In an advanced communication dated November 23, the prominent Ethereum-powered decentralized exchange (DEX) KyberSwap was hit by a malicious attack. The announcement revealed that the attackers compromised the KyberSwap Elastic Pools Liquidity Solution (EPLS) to heist around $48 million. The Elastic pools…
The UK has announced new legislation that will provide support for the crypto sector in the country. UK Chancellor of the Exchequer Jeremy Hunt outlined 110 measures for growing the nation’s economy in a mini-budget announcement which includes plans to boost the…
Top crypto exchange Coinbase has accused the securities and exchange commission (SEC) of delaying action on the new crypto rules the exchange has proposed. Coinbase in a letter to the Court of Appeals argued that the Securities and Exchange Commission (SEC) has…
Top accounting firm KPMG through its Canadian arm has partnered with on-chain analysis firm Chainalysis to help organizations combat crypto-related fraud in the country. According to a statement, KPMG will be working with Chainalysis’ “Solution Provider” program, offering “rigorous monitoring, support, governance…
World’s largest crypto exchange, Binance has seen a massive outflow of assets following news that its CEO Changpeng “CZ” Zhao Was resigning after pleading guilty to criminal charges in the U.S. Data from DeFiLlama revealed that the exchange recorded a net outflow…
The departure of Sam Altman from OpenAI has exposed the tech company to potential career gaps as more employees threaten to step down. In a recent update, the OpenAI core team demanded the board to reconsider its decision and return Altman. In…
The Securities and Exchange Commission (SEC) on Monday filed a lawsuit against one of the biggest global crypto exchanges, Kraken. The agency is alleging that Kraken violates securities laws by running an unregistered online trading platform. In response to the lawsuit, Kraken…
The Securities and Exchange Commission (SEC) has filed a lawsuit against another top crypto exchange, Kraken, for not registering as a securities trading platform. In the suit filed on Monday, the SEC said it’s seeking a judgment to permanently forbid Kraken from…
As the legal peril against non-compliant firms intensifies, crypto firms have taken strategic action to comply with the US Securities and Exchange Commission (SEC). Despite the efforts to meet the regulatory requirements, the ongoing SEC crackdown on crypto firms has forced vital…
With the advancement in the digital sector crypto has become a tool for conducting unlawful activities forcing industrial players to take decisive action to protect the digital industry from collapsing. As part of the pivotal role to shield the crypto industry from…
The banking regulator in Canada, the Office of the Superintendent of Financial Institutions (OSFI), has called on banks to give feedback on guidelines on how banks should report crypto exposure. Similarly, the Basel Committee on Banking Supervision (BCBS) is asking for feedback from…
The departure of Sam Altman as the chief executive of the giant tech firm OpenAI has triggered a top-level exodus. A source privy to the information stated that the departure of Altman from OpenAI has deepened the leadership shakeup. In a recent…
The crash of Sam Bankman Fried-led crypto exchange FTX has been described as another Lehman shock in the financial sector that plunged most firms to liquidity. The aftermath of the FTX challenged the regulators to team up with the key industrial players…
In an advancement announcement, Standard Chartered Bank’s investment and innovation division SC Ventures released a tokenization platform dubbed Libeara. Launching the Libeara positions Standard Chartered Group among the list of companies seeking to capitalize the tokenization of real-world assets (RWA). Lately, the…
The securities and exchange commission (SEC) has given itself an applause for “another highly productive year” in crypto-related charges in 2023. The agency said in a report that it filed 784 total enforcement actions in the fiscal year 2023, including big names…
The crypto industry has reacted to the proposed tax reporting rules put forward by the Treasury. The proposed regulation in collaboration with the Internal Revenue Service (IRS) will require crypto brokers to be treated in the same way as brokers for traditional investments…
As the countdown to April 2024 Bitcoin halving begins, critical players in the crypto sector forecast that the demand for BTC will double down. Michael Saylor, the co-founder of MicroStrategy, anticipates that BTC will increase by ten times before the end of…
As the crypto community ponders the next move for the collapsed Bahamian crypto exchange FTX, the former top executives have established a significant comeback in the digital sector. The return of the former executive aims at identifying the critical areas that went…
In an advanced announcement, hackers launched a malicious attack on the Poloniex hot wallet, draining assets worth $126 million. The hacking incident was first flagged by Peckshield at 10:55 UTC on November 10 after hackers transferred a measurable amount of funds to…
There are high hopes for the approval of a spot Bitcoin ETF in the U.S. This has led to optimism that Bitcoin’s price will rise, so the entire industry is looking forward to the approval. However as decisions on the already submitted…
