TL;DR Breakdown Deloitte and Chainalysis partner to provide mutual clients with access to Chainalysis’ blockchain dataset and analytics software, complemented by Deloitte’s services for enhanced compliance and risk management. The alliance seeks to meet the rising demand for innovative technology solutions and services amidst evolving regulatory expectations and growing digital asset adoption. With a focus on forensic, investigative, and compliance programs, the collaboration empowers clients with cutting-edge tools to thrive in the dynamic world of digital assets. Description In a transformative move set to redefine the landscape of digital asset compliance, two industry giants, Deloitte and Chainalysis, have joined forces to announce a strategic alliance. With the soaring adoption of digital assets and the evolving regulatory landscape, businesses face unprecedented challenges in navigating the complex world of risk management and compliance. In response … Read more In a transformative move set to redefine the landscape of digital asset compliance, two industry giants, Deloitte and Chainalysis, have joined forces to announce a strategic alliance. With the soaring adoption of digital assets and the evolving regulatory landscape, businesses face unprecedented challenges in…

TL;DR Breakdown Era Lend, a lending protocol on the zkSync network, suffered a $3.4 million loss due to a ‘read-only reentrancy attack’, which allowed the attacker to withdraw funds repeatedly. The attack also impacted the stablecoin USDC+, issued by the Overnight Finance protocol, resulting in a potential loss of over $261,000. In response, Era Lend paused its zkSync contracts to prevent further exploits, highlighting the ongoing security challenges in the DeFi sector. Description According to a recent report by blockchain security firm BlockSec, Era Lend, a decentralized lending protocol operating on the zkSync Layer 2 network, has fallen victim to a ‘read-only reentrancy attack’ resulting in a loss of $3.4 million.  The attacker exploited a vulnerability that allowed repeated calls to a function within a single transaction, withdrawing … Read more According to a recent report by blockchain security firm BlockSec, Era Lend, a decentralized lending protocol operating on the zkSync Layer 2 network, has fallen victim to a ‘read-only reentrancy attack’ resulting in a loss of $3.4 million.  We are assisting @Era_Lend to this issue, and the root cause…

TL;DR Breakdown Worldcoin, under the leadership of OpenAI’s chief Sam Altman, was released on Monday after collecting more than 2 million users during a beta period. At the core of the Worldcoin project is an eye-scanning “orb” that must be used in person and provides users with a unique digital identity to confirm they are real humans and not bots. WLD token is available on global crypto exchanges such as Binance, Huobi and Bybit. WLD has a circulating supply of 108,569,365 WLD coins and a max. supply of 10,000,000,000 WLD coins. Description Worldcoin, the ambitious crypto and digital ID initiative led by OpenAI’s chief Sam Altman, went live on Monday after years of development. The coin commits to verify users’ identities by scanning their eyes, potentially resolving one of the most pressing issues posed by recent advances in artificial intelligence, which have made it more difficult to … Read more Worldcoin, the ambitious crypto and digital ID initiative led by OpenAI’s chief Sam Altman, went live on Monday after years of development. The coin commits to verify users’ identities by…

TL;DR Breakdown BlackRock is ready to capitalize on the ongoing banking sector turmoil, intending to purchase more assets offloaded by banks. Vice Chairman, Gary Shedlin, views this as an opportunity for BlackRock and its clients. Shedlin also anticipates a new era in banking where banks adopt an “originate-to-distribute” model, leading to more asset sales to investors. Description Brimming with opportunistic zeal, BlackRock, the global asset management giant, is sizing up the banking arena’s ongoing turbulence and licking its lips at the prospect of scoring some lucrative deals. The shifting landscape of high-interest rates, stringent regulations, and potential mergers serves as the backdrop to BlackRock’s strategic game plan, one that capitalizes on banks’ … Read more Brimming with opportunistic zeal, BlackRock, the global asset management giant, is sizing up the banking arena’s ongoing turbulence and licking its lips at the prospect of scoring some lucrative deals. The shifting landscape of high-interest rates, stringent regulations, and potential mergers serves as the backdrop to BlackRock’s strategic game plan, one that capitalizes on banks’ desperation to offload assets and bolster their capital and liquidity…

TL;DR Breakdown Attorneys from the United States Department of Justice have been granted additional time for discovery in the case involving former Celsius CEO, between July 25 and Oct. 3 from the Speedy Trial Act calculations. The former CEO of Celsius faces charges of securities fraud, commodities fraud, and wire fraud, which allegedly involve defrauding customers and providing misleading information about Celsius’ business practices.  Description Attorneys from the United States Department of Justice have been granted additional time for discovery in the case involving former Celsius CEO, Alex Mashinsky. U.S. District Judge John Koeltl issued an order on July 25, allowing the exclusion of the period between July 25 and Oct. 3 from the Speedy Trial Act calculations. This Act … Read more Attorneys from the United States Department of Justice have been granted additional time for discovery in the case involving former Celsius CEO, Alex Mashinsky. U.S. District Judge John Koeltl issued an order on July 25, allowing the exclusion of the period between July 25 and Oct. 3 from the Speedy Trial Act calculations. This Act requires a…

