Saturday, February 17, 2024

U.S. Regulators Can Influence Tether’s Offshore Usage: JPMorgan

Tether’s (USDT) dominant position as the largest stablecoin faces regulatory challenges and risks from various authorities and jurisdictions as they seek to impose more transparency and compliance on stablecoins.

The stablecoin is vulnerable due to its dependence on the American market and pending regulations. Despite Tether’s headquarters not being based in the U.S., regulators can exert influence over its offshore usage through the Office of Foreign Assets Control (OFAC), JPMorgan (JPM) said in a research report Thursday. 

Sunday, February 11, 2024

Blowfish exposes new ‘aqua, vanish’ bit-flip drainers on Solana

 Web3 security company Blowfish recently detected a pair of sophisticated Solana (SOL) transaction drainers capable of executing elusive bit-flip attacks.

The firm’s Feb. 9 analysis details how these drainers — dubbed aqua and vanish — can alter a condition in on-chain data post-transaction signature by the user’s private key. 

These dangerous scripts lurking under the transactional radar are being peddled on the dark web, offering scammers a scam-as-a-service toolkit.

The Blowfish examination highlights the drainers’ adept use of the on-chain authority provided to decentralized apps (dapps), enabling them to switch from transaction facilitators to malicious account-draining entities.

Tuesday, February 6, 2024

Unlicensed crypto exchanges face shutdown in Hong Kong

 Hong Kong’s financial regulator has issued a warning to cryptocurrency exchanges: obtain a license or shut down.

The Securities and Futures Commission (SFC) said that all crypto trading platforms operating in the city must apply for a license by the end of the month. All exchanges that fail to do so will be shut down by May 31.

The SFC’s ultimatum is part of a broader effort to bring cryptocurrency trading into the regulatory fold.

Last June, Hong Kong opened up a licensing regime for crypto exchanges as part of the city’s plans to develop its market into a regional digital assets hub.

Friday, February 2, 2024

Latest Solana Meme Coin ‘LAMBO’ Pumps Up 1000x in 24 Hours and This Low Cap Gem Might Be Next

 LAMBO has become the latest Solana meme coin to enjoy a massive listing on the Raydium DEX this week, with its price experiencing a 1000x surge yesterday.

However, as is usually the case with most Solana meme tokens, LAMBO has since corrected heavily, with its price currently down by 52% in the past 24 hours.

Such a reduction doesn’t bode well for the token’s future, and with other new coins offering stronger fundamentals and more utility, most traders will probably prefer to look elsewhere.

Indeed, one new altcoin gaining lots of momentum right now is Sponge (SPONGE), which is in the process of launching the second version of its token, with millions already staked in it.

Thursday, February 1, 2024

From Crypto to Likes: The New Wave of Digital Asset Flipping Among Crypto Investors

In the ever-evolving world of investment, cryptocurrency enthusiasts are finding a new lucrative avenue – digital asset flipping. This emerging trend sees investors who once solely focused on the volatile crypto markets now venturing into the realm of social media, where flipping digital properties like accounts and pages is yielding substantial returns. Amidst a period of stagnation in the cryptocurrency sector, savvy investors are diversifying their portfolios by tapping into the dynamic world of social media assets. SWAPD, a platform renowned for facilitating large-scale digital transactions, has become a focal point for these investors, where deals ranging from $200,000 to $300,000 are not out of the ordinary.

'Groundhog Day' in Crypto as Bitcoin Again Plunges Following New Record

The world's largest crypto briefly rose above $70,000 Friday, but immediately tumbled about 5% to below $67,000 It's deja vu all ove...