More money is pouring out from the DeFi market. Tighter security and legislation are needed more than ever before. Check out how much Hackers have stolen and how the Crypto-Industry responding to this threat.
Bitcoin
- Bitcoin Mining gets 7.3% more difficult after latest adjustment. Network is recovering.
- GoSats launches Bitcoin cashback rewards card in India. Users will be able to earn yield paid in BTC on all the rewards they’ve accumulated through the app.
Blockchain
- Stellar blockchain remittance corridor to power Thailand–Europe payments. The new cross-border remittance corridor will be hosted on the Stellar blockchain and serve around 600 million customers.
- Cybercriminals are turning blockchain analytics to their advantage. Antinalysis is a new tool that lets users check which bitcoin addresses may be linked to criminal activity. It runs on Tor and was created by one of the developers of the Incognito Market.
DeFi
- Total value locked in DeFi hits $78B in August. Aave goes first in the list with the most locked value of $14.5 billion.
- Hackers steal over $600M. Biggest in DeFi History. Interoperability protocol Poly Network has been hacked with more than $600 million stolen in the largest decentralized finance security breach in history. The market remains stable, despite the news.
- Poly Network Hacker says exploit was just ‘For Fun’. The Poly Network hacker denies evil intent and says they wanted to teach the project a lesson.
- Binance has halted Korean won trading pairs as part of changes to its operations in Korea. It has also advised all P2P traders to remove trade advertisements in KRW.
- Price of Gold crashes 6% in two hours. The price of gold swiftly crashed below $1,700 per ounce yesterday afternoon.
Ethereum
- Tether is backed by nearly 50% commercial paper says new report. Tether has released an assurance report several months after releasing a breakdown of its reserves in May of this year.
- Celebrity investor Kevin O’Leary aka Mr. Wonderful on ABC TV series Shark Tank recently explained why he is even more bullish on Ethereum than Bitcoin.
- Polygon rallies as whales go into buying spree. MATIC looks primed for further upside as buy orders pile up.
- Ethereum Data Firm Dune Analytics raises $8M from Union Square and others. The “GitHub for crypto analytics” nets $8 million as it plans expansion to cover more chains and metrics.
- $144 million of Ethereum has been burned following the new EIP-1559 network upgrade. Ethereum has seen a rise in value since the new network upgrade was launched. Ether is trading above $3151 today.
Crypto
- Unchanged crypto tax bill will be put to a vote on Tuesday. Senate talks regarding the controversial crypto provisions to the U.S. infrastructure bill have ended without any amendments, suggesting the original bill will be voted on come Tuesday.
- Robinhood completes first post-IPO acquisition with $140 million all-cash deal.
- ConsenSys-incubated crypto wallet Liquality raises $7 million in seed funding.
- Korean banks received a commission from crypto exchanges for real-name verification. They received around $14.7M.
- Bitmex agrees to pay $100 Million to resolve charges with FinCEN and CFTC. Global cryptocurrency derivatives exchange Bitmex has settled charges with the U.S. Commodity Futures Trading Commission and the Financial Crimes Enforcement Network.
- Titan launches actively managed crypto portfolio for US investors. Titan Crypto is attempting to bring professionally managed crypto portfolios to retail investors. The launch of the new offering coincides with a dramatic price rally for crypto assets.
- Kevin O’Leary becomes an FTX shareholder and ambassador, will receive payments in crypto.
- The Security Service of Ukraine has closed several crypto exchangers in Kyiv. Officials say the platforms have been making a million dollars in monthly turnover and allegedly sending money to digital wallets operated by Russian payment providers.
- DBS wins regulatory approval in Singapore for crypto payment services. Starting next Monday, DBS Bank’s crypto exchange will start operating, allowing institutional investors to trade Bitcoin.
- Iran’s tax authority wants to legalize crypto exchanges. The Iranian tax agency has called for establishing a legal framework for crypto trading platforms so they can be taxed properly.
- It’s been a great week for Insured Finance. They’re super satisfied with their development progress and released a detailed report with their weekly newsletter. Further, Insured Finance collaborated with Chainlink and uses their tech as their primary oracle solution.
- Axie Infinity Token up over 60% amid Coinbase listing and Gaming Hype. Axie Infinity’s AXS is now listed on Coinbase, adding to what has been an incredibly bullish week for the currency.
CryptoPunt launches soon and might follow AXS based on the current gaming craze. - South Korea’s crypto regulation is now expanding to foreign businesses. Regulations are getting tighter.
- Vietnam leads crypto adoption in Finder’s 27-country survey. Financial product comparison website Finder dot com has released its latest crypto report, where it evaluated adoption trends across 27 countries in Europe, Asia and the Americas.
- Intel, the world’s largest semiconductor chip manufacturer, has made a minor bet in the future of the cryptocurrency market with an investment in the largest cryptocurrency exchange in the U.S, Coinbase.
- XRP chart triggers sell-off warning after price explodes by 54% in one week. XRP price has bounced back from its July lows, but some indicators are starting to suggest that the rally is due for a pullback.
- More than half of World’s Top 100 Banks have exposure to crypto and blockchain. However, not all of the banks have directly invested in the space, some have exposure via subsidiaries.
- Premier League soccer team Watford to wear Doge logo in new sponsorship deal. Doge logo to replace Bitcoin logo on Watford jersey. Watford to unveil more crypto project in future.
- Bank of Korea to Pilot CBDC on Samsung Galaxy Phones. The central bank is exploring offline crypto payments through Samsung’s Galaxy smartphone range.
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Credit: Telegram VYSYN – Capital News
