HashKey Cloud has announced a new partnership with Kintsu, an advanced liquid node validation infrastructure on the Monad Network. This collaboration will enhance the performance and security of Kintsu’s protocol, benefiting users across the Monad ecosystem.
Kintsu focuses on liquid node validation or Proof-of-Stake (PoS) blockchains. It enables users to decentralize their assets to node operators but retain liquidity, hence the highest engagement in DeFi. Unlike PoS node validation, which usually halves the tokens and limits the user’s ability to engage in on-chain activities, Kintsu provides the option to stake and farm at the same time. This distinct approach seeks to give users staking capabilities without sacrificing liquidity; it signifies an enhancement in network defense and

The U.S. Department of the Treasury has imposed sanctions on Cambodian businessman Ly Yong Phat and his businesses, including his conglomerate L.Y.P. Group and the O-Smach Resort. This move, disclosed on Thursday, stands in response to their roles in human trafficking and forced labour as connected with cryptocurrency fraud.
The penalties have been imposed to prevent and curtail human rights abuses and other related offenses. OFAC of the Treasury said that Ly Yong Phat businesses engaged in scams, and investors were defrauded into investing in cryptocurrency and foreign exchange trading. These scams were operated from cyber cafes and other online facilities, where trafficked workers were employed.
FBI Reports Surge in Crypto Scam Losses; Treasury Imposes New Sanctions
The Treasury pointed

Bitdeer (NASDAQ: BTDR) has announced a forthcoming auction for used mining equipment on its official website. The auction will feature a total of 2,880 used Antminer S19 units from Bitdeer’s Norway mining datacenter. The starting price for the auction is set at $270,000.
The auction will include two types of Antminer S19 models: the Antminer S19-95T and the Antminer S19-90T. Among the total units, 2,132 are Antminer S19–95T, while 748 are Antminer S19–90T. The auction starts on September 24, 2024, at 10:00 AM in UTC+8 and ends on September 26, 2024, at 10:00 AM in UTC+8. Print bidders need to start bidding at $270 000, while internet bidders need to provide a bid deposit of $10 000 to participate in the bid. Bid increments are at $1000.
In order to qualify for auction, the bidder is

DeFi Saver, a leading platform in decentralized finance (DeFi) management, has announced its integration with Sky Protocol, marking a significant milestone in the DeFi sector. This upgrade is scheduled for September 18th and is to enable the stablecoins $SKY and $USDS, as well as several new features for the financial products in Sky Protocol ecosystem.
In the latest update on X, Sky Protocol stated that the integration with DeFi Saver will include some distinctive features intended for opening up more financial possibilities for users. This partnership is considered to be strategic in enhancing the functionalities of both Sky Protocol and DeFi Saver.
DeFi Saver Enhances Platform with $MKR & $DAI Migration Tools
CDPSaver, the app that developed into DeFi Saver, was designed mainly for

Flowcarbon, a climate tech startup co-founded by former WeWork CEO Adam Neumann, is refunding investor funds following delays in launching its “Goddess Nature Token.” This token was intended to be backed 1:1 by carbon credits, which companies use to offset their greenhouse gas emissions. The startup, which announced a $70 million funding round in May 2022 with notable backers including Andreessen Horowitz and Samsung Next, had raised at least $38 million through token sales.
For over two years after its establishment, Flowcarbon could not launch the token. This company sought to make the process of engaging in the carbon credit market by tokenizing these credits but faced hurdles. The carbon credits were planned to be launched in early 2022, but there were some problems with carbon

Upbit, South Korea’s largest cryptocurrency exchange, has announced the launch of Nervos Network (CKB) on its platform. Starting today at 16:00, users will be able to trade Nervos in the KRW, BTC, and USDT markets. This new listing enables the trading of CKB with three primary pairs, which will improve the token’s flexibility and market depth.
The deposit for Nervos Network (CKB) will start another 3 hours after the announcement, while the transactions will begin at 17:00 on September 13. It is important for users to make sure when depositing that they are using the right CKB-Nervos Network and that transactions made through other unrecognized networks will not be accepted.
Nervos Network (CKB) Launches on Upbit with Order Execution Restrictions
In the first five minutes of trading,

