The executive power and the ruling party in South Korea have urged the cryptocurrency industry for what officials describe as voluntary regulatory measures, a Korean media report revealed. The call was issued during a consultative meeting devoted to crypto assets. Government Asks South Korean Crypto Sector for Regulatory Proposals Representatives of the South Korean government and the ruling People Power…
Bitcoin (BTC) could be on the verge of a retail major sell-off as exchange inflows spike to almost three-and-a-half-year highs. Data from on-chain analytics platform CryptoQuant shows users of 21 major exchanges sending coins to their wallets en masse June 14. Major exchanges finish up 83,000 BTC in a single day As BTC/USD fell to lows of $20,800, panic appeared…
Confiant, an advertising security agency, has found a cluster of malicious activity involving distributed wallet apps, allowing hackers to steal private seeds and acquire the funds of users via backdoored imposter wallets. The apps are distributed via cloning of legitimate sites, giving the appearance that the user is downloading an original app. Malicious Cluster Targets Web3-Enabled Wallets Like Metamask…
A potential legal battle has been prevented between the Merit Circle decentralized autonomous organization’s (DAO) backing company Merit Circle Ltd and Yield Guild Games (YGG) after the organizations reached a deal after the DAO originally voted to remove YGG. Merit Circle Ltd is a company that created the Merit Circle DAO to help gamers interested in play-to-earn games by lending…
A proposed addition to an existing Brazilian law would grant Brazilians the right to use cryptocurrency as a means of payment while protecting their private keys from being taken by the courts. Federal Deputy Paulo Martins issued the proposal to the country’s legislature on June 10. If passed, the bill would expand both the legal uses of cryptocurrency in Brazil…
Su Zhu, the co-founder of Singapore-based crypto venture capital firm Three Arrows Capital (3AC) has put out a cryptic statement on Twitter in response to swirling rumors that the company is battling against insolvency. Online chatter about 3AC being unable to meet a margin call began after 3AC started moving assets around this week to top up funds on DeFi…
Following the rumors and speculation surrounding the crypto lending firm Celsius, a Wall Street Journal report, quoting “people familiar with the matter,” explains that the company is reportedly hiring restructuring lawyers. Basically, hiring restructuring and insolvency attorneys is one of the first stages of fixing a company’s financial hardship by essentially attempting to avoid insolvency. Report Says Celsius Is Looking…
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United States Securities and Exchange Commission (SEC) Chairman Gary Gensler said he’s worried that a proposed bill to create a regulatory framework for cryptocurrencies could weaken investor protections in the traditional financial market. Speaking at The Wall Street Journal’s CFO Network Summit on June 14 Gensler was asked his thoughts regarding a recent bill introduced on June 7 by Senators…
With the recent market downturn, a lot of candidates and Krakenites have been asking, “What does this mean!?” Our response: “First time?” What it means is it’s once again time to build. It’s time to remember why we’re doing this: The Mission of bringing financial freedom and inclusion to the billions of people suffering from financial exclusion, hyperinflation, and a…
