TL;DR Breakdown Singapore and the U.S. lead the world in sovereign debt per capita, according to U.N. data. Every American bears a governmental debt burden that is ten times higher than that of a Chinese citizen. Other nations with high sovereign debt per capita include Japan, Canada, Belgium, and several European countries. Description Headlines in the world of finance and economics have been dominated by the latest data on sovereign debt per capita across the globe. Notably, the United States and Singapore have taken the helm in a race no country aspires to lead. This startling revelation comes following a comprehensive examination of United Nations’ data, which underscored … Read more Headlines in the world of finance and economics have been dominated by the latest data on sovereign debt per capita across the globe. Notably, the United States and Singapore have taken the helm in a race no country aspires to lead. This startling revelation comes following a comprehensive examination of United Nations’ data, which underscored that the governmental debt burden borne by every American is staggeringly tenfold compared to…

TL;DR Breakdown Google Cloud plans to launch more Web3-focused products and support Web3 startups. The company is exploring Web3 technologies with financial services and gaming sectors. Google Cloud’s Web3 startup program offers benefits like $200,000 in credits and technical support. Description Google Cloud plans to introduce more Web3-focused products to make its computing offerings the first choice for industry firms and developers. This move follows the recent launch of a startup program aimed at supporting players within the Web3 segment. The tech giant’s cloud computing services unit will continue to build services similar to its Blockchain … Read more Google Cloud plans to introduce more Web3-focused products to make its computing offerings the first choice for industry firms and developers. This move follows the recent launch of a startup program aimed at supporting players within the Web3 segment. The tech giant’s cloud computing services unit will continue to build services similar to its Blockchain Node Engine, according to James Tromans, Google Cloud Web3 head. Helping customers become transformational players in the Web3 ecosystem is now a core part of the…

TL;DR Breakdown Nevada woman, Kristy Lynn Felkins, gets five years for hiring a hitman with Bitcoin. Felkins planned to claim life insurance after her ex-husband’s murder. The case underscores the potential misuse of Bitcoin and the risks of anonymity online. Description In a chilling case that highlights the potential misuse of cryptocurrency, Kristy Lynn Felkins, a 38-year-old woman from Nevada, has been sentenced to five years in prison for attempting to hire a hitman to murder her ex-husband. The case has drawn attention to the dark side of Bitcoin, which Felkins used to facilitate anonymous transactions … Read more In a chilling case that highlights the potential misuse of cryptocurrency, Kristy Lynn Felkins, a 38-year-old woman from Nevada, has been sentenced to five years in prison for attempting to hire a hitman to murder her ex-husband. The case has drawn attention to the dark side of Bitcoin, which Felkins used to facilitate anonymous transactions for her sinister plan. The gruesome details of the plot and Felkins’ guilty plea The narrative began in 2016 when Felkins initiated communication with an entity…

TL;DR Breakdown Italy plans to nominate senior Bank of Italy official, Piero Cipollone, to the ECB’s decision-making body to maintain its influence. If successful, Italy will retain two votes on the ECB’s rate-setting governing council. Cipollone, with strong economics training and experience in payments, may oversee the ECB’s digital euro plan. Description Amid a whirlwind of financial and policy shifts, Italy is set to stand its ground in the European Central Bank’s (ECB) influential circles. With the proposition of senior Bank of Italy official, Piero Cipollone, as its candidate for a spot on the ECB’s decision-making panel, Italy hopes to maintain its influence over the bloc’s monetary … Read more Amid a whirlwind of financial and policy shifts, Italy is set to stand its ground in the European Central Bank’s (ECB) influential circles. With the proposition of senior Bank of Italy official, Piero Cipollone, as its candidate for a spot on the ECB’s decision-making panel, Italy hopes to maintain its influence over the bloc’s monetary matters. Italy’s strategic play Inside sources reveal that Cipollone is the Italian government’s preferred candidate…

TL;DR Breakdown Alphapo, a crypto payment platform, has been hacked and drained of $23 million in Bitcoin, Ethereum, and Tron Alphapo client HypeDrop disables withdrawals Description Alphapo, a crypto payment platform, has been hacked and drained of $23 million in Bitcoin, Ethereum, and Tron. ZachXBT, a crypto analyst, identified and reported the loss from the platform’s hot wallets today. The attackers executed a complex attack on Alphapo’s hot wallets, giving them control over the user funds on numerous blockchains without authorization. … Read more Alphapo, a crypto payment platform, has been hacked and drained of $23 million in Bitcoin, Ethereum, and Tron. ZachXBT, a crypto analyst, identified and reported the loss from the platform’s hot wallets today. The attackers executed a complex attack on Alphapo’s hot wallets, giving them control over the user funds on numerous blockchains without authorization. ZachXBT explains that it was difficult to track the transactions since the stolen money was transferred to Ethereum and bridged to the Avalanche network and Bitcoin. Alphapo client HypeDrop disables withdrawals Alphapo processes payment for gambling services, such as Bovada, Ignition,…