Indodax, a leading cryptocurrency exchange based in Indonesia, has been hit by a significant security breach, leading to losses estimated at approximately $15.7 million. PeckShield, a cybersecurity firm, first identified the exploit that saw significant cryptocurrency movements from Indodax’s wallets. The breach affected roughly $15.7 million in digital assets, including large quantities of Ethereum and other tokens.
Another security firm, Cyvers Alerts, confirmed the suspicious activity. It saw more than ten unusual transactions flowing through Indodax’s wallets across various networks. One of the addresses appeared to contain $14.4 million and was quite involved in exchanging tokens for Ether. PeckShield estimates the stolen assets as approximately 5,204 Ethereum (ETH) on the Ethereum

On Tuesday, Singapore’s Deputy Prime Minister, Gan Kim Yong, addressed Parliament regarding concerns about Worldcoin’s operations in the country. The concerns were on threats such as improper use of Worldcoin accounts and the possibility of the accounts being used to conduct money laundering.
Gan Kim Yong stressed that Worldcoin does not currently operate as a payment service provider under Singapore’s Payment Services Act (PS Act). However, he stated that trading Worldcoin accounts would qualify as a payment service for business purposes, which could lead to law violations. He also mentioned that seven people have been reported to the police for buying and selling Worldcoin accounts and tokens, which is prohibited under the Payment Services Act 2019.
Worldcoin Account Transfers May Lead

The Federal Bureau of Investigation’s Internet Crime Complaint Center (IC3) released its cryptocurrency fraud report 2023, revealing that Americans lost an astonishing $5.6 billion due to crypto-related scams. This is an increase of 45% compared to the previous year.
The report reveals that a tenth of all complaints reported to the FBI involved cryptocurrency-related scams. However, as highlighted above, these complaints contributed to nearly half of the overall losses. This has brought out the adverse effects of crypto fraud, as depicted in the article.
75% of Fraud Victims Unaware They’ve Been Scammed, FBI Reports
According to the report, of the 69,000 complaints regarding cryptocurrencies, people over the age of 60 were the most vulnerable and lost about $1.6 billion. The most common

In 2024, the United States Securities and Exchange Commission (SEC) dramatically increased its enforcement actions against cryptocurrency firms and executives, totaling nearly $4.7 billion. This amount is 3,000% more than the fines of $150.3 million set in 2023.
The SEC’s penalties more than doubled as the result of its record $4.47 billion settlement with Terraform Labs and its ex-chief, Do Kwon, in June. This settlement is the most significant enforcement action ever by the SEC.
Terraform Labs Pushes Average SEC Fine Above $420M
Though the SEC undertook 11 actions this year compared to 30 last year, the fines greatly increased. The rise in fines includes various penalties, including forfeiture, disgorgement, civil penalties, and settlement amounts. This shift in approach implies that

Japanese investment firm Metaplanet Inc. has announced the acquisition of an additional 38.464 bitcoins, valued at approximately 300 million yen ($2 million). This new acquisition takes their total bitcoin reserves to 398,832 BTC, valued at roughly 3.75 billion yen ($26 million).
After such a report, Metaplanet’s shares increased by 4.42% in Japan. According to Yahoo Finance, the stock was last in the range of 1,086 yen; the highest price level it touched in today’s trading session was approximately 2,000 yen. The profitability of the stocks also did not record a dramatic change during the period, posting a slight gain of 0.02% in the Nikkei 225 index.
Metaplanet to Use 299.7 Million Yen from Stock Rights for More Bitcoin
Metaplanet has consistently been increasing the quantity of

South Korean Financial Supervisory Service (FSS) announced on Tuesday that it will start inspecting cryptocurrency exchanges to uncover illegal or unfair practices. This is the first inspection since the new Virtual Asset Users Protection Act came into effect in July.
It looks for signs of money laundering and checks if new rules designed to safeguard virtual assets and record transactions are being complied with by the exchanges. According to the FSS, they plan to: “Maintain market order by ensuring strict penalties for any unlawful activities discovered during the inspection, and advocate for change where possible by identifying areas of concern. ”
The review will start with two particular crypto exchanges that operate in KRW (Korean won) and which were previously found to have had

