Month: September 2023

Tokenization News Roundup: the ‘Next Trillion’

The Takeaway: Banks in particular are increasingly interested in tokenization, and having the interbank communications standard, Swift, already engaged in pilot programs is affirmative. “For tokenization to reach its potential, institutions will need to be able to seamlessly connect with the whole financial ecosystem. Our experiments have demonstrated clearly that existing secure and trusted Swift infrastructure can provide that central point of connectivity, removing a huge hurdle in the development of tokenization and unlocking its potential,” Tom Zschach, chief innovation officer at Swift said in a press statement. Source

Windows tool targeted by hackers deploys crypto mining malware

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Hackers have been using a Windows tool to drop cryptocurrency-mining malware since November 2021, according to an analysis from Cisco’s Talos Intelligence. The attacker exploits Windows Advanced Installer — an application that helps developers package other software installers, such as Adobe Illustrator — to execute malicious scripts on infected machines.  According to a Sept. 7 blog post, the software installers affected by the attack are mainly used for 3D modeling and graphic design. Additionally, most of the software installers used in the malware campaign are written in French. The findings suggest…

Ethereum holdings declined while Bitcoin and USDT steadied

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In Binance’s 10th proof-of-Reserves (POR), Ethereum (ETH) holdings decreased, while Bitcoin (BTC) and Tether (USDT) remained stable or slightly increased. Binance published its 10th POR amid liquidity concerns, offering the public a look into the state of customer assets and holdings. The disclosure reveals mixed trends: Bitcoin and Tether deposits have stayed steady or slightly grown, but Ethereum holdings have dropped by 4.3%. Key figures from Binance’s reserves showed that Bitcoin deposits stood at around 588,000 BTC while there was approximately 3.89 million ETH, down 4.3%. Meanwhile, the exchange held $15.44…

Jay-Z and Jack Dorsey’s firm expands to foster Bitcoin talent in Africa

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The Bitcoin non-profit, Btrust, co-founded by rapper Jay-Z and Block CEO Jack Dorsey, has acquired the Bitcoin talent company, Qala. Following this acquisition, Qala, an organization that provides training for African Bitcoin and Lightning engineers, has been rebranded as the Btrust Builders Program. According to reports on Sep. 6, the deal is a synergistic acquisition to advance Bitcoin development in Africa. While Btrust has the financial resources, it didn’t have the structure to develop the African Bitcoin talent pipeline.  Today, we are thrilled to share a monumental story in our journey. We…

Persistent macro headwinds could delay Bitcoin bull market — ARK Invest

2023 has been a whipsaw year for investor sentiment and even though equities markets have defied expectations, a recent report from ARK Invest highlights reasons why the remainder of 2023 could present several economic challenges.  ARK manages $13.9 billion in assets, and its CEO, Cathie Wood, is a strong advocate for cryptocurrencies. In partnership with the European asset manager 21Shares, ARK Investment first applied for a Bitcoin exchange-traded fund (ETF) in June 2021. Their most recent request for a spot BTC ETF, which is currently pending review by the U.S.…

Cardano Announces Warp Transactions, ADA Remains Stuck In Ranging Market

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Strica, a company working on solutions and use cases for the Cardano blockchain, unveiled a new feature for the smart contract platform via their wallet, Warp Transactions.  According to an official press release, described as a “game changer for token transfers,” Warp Transactions were created to ease the burden of transaction fees paid when sending assets on this network.  Cardano New Feature Eliminates Sender Fees, But There Is A Clause Usually, on Cardano, every token transfer demands the sender to pay a minimum fee of 1.14 ADA to secure against…

Former FTX exec will give up real estate, car and $11M following guilty plea: Report

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Ryan Salame, the former co-CEO of FTX Digital Markets, has pleaded guilty to charges related to defrauding the United States Federal Election Commission (FEC) and conspiracy to operate an unlicensed money-transmitting business. According to a Sept. 7 announcement from the U.S. Justice Department, Salame pleaded guilty before a judge in the U.S. District Court for the Southern District of New York, making him the fourth major player connected to defunct crypto exchange FTX facing criminal charges to do so. The former co-CEO could face years in prison for the campaign…

Ex-FTX Executive Ryan Salame Pleads Guilty to U.S. Criminal Charges

The guilty plea comes less than a month before the trial of Sam Bankman-Fried, the FTX founder, is set to begin. Bankman-Fried, who has pleaded not guilty to all of the charges against him, stands accused of orchestrating a multibillion-dollar fraud that ultimately culminated in FTX’s bankruptcy and the loss of funds for its customers. Source ChargescriminalExecutiveExFTXGuiltyPleadsRyanSalameU.S CryptoX Portal

House committee will reopen discussions on digital dollar in Sept. 14 hearing

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The United States House Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion will be holding a hearing discussing central bank digital currencies (CBDCs) for the first time in months. In a Sept. 7 announcement, Republican lawmakers on the committee said they planned to hold a hearing discussing the implications of releasing a CBDC as well as “private sector alternatives.” The “Digital Dollar Dilemma” discussion will be held on Sept. 14, roughly two weeks before U.S. Securities and Exchange Commission Chair Gary Gensler will reportedly testify before the full…

Stake hack of $41M was performed by North Korean group: FBI

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The $41 million hack of crypto gambling site Stake was carried out by the North Korean Lazarus Group, the Federal Bureau of Investigation (FBI) stated in an announcement on Sept. 7. This group has stolen more than $200 million of crypto in 2023, the announcement stated. [JUST IN] FBI Identifies Lazarus Group Cyber Actors as Responsible for Theft of $41 Million from Stakehttps://t.co/Kq1tpjNuC5 — snailnews (@snailnews_) September 7, 2023 Stake is a crypto gambling platform that offers casino games and sports betting. It was the victim of a cyberattack on…