to reclaim 20,000 ETH from Azuki founder Zagabond. AzukiDAO has taken decisive steps to tackle the issue head-on, opting to hire a lawyer and pursue a legal case against Zagabond. Quick facts: The decentralized autonomous organization (DAO) initiated the proposal, which … Read more
MicroStrategy, the leading business intelligence firm headed by Michael Saylor, has further strengthened its position in the world of cryptocurrency by acquiring Bitcoin worth a staggering $347 million. This latest purchase marks a significant milestone in MicroStrategy’s ongoing efforts to expand its crypto holdings. Quick facts: The company’s commitment to Bitcoin is evident in its … Read more
Israeli security agencies have successfully exposed a route for financing terrorism through digital currencies. The operation, a first of its kind, led to the seizure of $1.7 million from crypto accounts linked to Iran’s Quds Force and the Hezbollah terrorist organization. Quick facts: The meticulous operation was made possible through the use of innovative blockchain … Read more
In a move that further validates the growing interest in cryptocurrency, asset manager Fidelity is set to file for a spot Bitcoin exchange-traded fund (ETF). Joining the ranks of other major players in the financial industry, Fidelity’s decision underscores the increasing demand for regulated investment vehicles tied to digital assets. Quick facts: According to a … Read more
The U.K. Law Commission, an independent body funded by the Ministry of Justice, has unveiled a groundbreaking recommendation that could revolutionize the use of cryptocurrency as collateral in the country. Quick facts: The proposal involves the creation of a tailored legal framework specifically designed to address the unique challenges and requirements associated with crypto assets. … Read more
In a move to address the growing influence of cryptocurrencies in the traditional financial sector, EU lawmakers have reached a consensus on the implementation of capital requirements for banks that hold crypto assets. Quick facts: The decision comes as part of a transitional prudential regime aimed at ensuring the stability of the financial system while … Read more
In a major breakthrough, the ongoing debt recovery efforts by FTX, a prominent cryptocurrency exchange, have resulted in the retrieval of approximately $7 billion in liquid assets, as revealed in a recent investigative report. While this represents a significant milestone in addressing the exchange’s outstanding debt, it still falls short of the substantial $8.7 billion … Read more
Former executives of FTX, a well-known cryptocurrency exchange, have faced allegations of channeling funds toward ventures unrelated to their core business. Among these ventures is the notable “Pineapple House,” an extravagant expenditure amounting to an astonishing $1.8 million. Quick facts: The allegations, outlined in an investigative report by FTX restructuring chief and CEO John Ray, … Read more
In the latest blow to Binance, the world’s largest cryptocurrency exchange by trading volume, its European expansion campaign faces increasing hurdles as the company struggles to obtain licenses in a number of countries. Quick facts: Binance has reportedly withdrawn its application for registration with the Austrian Financial Market Authority (FMA). According to FinanceFWD, a German … Read more