NewsBriefs - Mt Gox wallet transfers small amount of Bitcoin as repayment process begins

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Mt Gox wallet transfers small amount of Bitcoin as repayment process begins

A Mt Gox-linked wallet transferred 0.021 Bitcoin, worth $1,300, to an unknown address. This small move, possibly a test transaction, coincided with Bitcoin dropping below $64,000. Mt Gox's trustee confirmed the start of the repayment process on July 5. Some users reported receiving Bitcoin and Bitcoin Cash from Mt Gox via Bitbank. The refund is being sent to designated exchanges, not directly to holders. The Mt Gox wallet currently holds over 138,900 BTC, valued at $8.8 billion.

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Nov 14, 6:20 AM Crypto.com

Crypto.com acquires Australian brokerage Fintek Securities to expand financial product offerings

Crypto.com has acquired Fintek Securities Pty Ltd., an Australian brokerage with a Financial Services License, allowing it to expand its offerings to include derivatives, securities, and other financial products. This acquisition, regulated by the Australian Securities and Investments Commission, marks Crypto.com's continued expansion into traditional brokerage capabilities, following a previous acquisition of Watchdog Capital, LLC. CEO Kris Marszalek highlighted this step as part of Crypto.com's strategy to provide a comprehensive set of financial services to its users.

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Nov 14, 4:15 AM Cointelegraph

Phantom releases emergency update for iOS app after wallet resets impact users

Phantom, a provider of a Solana-based DeFi wallet, issued an emergency iOS update after users reported app resets that locked them out of their wallets, requiring recovery phrases to regain access. The company advised users to securely store their seed phrases and pushed a new update to prevent further issues. Responses on social media suggest some users experienced significant losses and were logged out or had their balances deleted following the update. Phantom, being a non-custodial wallet, offers limited recovery options for those who lost their seed phrases.

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Nov 13, 5:40 PM Cointelegraph

Silk Road founder Ross Ulbricht expresses hope for sentence commutation from Trump

Ross Ulbricht, the founder of Silk Road, currently serving a life sentence, expressed hope via social media that President-elect Donald Trump would commute his sentence. Ulbricht was convicted in 2015 for multiple charges including money laundering and narcotics trafficking. Despite prior advocacy and Trump's promises during his campaign, there is skepticism among some in the crypto community regarding Trump's commitment to fulfilling this promise.

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Nov 13, 11:01 AM The Block

Linea announces LINEA token launch for Q1 2025 and new governance association

Linea, incubated by Consensys, is set to decentralize further by establishing the Linea Association in Switzerland to govern its Layer 2 Ethereum network. The Association plans to launch the LINEA token by Q1 2025, advancing Linea's zkEVM mainnet development and decentralization via tokenholder governance. It aims to enable more autonomous community and developer involvement in the protocol's future, with tokens distributed to ecosystem contributors.

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Nov 13, 3:30 AM Bitcoinist

Federal judge denies former Celsius CEO's dismissal request in fraud case

Former Celsius Network CEO Alex Mashinsky faces ongoing legal challenges as a US federal court has denied his motion to dismiss charges of crypto price manipulation and fraud. This ruling by Judge John Koeltl ensures that Mashinsky will contend with all seven charges against him related to his leadership at the defunct crypto platform. The judge dismissed the arguments that the same conduct should not lead to multiple charges under different acts, reinforcing the seriousness of the allegations.

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Nov 12, 9:55 PM Cointelegraph

Italy's government proposes reducing planned crypto tax increase to 28%

Italy's government has revised its plan, proposing to increase the capital gains tax on crypto from 26% to 28%, rather than the previously considered 42%. Finance Minister Giancarlo Giorgetti supported this new proposal, which is still under review by Italian lawmakers.

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Nov 12, 6:39 PM Coindesk

El Salvador and Bhutan see significant growth in bitcoin holdings amid market rally

El Salvador's bitcoin holdings surpassed $500 million, while Bhutan's exceeded $1 billion after a recent bitcoin market rally. Bhutan's BTC now represents over one-third of its GDP, compared to El Salvador's 1.5%. Despite fiscal concerns by the International Monetary Fund, El Salvador continues to show improvement in its financial strategies by intending to buy back $2.5 billion of its dollar-denominated debt.

