North Korean government-backed hackers are becoming more sophisticated, more precise and now account for more than 76% or nearly $600 million in crypto losses this year alone. The $285 Drift Protocol exploit, for example, involved what TRMLabs describes as a long and “unprecedented in-person social engineering” attack. It included months of in-person meetings between North…
Latest developments: Banking groups want regulators to pump the brakes on the Genius Act rollout. Major U.S. banks have asked for extended public comment periods before full implementation. Agora CEO Nick van Eck said the move is “not much of a surprise,” calling the law one of the most significant in banking history Van Eck…
In today’s newsletter, Josh Olszewicz from Canary Capital introduces Sui blockchain and discusses its potential impact on Web3 adoption and optimization for consumer applications. Special alert: Are you going to Consensus Miami? Don’t miss the closed-door, Wealth Management Day on May 6. There is a special side event, dedicated to advisors. Attendance is complimentary for…
A U.S. Senate that’s struggled to move crypto market structure legislation moved like lightning on Thursday to ban themselves from participating in prediction markets. Acting on a simple, 14-line resolution pushed by Ohio Republican Senator Bernie Moreno, the Senate agreed unanimously to put a restriction between members and the increasingly popular, controversial betting platforms that…
Anchorage Digital, the U.S’ first federally chartered crypto bank, has tapped M0 as its core technology provider, a move designed to turn the custodian into a primary engine for institutions looking to mint and manage regulated stablecoins. San Francisico-based Anchorage seeks to expand its issuance platform through M0, and opens the door to a broad…
Crypto-based prediction market Polymarket has tapped blockchain analytics firm Chainalysis to monitor trading activity and enforce its market rules, as it works to address concerns about insider trading and market integrity. Chainalysis brings a suite of tools, including investigative software and onchain monitoring systems, to flag suspicious behavior, based on a model designed to identify…
Robinhood’s (HOOD) nearly 12% drop since its big earnings miss is being waived off by some big investors and Wall Street analysts. The popular trading platform missed its first-quarter earnings and revenue estimates on April 28, mainly due to weaker crypto trading activities. The market punished the stock on the miss, but Cathie Wood’s Ark…
Gemini Space Station (GEMI), the crypto exchange run by Cameron and Tyler Winklevoss, received U.S. Commodity Futures Trading Commission (CFTC) approval for a derivatives clearinghouse (DCO) license, allowing it to enter regulated derivatives and crypto’s fastest-growing, most-contested sector, prediction markets. The approval allows Gemini to clear and settle trades in-house instead of depending on external…
U.S. Secretary of Commerce Howard Lutnick, the former CEO of Cantor Fitzgerald that handles Tether’s finances in the U.S., has been questioned by Senate Democrats on reports that a trust tied to his children received a loan from Tether meant to help finance Lutnick’s divestiture of his company stake that went to his children. Senators…
A few weeks ago, abnormal temperature spikes at a Météo-France station near Paris-Charles de Gaulle (CDG) triggered a criminal complaint and an investigation. According to French media reports, the readings were linked to Polymarket bets that generated tens of thousands of dollars in gains. Whether the full mechanics are ultimately proven exactly as suspected is…
