NewsBriefs - 50 Cent's Twitter hacked in Solana meme coin scam

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  • Decrypt

    50 Cent's Twitter hacked in Solana meme coin scam

    50 Cent's Twitter account was compromised to promote a Solana-based meme token called GUNIT in a pump-and-dump scheme. Millions were invested in the token within minutes before plunging as the scam was revealed. The rapid surge and drop in GUNIT’s value exemplify the volatility and risks of investing in crypto tokens associated with celebrity endorsements.

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    • Alon

      Pump.fun co-founder clarifies no plans for token launch amid rumors

      Pump.fun co-founder has dismissed rumors about launching a new token, advising to only trust information from official Pump.fun channels. Despite focusing on product improvement throughout its first year and working on rewarding its users, there's no confirmation of a token launch. Speculation about a potential public offering using the Dutch auction model and collaborations with CEXs arose from an unverified source. Pump.fun has generated substantial fees and has had significant financial transactions with Kraken. Recent legal challenges in the US could also influence the feasibility of a future token issuance.

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    • Cointelegraph

      Coinbase AUM surpasses 21st largest US bank with $420 billion in assets

      Coinbase, a leading global centralized cryptocurrency exchange, now manages over $420 billion in assets, ranking it above the 21st largest bank in the US in terms of assets under management. This comparison highlights Coinbase's significant role and growth within the crypto industry. The company's achievement underscores the expanding influence of crypto platforms in traditional financial sectors.

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    • The Block

      DarkFi alpha release marks the latest project from early Bitcoin developer Amir Taaki

      DarkFi, a privacy-centric crypto initiative led by Amir Taaki, has launched the alpha version of its application, which features strong anonymity through a decentralized architecture and aims to evolve with additional capabilities. The app supports anonymous DAOs, wallets, and operates on a blockchain, emphasizing complete user privacy without registration or identity linkage. Taaki's vision incorporates a user-friendly design accessible across multiple platforms.

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    • Decrypt

      Bitcoin tops $100K before pulling back as US jobs data signals rate uncertainty

      Bitcoin briefly surpassed $100,000 then fell to $98,320 following a mixed US jobs report indicating lower unemployment but slower job growth, which impacted the Federal Reserve's interest rate decisions. Other major crypto a like XRP and Ethereum also showed volatility. The overall market reacted to nuances in US economic indicators, influencing crypto prices and investor sentiment.

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    • The Block

      Japan's financial watchdog requests Apple and Google to block unregistered crypto exchanges

      Japan's Financial Services Agency (FSA) has requested Apple and Google to block five unregistered overseas crypto exchanges from their app stores in Japan. The targeted exchanges include Bybit, MEXC Global, LBank Exchange, KuCoin, and Bitget. Apple has removed the apps following the FSA's request, while Google has not yet responded. The request was made to enforce compliance with Japan's Payment Services Act, aimed at preventing unregistered exchanges from operating in the country.

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    • CoinDesk

      DCG's Barry Silbert touts decentralized AI as the next major crypto innovation

      Barry Silbert, the head of crypto conglomerate Digital Currency Group (DCG), claims that decentralized AI (deAI) could surpass Bitcoin in impact, marking it as the forthcoming significant phase in crypto. Emphasising the synergy between AI and blockchain technology, Silbert believes deAI could offer more equitable dividends compared to existing AI systems by giants like OpenAI. DCG has invested heavily in deAI, including $105 million in various projects and supporting infrastructure like Bittensor's ecosystem. Silbert's insights were part of his Q4 shareholder letter, which also marked 2024 as a year of rebuilding and growth for DCG.

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    • The Block

      SEC solicits public comments on Grayscale's Solana ETF

      The SEC is currently soliciting public comments on a proposal by NYSE Arca to list and trade the Grayscale Solana Trust as an exchange-traded product. Public feedback is requested within 21 days from the Federal Register publication, followed by an SEC decision to approve or potentially disapprove the proposal. This move marks a significant step given previous rejections of similar proposals and reflects new developments under the Genz-led SEC and a pro-crypto US administration.

