NFT lending protocol Bend DAO proposes emergency changes amid credit crisis

On Monday, developers of decentralized nonfungible tokens (NFTs) borrowing and lending protocol Bend DAO proposed new emergency measures in an attempt to stabilize the ecosystem. The same day, it was revealed that the project had just as little as 15 wrapped Ether (wETH) worth $23,715 to pay back lenders. Approximately 15,000 ETH was lent using … Read more

Samsung Securities To Launch Bitcoin, Crypto Exchange – Bitcoin Magazine

Seven large domestic securities companies in South Korea are seeking approval to operate cryptocurrency exchanges. Two companies are listed by name in the report: Mirae Asset Securities and Samsung Securities. The institutional digital asset ecosystem in South Korea is seeing an increase in demand following the local presidential election of Yoon Suk-Yeol. Seven large domestic … Read more

Web 3.0 Regulatory Sandbox Is Launched By Telangana Government

Telangana’s principal secretary for the industries and commerce (I&C) and information technology (IT), Jayesh Ranjan, made an announcement regarding the launch of a Web3.0 Regulatory Sandbox to support the development and promotion of web3.0, startups, innovation, technology, and ecosystem in the state. Announcing the launch, Ranjan said. “In order to help in clearing the confusion … Read more

Why Ethereum “Merger” Will be the Game Changer For Crypto Forever

The most significant shift to Ethereum in its seven-year history is expected to happen in a few weeks. The “proof-of-work” security mechanism used up until now to protect the Ethereum blockchain uses more energy than Belgium as a whole. Adopting a new “proof-of-stake” technique will reduce Ethereum’s energy use by 1,000 starting next month.. However, … Read more

Indonesia Rakes in Approximately $6.8m Monthly from Fintech & Crypto Transaction Taxes

Since the rollout of fintech and crypto transaction taxes in May, Indonesia has amassed nearly $6.8 million, according to the nation’s tax compliance special staffer Yon Arsal. During a recent retail conference, Arsal expressed his optimism that the figure would surge because the taxation was at the initial stages.  The Indonesian finance ministry imposed a … Read more

Correlation Between Performance of Equity Markets and Crypto Assets in Asia Increased: the IMF

The correlation between the performance of Asia’s equity markets and crypto assets has increased as investors from that region piled into crypto in recent years, according to a blog from the International Monetary Fund (IMF). The IMF said that the returns and volatility correlations between Bitcoin and Asian equity markets have increased significantly since 2020, … Read more

Australia Announces ‘Token Swap’ Campaign to Accelerate Crypto Regulation

Australian federal government will implement a “token mapping” exercise to inform future regulation of the country’s crypto assets, laying the groundwork for “determining how crypto assets and related services should be regulated,” according to Bloomberg. Australian Treasurer Jim Chalmers said the government would prioritize the implementation of the “token swap” campaign by the end of … Read more

Hackers Steal Cryptos from General Bytes Bitcoin ATM via Zero-day Bug

General Bytes, the world’s top three manufactuer of cryptocurrency ATMs, has confirmed that its ATMs have been hacked using a zero-day vulnerability in server ports to steal cryptocurrencies from customers. General Bytes operates over 8,000 Bitcoin ATMs in more than 120 countries and regions to allow people to buy or sell over 40 different cryptocurrencies. The company … Read more