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NewsBriefs - CoinGecko reports data breach via third-party email platform

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  • Crypto Briefing

    CoinGecko reports data breach via third-party email platform

    CoinGecko, a prominent crypto data aggregator, confirmed a data breach involving unauthorized access to nearly two million contacts through its third-party email platform, GetResponse, on June 5, 2024. The breach led to phishing attacks but did not compromise user passwords or accounts. CoinGecko has alerted affected individuals and advised the crypto community to be vigilant against phishing and unauthorized token airdrops, enhancing security measures in response.

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    • Cointelegraph

      SEC charges Unicoin and executives over $100 million fraud

      The US Securities and Exchange Commission has charged Unicoin and three executives, including CEO Alex Konanykhin, with making false statements about their crypto assets, leading to a fraudulent $100 million fundraising. The SEC's allegations focus on misleading claims related to rights certificates for tokens and stock, and overinflating the value of real estate assets. The charges seek permanent injunctions and the return of ill-gotten gains.

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      Cointelegraph

    • The Block

      CME Group's XRP futures see $19 million in trading on first day, surpassing Solana

      CME Group launched XRP futures, generating over $19 million in notional volume on its first day, outperforming the first-day volume of Solana futures. The new XRP futures are the fourth crypto product by CME Group, following BTC, ETH, and SOL, and come in two sizes, cash-settled according to the CME CF XRP-Dollar Reference Rate. This introduction marks a significant expansion of CME Group's regulated cryptocurrency derivatives offerings, aimed at supporting investor strategies in crypto investment and hedging.

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      The Block

    • The Block

      Standard Chartered sees growing sovereign Bitcoin exposure via MSTR, backing $500,000 target

      Sovereign entities have increased their indirect exposure to bitcoin by purchasing shares in Strategy (MSTR), according to Standard Chartered Bank. This trend underpins the bank's projection of a $500,000 bitcoin price before President Donald Trump's term ends in 2029. The observations were based on recent 13F filings, highlighting a shift from direct bitcoin ETF investments towards significant holdings in MSTR, viewed as an indirect bitcoin proxy. Standard Chartered anticipates this move will broaden institutional attraction to bitcoin, stabilizing its market and pushing prices towards their target.

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      The Block

    • Protos

      SafeMoon's defense claims former CEO's use of liquidity funds was justified

      In the criminal fraud trial of former SafeMoon CEO John Karony, defense attorneys argued that his use of SafeMoon liquidity pool funds was consistent with public statements and necessary for business development. Witnesses supported the defense by stating that the funds' use was expected and acceptable for operational expenses. However, prosecutors challenged this view by highlighting significant price drops following the revealed withdrawals.

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    • The Block

      Binance seeks to dismiss FTX’s $1.76 billion lawsuit citing lack of jurisdiction and baseless claims

      Binance has filed a motion to dismiss FTX's $1.76 billion lawsuit, arguing that the case lacks jurisdiction and is founded on baseless accusations. FTX alleges that Binance and its co-founder Changpeng Zhao contributed to FTX’s downfall by engaging in a malicious scheme, an accusation that Binance vehemently denies. Binance's legal team claims the lawsuit shifts blame from Sam Bankman-Fried, former CEO of FTX and a central figure in the corporate fraud, who has been sentenced to 25 years in prison. The legal battle centers around a previous financial interaction involving the exchange of crypto tokens between the two platforms and subsequent public communications by Zhao that allegedly led to a significant withdrawal of funds from FTX.

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      The Block

    • The Block

      DOJ investigates cyberattack and ransom demand on Coinbase

      The US Department of Justice is investigating a ransomware attack on Coinbase, where cybercriminals demanded $20 million to not release stolen customer data. Coinbase disclosed the breach affected less than 1% of users and estimated response costs between $180 million and $400 million. The DOJ, collaborating with other US and international law enforcement agencies, is handling the probe. Despite the incident, Wall Street analysts view the impact on Coinbase stock as minimal, suggesting the attack is a non-recurring security event.

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      The Block

    • Ethereum Research

      Vitalik Buterin suggests updates to Ethereum's scaling strategy to support personal node operation

      Vitalik Buterin has proposed adjustments to Ethereum's scaling roadmap that emphasize local node usability without compromising traditional Layer 1 (L1) scaling efforts. Recognizing the benefits of users running their full nodes for trustless, censorship-resistant, and private interactions with the blockchain, the proposal includes technological advancements such as more efficient gas pricing, EIP-4444 for reducing storage needs, and the introduction of partially stateless nodes. These nodes would enable users to keep relevant subsets of the blockchain state, enhancing local RPC capabilities while maintaining manageable node sizes as L1 gas limits increase.

