TOP 5 LOSERS
Stake.com, an online crypto casino, confirmed a breach in its ETH/BSC hot wallets, resulting in a $40 million theft. Users' funds were assuredly secure, and other wallets (BTC, LTC, XRP, EOS, TRX) continued functioning unaffected.
Finance Minister Nirmala Sitharaman emphasized the need for a global framework to address crypto asset challenges at the Global Fintech Fest. She also highlighted cyber threats and stressed cross-border fintech collaboration for a resilient financial ecosystem.
Hana Financial Group's KEB Hana Bank is partnering with BitGo for late 2024, aiming to enhance trust and consumer protection in South Korea's digital asset market. The move aligns with the nation's growing crypto awareness and regulatory efforts.
North Korea-affiliated hackers have reportedly stolen $200 million in cryptocurrency this year, comprising over 20% of global crypto theft. Experts believe these funds are likely funding the nation's nuclear programs.
Solana's surged following Visa's announcement of expanding its stablecoin capabilities on the Solana network. This move aims to enhance cross-border settlement speed and provide modern fund transfer options for Visa clients. Solana, known for its speed and cost-effectiveness, is gaining developer favor.
Grayscale's legal team, represented by Davis Polk and Munger Tolles & Olson, has urged the US SEC to proceed with its proposed Spot Bitcoin BTF and arrange a meeting with its staff promptly. This follows a court ruling that deemed the SEC's rejection of Grayscale's spot Bitcoin ETF as inadequately justified, requiring the SEC to review the application.
Alpha Protocol Ventures (APV), backed by crypto investors, established a $20 million fund for Web3 projects, focusing on blockchain gaming, collectibles, DeFi, and more. They aim to support undervalued projects and innovative blockchain solutions. VC interest in Web3 remains strong in 2023, with other firms like Animoca Brands, Vessel Capital, and Bitget announcing substantial funds for Web3 investments.