Month: August 2022

Robinhood’s Crypto Unit Fined $30 Million By New York Financial Regulator

Adewumi Victor

The New York Department of Financial Services, or NYDFS, has fined Robinhood’s cryptocurrency arm $30 million for suspected anti-money laundering violations, cybersecurity, and consumer protection regulations. NYDFS Superintendent Adrienne Harris announced on Tuesday that Robinhood Crypto would pay a $30 million penalty to the state “for major violations in the areas of bank secrecy act/anti-money laundering responsibilities” and cybersecurity issues that allegedly breached New York regulations. Robinhood’s crypto subsidiary, according to Harris, will also be compelled to employ an independent consultant to examine the firm’s compliance and rehabilitation activities.  …

AVAX Struggles To Hold Above Resistance As It Eyes $40

jamesobande

Avalanche (AVAX) struggles to hold above key support that will set the tone for a rally to the $40 mark region anticipated by many. The price of Bitcoin (BTC) saw a retracement as it could not break and hold above important support that corresponds with the daily 50 exponential moving average (EMA). BTC’s unable to hold that region has led to AVAX struggles to form good support.  Avax Weekly Chart Analysis Avax Weekly Chart Analysis | Source: AVAXUSDT On Tradingview.com The weekly chart for Avax shows a downtrend reversal to…

Solana Suffers Exploit — Close to 8,000 SOL-Based Wallets Have Been Compromised – Altcoins Bitcoin News

Jamie Redman

The Solana smart contract project is suffering from issues once again after it was discovered that close to 8,000 Solana-based wallets have been compromised. Solana is asking victimized wallet owners to complete a survey and the team stressed that “engineers are investigating the root cause.” Solana Investigates Massive Wallet Exploit, Root Cause of the Hack Is Still Unknown After the chain had halted on a few occasions in the past, Solana users are now dealing with an extensive wallet vulnerability that affected specific wallet software such as Phantom and Slope.…

Cryptopunk’s Volume Increased by 1,847% After Tiffany & Co. Launched a Special NFT Line.

Adewumi Victor

Anyone can purchase the newly released NFTiff, but Punk holders who already own one can redeem it for a custom pendant. The trading volume of CryptoPunks, one of the sector’s most popular nonfungible token (NFT) collections, increased by 1,847% in 24 hours on Monday. Punk NFTs valued at about $1,226.68 Ether (ETH) were traded during that period. The rise in demand appears to be related to the unveiling of Tiffany & Co.’s own NFT collection, which includes a special perk for Punk holders. The collection, dubbed “NFTiffs,” comprises 250 digital…

Nomad Bridge Drained of Nearly $200M in Exploit

Anthony B

On Twitter, @samczsun, a researcher at crypto investment firm Paradigm, explained that a recent update to one of Nomad’s smart contracts made it easy for users to spoof transactions. This meant users were able to withdraw money from the Nomad bridge that didn’t actually belong to them. Author: Sam Kessler Source link

Coinbase Prime grows its staking offering with ETH | by Coinbase | Aug, 2022

Coinbase

Tl:dr: We’re launching Ethereum staking to US domestic institutional clients on Coinbase Prime. Using our industry-leading cold storage, clients can now generate yield by staking ETH. By Aaron Schnarch, Vice President of Product, Custody Fully-integrated staking on Coinbase Prime Coinbase Prime provides institutions with an end-to-end staking experience. Clients can create a wallet, decide how much to stake, and initiate staking from the ETH asset page on their Coinbase Prime account. Securing client funds is our highest priority. We hold withdrawal keys in our cold storage custody vault at all…

The Number of Euro-Pegged Stablecoins Has Swelled 1,683% Since 2020 – Altcoins Bitcoin News

Jamie Redman

While the stablecoin economy is worth roughly $153 billion today, euro-backed stablecoin issuance has increased 1,683% from $31.9 million worth of euro-based tokens on January 3, 2020, to today’s $569 million. Since November 2021, the number of euro stablecoins swelled by 85.34%, but from January 2022 to today, euro stablecoin numbers dropped 14.17% during the last seven months. Euro-Pegged Stablecoins Cross Half a Billion in Value Since the Start of the Year Today, most of the stablecoin economy’s value is based on tokens backed by the U.S. dollar, but a…