Editor's Choice
Crypto.com and Dubai Islamic Bank have signed a Memorandum of Understanding to create tokenized Islamic sukuks and sharia-compliant cryptocurrency solutions in the UAE and GCC 🚀
December 30, 2024, Dubai — Crypto.com has signed a Memorandum of Understanding with the largest Islamic bank in the UAE, Dubai Islamic Bank (DIB). The agreement includes the development of tokenized Islamic sukuks and tokenization of real assets using the Cronos blockchain, as well as the promotion of Crypto.com apps and cards through DIB's channels. The partnership aims to integrate sharia-compliant cryptocurrency solutions and financial technologies for users in the UAE and the GCC region.
Elisa Rossi has filed a lawsuit against her ex-husband, Solana co-founder Steven Ekridge, accusing him of appropriating millions of dollars from her SOL tokens through staking after their divorce, without informing her about it ⚖️
Elisa Rossi, the ex-wife of Solana co-founder Steven Ekridge, has filed a lawsuit accusing him of secretly making millions of dollars from her SOL tokens through staking. Rossi claims that after their divorce, Ekridge continued to receive rewards from her tokens without informing her. She only found out about it in May 2024. The amount of stolen funds exceeds $25,000. In response to her requests to return the money, Ekridge refused and mocked her attempts to reclaim her rewards.
The DeFi Education Fund has filed a lawsuit against the IRS over new tax rules for DeFi platforms requiring KYC and transaction data reporting for tax compliance ⚖️
The DeFi Education Fund has filed a lawsuit against the IRS over new tax rules for DeFi platforms that require KYC and transaction data reporting for tax compliance. The lawsuit claims that these rules violate the law by imposing an excessive burden on developers and entrepreneurs. According to the plaintiffs, such measures could significantly slow down innovation in the DeFi space in the U.S., creating additional obstacles for startups. The lawsuit may affect the future development of the crypto industry in the country.
The Securities Commission of Malaysia orders Bybit and its CEO Ben Zhou to cease operations and shut down platforms within 14 working days due to regulatory violations and risks to investors 🚫
The Securities Commission of Malaysia (SC) has ordered Bybit and its CEO Ben Zhou to suspend operations and shut down platforms within 14 working days. The exchange is required to stop advertising and close the support Telegram group. This decision is related to violations of local regulations and risks for investors, as Bybit is not registered as a digital asset exchange. The company and its CEO have been on SC's warning list since 2021. Currently, only six crypto exchanges in Malaysia are officially registered.
Sberbank and two more banks have joined the pilot project of the digital ruble: 15 banks are participating in the testing, and starting from July 2025, all major banks must support the digital ruble 💰
Ahn Song-hyun, the husband of actress Son Yuri, was sentenced to 4.5 years for accepting a bribe of 50 million won for helping to list cryptocurrency on the Bithumb exchange, while Lee Sang-joon and Kang Jong-hyun also received their sentences ⚖️
The Squid token, inspired by the "Squid Game" series, lost 99.99 percent of its value after the developers vanished with $3.38 million, leaving investors unable to sell their tokens 💸
In 2025, the US government will not purchase Bitcoin, but it will continue to use its current stock of 183,850 BTC to create reserves and develop a new Bitcoin reserve policy 💰
Taxes from cryptocurrency mining in Kyrgyzstan decreased by more than 50 percent in 2024, totaling $535,000 instead of $1 million in 2023 due to high operational costs and fluctuations in energy prices ⚡
ChainGPT announced a partnership with DePINed to monetize unused internet resources and computing power through a decentralized network with the $DePIN token on Solana 🚀
The Japanese government rejected the proposal by Senator Satoshi Hamada to include Bitcoin in the country's foreign currency reserves, citing the volatility of cryptocurrencies and a lack of understanding of international trends 🌐
SimpleSwap announced a partnership with Tangem wallet, offering users the ability to exchange cryptocurrencies directly in the wallet with enhanced security and convenience 🔐
The U.S. Department of the Treasury has published final rules on reporting for DeFi participants providing front-end services for trading digital assets, with reporting obligations starting in 2025 📊💻
On December 27, 2024, the U.S. Department of the Treasury published final rules for DeFi, regarding information reporting obligations for participants providing front-end services to interact with DeFi protocols. These participants will be recognized as "brokers" and will be required to report transaction data, similar to traditional brokers. The IRS claims that such services have access to transaction data and can easily meet the reporting requirements. This is the first step, and in the future, the IRS may expand the requirements to other categories of DeFi participants.
