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Tag Archives: News

Coinbase Fined $4.5 Million in the UK

Coinbase’s entity in the UK was fined $4.5 million for breaking an agreement with the Financial Services Authority (FSA). CB Payments Limited (CBPL), the entity, onboarded high-risk customers, possibly allowing crime-related funds to follow into the country’s financial system. “CB Payments Limited (CBPL) has been fined £3,503,546 by the Financial Conduct Authority (FCA) for repeatedly breaching a requirement that prevented the firm from offering services to high-risk customers,” the FSA said...

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WazirX Hack Most Likely Linked to Its Custodian’s Systems Failing

Wazir X issued a report on Thursday, with new revelations of the $235 million hack, stating all indicators point to the custody service provider it relies on, Liminal Custody. According to the report, the custodian may have suffered a security breach, causing it to approve a transaction to a fraudulent wallet address. Nothing seemed suspicious at the surface level. “In this cyber attack, the malicious transactions involved signatures from three WazirX signers and one from Liminal, confirming...

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Stablecoin Market Capitalization Jumps to $164 Billion, Highest Since Terra Collapse

The stablecoin ecosystem rose to over $164 billion this past week—the last time it did this was before the Terra ecosystem collapse, linked to the UST stablecoin. This spike in market cap implies growing interest in blockchain technology as users buy and trade assets and products, interact with DeFi protocols, and more. Stablecoins are assets that reference the value of other assets, including fiat currencies and precious metals. The value of the most popular stablecoins is tied to the US...

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Bitstamp Begins Repayments to Mt. Gox Creditors

Bitstamp, one of the five exchanges chosen by Mt. Gox’s bankruptcy estate to effect reimbursements to its creditors, began the process on Thursday. The repayments kicked off three days after Mt. Gox wallets conducted test transactions with and subsequently sent funds to Bitstamp. Bitstamp is sending bitcoin (BTC), Bitcoin Cash (BCH), and Ether (ETH) to creditors who were assigned to the exchange for reimbursements. Most creditors are expected to have their assets within a week after the...

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Celebrity Memecoins Have Not Lasted the Test of Time

Celebrity memecoins deployed on the Solana network’s pump.fun protocol have tanked severely. Nearly all value has been erased from these projects, leaving investors and the fans of the celebrities the tokens were modeled after experiencing tremendous losses. While some of these projects took a few months to drop, many were pump and dump scams, leaving users in the dirt hours after their launches. The ones that made it a while did not do so for more than 3 months, depicting how the lack of...

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