Wallets

Security firm discovers $500M vulnerability in Tron multisig accounts

• by admin
• May 31, 2023

After reporting the vulnerability to Tron in February, the researchers highlighted that the issue was promptly addressed and resolved within a few days. NEWS A research team at dWallet Labs has discovered a zero-day vulnerability in Tron multisig accounts, allowing an attacker to bypass the multisignature mechanism and sign transactions with a single signature. In […]

Wallets

BitFlyer adopts crypto deposit limits to comply with Travel Rule

• by admin
• May 31, 2023

While adopting restrictions on transactions between exchanges, bitFlyer still supports transactions to and from self-custody wallets like MetaMask. NEWS Cryptocurrency exchanges in Japan are preparing for the enforcement of the Financial Action Task Force’s Anti-Money Laundering (AML) regulations known as the Travel Rule. On May 30, major Japanese crypto exchange bitFlyer announced the adoption of measures in […]

Wallets

US CFTC issues letter on digital asset derivatives, clearing compliance in 3 areas

• by admin
• May 31, 2023

The letter is a reminder, but a highly specific one that is reminiscent of the SEC’s recent custody rule proposal in part. NEWS The United States Commodity Futures Trading Commission (CFTC) has issued a staff advisory letter to registered derivatives clearing organizations (DCOs) and DCO applicants, reminding them of the risks associated with expanding the […]

Wallets

Hong Kong and UAE central banks collab on crypto rules, fintech development

• by admin
• May 31, 2023

Hong Kong and UAE central banks collab on crypto rules, fintech development The two central banks are aiming to align their financial service sectors and said both share “many complementary strengths.” NEWS Hong Kong and the United Arab Emirates’ (UAE) central banks are looking to collaborate on cryptocurrency regulations and financial technology development. On May […]

Wallets

Could Ben.eth’s PSYOP tokens face legal scrutiny? It depends, say lawyers

• by admin
• May 31, 2023

Michael Kanovitz, a lawyer threatening to file a class action against Ben.eth, says the PSYOP scheme bear similarities to cases that have seen SEC enforcement. FOLLOW UP Ben.eth, the pseudo-anonymous memecoin creator behind at least three controversial token launches in recent weeks, could fall under the crosshair of United States regulators, crypto lawyers suggest. A […]

Wallets

XDC Network gets Japanese foothold via partnership with SBI subsidiary

• by admin
• May 31, 2023

After a fruitful spring season, the XDC Network expands its presence in the Japanese market via SBI VC Trade. NEWS The enterprise hybrid blockchain solution, XDC Network — formerly known as XinFin — has broadened its presence in the Japanese market through a partnership with SBI VC Trade, a cryptocurrency exchange subsidiary of Tokyo-based financial […]

Wallets

‘Is that legal?’ — Elon Musk chides OpenAI’s for-profit pivot after his $50M investment

• by admin
• May 30, 2023

OpenAI was originally formed as a nonprofit entity to ensure it was free to achieve its stated goal and then became a for-profit company back in 2019. NEWS Billionaire Elon Musk has queried whether it’s legal for OpenAI — the firm behind ChatGPT — to become a for-profit business after he invested approximately $50 million […]

Wallets

FTX bankruptcy judge approves sale of LedgerX

• by admin
• May 30, 2023

The judge said he read all the papers and declarations related to the FTX debtors’ motion for the sale of LedgerX and was “satisfied” with the proceedings. FOLLOW UP The judge presiding over crypto exchange FTX’s bankruptcy case has given the green light to a motion allowing the sale of LedgerX. In a May 4 […]

Wallets

FTX advisers billed the bankrupt firm for a whopping $103M in Q1

• by admin
• May 30, 2023

After Sullivan & Cromwell, consulting firm Alvarez & Marsal billed the second-largest amount for its finance and accounting work. NEWS The lawyers and consulting firms assisting cryptocurrency exchange FTX through its bankruptcy proceedings are set to cash in a total of $103 million over the first quarter. March saw five firms — Sullivan & Cromwell, Alvarez & […]

Wallets

Mainstream media renew push for non-US FTX user identities

• by admin
• May 30, 2023

A May 3 filing to the United States Bankruptcy Court brings new objections to a motion that aimed to redact customer identities. NEWS Four media outlets in the United States have continued efforts to get the identities of non-U.S. FTX customers revealed, filing new objections to a previous motion to seal their identities.  Bloomberg, Dow […]