Tag Archives: social

In what’s described as a rapidly evolving landscape of financial and economic crimes threatening the internal security of the European Union, Europol has applauded the independence and protection offered by blockchain technology. Europol has also raised concerns over the rising criminal activity within decentralized finance (DeFi). Europol Warns of Rising Criminal Activity in DeFi and NFT Space Europol, the European Union Agency for Law Enforcement Cooperation, recently...

Coinbase, one of the most popular crypto exchanges, continues its expansion journey with the official launch of its Web3 wallet designed to facilitate transactional interactions for major institutions with Web3, DeFi, and NFTs. Per Coinbase’s statement, this crypto wallet will rely on MPC tech to enable clients to store tokens from supported networks, access funds, interact with dApps and smart contracts, and tap into decentralized liquidity to trade a wide range of assets....

The latest market manipulation report from Solidus Labs, specializing in crypto-native trade surveillance and risk monitoring, has identified wash trading activity of at least $2 billion worth of cryptocurrency on Ethereum-based decentralized exchanges (DEXs) since 2020. Solidus Labs Exposes Wash Trading in DEXes Solidus Labs analyzed a sample of approximately 30,000 DEX liquidity pools and found that wash traders manipulated 67% of them. Wash trading refers to traders...

Polygon has doubled down its efforts to create an interconnected layer-2 Ethereum ecosystem powered by zero-knowledge technology for its recently unveiled Polygon 2.0’s roadmap. As such, Polygon Labs – the organization behind the scaling solution – has released three PIPs. The implementation will, however, begin as early as Q4 of this year if the community endorses these proposals. The Proposals for Polygon 2.0 In a blog post, Polygon Labs presented three Polygon Improvement...

Ukraine’s Economic Security Bureau (ESB) is investigating local cryptocurrency exchanges. This action comes in response to the bureau’s discovery that unregulated exchanges operating in the country have led to a loss of 3 billion Ukrainian hryvnia (over $80 million) in uncollected taxes. Earlier, Ukrainian regulators voted to tax crypto gains 18% as of 2024. Meanwhile, Kyiv has been working to align its cryptocurrency regulations with the European Union (EU) in recent weeks...

The dYdX Foundation, a non-profit organization behind the decentralized crypto exchange dYdX, has released its semi-annual report detailing its ecosystem growth and milestones reached in 2023. According to the report, the foundation fostered the development of the dYdX protocol and grew the community in preparation for the release of the v4 open-source software – the dYdX Chain. The Journey So Far in 2023 The foundation said the regulatory challenges of the crypto industry,...

The United Kingdom Financial Conduct Authority (FCA) said it will extend the deadline for crypto firms to implement the strict marketing rules created to protect consumers. According to an official release, the core rules will still come into effect from October 8, 2023, while measures that require greater technical development, like the 24-hour cooling-off period, can be implemented from January 8, 2024. FCA Extends Deadline for New Crypto Rules The FCA has labeled...

Grayscale’s victory over the SEC could be seen as a major setback for the financial regulator, which has intensified its enforcement efforts against the cryptocurrency industry. However, this landmark win did not translate into a notable increase in the accumulation of crypto assets in the spot market. In fact, CCData’s latest report disclosed that the losing streak continued in August despite minor fluctuations. Spot Volumes Takes Hit The total trading volume for spot and...

The world’s most valuable company – Apple, with market cap nearing $3 trillion, has reportedly secured the rights to the upcoming book about FTX’s founder – Sam Bankman-Fried. The book will likely be one of the many documentaries, including short TV series, to be released about SBF and his former empire. Apple Gets the Book FTX’s demise was undeniably the biggest news in the second half of 2022 in the cryptocurrency industry, perhaps even in finance. The once-prominent...

Vitalik Buterin, the co-founder of the second-largest blockchain, Ethereum, had his X account hacked to portray a phishing site that reportedly drained over $800,000. The fraudulent post has been deleted since, and the account has been restored. The blockchain security resource PeckShield was among the first to alert about the ongoing hack later last night, showcasing the suspicious post coming from Buterin’s account. It read that Consensys has decided to distribute...