Bitcoin ATMs, once viewed as a convenient way to buy or sell cryptocurrency, are increasingly becoming prime targets for cybercriminals. The machines, often placed in gas stations and convenience stores across the United States, are susceptible to both digital and physical attacks, according to cybersecurity experts. A recent report from the Federal Trade Commission (FTC) shows a staggering 1,000% increase...
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Worldcoin Faces Legal Scrutiny in Singapore Over Unauthorized Account Sales
Singapore authorities are conducting an investigation into the unauthorized sale of Worldcoin accounts, raising concerns about potential data misuse and... 
Judge Dismisses Dogecoin Lawsuit Against Musk, Cites ‘Unreasonable’ Investor Claims
Elon Musk and Tesla have successfully defeated a lawsuit accusing them of manipulating the price of Dogecoin, leading to $258...
India to Launch Plug-and-Play System for Simplified Cross-Border Payments
India is advancing its efforts to simplify cross-border payments by developing a plug-and-play system. The initiative aims to create a...
North Korean Hackers Target Crypto Firms with Elaborate Scams, FBI Warns
The FBI has issued a new warning about North Korean hackers targeting employees at decentralized finance (DeFi) and cryptocurrency firms. According to the alert dated September 3, these cybercriminals are using sophisticated social engineering techniques to steal funds from these companies. The tactics include posing as reputable figures or offering fictitious job or investment opportunities to plant malware. Employees within...
PayPal’s PYUSD Seeks Traction in Crowded Stablecoin Market
Launched in 2023, PayPal USD (PYUSD) is a dollar-backed stablecoin issued by Paxos Trust Company, a US-regulated crypto custodian. As an Ethereum-compatible ERC-20 token, PYUSD competes in the stablecoin market alongside industry giants such as Tether (USDT) and Circle’s USD Coin (USDC). However, despite PayPal’s significant efforts to broaden PYUSD’s accessibility, the stablecoin remains far behind its more established counterparts....
Tether Expands UAE Market with New Dirham-Pegged Stablecoin
Tether, the largest stablecoin provider in the digital asset industry, has announced plans to introduce a new stablecoin pegged to the United Arab Emirates dirham (AED). The move is part of a collaboration with UAE-based Phoenix Group and Green Acorn Investments, aiming to create a digital representation of the dirham currency that is fully backed by liquid UAE-based reserves. According...
Tron Sees Another $1B USDT Mint as Tether Replenishes Supply
Tether has minted an additional 1 billion USDT tokens on the Tron network, raising the total number of USDT tokens created in the past year to 33 billion. According to blockchain data, the minting occurred on August 20, with the tokens sent to Tether’s treasury wallet. This recent activity is part of a broader trend, with Tether minting 19 billion...
Old Stone Church in Fort Collins Becomes First Tokenized Church in the U.S.
In a groundbreaking move, the Old Stone Church in Fort Collins, Colorado, has turned to cryptocurrency to raise funds for purchasing its historic 19th-century chapel. Led by Pastor Blake Bush, the initiative marks the first instance of a church in the United States being tokenized. The goal is to raise $2.5 million to buy the 11,457-square-foot building, which has served...
UAE Court Recognizes Crypto in Employment Contracts, Setting New Precedent
In a landmark decision, the Dubai Court of First Instance has officially recognized cryptocurrency as a valid form of salary payment under employment contracts. This ruling marks a significant shift in the United Arab Emirates’ legal approach to digital currencies, reflecting the growing acceptance of crypto within the country’s economic and legal framework. The case, identified as number 1739 of...
Bitcoin Price Eyes $56K Support Amid Looming Options Expiry
The price of Bitcoin is facing significant downside risk as over $1.4 billion worth of options contracts are set to expire on August 16, potentially pushing the cryptocurrency below a critical support level of $56,000. With Bitcoin currently trading around $58,101, down 3.6% in the past 24 hours, the market is bracing for heightened volatility as the options expiry looms....
Australia’s Stock Exchange Faces Legal Action for Alleged Misrepresentation in Blockchain Plans
The Australian Securities and Investments Commission (ASIC) has filed a lawsuit against the Australian Securities Exchange (ASX) in Federal Court, alleging that the stock exchange made “misleading and deceptive” statements regarding its now-abandoned blockchain project. The lawsuit claims that ASX’s assurances about the progress and expected go-live date of its blockchain-based system to replace the aging CHESS trading platform were...
Bankrupt 3AC Files $1.3 Billion Claim Against Terraform Labs in Delaware Court
Liquidators of the defunct cryptocurrency hedge fund Three Arrows Capital (3AC) are seeking $1.3 billion in damages from Terraform Labs, alleging that misleading information led to significant losses following the collapse of the Terra ecosystem in May 2022. The claim was filed in a Delaware federal court on August 9, according to Law360. The 3AC liquidators, represented by Russell Crumpler...
Binance and X Blocked in Venezuela as Election Dispute Intensifies
Venezuela’s government has blocked access to the crypto exchange Binance, social media platform X, and other online services amid unrest over disputed presidential election results. On August 9, local anti-censorship organization VE sin Filtro reported a DNS block on Binance, affecting the operation of its website and mobile app. In an August 10 post, Binance’s Latin American-focused account confirmed access...
July Sees Crypto Trading Volumes Rise to $4.94 Trillion Amid ETF Launches
Global crypto trading volumes on centralized exchanges surged by 19% in July, reaching $4.94 trillion, marking the first increase in trading volumes in four months. According to the latest research report from CCData, spot trading volumes rose by 14.3%, totaling $1.44 trillion, while derivatives trading volumes increased by 21%, reaching $3.50 trillion. The derivatives market share climbed to 70.9%, the...
Judge Approves $12.7 Billion Repayment Plan for FTX Creditors
United States District Judge Peter Castel has approved a settlement allowing the now-defunct crypto exchange FTX and its sister trading firm, Alameda Research, to repay $12.7 billion to creditors. This decision resolves a lawsuit filed by the United States Commodity Futures Trading Commission (CFTC) that has been ongoing for 20 months. The settlement, first agreed upon by FTX and Alameda...