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Nov 12, 11:40 AM Coindesk

Ethereum researcher Justin Drake unveils Beam Chain, a comprehensive redesign of the consensus layer

Ethereum Foundation researcher Justin Drake introduced the Beam Chain at the Devcon Conference in Bangkok, a significant redesign of Ethereum's consensus layer. This proposal incorporates major upgrades including enhanced block production, staking processes, and integrated zero-knowledge cryptography. Beam Chain aims to consolidate these big changes into one package, improving transaction finality and frequency. Although no immediate changes will occur, this marks a pivotal shift in Ethereum's developmental focus and strategy, potentially addressing technical debts and optimizing future upgrades

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Nov 12, 7:26 AM Cointelegraph

GIGA investor loses $6M in phishing scam involving fake Zoom link

A crypto investor lost $6.09 million after falling victim to a phishing attack through a fake Zoom invitation link. The attack led to the theft and sale of 95.27 million Gigachad (GIGA) tokens, which were exchanged for Solana and then stablecoins, before being transferred across wallets. The investor has reported the incident to the Federal Bureau of Investigation and remains optimistic of recovering the funds amidst an ongoing bull market.

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Nov 11, 2:35 PM The Block

Global crypto funds reach new peak of $116 billion in assets under management

Global crypto funds have seen five consecutive weeks of net inflows, adding $1.98 billion recently, which brings this year's total to $31.3 billion. Following the US election, total assets under management surged to an all-time high of $116 billion. US-based funds contributed the majority with $1.95 billion of the inflows, while Bitcoin and Ethereum products recorded significant inflows of $1.8 billion and $157 million respectively last week. Additionally, blockchain equities added $61 million, showing broad support across crypto assets.

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Nov 10, 3:54 PM Bitcoin Sistemi

Dogecoin surpasses XRP in market cap amid Elon Musk speculation

Dogecoin has overtaken XRP in market cap, reaching $35 billion after a 14% price increase in 24 hours and 55% weekly gain. The surge is linked to speculation about Elon Musk's potential role in a Trump administration, focusing on government efficiency. DOGE's price hit $0.23, a level not seen since November 2021, and it could soon overtake USDC if the momentum continues. Trump has expressed support for Musk to lead a government efficiency commission in a potential second term.

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Nov 10, 2:32 PM Bitcoin Sistemi

North Korean hackers target MacOS crypto users with new malware

North Korean hacker group BlueNoroff has developed new malware targeting MacOS crypto users. The "Hidden Risk" operation uses fake PDF files to install secondary malware, giving hackers remote access to victims' computers. SentinelLabs reports the malware exploits MacOS Zsh configuration files, making it difficult to detect and remove. This sophisticated attack poses a significant threat to crypto firms and individuals, potentially compromising sensitive data and private keys.

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Nov 8, 11:50 AM Deutsche Bundesbank

Germany’s central bank joins Singapore's Project Guardian to boost asset tokenization

Germany’s Bundesbank has joined Project Guardian, Singapore's initiative to advance asset tokenization in financial markets. Deutsche Bundesbank will test an interoperable blockchain platform for tokenized and digital funds, aiming to enhance cross-border collaboration and standardization. This move aligns with Singapore's efforts to promote tokenized asset commercialization and deepen market liquidity. The collaboration is expected to leverage expertise from both countries to explore meaningful applications of asset tokenization in the financial sector.

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Nov 7, 11:41 AM Coindesk

SEC moves to dismiss three of Kraken's defenses in US lawsuit

The SEC has asked a California court to dismiss three key defenses from crypto exchange Kraken in an ongoing lawsuit. The regulator rejects Kraken's claims about unclear securities laws for crypto, lack of fair notice, and the major questions doctrine. The SEC sued Kraken in November 2023 for operating as an unregistered securities platform, alleging unlawful facilitation of crypto asset securities trading since 2018. The motion aims to narrow the scope of discovery and prevent repeated litigation of the same issues.

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Nov 7, 9:31 AM Cointelegraph

SEC commissioner Mark Uyeda likely to become next chair under Trump

With Donald Trump’s victory in the 2024 US presidential election, SEC Commissioner Mark Uyeda is now a top contender for SEC chair. Uyeda, known for his criticism of current chair Gary Gensler's crypto policies, advocates for a regulatory approach with less emphasis on enforcement. Although some speculated about Commissioner Hester Peirce's chances, experts suggest her appointment is unlikely. Trump is expected to prioritize rolling back the current administration's stringent crypto regulations and enforcement actions against major firms.

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