A new report suggests that US companies are expected to purchase $10.3 billion worth of Bitcoin over the next 18 months. This shift is part of a growing trend in corporate treasury strategies, with companies looking for better ways to preserve their wealth amid inflation concerns.
Some of the criticisms made by River analysts included that conventional corporate treasury management focused on cash and cash-like instruments lose value in the long run. Still, such investments can guarantee a return equal to the federal funds rate above 5%, yet they offer less than inflation. Therefore, corporate treasuries, valuable organizational assets, can be substantially devalued.
It also noted that this has remained a problem, not even sparing the biggest companies such as Apple. Apple has lost about

VanEck has decided to close and liquidate the VanEck Ethereum Strategy exchange-traded fund (EFUT) after carefully considering several factors, including the fund’s performance, liquidity, and investor interest. The company has given its shareholders until September 16th, 2024, to dispose of their shares before the fund is taken off the exchange.
The Board approved the liquidation of Trustees of VanEck ETF Trust on September 5, 2024. The Ethereum Futures ETF (EFUT), which is traded on the CBOE exchange, will cease trading on September 16, 2024. This move was made as part of VanEck’s routine assessment of its ETF products to meet market needs and business objectives.
VanEck ETF to Cease Trading on September 16, 2024
Individuals who want to sell their shares can do so before the close of

Binance Kazakhstan has received formal consent from the Astana Financial Services Authority (AFSA) for a full regulatory license. This is a significant step towards achieving a fully regulated Digital Asset Trading Facility (DATF) status, the first of its kind in Kazakhstan.
This was after a rigorous and step-by-step assessment that involved financial audits, ISO certifications, and internal and external assessments. It should be noted that the AFSA, the regulator of financial and non-financial services within the AIFC, has carefully assessed Binance Kazakhstan to ensure compliance with best regulatory practices.
Upon receipt of the full license, Binance Kazakhstan will be allowed to manage a virtual asset trading platform, engage in principal transactions, and custody virtual assets. The

Arthur Hayes has issued a stark warning for Bitcoin investors, suggesting that the cryptocurrency could fall to $50,000 in a worst-case scenario. In his latest article titled “Boom Times… Delayed,” Hayes expresses a cautious outlook on Bitcoin and the broader cryptocurrency market. He has projected continued declines until a possible intervention later this month.
Hayes expects the macroeconomic factors and policies of the Federal Reserve to influence his forecast. While the Fed has recently been less active on rate rises, the bond market has responded significantly, with 10-year US Treasury yields for example, hovering around 5% and rising due to inflation and government spending. This has led to a decline in the stock market by 10 percent and increased worries over the regional bank’s

As September opens, Bitcoin confronts a pivotal moment with significant challenges looming. The cryptocurrency concluded August at $58,975, marking an 8.75% drop for the month—its sharpest decline in six months. This represents a reverse of the upward trend and a far cry from the high US stocks that reached almost record levels in August. These divergences are areas that have raised more questions on issues like valuation and investor sentiment, and these should pave the way for more volatility in September.
Bitcoin’s price targets for September are set to range from $46,000 to $70,000 standing for several possible scenarios. The sharp decline in August indicates the weakness of Bitcoin while the rise in major stock markets shows that traditional equities are no longer an accurate

The FBI has warned about North Korean hackers targeting employees of cryptocurrency and decentralized finance (DeFi) companies. In a public service announcement (PSA) released on Tuesday, the FBI detailed how these state-sponsored attackers use advanced social engineering tactics to infiltrate organizations and steal cryptocurrency.
Recognizing this danger is crucial, as the FBI stated that North Korean actors utilize diverse approaches targeting particular DeFi and cryptocurrency organizations and using various social engineering techniques to penetrate their networks. These attackers gather a lot of information about their targets and come up with very credible impersonations. Sometimes it is designed to deceive the employees into granting access to important and secure systems.
In its

