Partnerships
Analysis
Metaverse branding’s success depends on its underlying purpose
The growing popularity of the metaverse is driving brands from across sectors to build a presence in the space.
Bankruptcy
Babel lost over $280M trading with customer funds; wants to raise up to $300M
Babel's restructuring proposal showed the proprietary trading team failed to hedge risks and operated without supervision or a trading cap.
Scams
U.S. Senator seeks safeguards disclosures from Apple, Google amid rise in fake crypto apps
Senator Brown asked the companies to provide details about their app store safeguards to thwart fake crypto apps amid rising scams.
Regulation
England Law Commission recommends reforming property laws for digital assets
The Commission proposes creating a new category of "data objects" to ensure that private property laws can be applied to digital assets.
Legal
South Korean officials conclude week-long raid in Terra-LUNA case
The Ministry of Justice has issued a "notification upon arrival" notice to Do Kwon while Daniel Shin is restricted from leaving the country.
Macro
El Salvador seeks to buy back $1.6B of debt to quell default fears
President Nayib Bukele said the country will repurchase all sovereign bonds maturing between 2023 and 2025 at market prices.
Stablecoins
Stablecoin supply saw the largest quarterly contraction in history in Q2
The downturn was triggered by the collapse of TerraUSD in May, which paved the way for market share growth of fiat-backed stablecoins.
Crime
Cryptojacking in finance soared 269% in H1 2022
Global cryptojacking volume grew 30% compared to H1 2021 but the average percentage of victims targetted fell year-on-year.
Stablecoins
Lawmakers delay voting on US bill to regulate stablecoins till September
The draft bill, which is yet to be completed, requires lawmakers to reach an agreement on issues such as custodial wallet standards.
Crime
Attackers stole $6 million from Audius by exploiting a bug in the contract
Blockchain data of the attacker's wallet shows that the stolen funds were exchanged for 704.17 Ether, worth around $1.09 million, on Uniswap.
Scams
Teddy Doge developers pull out $4.5 million in alleged ‘soft rug pull’
Wallets connected to the developers swapped TEDDY tokens for wrapped BNB, which were then converted to BNB and BUSD, and sent to Binance.
Mining
Global Bitcoin mining ‘one of the most sustainable industries globally,’ BTC Mining Council claims
Based on a Q2 2022 BMC survey, the efficiency of miners has increased by 46% year-on-year and by 5,814% compared to 8 years ago.