Our weekly roundup of news from East Asia curates the industry’s most important developments. Yet another crypto scandal in Hong Kong Scammers posing as investment experts allegedly enticed 145 victims to tip $18.9 million into the unlicensed Hong Kong crypto exchange Hounax. According to reports earlier this week, the police said investors were allegedly promised
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The cryptocurrency industry has now seen its most “damaging” month for crypto thievery, scams, and exploits, with crypto criminals walking away with $363 million in November, according to a blockchain security firm. Around $316.4 million came from exploits alone, flash loans inflicted $45.5 million in damage, and $1.1 million was lost to various exit scams,
Business intelligence firm MicroStrategy purchased 16,130 Bitcoin (BTC) in November, bringing its total holdings to more than $6 billion. In a Nov. 30 announcement, MicroStrategy co-founder Michael Saylor said the company acquired the BTC for roughly $593.3 million — a price of $36,785 per Bitcoin. As of Nov. 29, MicroStrategy reported it held 174,530 BTC
USDC stablecoin issuer Circle has denied claims of illicit financing and ties to Tron founder Justin Sun, according to an open letter accessed from Circle’s blog on Nov. 30. A non-profit watchdog group previously accused Circle of having ties to Sun. Circle open letter to U.S. senators Elizabeth Warren and Sherrod Brown. Source: Circle. The
Kristin Johnson of the United States Commodity Futures Trading Commission (CFTC) said there are many ways of handling cryptocurrencies in the country, but legislating through courts could provide a solid, if slow, path. Speaking at the Blockchain Association’s Policy Summit in Washington, D.C. on Nov. 30, Johnson said the “best outcome” for corporate governance of
We’re rolling out one genuine use case for AI and crypto each day this week — including reasons why you shouldn’t necessarily believe the hype. Today: How blockchain can fight the fakes. Generative AI is extremely good at generating fake photos, fake letters, fake bills, fake conversations — fake everything. Near co-founder Illia Polosukhin warns
Pudgy Penguins minted in July 2021, but quickly saw high drama after its former founder came under suspicion he was going to rug the project. A few months later Luca Schnetzler stepped in. With an entrepreneurial streak since his early teens he had a history of building internet businesses and bought the project and its
The cryptocurrency mining platform AntPool released an update on Nov. 30, saying it will refund the transaction fee of 83 Bitcoin (BTC). It said its risk control system temporarily froze the fee when packaging the transaction, and therefore after the affected user verifies their identity, it will refund the fee. The affected user has until
Spanish fin-serv giant Banco Santander has reportedly selected digital asset management firm Taurus to safeguard its Swiss clients’ Bitcoin (BTC) and Ether (ETH). On Nov. 20, Santander Private Banking International’s Swiss private banking unit rolled out a new Bitcoin and Ether trading service for clients with Swiss accounts. A Santander spokesperson told Cointelegraph that clients
Binance’s $4.3 billion settlement with the United States Department of Justice (DOJ) is being hailed as a positive move for the company and the wider cryptocurrency industry, according to Galaxy Digital’s Mike Novogratz. In an interview with Bloomberg on Nov. 29, the CEO of the cryptocurrency investment firm expressed his belief that the high-profile settlement should assuage
The Ripple battle with the United States Securities and Exchange Commission (SEC) over the security status of the XRP token is yet to come to an end even after multiple partial victories. In an effort to end the three-year-long battle, the court has ordered that both parties consider a settlement and work out the terms
Swiss asset manager Pando Asset has become an unexpected late entrant into the spot Bitcoin (BTC) exchange-traded fund (ETF) race in the United States. On the same day, investment giant BlackRock met with the country’s securities regulator to pitch an updated ETF model based on the agency’s feedback. On Nov. 29, Pando submitted a Form
Bitcoin (BTC) is trying to sustain above the overhead resistance of $38,000 for the second consecutive day and start the next leg of the uptrend. The excitement among market observers may have increased after the United States Securities and Exchange Commission (SEC) delayed its decision on the applications of Franklin Templeton and Hashdex exchange-traded funds.
Brazilians may soon be required to pay up to 15% tax on income derived from cryptocurrencies held on exchanges outside the country, after new income tax rules were approved by the Brazil Senate on Nov. 29. The bill has already passed in the Chamber of Deputies and is expected to be approved by President Luiz
Outrage = ChatGPT + racial slurs In one of those storms in a teacup that’s impossible to imagine occurring before the invention of Twitter, social media users got very upset that ChatGPT refused to say racial slurs even after being given a very good, but entirely hypothetical and totally unrealistic, reason. User TedFrank posed a
Bankrupt crypto exchange FTX has been given the green light to sell around $873 million of trust assets, with proceeds used to repay creditors impacted by the exchange’s collapse in 2022, according to a Nov. 29 filing in a Delaware bankruptcy court. The $873 million in assets will be sourced from FTX’s stakes in various
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