Mark Karpeles, the former CEO of Mt. Gox, is set to launch a new cryptocurrency exchange, EllipX, later this month. Announced during an interview at the Korea Blockchain Week in Seoul, the platform will debut in Europe, with its base in Poland. Karpeles will act as EllipX’s chief technology officer. He emphasized that the exchange will prioritize transparency and user-friendliness.
EllipX can differentiate itself within the market by offering operation clarity. As mentioned earlier, Karpeles identified several factors in his article, where many of the leading exchanges are huge and their functioning is quite opaque. In addressing this, EllipX will disentangle the functions that the exchange will perform including trading, brokerage, and storage. It operates similarly to the New York Stock

During a recent fireside chat at the Korea Blockchain Week in Seoul, Brad Garlinghouse, CEO of Ripple, provided significant updates on the company’s upcoming initiatives. Garlinghouse revealed that Ripple is nearing the launch of its U.S. dollar-pegged stablecoin, known as Ripple USD (RLUSD).
The stablecoin is still in private closed beta, though its public release is expected in weeks, not months. This comes after Ripple announced last month that it had begun experimenting with RLUSD across two blockchain networks, seen as a calculated penetration to improve its standing in the stablecoin market.
Garlinghouse’s comments also included the overall stablecoin market, of which 70% and 21% belong to Tether and USD Coin holders respectively. This is considered a timely entry by Ripple with

The recent hack of the cryptocurrency exchange WazirX has witnessed a significant development. The hackers have transferred 2,600 ETH, worth approximately $6.5 million, to Tornado Cash, a cryptocurrency mixer that is under U.S. sanctions. This action, identified by the security firm PeckShield, is a common technique used by cybercriminals to obscure the trail of stolen funds and make it more challenging for authorities to trace and recover them.
On the 18th of July 2024, WazirX was struck by a severe cyberattack that saw the hackers make away with its multi-signature wallet. The breach even led to the loss of as much as $234 million. From this incident, one can readily conclude that the exchange has been greatly shaken in its ability to achieve a balance of its assets along with the

Pump.fun, a memecoin launchpad that launched in January 2024, has quickly become one of the hottest platforms in the crypto industry, recently surpassing $100 million in total cumulative revenue for its developers.
According to a dashboard maintained by Dune Analytics, this figure reflects the platform’s remarkable growth, along with users’ interest. Pump.fun obtains its revenue from a 1% charge on each transaction, which is quite appealing to the developers. However, to sustain the future growth of the platform, user engagement in meme creation and memecoin trading has to be consistent.
Pump.fun Thrives on Memecoin Speculation, Polymarket on Data-Driven Predictions
Pump.fun and Polymarket are two crypto-based platforms that are primarily based on speculation, but function in different

Global cryptocurrency exchange OKX has officially received its full Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS) for its Singapore branch, OKX SG. This license permits OKX SG to engage in digital payment services, transfers of money internationally, and spot cryptocurrency trading for any investor in Singapore.
Apart from obtaining the license, OKX has also hired Gracie Lin as the CEO of its Singapore offices. Lin brings extensive experience to her new role, having previously worked at MAS, the sovereign wealth fund GIC, and the ride-hailing giant Grab. As an expert in the financial and regulatory environment in Singapore, Lin will be responsible for the creation of cryptocurrency products and services that will best suit Singapore’s inhabitants.

A new report from investment immigration consulting firm Henley & Partners reveals that Singapore is the global leader in cryptocurrency adoption. The report, part of the Henley Crypto Adoption Index 2024, highlights Singapore’s top position due to its supportive regulatory environment and widespread public use of cryptocurrencies.
The survey also revealed that out of 60 points, Singapore was leading with 45.7 points in the index. Singapore has been ranked highly because of its advanced regulation of crypto, with the Payment Services Act to regulate digital payment tokens. The Monetary Authority of Singapore (MAS) has also been active with initiatives such as Project Orchid and Project Guardian which focus on blockchain and tokenization opportunities.
Hong Kong Ranks Second in Crypto

A recent combined report by Block Scholes and Bybit sheds light on the crypto derivatives market’s robust performance despite recent turbulence. The analysis of futures, options, and perpetual contracts showed the case to understand how the sector is stable during high volatility.
The report notes that, while BTC fell below $59,000, the futures market remained relatively stable. The open interest for futures contracts was flat, meaning traders were proactively reducing their leveraged exposures. This approach minimizes the risk of forced liquidations and is a slow and steady but passable market reaction to fluctuations.
Furthermore, the report highlights an increase in the funding rate of TON after key market events, which indicates that there is increasing demand for leveraged trading.

