TL;DR Breakdown Partnership: TOKI, Noble, and Progmat, along with major Japanese banks, are collaborating to introduce fully collateralized Japanese stablecoins to the Cosmos ecosystem. Cosmos Integration: The stablecoins will initially be available on the Cosmos Inter-Blockchain Communication (IBC) protocol. Description Japan, known for its technological advancements and progressive regulatory environment, is making significant strides in the cryptocurrency landscape. In a groundbreaking partnership, the country’s largest banks have joined forces to bring stablecoins to the Cosmos ecosystem. This collaboration involves TOKI, a prominent cross-chain bridge provider and partner of Progmat, and Noble, a token issuance protocol. … Read more Japan, known for its technological advancements and progressive regulatory environment, is making significant strides in the cryptocurrency landscape. In a groundbreaking partnership, the country’s largest banks have joined forces to bring stablecoins to the Cosmos ecosystem. This collaboration involves TOKI, a prominent cross-chain bridge provider and partner of Progmat, and Noble, a token issuance protocol. Together, they aim to introduce fully collateralized Japanese stablecoins to the Cosmos network, offering a secure and regulated means of digital asset transactions. Contents hide 1 The…

TL;DR Breakdown Bitfinex has recovered $314K and 6.9 Bitcoin Cash from the 2016 hack, representing a fraction of the $3.6 billion stolen. The exchange continues to work with law enforcement to retrieve additional funds and plans to distribute recovered assets to holders of Recovery Right Tokens. Description Bitfinex, a prominent cryptocurrency exchange, has made significant progress in recovering funds lost during a notorious 2016 hack. In collaboration with the United States Department of Homeland Security and other law enforcement agencies, the exchange has retrieved $312,219 in cash and 6.9 Bitcoin Cash, valuing approximately $1,951 today.  However, this recovery represents only a fraction … Read more Bitfinex, a prominent cryptocurrency exchange, has made significant progress in recovering funds lost during a notorious 2016 hack. In collaboration with the United States Department of Homeland Security and other law enforcement agencies, the exchange has retrieved $312,219 in cash and 6.9 Bitcoin Cash, valuing approximately $1,951 today.  However, this recovery represents only a fraction of the total losses suffered by Bitfinex’s clients, who were targeted in the hack and had approximately 120,900 BTC, currently…

TL;DR Breakdown Multichain MPC bridge platform witnesses abnormal outflows, with over $100 million withdrawn from various contracts on Ethereum. Concerns of a potential exploit arise as on-chain investigators and observers speculate about the cause, while the Multichain team initiates investigations into the matter. Description In recent developments, the Multichain MPC bridge platform has witnessed significant outflows, with fears emerging of a potential exploit. Withdrawals exceeding half of the deposits in certain Multichain contracts on Ethereum have raised concerns among on-chain investigators and observers. This article delves into the details of the situation, explores the affected platforms, and highlights the … Read more In recent developments, the Multichain MPC bridge platform has witnessed significant outflows, with fears emerging of a potential exploit. Withdrawals exceeding half of the deposits in certain Multichain contracts on Ethereum have raised concerns among on-chain investigators and observers. This article delves into the details of the situation, explores the affected platforms, and highlights the ongoing investigations. Contents hide 1 Unprecedented Outflows from Multichain MPC Bridge Platform 2 Speculations and Investigations Sparked by Abnormal Transactions 3 Technical Challenges…

TL;DR Breakdown Nexo, a digital assets institution, successfully completes an independent Type 2 SOC 2 audit, demonstrating its commitment to client data security and trust. The audit, conducted by A-LIGN, confirms Nexo’s adherence to stringent global data privacy and protection regulations. Nexo’s achievement reinforces its position as a trusted institution, prioritizing security and transparency for its rapidly expanding international clientele. Description Nexo, a prominent digital assets institution, has achieved a significant milestone by successfully completing an independent Type 2 SOC 2 audit. This accomplishment underscores Nexo’s dedication to maintaining robust client data security and delivering a secure experience for its rapidly expanding international clientele. The comprehensive SOC 2 audit, conducted by A-LIGN, a trusted technology-enabled security … Read more Nexo, a prominent digital assets institution, has achieved a significant milestone by successfully completing an independent Type 2 SOC 2 audit. This accomplishment underscores Nexo’s dedication to maintaining robust client data security and delivering a secure experience for its rapidly expanding international clientele. The comprehensive SOC 2 audit, conducted by A-LIGN, a trusted technology-enabled security and compliance partner, involved a thorough…

TL;DR Breakdown dYdX has made significant progress to achieve decentralization after it announced the launch of its V4 testnet for the public. The platform continues to make strides toward the future. Description Decentralized crypto exchange dYdX has announced the launch of the public testnet for its V4 iteration, marking the completion of a significant milestone in its development roadmap. The release of V4 on the mainnet is expected to bring about “full decentralization” of the exchange. dYdX announces public testnet for its V4 iteration The platform operates … Read more Decentralized crypto exchange dYdX has announced the launch of the public testnet for its V4 iteration, marking the completion of a significant milestone in its development roadmap. The release of V4 on the mainnet is expected to bring about “full decentralization” of the exchange. dYdX announces public testnet for its V4 iteration The platform operates on the Ethereum and StarkEx networks, distinguishing itself as a decentralized exchange (DEX) since it does not hold custody of users’ funds. However, it differs from automated market-maker DEXs like Uniswap, which rely on on-chain…

