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FBI Searched Kraken Founder Jesse Powell’s House
Jesse Powell—the founder and former CEO of crypto exchange Kraken—had his home searched by the FBI earlier this year as part of a hacking and cyberstalking investigation involving a nonprofit, making him the latest high-profile cryptocurrency figure to face federal scrutiny.
The nonprofit, an arts group named Verge Center for the Arts accused Powell of...
Twitter vs. Threads: The Competition To Be Everything
Meta launched Threads yesterday and it rapidly became the world's most downloaded mobile app in record time. Twitter, on the other hand, was awarded money transfer licenses in three states, something that may have came out unnoticed by many but it's just as important in this big-tech face-off.
Both companies are in a battle to build what is often referred to as "The Everything App" and it's becoming clearer that the next field where this war will take place is...
How did Do Kwon move US$18 mln in stablecoins while in jail?
On-chain data shows US$18 million worth of USD Coin (USDC) stablecoins were transferred on Monday from a cryptocurrency wallet linked to the imprisoned Terraform Labs chief executive officer Kwon Do-hyeong.
Apparently, Kwon converted the 18 million stablecoins into 4 million Aave Ethereum USDC (aEthUSDC), 12 wrapped Bitcoin (WBTC), 454 Ether, 500 staked Ether (stETH), and 1.5 million DAI stablecoin. Another 5.4 million USDC and 1 million DAI were sent to another address used to serve as a liquidity pool in Curve, a DeFi protocol.
But how was that possible? It is believed that Kwon...
Asia paving the way to tokenization
Tokenization, the process of digitally representing assets, rights, or items of value through a smart contract on a blockchain, has gained significant attention in recent years.
By enabling assets to be divided into smaller tradable units, tokenization has the potential to revolutionize the funding and capital model across many different industries. What may have previously been a non-bankable real-world asset can find its way into the financial ecosystem, becoming accessible to a wider range of investors.
While the United States and others continue to grapple with the legal lexicon and treatment of tokenized assets, Asian countries are providing the breeding ground for innovation in tokenization. Thailand, for example, has...
Over $120M Drained From Multichain Bridge
Multichain, a cross-chain bridging protocol that operates on dozens of blockchains, has been hit by an exploit whose cause is yet to be determined. The team behind the protocol has confirmed that over $120M of digital assets were transferred to unknown wallets and that it is investigating the incident.
While it’s difficult to pin down an attack vector, it's possible that...
WEB2 Disruption has been MASSIVELY accelerated by AI & Friends
Web2 model of providing free service in exchange for data is becoming inadequate for today's reality which is reflected by the recent moves of many tech companies trying to transition to a paid model.
That is a terrible idea and it feels like a step back to the web1 model.
But is there a better solution? Of course. The answer is...
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