Tag: Report

China’s Financial Associations Reclassify RWAs as ‘Risky‘: Report

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Several of the largest financial industry associations in China have reportedly signaled that the country’s regulators could crack down on Real-World Asset (RWA) tokenization. According to a notice shared by Wu Blockchain on Monday, the Asset Management Association of China, National Internet Finance Association of China, the China Banking Association, the Securities Association of China, the China Futures Association, the China Association for Public Companies, and the China Payment Clearing Association will no longer consider RWAs as “new technology” subject to regulatory clarification but rather as a “risky” business model.…

Binance to Remove FLOW/BTC Spot Trading Pair after Flow Exploit Report

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Cryptocurrency exchange Binance has announced a change in its policies related to trading and monitoring following a $3.9 million exploit of the Flow blockchain last week. In a Friday announcement, Binance said it would remove nine spot trading pairs from the exchange beginning on Saturday, including one for Flow (FLOW)/Bitcoin (BTC). In a separate notice, the company included FLOW and three other tokens on its monitoring tag list. The tag is featured in tokens exhibiting “notably higher volatility and risks compared to other listed tokens,” the exchange said, noting that…

Uber considers acquiring parking app SpotHero: Report

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Key Takeaways Uber is considering acquiring SpotHero, a parking app. SpotHero allows users to find and book parking spots in advance. Share this article Uber, the global ride-hailing and delivery platform, is considering a deal to acquire SpotHero, a parking app that enables users to find and book parking spots in advance across cities, according to The Information. The potential acquisition would allow Uber to expand into parking services, complementing its existing ride-hailing operations. The Chicago-based parking reservation platform raised approximately $118 million across multiple venture funding rounds, most recently…

Mirae Asset in Talks to Buy Korean Crypto Exchange Korbit: Report

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Mirae Asset Group is in talks to acquire Korbit, South Korea’s fourth-largest cryptocurrency exchange, in a deal valued at roughly 100 billion to 140 billion Korean won ($70 million to $100 million). The potential acquisition would be led by Mirae Asset Consulting, a non-financial affiliate of the group, which has reportedly signed a memorandum of understanding with Korbit’s major shareholders, according to a Sunday report from The Chosun Daily. Korbit is primarily owned by NXC and its subsidiary Simple Capital Futures, which together hold about 60.5% of the exchange. SK…

Trust Wallet confirms extension vulnerability after users report Christmas drains

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Key Takeaways Trust Wallet users were hit by an extension exploit that drained over $6 million from their wallets on Christmas. Trust Wallet confirmed the incident on social media, saying that only the browser extension version 2.68 was affected. Share this article Trust Wallet on Thursday confirmed a security incident affecting version 2.68 of its Chrome extension and urged users to disable the extension and upgrade immediately. The team said its mobile app and other versions of the browser extension were not impacted. We’ve identified a security incident affecting Trust…

JPMorgan Explores Crypto Trading for Institutional Clients: Report

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Banking giant JPMorgan Chase is considering offering cryptocurrency trading to its institutional clients, marking a significant expansion for a traditional financial institution expanding its digital asset services. According to a Monday Bloomberg report citing a person familiar with the plans, JPMorgan Chase is assessing products and services in its markets division as part of a potential expansion into cryptocurrencies. The company’s plans were not public at the time of publication, but could include digital asset spot and derivatives trading. The crypto trading services are in the early stages of development,…

Jump Trading sued for $4 billion over Terraform Labs fallout: Report

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Key Takeaways Todd Snyder, who manages the liquidation of the Terra ecosystem, is suing Jump Trading for $4 billion. The crash of TerraUSD and LUNA tokens led to significant investor losses and cascading failures in the crypto sector. Share this article The administrator of Terraform Labs’ bankruptcy, Todd Snyder, has filed a lawsuit against Jump Trading, its executives William DiSomma and Kanav Kariya, accusing them of profiting unlawfully and contributing to the crash of Terraform in 2022, according to The Wall Street Journal. Jump Trading faced scrutiny for its role…

NYSE Parent Company Mulls Investment in Crypto-Native MoonPay: Report

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Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), is in talks to invest in crypto payments company MoonPay as part of the company’s latest funding round. MoonPay is seeking to raise funds at a $5 billion valuation, according to Bloomberg, which cited sources familiar with the deal and did not disclose the dollar amount of the potential investment. In October, ICE invested $2 billion in prediction platform Polymarket, in a funding round that brought the company’s valuation to $9 billion. MoonPay is a financial technology…

CAR Crypto Push Deepened Elite Control, Exposed State to Crime: Report

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The Central African Republic’s push into crypto has deepened elite control and exposed the country to “foreign criminal organizations,” according to a recent report by the Global Initiative Against Transnational Organized Crime (GI-TOC). In the report titled “Behind the blockchain: Cryptocurrency and criminal capture in the Central African Republic,” researchers claimed that the CAR’s crypto ventures, from adopting Bitcoin (BTC) as legal tender to launching Sango Coin and the CAR memecoin, were rolled out in a fragile state with limited electricity, internet access and oversight. “An impoverished population, exposed to…

Binance Froze Partial Funds from Upbit Hack: Report

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According to South Korean broadcaster KBS, Binance reportedly froze only a portion of funds that police said were linked to a hack on local crypto exchange Upbit, one of South Korea’s largest exchanges, on Nov. 27. KBS reported Friday that investigators requested Binance freeze approximately 470 million Korean won (approximately $370,000) in Solana (SOL) tokens believed to be associated with the incident. However, the exchange ultimately blocked about $55,000 (roughly 17% of the requested amount) after a delay of about 15 hours. According to the report, Binance cited the need…