Best crypto memes of the day – August 30th

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• Crypto whale loses $24.23 million in major Ethereum phishing scam

  TL;DR Breakdown A prominent crypto investor, known as a “crypto whale,” lost $24.23 million in a phishing scam on September 6. The investor’s Ethereum address “0x13e382” was compromised through unauthorized “increase Allowance” transactions. The stolen assets, including rETH and stETH, were transferred to two separate addresses, one linked to multiple crypto phishing domains. Description In a devastating incident that has rattled the cryptocurrency community, a prominent crypto investor lost a staggering $24.23 million in a phishing scam on September 6. Identified by the Ethereum address “0x13e382,” the investor is considered a “crypto whale,” holding significant assets capable of influencing market trends. The loss included 4,851 rETH valued at approximately … Read more In a devastating incident that has rattled the cryptocurrency community, a prominent crypto investor lost a staggering $24.23 million in a phishing scam on September 6. Identified by the Ethereum address “0x13e382,” the investor is considered a “crypto whale,” holding significant assets capable of influencing market trends. The loss included 4,851 rETH valued at approximately $8.58 million and 9,579 stETH worth around $15.63 million. Data from the Ethereum…

  Article 2023年9月8日

• SEBA Bank gains preliminary approval for crypto services in Hong Kong

  TL;DR Breakdown SEBA Bank’s Hong Kong arm receives in-principle approval from the SFC, allowing it to engage in various crypto-related activities like over-the-counter derivatives and asset management. The approval highlights Hong Kong’s strategic position as a potential gateway to China’s future crypto market, especially given its robust regulatory framework and unique status as a Special Administrative Region of China. Description In a significant development for the cryptocurrency industry, SEBA Bank’s Hong Kong division has secured in-principle approval from the Hong Kong Securities and Futures Commission (SFC). This approval allows SEBA Hong Kong to engage in a range of crypto-related activities, including over-the-counter derivatives, advisory services on virtual assets, and asset management for discretionary accounts in … Read more In a significant development for the cryptocurrency industry, SEBA Bank’s Hong Kong division has secured in-principle approval from the Hong Kong Securities and Futures Commission (SFC). This approval allows SEBA Hong Kong to engage in a range of crypto-related activities, including over-the-counter derivatives, advisory services on virtual assets, and asset management for discretionary accounts in virtual assets. The announcement comes amid a…

  Article 2023年8月30日

• Why the UK wants to restrict what citizens can post on social media

  TL;DR Breakdown The UK’s FCA plans to apply its new consumer duty to social media posts to reduce harm from inappropriate financial promotions. The agency has concerns about ‘finfluencers’ misleading their followers due to their limited understanding of the financial products they promote. The regulator expects companies to monitor their affiliate links and ensure responsible communication. Description With an objective to curb the rising tide of financial misinformation and its consequential harm, the UK’s chief financial watchdog is set to bring social media under its oversight. The Financial Conduct Authority (FCA), intends to extend the application of its new consumer duty to social media posts. This decision comes as part of a … Read more With an objective to curb the rising tide of financial misinformation and its consequential harm, the UK’s chief financial watchdog is set to bring social media under its oversight. The Financial Conduct Authority (FCA), intends to extend the application of its new consumer duty to social media posts. This decision comes as part of a broader effort to stem what the regulator refers to as…

  Article 2023年7月18日

• Indian crypto exchange CoinSwitch trims workforce amid market slump

  TL;DR Breakdown CoinSwitch, an Indian cryptocurrency exchange, has laid off 44 customer support staff, making up about 7% of its total workforce, due to a significant decrease in customer queries. The layoffs follow a similar trend in the crypto industry, with another Indian crypto exchange, CoinDCX, recently laying off 12% of its workforce, citing a prolonged bear market and tax implications. Despite the downsizing, CoinSwitch remains optimistic about rehiring affected employees for future roles, suggesting that the layoffs are a response to broader market conditions rather than company-specific issues. Description CoinSwitch, an Indian cryptocurrency exchange, laid off 44 employees from its customer support team, constituting approximately 7% of its total workforce. The company cited a significant reduction in customer queries and a broader slump in the cryptocurrency market as the primary reasons for the downsizing. Indian crypto exchange CoinSwitch cuts support team in response to … Read more CoinSwitch, an Indian cryptocurrency exchange, laid off 44 employees from its customer support team, constituting approximately 7% of its total workforce. The company cited a significant reduction in customer queries and a…

  Article 2023年8月29日

• Financial Giants Holding $27 Trillion in Assets Eyeing Bitcoin and Crypto

  TL;DR Breakdown Eight major U.S. financial institutions, including BlackRock and Fidelity, are actively seeking ways to provide their clients with exposure to Bitcoin and cryptocurrencies. While the $27 trillion in assets under management is substantial, only a fraction is likely to be allocated to crypto investments due to the perceived risks associated with digital assets. Description In a groundbreaking revelation, CoinShares, a leading digital asset management firm, has disclosed that eight major U.S. financial institutions with a combined $27 trillion in assets under management (AUM) are actively exploring opportunities to provide their clients with exposure to Bitcoin and cryptocurrencies. The move signals a significant shift in the investment landscape, with institutions … Read more In a groundbreaking revelation, CoinShares, a leading digital asset management firm, has disclosed that eight major U.S. financial institutions with a combined $27 trillion in assets under management (AUM) are actively exploring opportunities to provide their clients with exposure to Bitcoin and cryptocurrencies. The move signals a significant shift in the investment landscape, with institutions recognizing the potential of digital assets as a valuable addition to…

  Article 2023年6月29日