NewsBriefs - Metaplanet acquires ¥1.9B worth of Bitcoin

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• Feb 25, 4:29 AM The Block

  Ethereum's Pectra upgrade debuts on Holesky testnet

  The Pectra upgrade, significant for Ethereum, was launched on the Holesky testnet, marking a critical phase before its mainnet deployment. Although the upgrade initiated correctly, it faces finalization issues, with ongoing investigations by developers. The next planned testnet deployment is on Sepolia, contingent on resolving Holesky's problems. Pectra aims to enhance Ethereum's scalability, security, and usability with features like increased stake limits and enhanced rollup capabilities.

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• Feb 25, 3:40 AM Metaplanet

  Metaplanet acquires ¥1.9B worth of Bitcoin

  Metaplanet Inc., listed on the Tokyo Stock Exchange, has expanded its Bitcoin holdings by purchasing an additional 135 coins. This acquisition increases its total holdings to 2,235 Bitcoin, as part of the company's Bitcoin Treasury Operations. The recent purchase involved an aggregated investment of 1.939 billion yen at an average price of 14,360,449 yen per token, with the goal of increasing shareholder value through enhanced BTC Yield, a performance metric showcasing growth in relation to fully diluted shares.

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• Feb 24, 9:37 PM The Block

  DOJ and OKX affiliate settle for over $500 million in unlicensed money transmitting case

  The US Department of Justice (DOJ) has finalized a settlement with Aux Cayes FinTech Co. Ltd., an affiliate of crypto exchange OKX. Aux Cayes will pay more than $500 million, including $84 million in penalties and about $421 million in forfeited fees from US customers, for operating an unlicensed money transmitting business. Additionally, OKX has implemented measures to enhance compliance and plans to maintain these improvements.

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• Feb 24, 6:33 PM Bloomberg

  DekaBank introduces crypto trading services for institutional clients

  DekaBank is now providing crypto trading, custody, and management services exclusively for institutional clients, not for private customers. The bank has acquired a crypto custody license under the German Banking Act with approvals from the European Central Bank and the Federal Financial Supervisory Authority (Bafin). DekaBank aims to leverage its high security standards and well-established infrastructure to support institutional crypto activities, distinguishing itself from other competitors. It continues to assess approaches for private customer engagement in the crypto market.

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• Feb 24, 5:49 PM Cointelegraph

  USDC and EURC are the first legal stablecoins recognized under Dubai's crypto framework

  The Dubai Financial Services Authority (DFSA) has approved Circle's stablecoins, USD Coin (USDC) and EURC, as the first recognized tokens under its crypto regime. This allows entities in the Dubai International Financial Centre (DIFC) to utilize these stablecoins in various digital asset applications such as payments and treasury management. This approval marks a significant step in regulatory clarity and progresses the crypto infrastructure in the United Arab Emirates (UAE), supported by recent legal frameworks and licensing systems for stablecoins.

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• Feb 24, 4:00 PM Certora

  Certora open-sources its Prover tool to enhance smart contract security

  Certora has open-sourced the Certora Prover, a leading Formal Verification engine supporting Ethereum, Solana, and Stellar. This move aims to make high-level smart contract security accessible and integrated directly into the development process, promoting efficiency and inclusivity across the DeFi space. The tool, which has secured over $100 billion in total value locked and supports multiple major DeFi projects, now offers an open, community-driven model for securing smart contracts against potential exploits.

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• Feb 24, 3:00 PM The Block

  YZi Labs invests in crypto-AI startup Vana, Changpeng Zhao joins as advisor

  YZi Labs (formerly Binance Labs) has invested an undisclosed amount in Vana, a crypto-AI startup focusing on data ownership, marking its first AI investment since rebranding. Binance co-founder Changpeng 'CZ' Zhao has also joined Vana as an advisor. The investment follows Vana's recent mainnet and token launch, planning to expand its DataDAO ecosystem and develop further AI integration.

