Author - James Lim
20Apr

Bitcoin ransomware defrauds over 250 companies for $42m

Federal Bureau of Investigation officials warn the public about the spread of Akira ransomware. According to an FBI statement, Akira Bitcoin (BTC) ransomware caused multi-million dollar losses to various companies and organizations in North America, Europe, and Australia. Malicious software gains access to enterprise infrastructure through a VPN, accessing software without multi-factor authentication. Akira then steals confidential data and...

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20Apr

Grayscale’s Bitcoin ETF hits $1.6b outflows hours before halving

Grayscale’s spot Bitcoin ETF continued a five-day outflow sprint leading to the halving, a code change that occurs every four years to help maintain BTC scarcity. Data gathered by SoSoValue showed $89.9 million in Grayscale exits, bringing GBTC’s total net outflows to $1.6 billion since trading opened back in January. For all 10 spot Bitcoin (BTC) ETFs, cumulative outflows...

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19Apr

Binance converts assets of its SAFU insurance fund into Circle’s USDC

Crypto exchange Binance has made a notable reorganizational move for its billion-dollar SAFU insurance fund, with all the assets in it converting into the USDC stablecoin. Binance has announced a sudden update for its emergency insurance fund called SAFU, converting all of the assets in it — around $1 billion — into Circle’s stablecoin USD Coin...

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19Apr

Ex-Coinbase global expansion lead joins a16z-backed Matter Labs as president

Nana Murugesan, the ex-Coinbase executive responsible for international expansion, has joined Matter Labs as president to drive the growth of the zkSync technology. A former executive at Coinbase Global, Nana Murugesan, who was responsible for spearheading the exchange’s global expansion initiatives, has joined Matter Labs, the developer of the zkSync technology, as the inaugural president. In an interview with Bloomberg, Murugesan expressed his...

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19Apr

Token2024: Ava Labs CEO says Avalanche was ‘never ever’ marketed as ETH killer

Emin Gün Sirer of Ava Labs says Avalanche was never marketed as an “Ethereum killer,” stressing though its ability to deploy independent blockchains, unlike Ethereum. The head of Ava Labs, Emin Gün Sirer, says Avalanche “was never ever” designed to be an “Ethereum killer,” adding that the definition was developed by marketing managers at Consensys, a blockchain tech firm...

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19Apr

Arkansas State House passes bills to limit cryptocurrency mining

The Arkansas State House has approved two bills that could see a ban on crypto mining activities within the state. At present, the bills are still under consideration and have yet to progress to full-fledged legislation; they establish the framework for further discussions leading to potential legislation. On April 17, senators held a Senate hearing to discuss general concerns...

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19Apr

Binance announces token drop platform Megadrop after securing Dubai VASP license

Leading crypto exchange, Binance has announced a new airdrop and web3 quest platform dubbed Megadrop. Announced on April 18, Megadrop is primarily a token launch platform that will host airdrops and Web3 quests by integrating the Binance Simple Earn program and the Binance Web3 Wallet. The goal, per Binance, is to make the airdrop experience more engaging for...

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19Apr

Binance eyes return to India as an FIU-compliant platform

Binance is eyeing a comeback to India following a 4-month ban placed on the exchange by the nation’s Financial Intelligence Unit (FIU). Two sources familiar with the development claim that the exchange has agreed to pay a $2 million penalty to the regulator for non-compliance. However, they did not confirm how the fine has been calculated. India, according to a...

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19Apr

Tether to restructure, expand beyond stablecoin sector

Tether announced a reorganization to expand into other areas besides stablecoins. Tether has announced reorganizing its structure into four divisions and a new vision to expand beyond the stablecoin sector. According to a press release, the issuer of USDT stablecoin intends to expand its influence in the web3 industry significantly. According to available information, four new divisions will operate within the updated...

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19Apr

Token2049 panelists discuss meme coins’ role in crypto industry development

Participants of the Token2049 conference examined trends in consumer web3 applications, noting the growing role of meme coins. During the Emerging Trends in Consumer web3 Apps panel at Token2049 in Dubai, speakers discussed tokenizing user attention and the role of meme coins in this development. Imran Khan from AllianceDAO noted that a new direction is emerging in the blockchain industry today —attention tokenization,...

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