TL;DR Breakdown Global corporations exhibit caution in dealing with China’s frail economic recovery post-pandemic. Mixed corporate responses highlight the varied impacts of the country’s economic conditions across sectors. The slower growth rate and ‘tortuous’ recovery path raise concerns. Description A flimsy recovery from the global pandemic has marked China’s economy with uncertainty. This precarious situation has elicited an array of responses from global corporations, spanning sectors from finance to technology. Navigating these choppy economic waters, international firms are embracing caution, particularly in their dealings with the world’s second-largest economy. Mixed responses to China’s economic … Read more A flimsy recovery from the global pandemic has marked China’s economy with uncertainty. This precarious situation has elicited an array of responses from global corporations, spanning sectors from finance to technology. Navigating these choppy economic waters, international firms are embracing caution, particularly in their dealings with the world’s second-largest economy. Mixed responses to China’s economic state The corporate world’s apprehensions are well-justified. For instance, Citigroup has expressed its disappointment as China’s growth rate slackened, following a fleeting surge after reopening. Likewise, Dow Inc.,…

TL;DR Breakdown Island Pay introduces “CiNKO” digital wallet, powered by Circle’s USDC stablecoin, for remittances in Latin America and the Caribbean. The innovative wallet aims to enhance financial inclusion by providing seamless transactions for both banked and unbanked individuals in over 30 countries. The push for stablecoins and decentralized finance protocols in the region is set to revolutionize the remittance landscape, offering potential cost savings of up to 80% compared to traditional methods. Description Island Pay, a Bahamas-based fintech company, has stepped forward with an innovative solution to address the high costs and challenges associated with traditional remittances. However, the company recently unveiled its digital wallet, “CiNKO,” tailored for users in Latin America and the Caribbean. CiNKO will utilize Circle’s USDC stablecoin as its primary currency, offering an alternative … Read more Island Pay, a Bahamas-based fintech company, has stepped forward with an innovative solution to address the high costs and challenges associated with traditional remittances. However, the company recently unveiled its digital wallet, “CiNKO,” tailored for users in Latin America and the Caribbean. CiNKO will utilize Circle’s USDC stablecoin…

TL;DR Breakdown The UK Information Commission is investigating Worldcoin’s data-handling practices amid data privacy and security concerns. Worldcoin’s rise in popularity has led to questions about its extensive collection of personal data during its universal basic income system implementation. The investigation could set a precedent for data privacy concerns in the crypto industry and might also impact other major cryptos. This investigation highlights the need for self-regulation within the crypto industry to address data privacy issues and build trust with regulators and users. Description Worldcoin has emerged as a significant participant in the crypto industry, promising to broaden people’s access to virtual assets and make it easier to participate in the global financial system.  The UK Information Commission, however, is very interested in Worldcoin due to the rising concern over data privacy and security. The commission’s investigation aims to … Read more Worldcoin has emerged as a significant participant in the crypto industry, promising to broaden people’s access to virtual assets and make it easier to participate in the global financial system.  The UK Information Commission, however, is very interested…

TL;DR Breakdown Binance Academy has launched new intermediate online courses following the success of its beginner track, offering comprehensive education on blockchain, cryptocurrencies, DApps, DeFi, NFTs, and crypto trading. The first course, ‘Blockchain Deep Dive’, is available in English, with more courses in multiple languages to be launched in the coming months. Learners receive Certificates of Achievement in PDF and NFT formats upon course completion. Description Binance Academy, the educational arm of the world’s leading cryptocurrency exchange Binance, has announced the launch of its new intermediate online courses. Also, the rollout follows the successful debut of the beginner track in late 2022, which saw about 170,000 learners.  The intermediate track includes six comprehensive courses on blockchain, cryptocurrencies, DApps, DeFi, NFTs, and crypto … Read more Binance Academy, the educational arm of the world’s leading cryptocurrency exchange Binance, has announced the launch of its new intermediate online courses. Also, the rollout follows the successful debut of the beginner track in late 2022, which saw about 170,000 learners.  The intermediate track includes six comprehensive courses on blockchain, cryptocurrencies, DApps, DeFi, NFTs, and crypto trading. …

TL;DR Breakdown Japan has unveiled its new policies which will help the country further the promotion of the Web3 industry. The new policies will foster innovation and inclusivity. Description In a recent annual broad policy outline, Japan’s Prime Minister Fumio Kishida laid out the country’s commitment to enhancing user protection while simultaneously promoting the adoption of Web3 tokens and invigorating the content industry. The announcement was made during the WebX conference held in Tokyo, where the ruling Liberal Democratic Party exhibited its support for … Read more In a recent annual broad policy outline, Japan’s Prime Minister Fumio Kishida laid out the country’s commitment to enhancing user protection while simultaneously promoting the adoption of Web3 tokens and invigorating the content industry. The announcement was made during the WebX conference held in Tokyo, where the ruling Liberal Democratic Party exhibited its support for Web3 technologies and the potential they hold for the nation’s economic future. Japan’s PM reiterates commitment to developing the Web3 Industry Prime Minister Kishida emphasized that Web3 is a vital aspect of the evolving capitalist landscape. With a…