China’s police have uncovered a $1.9 billion USDT underground banking operation going against Chinese crypto bans. On May 15, the Chengdu Municipal Public Security Bureau announced the detection of a huge underground bank operation in a press release. This was the culmination of an investigation that started in November 2022 when the Longquanyi District Branch…
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Two South Korean police officers are standing trial over alleged bribery in an increasingly high-profile crypto fraud case. The newspaper Namdo Ilbo reported that on May 14, the Gwangju District Court’s Criminal Division began the trial of a 59-year-old superintendent police officer. The officer is named in reports as “A” for legal reasons. The court…
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Two Russian teenagers have been arrested in a crackdown on a suspected crypto-powered “money laundering” ring, a police source claimed on May 14. Per the news agency URA, an unnamed “law enforcement agency” member in the Khanty-Mansi Autonomous Okrug said the teenage brothers “attracted other teens” in the region to their scheme. Russian Teens Ran…
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El Salvador took a decisive step into tokenization on Tuesday, unveiling national investment opportunities based on Bitcoin infrastructure. El Salvador Bitcoin: Investing in Development The nation’s National Bitcoin Office launched its blockchain-based capital raise on the Liquid network. Bitcoin-based capital markets have officially launched in El Salvador, the first country to adopt Bitcoin. Well done…
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Paul Ryan – the 54th speaker of the United States House of Representatives – has emerged as a major proponent of stablecoins, with a bright outlook on what regulation could bring to the industry. Paul Ryan Bullish On Stablecoins In an interview with Bloomberg on Friday, Ryan highlighted stablecoins as a potential solution to the…
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Lending protocol Sonne Finance halted operations after a hack drained $20 million in cryptocurrencies, including WETH and USDC. On May 14, around 10:30 pm UTC, Web3 security firm Cyvers detected an ongoing attack on Sonne Finance’s USD and Wrapped Ether (WETH) contracts, at the time they had only stolen $3 in cryptocurrency. ALERTWe have detected…
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Play-to-earn game, Guild of Guardians, is being made available globally on Google Play and the Apple app store, for mobile devices. Guild of Guardians, allows its players to earn $GOG tokens which are ERC-20 tokens that can be used across the Guild of Guardians ecosystem and universe. Play-to-earn games allow players to convert their rewards…
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Paxos, a leading regulated blockchain and tokenization infrastructure platform, appointed Christopher Giancarlo, the former Chairman of the United States Commodity Futures Trading Commission (CFTC), to its board of directors on May 14. Giancarlo, a respected figure in the financial services industry and a passionate advocate for blockchain technology brings decades of expertise to Paxos as…
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Brazilian authorities have upheld a ban on the use of crypto donations to fund political parties and candidates’ electoral campaigns in the country. In a ruling published on its website, the nation’s electoral court (Tribunal Superior Eleitoral, or TSE for short) wrote that it would “maintain” an existing “ban on the use of donations made…
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Deutsche Bank, a German multinational investment bank, joined Singapore’s Monetary Authority of Singapore’s (MAS) Project Guardian on asset tokenization Tuesday in a press release. Project Guardian was launched by MAS in 2022 in an effort to fuel collaboration between MAS and other key players in the financial market. The project focuses on asset tokenization in…
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