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    • Cointelegraph

      Utah advances Bitcoin reserve bill, potentially a first for US states

      Utah's House has advanced the Strategic Bitcoin Reserve bill, which aims to allow the state treasurer to allocate up to 5% of certain public funds to BTC and other qualifying digital assets. The bill has passed the House and is now moving to the Senate for further approval.

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    • The Block

      BNB Chain test meme coin spikes after CZ's post, reaching $52 million market cap

      A test memecoin on the BNB Chain named TST surged to a $52 million market cap shortly after a tweet by Binance founder Changpeng 'CZ' Zhao, then stabilized at over $15 million. The increase followed CZ's mention of a tutorial video for launching memecoins on the Four.Meme platform. Although the tweet led to significant trading activity, particularly among Chinese influencers, CZ later stated that TST is not an official BNB Chain token and clarified that neither Binance nor the BNB Chain team holds any TST.

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    • TASS

      Telegram CEO Pavel Durov's trial in France delayed for at least a year

      Telegram founder Pavel Durov, detained in France, will not face trial for at least a year, as reported by Wired citing a prosecutor's spokeswoman. Durov, under court supervision with stringent conditions including a 5 million euro bail, is accused of facilitating criminal activities via his platform, which could lead to a 10-year prison sentence and a 500,000 euro fine. The delay leaves the future leadership of Telegram uncertain.

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    • Decrypt

      Congressmen aim to protect NFTs in revised crypto legislation

      US Congressmen are advocating for the inclusion of the New Frontiers in Technology (NFT) Act in the revised Financial Innovation and Technology for the 21st Century Act (FIT21) to establish legal protections for NFTs within a clearer regulatory framework for digital assets. This integration aims to clarify the regulatory roles of agencies like the Commodity Futures Trading Commission and the Securities and Exchange Commission, amidst broader efforts to secure Senate approval for comprehensive crypto market structure and stablecoin regulations under the Trump administration.

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    • Cointelegraph

      Virtune introduces Avalanche and Cardano ETPs in Nasdaq Helsinki

      Swedish crypto asset manager Virtune has launched new exchange-traded products (ETPs) on Nasdaq Helsinki, offering investors direct exposure to Avalanche (AVAX) and Cardano (ADA) tokens. The Virtune Avalanche ETP mirrors a 1:1 exposure to AVAX, whereas the Virtune Staked Cardano ETP offers similar exposure to ADA, along with an additional 2% annual staking reward. This expansion follows Virtune's recent introduction of five other crypto ETPs in the Finnish market.

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    • The Block

      Jupiter's X account hacked, fake memecoin promoted

      Solana-based DEX aggregator Jupiter's social media account on platform X was reportedly hacked, leading to promotions of a fraudulent memecoin and causing traders to lose millions in Solana tokens. The company is currently working to regain control of the account. The security incident underscores concerns about the adequacy of social media protections in the crypto industry.

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    • The Block

      SEC reassigns key crypto enforcement officer from Ripple case amid policy shift

      The Securities and Exchange Commission (SEC) transferred Jorge Tenreiro, a senior litigator involved in major cases against firms like Ripple and Coinbase, to its computer systems management department. This move coincides with the SEC reducing the size of its crypto enforcement unit under the new, less adversarial administration of President Donald Trump and Acting SEC Chair Mark Uyeda. The changes suggest a strategic shift in the SEC's approach to crypto regulation.

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    • The Block

      Berachain reveals token allocation ahead of mainnet launch and airdrop

      Berachain Foundation disclosed the tokenomics for BERA ahead of its mainnet launch, allocating 48.9% of tokens to the community and introducing an airdrop. The allocation includes funds for ecosystem R&D, community initiatives, and a vesting schedule over three years. BERA, serving as the primary utility and staking token, will be complemented by BGT for governance and economic incentives, available only through engagement activities. The airdrop includes a special allocation for BNB holders and is se

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