Author - James Lim
01Apr

FTX founder receives 25-year jail sentence, SEC seeks $2b from Ripple, Bitcoin reclaims $70k | Weekly Recap

Last week saw significant legal developments across the cryptocurrency sector, including Sam Bankman-Fried’s sentencing, regulators’ demanding $2 billion from Ripple, and an indictment against KuCoin. Concurrently, Bitcoin (BTC) reclaimed $70,000 as spot BTC ETFs recorded inflows. FTX founder sentenced to 25 years FTX founder Sam Bankman-Fried received a 25-year sentence in prison. Shortly before the sentencing, the U.S. Department...

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01Apr

Telegram rolls out TON-based revenue sharing system

The Telegram messenger has unveiled a new revenue sharing system that allows channels’ owners to get 50% of revenue from ads displayed on their channels. In a blog post on Mar. 31, Telegram announced the launch of a new revenue sharing program that aims to bolster its platform’s appeal to content creators. Described as the “most generous reward systems in the...

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30Mar

Ethena Labs reportedly suffers from security incident, analysts suspect $290k exploit

PeckShield analysts reported a security incident with the Ethena Labs project on March 29. Experts say the vulnerability underlying the exploit is still unknown. According to PeckShield, it resulted in the loss of 480 BNB, equivalent to around $290,000 at the time of writing. In a comment to the post, X users suggested that the incident was...

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30Mar

Arrow Markets launches crypto options trading platform for non-US markets

Arrow Markets has launched a new platform for trading non-U.S. crypto options, aiming to simplify the trading process for users internationally. The initiative seeks to fill a gap in the market, akin to the role Robinhood plays in the U.S. for stock options trading, but focusing on the defi sector. Supported by Framework Ventures, Delphi Ventures, and Blizzard the...

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30Mar

Crypto industry losses to hacking decreased by 23% in Q1

In the first quarter of the year, the crypto industry lost $336.3 million to hacking, 23.1% less than last year. According to the Immunefi report, in the first three months of 2024, crypto projects lost more than $321 million due to 46 hacks and 15 fraudulent incidents. Decentralized finance (defi) is a prime target for hackers, accounting for 100%...

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30Mar

IntoTheBlock: Meme coin investors catch speculative mood

IntoTheBlock experts note a meme coin speculative sentiment increase amid the ongoing bull market. According to the latest IntoTheBlock report, traders increasingly turn to speculative opportunities promising high returns. The trend is evident throughout the meme coin sector, as seen in the emergence of new meme coins and the resurgence of older ones gaining popularity again. Analysts...

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30Mar

Prisma Finance hacker sends $6.5m in ETH to Tornado Cash

PeckShield reported the movement of assets from addresses related to the hacking of the Prisma Finance protocol. Analysts tracked the movement of funds in wallets involved in the criminal operation. Through two transactions, the hacker sent 1,840 Ethereum (ETH) worth about $6.5 million to the Tornado Cash mixer. After some time, experts noted that the attacker sent a message...

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30Mar

Arbitrum Foundation opens phase three funding for dApps

The Arbitrum Foundation has officially opened applications for the third phase of its funding plan, which will run from April 15 to the end of June. The phase aims to support dApp projects across various domains, including games, NFTs, social platforms, DAOs, and defi applications. The foundation is adopting a more structured approach by introducing grant tracks,...

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30Mar

CFTC Commissioner hints at overreach on KuCoin charges

Caroline Pham, a CFTC commissioner, has publicly criticized her agency’s legal action against the crypto exchange KuCoin. The Commodity Futures Trading Commission, in collaboration with the U.S. Department of Justice, charged KuCoin on March 26 for unlawfully operating a digital assets derivatives exchange. The charge by the CFTC has sparked controversy, particularly regarding jurisdictional boundaries between the CFTC and its sister...

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30Mar

Bitcoin futures open interest hits record $36b before options expiry

Bitcoin futures open interest surged to over $38 billion today, as BTC price increased 10% over the week. The surge reflects growing investor interest and speculative activity around Bitcoin’s future price movements. Binance, the world’s leading cryptocurrency exchange, reported its highest BTC open interest to date, at $8.4 billion. Record-setting open interest in Bitcoin futures comes as $15.1 billion...

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