Deutsche Bank Partners With Taurus on Crypto Custody Service
- Germany’s largest bank will use Taurus’ custody and tokenization technology to manage the cryptocurrencies, tokenized assets, and digital assets of its clients.
- Deutsche Bank was one of a few companies to participate in Taurus’ $65 million Series B fundraising round back in February, which was led by Credit Suisse.
Deutsche Bank headquarters in Beijing, China on April 3, 2019. Shutterstock
OneCoin Co-Founder Sentenced to 20 Years in Prison
- Karl Greenwood, co-founder of the OneCoin crypto pyramid scheme, was sentenced to 20 years in prison, and ordered to pay back the $300 million he made in commissions.
- Greenwood was the “global master distributor and the leader of the MLM (multi-level marketing) network” during his time in OneCoin, earning him 5% of all monthly sales.
Vitalik Says X Account Hacked Via SIM-Swap
- Ethereum co-founder Vitalik Buterin has regained his T-Mobile account, which on Saturday was compromised by hackers and used to take over his X account.
- On 9 September, hackers used a SIM-swap attack to take over Buterin’s X account, and siphon close to $700,000 in crypto by promoting a fake NFT giveaway.
CEO of Collapsed Turkish Exchange Sentenced to 11,000 Years in Prison
- Faruk Özer and his two siblings were sentenced to 11,196 years in prison for their involvement in the $2 billion rug pull of Turkish crypto exchange Thodex in 2021.
- Özer fled the country after the collapse of the exchange, but was detained in Albania a year later, and extradited back to Türkiye in April 2023 where he faced seven criminal charges.
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Genesis Sues DCG and DCGI for Over $600M in Unpaid Loans
- Bankrupt crypto lender Genesis is trying to recover around $500 million from DCG, and another 4,550.5 BTC from DCGI, which it had loaned to the two companies in 2022.
- Both DCG and DCGI requested that the debts were converted to open loans on 9 May, but Genesis declined both offers and demanded the repayment of the loans with interest.
BitGo Partners With Hana Bank on South Korean Crypto Custody Business
- One of the largest South Korean commercial banks, KEB Hana Bank, partnered with crypto custodian BitGo in order to set up a new crypto custody venture in the country.
- The new venture, which will use BitGo’s crypto security expertise and Hana’s experience in financial services and compliance, is expected to launch in the second half of 2024.
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PBOC Official Says CBDC Must be Available in All Retail Scenarios
- The head of China’s central bank digital currency institute said the e-CNY has undergone a major upgrade, and should be made available as an option in all retail scenarios.
- The PBOC official noted that platforms can integrate the CBDC in the short term using QR codes, and focus on upgrading their payment tools in the long run.
Office building of the People’s Bank of China. Flickr
DoJ Requests SBF’s Expert Witnesses be Barred From Testifying
- The U.S. Department of Justice has expressed its concerns over Sam Bankman-Fried’s seven expert witnesses, and requested they be barred from testifying on the case.
- The DoJ claimed most of the proposed experts lacked the necessary foundation for their opinions, making them unqualified to be an expert witness.
Former CEO of FTX Sam Bankman-Fried leaves the Federal Court in New York after pleading not guilty, 3 January, 2022.
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Balancer Exploited After Giving Warning
- DeFi protocol Balancer confirmed it was exploited almost a week after disclosing a critical vulnerability affecting several of its boosted pools.
- The platform did its best to mitigate some of the risks but was unable to pause the affected pools, and an estimated $980,000 in DAI were stolen in an attack.
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Genesis Sues DCG and DCGI for Over $600M in Unpaid Loans
- A cyber security incident at bankruptcy service provider Kroll has resulted in the exposure of “non-sensitive” customer data for claimants involved in the FTX and BlockFi cases.
- Both companies confirmed that account passwords, systems, and funds remained safe, but warned customers to be on the lookout for phishing scams.
Binance to Suspend Debit Card Services in Latin America and Middle East
- The company said it will be suspending its crypto-backed debit card service in the Middle East on 25 August, and in Latin America by 21 September.
- Although no reason was given for the decision, the company noted that “less than 1% of users” in those regions will be affected by the change.
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Editors' Picks
SEC Sues Coinbase Over Alleged Securities Law Violations
- The U.S. securities regulator has alleged that Coinbase has been operating as an unregistered securities exchange, broker, and clearing agency since 2019.
- The exchange pointed out that it had met with the SEC 30 times in 2022 seeking regulatory guidance, and that it will “vigorously defend” itself.
Coinbase CEO Brian Armstrong appears on stage at the 2014 TechCrunch Disrupt Europe/London, at The Old Billingsgate on October 21, 2014 in London, England. Anthony Harvey/Getty Images for TechCrunch
SEC Alleges Binance, Binance.US, and CEO Changpeng Zhao Violated Securities Law
- The U.S. regulator has alleged that the platforms offered unregistered securities to the general pubic in the form of the BNB token and BUSD stablecoin.
- Binance was also accused of failing to register as an exchange, and that it had comingled funds between its global and U.S. platforms.
Changpeng Zhao, Co-Founder & CEO of Binance, during day one of Web Summit 2022 at the Altice Arena in Lisbon, Portugal, 2 November, 2022. Ben McShane/Web Summit via Sportsfile
Bybit Becomes Latest Exchange to Exit Canada
- Bybit is the latest exchange following Binance and OKX to announce its departure from the Canadian market due to “recent regulatory development”.
- Canadian nationals will no longer be able to open new accounts starting Wednesday, while existing users have until 30 September to withdraw their assets from the platform.
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Guides
4 Common Password Misconceptions
- Passwords have become a part of our daily life, protecting our most sensitive data, and we have to make sure they are as secure as possible.
- There are many ways a password can become compromised, as such it remains important that we become aware of some of the most common password myths.
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How to Find The Best DeFi Pools For Your Assets
- Investment opportunities in defi are innumerous, but finding the best hasn’t been an easy task thus far.
- Yield Samurai is a decentralized finance data aggregator that helps investors find the highest-yielding pools in a few clicks.
How to Explore Historical DeFi Data
- Yield Samurai is a decentralized finance historical data aggregator.
- It allows people to explore pool prospects on different platforms and apps to find the best place to earn interest on cryptoassets.
Impermanent Loss Explained With Examples & Math
- Learn what impermanent loss is, how it manifests, and how to calculate it.
- We use several examples and formulae for both standard and complex AMM-based pools to examine, explain, and plot impermanent loss.
How to Leverage Yield Farming on Alpha Homora – The Simple Guide
- Learn how Alpha Homora works, how to open a leveraged position and earn more with the same amount of assets, and how to manage your positions.
- We also explain how to choose a pool to leverage, the rules of leveraging on the platform, and how to calculate possible scenarios.