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      Ethereum Research

    • Ripple

      Ripple announces Zand Bank and Mamo as first UAE clients for blockchain payments following Dubai license

      Ripple, a leader in digital asset infrastructure, now licensed by the Dubai Financial Services Authority (DFSA), has partnered with Zand Bank and Mamo to use its blockchain-enabled cross-border payment solutions in the UAE. This initiative, which reduces transaction times and fees while increasing transparency, leverages Ripple's new DFSA license for operating end-to-end payment solutions. The partnerships underscore the growing adoption of blockchain for financial transactions in the Middle East, aligning with the region's push towards becoming a global hub for crypto innovation.

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      Ripple

    • Metaplanet

      Metaplanet acquires 1,004 $BTC, boosting holdings to 7,800 Bitcoin

      Metaplanet, listed in Tokyo, has acquired an additional 1,004 Bitcoin for about $97.5 million, increasing its total holdings to 7,800 BTC. The company's total investment in Bitcoin now stands at approximately $726 million, aligning with its strategy to retain Bitcoin as a primary asset on its balance sheet similarly to companies like Strategy.

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      Metaplanet

    • The Block

      Blum co-founder Vladimir Smerkis arrested in Moscow on large-scale fraud charges

      Vladimir Smerkis, co-founder of the crypto gaming app Blum and former general manager for Binance in Russia, has been arrested in Moscow on charges of large-scale fraud. The specific details of the charges are not yet public but are connected to his previous crypto projects, including The Token Fund and Tokenbox. Following the arrest, Blum has distanced itself from Smerkis, stating he has stepped down and is no longer involved with the project. This development raises concerns among users about the future of the project's planned crypto airdrop.

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      The Block

    • The Block

      Crypto trader Cobie joins Paradigm as advisor

      Jordan Fish, known as Cobie, a prominent crypto trader and founder of Echo, has been appointed as an advisor at Paradigm. Matt Huang, cofounder of Paradigm, expressed enthusiasm about bringing Cobie on board, highlighting their previous informal interactions. Cobie's platform, Echo, provides retail investors and crypto community members with early-stage funding opportunities similar to those available to venture capitalists. Paradigm has recently led a $50 million funding round for Nous Research, reinforcing its position in leading innovative crypto projects.

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      The Block

    • Bloomberg

      Galaxy Digital discusses tokenizing shares with SEC

      Galaxy Digital is in discussions with the US Securities and Exchange Commission to potentially tokenize its own stock and other equities using blockchain technology. The firm, which manages about $7 billion in assets, aims to leverage tokenization to facilitate trading and lending in decentralized finance applications. Galaxy is preparing to list on Nasdaq, transitioning from its previous listing in Canada, and is exploring tokenizing a broad range of assets including stocks, fixed income, and ETFs for US markets.

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      Bloomberg

    • The Block

      SEC investigates Coinbase for potential inflation of user metrics during 2021 IPO

      The US Securities and Exchange Commission is probing whether Coinbase misled investors by reporting inflated user numbers when it went public in 2021. Originally, Coinbase disclosed having over 100 million verified users in its registration statement; however, this metric was later omitted from public reports. The inquiry was initiated under the administration of President Joe Biden and persists despite a shift to a more industry-friendly administration under President Donald Trump. Coinbase has since updated its reporting practices to focus on monthly transacting users instead of verified users.

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      The Block

    • The Block

      Sonic Labs secures Singapore High Court order to liquidate Multichain Foundation

      The High Court of Singapore approved Sonic Labs' request to liquidate Multichain Foundation following a $210 million exploit in July 2023. Sonic Labs, aiming to recover funds lost in the exploit, will have KPMG Singapore as joint liquidators. The liquidation was necessitated by Multichain's failure to address its accountability, coupled with the arrest of its CEO Zhaojun He before the exploit.

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      The Block

    • The Block

      Bitwise CIO advocates for diversified crypto investment, drawing parallels to early internet era

      Matt Hougan, CIO at Bitwise, emphasizes the importance of diversified crypto investment, comparing the current situation to investing in the internet in 2004. Although Bitcoin remains the most prominent and liquid crypto asset, akin to 'digital gold,' the recent rise of other assets like Ethereum and the implementation of upgrades such as Ethereum's Pectra illustrate the benefits of a broader investment approach. Hougan argues that just as early internet investors profited from expanding beyond Google to include leaders in other technology sectors, modern crypto investors might achieve better outcomes by diversifying their portfolios across different blockchain technologies and applications.

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      The Block