TL;DR Breakdown Judge Analisa Torres ruled that the programmatic sale of XRP tokens through exchanges does not classify them as securities, a significant victory for Ripple in the lawsuit against the SEC. The SEC intends to appeal the Summary Judgment, raising concerns about the potential impact on XRP and its holders. Attorney John Deaton reassures XRP holders that even if the SEC appeals, the Summary Judgment will remain in effect during the potentially lengthy appeal process, providing support for XRP holders. Description In the dynamic world of cryptocurrency, appeal legal battles often shape the landscape, setting precedents that can have far-reaching consequences for the entire industry. One such high-profile case involves the U.S. Securities and Exchange Commission (SEC) and Ripple Labs, the company behind the popular digital asset XRP. In a recent development, Judge Analisa Torres delivered … Read more In the dynamic world of cryptocurrency, appeal legal battles often shape the landscape, setting precedents that can have far-reaching consequences for the entire industry. One such high-profile case involves the U.S. Securities and Exchange Commission (SEC) and Ripple Labs, the…

TL;DR Breakdown Terra Luna Classic community votes in favor of a proposal to create a community-owned wallet, empowering stakeholders to govern the wallet’s infrastructure and reduce reliance on external entities. Following the proposal’s approval, LUNC and USTC tokens experienced substantial price surges, showcasing growing investor confidence in the platform’s decentralized developments. Description In a groundbreaking move, the Terra Luna Classic (LUNC) community has voted to take ownership of the wallet infrastructure development. The proposal, presented by core developer Joint L1 Task Force (L1TF) and spearheaded by LUNC validator Happy Catty Crypto, has officially passed after receiving overwhelming support from the community. This decision marks a significant milestone … Read more In a groundbreaking move, the Terra Luna Classic (LUNC) community has voted to take ownership of the wallet infrastructure development. The proposal, presented by core developer Joint L1 Task Force (L1TF) and spearheaded by LUNC validator Happy Catty Crypto, has officially passed after receiving overwhelming support from the community. This decision marks a significant milestone in the ongoing efforts to decentralize and strengthen the Terra Luna Classic ecosystem. The proposal,…

TL;DR Breakdown Parrot Protocol’s proposal to go tokenless has caused an uproar as investors face an -89% return on investment, questioning the project’s performance and management. Concerns arise over the concentration of token ownership within the team and the fate of unclaimed funds, leading to a lack of trust and transparency among the community. Description In a move that has sent shockwaves through the cryptocurrency community, the Parrot Protocol, a Solana-based liquidity network, has submitted a proposal that could have devastating consequences for its investors. The proposal calls for the redemption of its native PRT tokens for liquid treasury value and the transition to a no-token protocol. This decision has … Read more In a move that has sent shockwaves through the cryptocurrency community, the Parrot Protocol, a Solana-based liquidity network, has submitted a proposal that could have devastating consequences for its investors. The proposal calls for the redemption of its native PRT tokens for liquid treasury value and the transition to a no-token protocol. This decision has not been well-received by the community, with many investors expressing concerns about…

TL;DR Breakdown Ripple plans to expand in the UK and Europe, following a favorable US court ruling. Ripple’s growth strategy extends beyond the US, with a significant workforce increase in the UK and Europe. Description Ripple is setting its sights on expansion in the UK and Europe following a favorable court ruling in the US against the Securities and Exchange Commission (SEC). The company’s European Managing Director, Sendi Young, revealed that Ripple has recently applied for registration as a crypto asset firm with the UK’s Financial Conduct Authority and for … Read more Ripple is setting its sights on expansion in the UK and Europe following a favorable court ruling in the US against the Securities and Exchange Commission (SEC). The company’s European Managing Director, Sendi Young, revealed that Ripple has recently applied for registration as a crypto asset firm with the UK’s Financial Conduct Authority and for a payment institution license in Ireland. The strategic move comes after a US judge ruled on July 13 that Ripple’s sales of cryptocurrency XRP do not constitute investment contracts. This decision led…

TL;DR Breakdown Custodia Bank CEO calls out controversial inclusion in the early adopter’s list. Regulatory transparency and the challenges surrounding FinTechs. Description On the same day the Federal Reserve announced the launch of its FedNow instant payment service, an intriguing revelation caught the attention of Caitlin Long, CEO of Custodia Bank. FedNow allows real-time, always-on money transfers within its interbank system, but Long noticed an unusual aspect among the list of early adopters. Adyen, an Amsterdam-based company, … Read more On the same day the Federal Reserve announced the launch of its FedNow instant payment service, an intriguing revelation caught the attention of Caitlin Long, CEO of Custodia Bank. FedNow allows real-time, always-on money transfers within its interbank system, but Long noticed an unusual aspect among the list of early adopters. Adyen, an Amsterdam-based company, was among the 35 banks and credit unions with access to the service, despite having reportedly received its federal master account in July 2020, a year before being approved to establish a U.S. branch. Custodia CEO questions the situation Long raised a crucial question on…