TL;DR Breakdown ANZ Bank is moving towards a cashless future, reducing over-the-counter cash withdrawals. Critics argue that this move could harm older individuals and those with disabilities who rely on physical cash. The banking industry sees this as a necessary step towards a safer, more efficient future. Description Navigating the digital transformation, ANZ, one of Australia’s top banking institutions, is shifting towards a cashless future. This strategic move has been highlighted by a dramatic reduction in over-the-counter cash withdrawals at many of its branches. The decision, controversial in nature, has stimulated quite a buzz, as customers grapple with the rapidly advancing financial technology … Read more Navigating the digital transformation, ANZ, one of Australia’s top banking institutions, is shifting towards a cashless future. This strategic move has been highlighted by a dramatic reduction in over-the-counter cash withdrawals at many of its branches. The decision, controversial in nature, has stimulated quite a buzz, as customers grapple with the rapidly advancing financial technology landscape. The first steps towards a cashless future ANZ’s leap towards digitization did not happen overnight. This journey began…

TL;DR Breakdown Mastercard introduces AI-powered “Consumer Fraud Risk” tool to combat payment fraud and scams in the UK. The solution leverages large-scale payments data and real-time analysis to identify and prevent various types of scams before funds leave victims’ accounts. Early adoption by TSB shows significant success, with potential savings of nearly £100 million across the UK, prompting other banks to embrace the solution. Description Financial services provider Mastercard is leading the charge against payment fraud and scams with its AI-powered tool called “Consumer Fraud Risk.” The solution, now live in the UK, leverages Mastercard’s latest AI capabilities and its unique network view of account-to-account payments to help banks predict and prevent various types of scams. According to an announcement, … Read more Financial services provider Mastercard is leading the charge against payment fraud and scams with its AI-powered tool called “Consumer Fraud Risk.” The solution, now live in the UK, leverages Mastercard’s latest AI capabilities and its unique network view of account-to-account payments to help banks predict and prevent various types of scams. According to an announcement, Mastercard has…

TL;DR Breakdown Bitcoin miners are winning big in terms of revenue following a massive boost in transaction fees. Miners experience increased demand for BRC-20 tokens. Description Bitcoin miners have experienced a significant increase in funds from transaction fees in the past quarter, generating a multimillion-dollar windfall driven by the popularity of BRC-20 tokens and the introduction of Ordinals, according to Coin Metrics. BRC-20 tokens boost Bitcoin miner’s revenue In its latest “State of the Network” report, the crypto analytics firm revealed … Read more Bitcoin miners have experienced a significant increase in funds from transaction fees in the past quarter, generating a multimillion-dollar windfall driven by the popularity of BRC-20 tokens and the introduction of Ordinals, according to Coin Metrics. BRC-20 tokens boost Bitcoin miner’s revenue In its latest “State of the Network” report, the crypto analytics firm revealed that Bitcoin miners earned $184 million in transaction fees from April to June, marking a notable shift in the previously tepid fee market. While this figure may appear small compared to the overall $2.4 billion in Bitcoin mining revenue during that…

TL;DR Breakdown Twitter’s owner Elon Musk threatens legal action against Mark Zuckerberg’s Meta over Threads. Twitter alleges that Meta poached its former employees, leveraging their knowledge of Twitter’s trade secrets to develop Threads. Threads gained 30 million sign-ups within its first day, marking it as a significant competitor to Twitter. Description The social media battleground is ablaze as Twitter’s maverick owner, Elon Musk, sets his legal crosshairs on Meta’s Mark Zuckerberg over the creation of a new app – Threads. In less than a day from its launch, Threads, a text-based platform echoing Twitter’s design, found itself embroiled in a fiery intellectual property dispute with the … Read more The social media battleground is ablaze as Twitter’s maverick owner, Elon Musk, sets his legal crosshairs on Meta’s Mark Zuckerberg over the creation of a new app – Threads. In less than a day from its launch, Threads, a text-based platform echoing Twitter’s design, found itself embroiled in a fiery intellectual property dispute with the Twitter behemoth. Musk’s Twitter strikes back Thread’s sudden emergence onto the social media scene, boasting a…

TL;DR Breakdown The Florida Office of Financial Regulation (OFR) is contemplating taking action against Bittrex, a cryptocurrency exchange based in the United States. On April 17, the U.S. Securities and Exchange Commission (SEC) filed a complaint against the exchange.  Bittrex surrendered its Florida money transmitter license on April 30, and on May 8, the exchange filed for bankruptcy.  Description The Florida Office of Financial Regulation (OFR) is contemplating taking action against Bittrex, a cryptocurrency exchange based in the United States, which recently filed for Chapter 11 bankruptcy protection. The OFR’s assistant general counsel, Brandon Greenberg, stated in a filing with the U.S. Bankruptcy Court for the District of Delaware on July 5 that the … Read more The Florida Office of Financial Regulation (OFR) is contemplating taking action against Bittrex, a cryptocurrency exchange based in the United States, which recently filed for Chapter 11 bankruptcy protection. The OFR’s assistant general counsel, Brandon Greenberg, stated in a filing with the U.S. Bankruptcy Court for the District of Delaware on July 5 that the state regulator had received information about Bittrex’s alleged…