Tag Archives: AA News

The Securities and Exchange Commission (SEC) just voted to propose new amendments affecting rules around crypto asset custody in the United States – and commissioner Hester Peirce (aka “Crypto Mom”) is not a fan.  Peirce believes the proposed rules could leave crypto investors more vulnerable to theft and fraud, contrary to their intent.  Crypto Mom’s Criticisms The rule change in question would modify the Commission’s custody rule to “amend certain related recordkeeping and...

Seychelles-based cryptocurrency exchange OKX announced the launch of its new blockchain dubbed OKBChain, which is separate from the existing Ethereum Virtual Machine (EVM)-compatible smart contracts protocol OKXChain. According to OKX’s founder Star Xu, the new OKBChain would foster the development of an OKB decentralized ecosystem. OKX Unveils New Protocol for Decentralized Economy As per Xu’s tweet, OKBChain will be launched in Q1 2023 as a separate protocol from OKXChain,...

Avraham Eisenberg, the 27-year-old Puerto Rico man who made over $100 million by exploiting the decentralized finance (DeFi) protocol Mango Markets in October 2022, is seeking to keep part of the funds as a bug bounty. In a court document filed at the US District Court for the Southern District of New York on Wednesday, Eisenberg’s lawyers claimed the exploiter had already returned enough of the funds, referring to the $67 million he gave back to the protocol after the...

Tom Dunleavy – Senior Research Analyst at Messari – thinks there is a bright future for the blockchain platform Polygon. It has shown significant growth over the past few years, increasing the number of its developers and attracting some major institutions.  Dunleavy took it to Twitter to lay out the most notable recent achievements of the layer 2 blockchain platform. He mentioned the active addresses, whose number has surged by 90% quarter over quarter (QoQ), and added that...

The guarantors behind Sam Bankman-Fried (SBF)’s $250 million bail package have been revealed after news organizations gained court approval to unseal their names in early January.  Both individuals are high-ranking academics at Stanford, where the disgraced CEO’s parents are law professors. Who Granted SBF Bail? The signatories’ names are Larry Kramer and Andreas Paepcke – a former Stanford law school dean and computer scientist, respectively.  Kramer is president of the...

DBS Digital Exchange (DDEx), the crypto trading subsidiary of the Singapore banking giant DBS Group Holdings, witnessed exponential growth in bitcoin trading last year despite the winter that wiped out billions of dollars from the market. According to the report from Bloomberg, the exchange recorded an 80% increase in Bitcoin trade volume compared to the previous year. Despite negative sentiments in the market, the number of BTC in DDEx’s custody doubled as of December 31,...

Milena Mayorga – ambassador of El Salvador to the United States – said the Salvadoran authorities might open a bitcoin embassy in Texas. The central American nation has already introduced a BTC office in the city of Lugano, Switzerland. The Second BTC Embassy Mayorga held a meeting with Jose “Joe” Esparza (Texas Deputy Secretary of State) to discuss the new initiative, outlining the financial connection between El Salvador and the region: “We discussed the opening of the...

Bitcoin soared back above $23,500 on Wednesday, less than one week after losing the support line in response to the regulatory crackdown against an industry giant last week. The event has triggered $120 million in liquidations within the past 24 hours.  Bitcoin began the day trading for roughly $22,000 but began to climb at 11:38 US, reaching $22,800 within 40 minutes.  The cryptocurrency soared again at about 18:24, eventually climbing to a high of $23,348 by 19:30. It...

Leading venture capital firms such as Sequoia Capital, Thoma Bravo, and Paradigm were reportedly indicted for adding an “air of legitimacy” to the bankrupt cryptocurrency exchange FTX. Sam Bankman-Fried, accused of committing several crimes such as fraud and money laundering, received a subpoena as part of the case against the organizations he found and will have to present a range of documents on February 17. His father – Joseph Bankman – and Alameda Research’s former bosses...

It’s been over half a year since the Harmony bridge was breached, allowing hackers believed to be a part of the Lazarus Group to make off with about $100 million in cryptocurrencies at the time they were stolen. Multiple Cashout Attempts Nearly $91 million of those funds have seen attempted cashouts so far. The most recent attempt at laundering the stolen funds saw about $27 million worth of crypto being moved. The operation was detected by security researchers, although it...