DeFi
Weekly Articles Recap: July 15-19
A recap of the week’s major news.
DeFi Week in Review
As the DeFi and crypto space continues to evolve at a rapid pace, it is essential to stay informed about the latest developments and trends. Our weekly recap offers you a concise yet comprehensive overview of the most important news and trends in the DeFi and crypto space, helping you stay informed and up to date with the latest happenings.
WazirX Reports Breach to FIU, Contacts Over 500 Exchanges After $235 Million Hack
On July 18, 2024, Indian crypto exchange WazirX suffered a security breach resulting in a loss of $235 million for one of its multisig wallets.
WazirX has filed a complaint with the police, informed the Financial Intelligence Unit (FIU) and CERT-In, and initiated additional legal actions. They are working with over 500 exchanges to block the identified addresses and are collaborating with forensic experts and law enforcement to recover the stolen funds and prevent future breaches.
Full story here.
Donald Trump vows to deliver in-person speech at Bitcoin 2024 after surviving attack
Former President Donald Trump is set to deliver the keynote address at the Bitcoin 2024 conference in Nashville, Tennessee, from July 25-27, despite surviving an assassination attempt on July 13 in Pennsylvania. Bitcoin Magazine CEO David Bailey confirmed Trump’s attendance, which had been called into question after the attack at a rally in Butler, Pennsylvania.
Find more information here.
Galaxy Digital, Founded by Michael Novogratz, Acquires $1 Billion in Ethereum Staking Assets
Galaxy Digital Holdings Ltd. (TSX: GLXY) has acquired substantially all of the assets of CryptoManufaktur LLC (CMF), strengthening its Ethereum staking capabilities. CMF’s three-person engineering team, including founder Thorsten Behrens, will join Galaxy’s blockchain infrastructure team. This transaction is designed to strengthen Galaxy’s staking and validation services for digital asset investors, protocols and platforms.
Learn more in the article.
South Korea’s New Cryptocurrency Law Comes Into Effect: What We Know
On July 19, 2024, South Korea’s Virtual Asset User Protection Act (VAUPA) came into effect, aiming to regulate the cryptocurrency market and enhance user security. The country, a major player in the global crypto scene, saw the Korean won surpass the US dollar as the leading fiat currency for cryptocurrency trading in early 2024. The new law aims to balance investor protection with promoting innovation in the cryptocurrency sector.
Details here.
SEC Approves Grayscale and ProShares Ethereum ETFs for Listing on NYSE Arca
The SEC has approved the listing of the Grayscale Ethereum Mini Trust and ProShares Ethereum ETF on the NYSE Arca platform. This decision follows a Form 19b-4 filing, allowing NYSE Arca to begin trading the funds. However, final comments on the ETFs’ S-1 filings are still pending. Grayscale plans to convert its Grayscale Ethereum Trust (ETHE) into an ETF, launching the Mini Trust with 10% of ETHE assets.
Read the full article history.