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• Feb 24, 2:30 PM PancakeSwap

  PancakeSwap goes live on Monad testnet with ultra-low fees and enhanced features

  PancakeSwap has launched on the Monad Testnet, introducing low trading fees, enhanced liquidity, and greater capital efficiency to the DeFi trading space. This test phase allows users to experience improved trading conditions with fees as low as 0.01%, but it involves using test tokens, meaning no real transactions, rewards, or burns will occur. The full capabilities of PancakeSwap on Monad, supporting both v2 and v3 liquidity options, aim to provide a scalable, fast, and cost-effective trading environment.

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• Feb 24, 2:22 PM Robinhood

  SEC concludes investigation into Robinhood's crypto operations without enforcement

  The US Securities and Exchange Commission (SEC) has completed its investigation into Robinhood's cryptocurrency trading activities and decided not to take any enforcement action. This follows a Wells Notice issued in May 2024, suggesting potential enforcement, which has now been formally closed without further action. Despite differing views on the classification of digital assets under federal securities laws, Robinhood adjusted its offerings to align with SEC guidelines, significantly increasing its crypto trading volume and revenues in the fourth quarter of 2024.

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• Feb 24, 6:15 AM Bitcoin Laws

  Montana’s Bitcoin reserve bill fails to pass second reading, effectively dead

  The Montana House of Representatives failed to pass Bill 429, which aimed to designate Bitcoin as a state reserve asset, with a 41-59 vote. The bill intended to establish a special revenue account for investing in Bitcoin, precious metals, and stablecoins. Lawmakers expressed concerns over the risks associated with crypto investments and disagreed with granting the Montana Investment Council the authority to invest in crypto and NFTs. Despite some support, opposition, citing the speculative nature of the investment, prevailed.

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• Feb 24, 6:00 AM OX.FUN

  Su Zhu-backed OX.FUN denies insolvency amid allegations and asserts user fund safety

  OX.FUN, a crypto exchange, contended with allegations of insolvency and fund withdrawal issues. The exchange accused JefeDAO of manipulating trades to tarnish its reputation and freezing $1 million USDC of JefeDAO's funds as a result. OX.FUN emphasizes user fund security and adherence to its service terms, despite social media claims of financial instability and urging user withdrawals.

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• Feb 23, 3:01 PM Bitcoin Sistemi

  Bybit hack funds laundered through meme coins on PumpFun

  Cryptocurrency detective ZachXBT uncovered that in the recent Bybit hack, stolen Ethereum was laundered through memecoins on the decentralized platform PumpFun. The thief notably launched a memecoin named QinShihuang, generating over $26 million in trading volume. The stolen funds traversed various blockchain networks, resulting in complex laundering paths using multiple wallets and currencies across platforms like Solana and Binance Smart Chain.

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• Feb 22, 3:57 PM The Block

  Bybit announces 10% recovery bounty for $1.4 billion crypto hack funds

  Following the record-breaking $1.4 billion crypto exchange hack, Bybit has launched a recovery bounty program offering 10% of retrieved funds to contributors. Security firms and researchers are encouraged to assist in reclaiming assets stolen by the Lazarus Group, with potential rewards totaling up to $140 million, marking the largest bounty in crypto history. Bybit aims to enhance its security, liquidity, and community trust through this initiative.

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• Feb 20, 6:56 PM Cointelegraph

  Franklin Templeton launches Bitcoin and Ether index ETF EZPZ

  Franklin Templeton has launched a new exchange-traded fund (ETF) called EZPZ, which holds Bitcoin and Ether based on the US CF Institutional Digital Asset Index. The ETF, which constitutes approximately 87% Bitcoin and 13% Ether, aims to expand by including more cryptocurrencies as they become eligible. This initiative provides US investors with direct exposure to these major cryptocurrencies without the need to purchase them individually.

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• Feb 20, 2:14 PM The Block

  AR.IO launches mainnet and token generation event, aiming to revolutionize permanent cloud storage

  AR.IO, an Arweave-based network, launched its mainnet and token generation event, introducing a 'permanent cloud' storage model. The network offers immutable and provable data storage without recurring fees, positioning itself as a competitor to traditional cloud services like Google Cloud and Amazon Web Services. The ARIO token, with a total supply of 1 billion, will facilitate transactions and enable ownership of decentralized domains on the network.

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