Arthur Hayes, co-founder of the crypto exchange Bitmex, has shared his positive outlook on Bitcoin’s future, especially in light of recent interest rate cuts by major central banks. Hayes has stated that all these actions could help a lot for the subordinate benefit of Bitcoin.
Recently Hayes opined on the persisting trend of rate cuts with the U.S Federal Reserve, Bank of England, and the European Central Bank. He noted that all these central banks are opting for a reduction in interest rates despite inflation still being above target levels. Hayes concurs with this by saying that it could bring about more expansion of the money supply and more inflation.
Hayes pointed out that if the American economy starts to slow down, perhaps experiencing a recession, the Federal Reserve can lower

Hong Kong has introduced a sandbox for Project Ensemble, a wholesale central bank digital currency (CBDC) project. This initiative brings the region closer to integrating tokenization within its traditional financial industry. Wholesale CBDCs are designed for use by financial institutions, unlike retail CBDCs, which are meant for the general public’s everyday transactions. Wholesale CBDCs focus on interbank settlements and large-value payments.
The sandbox is launched by the Hong Kong Monetary Authority (HKMA), which is the central banking institution of the region. The sandbox will initially explore four key areas: basic money and investment management, liquidity, sustainable and green finance, and trade finance and supply chain management. The sandbox will take the form of an experiment

Nasdaq is seeking regulatory approval to introduce and trade options on a new Bitcoin index, the exchange operator announced on Tuesday. The US Securities and Exchange Commission (SEC) has not yet approved options for any of the spot Bitcoin exchange-traded funds (ETFs) that have started this year, including Nasdaq’s request for options on BlackRock’s iShares Bitcoin Trust ETF which is worth $21.3 billion.
Matt Hougan Advocates for Bitcoin Options to Boost Market Efficiency
The Bitcoin index options that have been proposed here would create an efficient means for institutional investors and traders to hedge their Bitcoin risks. These index options, which are listed derivatives, would enable investors to protect or amplify their exposure to Bitcoin, the most valuable digital coin.
Speaking

Australians have recently experienced significant losses due to cryptocurrency investment scams, with AU$180 million ($122 million) lost over the past 12 months. The Australian Federal Police (AFP) issued a warning on Wednesday, highlighting the growing sophistication and prevalence of these scams. These remarks were made during Scams Awareness Week 2024, which is designed to raise awareness of such schemes.
According to the Australian Cyber Security Centre (ACSC), total investment scams loss for the financial year 2023-2024 reached AU$382 million ($259 million). Of this, 47% related to cryptocurrencies which puts into perspective the role of these assets in scams. The AFP noted a troubling trend: Younger Australians particularly those aged below 50 years are the most affected. Statistics

BlackRock has introduced an Ethereum Exchange Traded Fund (ETF) in Brazil, marking a significant step in expanding cryptocurrency investment options in the region. The ETF, listed under the code ETHA39, has been launched today, on August 28 on Brazil’s B3 exchange.
This product is offered as a Brazilian Depositary Receipt (BDR), a type of certificate representing shares issued by a company outside of Brazil. The expected price for launching ETHA39 is between R$ 40 and R$ 50 ($7.26 to $9.00) for a management fee of only 0.12% on the first $2.5 billion in assets managed by investment professionals in the United States alone.
Brazilian Investors Gain Ethereum Access with BlackRock’s ETHA39 Launch
Nicolas Gomez, BlackRock’s head of ETFs, index investments, and products for Latin America,