This report will provide some essential and quick news about the cryptocurrencies happening worldwide.
1) Hackers convert LinkedIn into a crypto-scamming tool
Cyberattacks continue to pose a challenge to the crypto industry, as hackers are constantly improving their strategies. A new surge of frauds targeting crypto professionals via LinkedIn has emerged, illustrating the escalating sophistication of these malevolent schemes…[continue reading]
2) Tether is under pressure as the EU MiCA Compliance Deadline approaches
The stablecoin may be removed from European exchanges if it fails to comply with MiCA, a measure that seeks to standardize the market regulations for crypto-assets in the EU. USDT has presently a market capitalization of approximately $140 billion and has accounted for nearly 68% of global stablecoin trading volume in the past year, according to DefiLlama…[continue reading]
3) SEC prioritized Ripple while disregarding Sam Bankman-Fried and Charles Gasparino
The ongoing legal dispute between the SEC and Ripple regarding the XRP token is a result of the SEC’s overreaching in its efforts to regulate the crypto space, while it neglects more pressing matters, such as the Sam Bankman-Fried matter. The potential precedent for future digital asset regulations in the United States could be concerning if Ripple is the primary focus…[continue reading]
4) Brazil will ban individual stablecoin transactions to increase KYC
Brazil is increasing its efforts to strengthen its financial system and protect the Brazilian real from the increasing public distrust. Banco Central do Brasil (BCB) has officially proposed a moratorium on self-custodial stablecoins in an effort to target crypto users, which has sparked a backlash from the community. The objective of the initiative, which is anticipated to be transformed into regulations next year, is to prevent individuals from storing cryptocurrencies such as USDT or USDC in user-controlled wallets that are independent, such as Metamask, Phantom, or Trezor…[continue reading]
5) MIRA charity memecoin raises over $1 million for cancer lab
A Pump.Fun user named Mira created a memecoin that reached a $80 million market valuation before dropping as Chen disclosed his intention to liquidate his supply and donate the entire proceeds to the laboratory. “We will send [the lab] a minimum of $1M, even if we do not sell a single token more,” Chen stated in an update…[continue reading]
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