In order to win the favor of regulatory authorities, Tether froze 29.62 million USDT from Cambodian fraud group Huione Group
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Circle’s U.S. dollar stablecoin (USDC) and euro stablecoin (EURC) are now compliant with the European Union’s new stablecoin regulation MiCA. The company has officially started issuing these stablecoins to its European customers starting July 1.
Cryptocurrency acceptance is growing among luxury retailers like Ginza Xiaoma, signaling a shift towards digital payments in high-end markets globally. Despite challenges, increased business adoption and regulatory developments suggest a promising future for crypto as a mainstream payment method.
Cryptocurrency market bounce aligns with stablecoin market cap growth, signaling increased industry inflows. Recent plateau suggests stagnant sentiment. Future stablecoin trends may offer insights into broader market direction.
Cyvers detected a coordinated attack on Sonne Finance and BlockTower Capital, resulting in substantial losses. Sonne's Optimism Market was suspended after a theft of $20 million, while BlockTower suffered partial fund drainage. The incident highlights the ongoing threat to DeFi security.
Besides raising red flags on the stability of the stablecoin market, Deutsche Bank's research analysts expressed particular concern about Tether's prominent position in the stablecoin market, highlighting issues such as speculation and a perceived lack of transparency.
Following convictions for wire fraud, commodities fraud, and commodities manipulation, he could potentially face a maximum sentence of 20 years in prison.
Despite implementing security upgrades following a previous breach, FixedFloat emphasises that user funds remain secure and unaffected.
Binance discontinues TRC-20 USDC support, prompting users to convert holdings. Circle and Tron remain silent on the matter. USDT surpasses $100B market cap amid concerns over asset backing and regulatory scrutiny.
Teams such as Bitlayer and Citrea adopted the BitVM bridge solution, introduced pre-signatures, and combined the idea of channels, allowing users to limit the processing flow after deposit execution before officially depositing, and not giving the cross-chain bridge official the opportunity to misappropriate user deposits.
Circle discontinues support for USDC on Tron blockchain, citing trust and safety concerns. Immediate halt in USDC minting on Tron; retail users urged to transition to other networks. Decision follows scrutiny over Circle's ties to Tron founder amid legal actions.
Stablecoin issuer Circle is bringing USD Coin (USDC) to the Celo (CELO) blockchain, fostering a strategic alliance to enhance stablecoin accessibility. This move aligns with Celo's vision of becoming a leader in real-world adoption, showcasing potential for further innovations in the evolving crypto landscape.
IOTA's ShimmerEVM Bridge, strategically launched amidst the ecosystem's expansion, integrates with LayerZero for enhanced cross-chain connectivity. The move aims to attract developers, boost liquidity, and potentially impact IOTA's undervalued market position.
Cross-chain innovation is being propelled by solutions such as Connext.
USDC has regained its $1 peg.
A blockchain bridge connects two blockchains facilitating secure and verifiable communication between those blockchains through the transfer of information and/or assets.
Industry insiders have pointed out the flaws inherent in multisig security as a way to protect funds in smart contracts, and have offered various alternative solutions.
For all the flak they have been getting recently, cross-chain bridges bring too much value to the blockchain space to ditch them.
At present, the coexistence of multiple chains is the current market pattern.