The National Bank of Cambodia has approved services with backed stablecoins and banned the use of unbacked cryptocurrencies, such as Bitcoin, for commercial banks and payment institutions 🚫
The National Bank of Cambodia has approved the use of backed stablecoins and banned the use of unbacked cryptocurrencies such as Bitcoin. Starting from December 26, commercial banks and payment institutions may provide services with cryptocurrencies of category 1 after receiving prior approval. Exchange, transfers, and storage of assets are allowed, but the use of customers' cryptocurrencies for their own purposes is prohibited. Cambodia had previously banned cryptocurrency transactions due to risks associated with money laundering and fraud.
The Central Bank of Russia is developing a platform to prevent illegal cryptocurrency transactions, using artificial intelligence to monitor high-risk clients and block suspicious transactions 🔒
The Central Bank of Russia, together with Rosfinmonitoring, is developing a platform to prevent illegal cryptocurrency transactions and other shadow transactions. The system will use artificial intelligence to quickly detect suspicious actions at the personal account level, which will prevent accounts from being used for illegal purposes. Project participants, such as Sber and VTB, will exchange information about high-risk clients. Mechanisms for protecting client rights will allow for the appeal of erroneous account blocks.
Bitwise has filed an application with the SEC to create the Bitwise Bitcoin Standard ETF, which will invest in companies with BTC reserves of at least 1,000 coins and significant income from Bitcoin-related activities 💼
Bitwise has filed an application with the SEC to launch the "Bitwise Bitcoin Standard ETF," which will invest in companies that hold significant BTC reserves or generate income from Bitcoin-related activities. To participate in the fund, companies must have a minimum of 1,000 BTC, a market capitalization of at least $100 million, and liquidity of over $1 million per day. The fund will focus on the size of the companies' BTC reserves, with a 25 percent cap on the share of each participant. In total, 80 percent of the fund's assets will be invested in the stocks of such companies.
Best news of the last 10 days
Strive has applied to create an ETF investing in convertible bonds of MicroStrategy and other companies buying Bitcoin, using derivatives to profit 📈
The scammers use fake Zoom links to steal cryptocurrency: the malware steals data and transfers funds to exchanges like Binance, Gate.io, Bybit, and MEXC 💸
Tether invests in the Arcanum Emerging Technologies Fund II to support innovations in Web3, blockchain, AI, and privacy, including projects utilizing the Tether stablecoin 💡
Bitget is merging its Bitget Token (BGB) and Bitget Wallet Token (BWB) into a single token BGB, enhancing the ecosystem and expanding opportunities for users in DeFi and real life 🔗
The prison sentence of Ryan Salame, the former top manager of FTX, has been reduced by one year: he will be released in March 2031 thanks to good behavior benefits and the "First Step Act" law ⏳
Ryan Salame, the former top manager of FTX, had his prison sentence reduced by one year. Instead of 7.5 years, he will be released in March 2031. The reduction was made possible due to good behavior and benefits under the "First Step Act," which allows inmates to shorten their sentence for good behavior. Salame admitted his guilt for involvement in fraud and the improper use of client funds, which led to the collapse of the FTX cryptocurrency exchange. There are also ongoing rumors about a possible pardon for FTX founder Sam Bankman-Fried.
The WRX token loses 90 percent of its value after being delisted from Binance, resulting in user losses on WazirX of more than 50 crore rupees and a decrease in the exchange’s assets by $50 million 💸📉
After the delisting of the WRX token from Binance, its value dropped by 90 percent, leading to user losses on WazirX amounting to more than 50 crore rupees. The WRX tokens became part of the exchange’s funds after a hacker attack in July, during which cryptocurrencies worth 2000 crore rupees were stolen. According to the latest report, the remaining funds of the exchange total $248.35 million, but their value has decreased by $50 million. The WazirX team is using these funds to cover legal expenses and launch new projects without the consent of users.
The criminals stole $1.2 million through the fake platform "Seed Crypto," using social engineering to gain access to wallets and withdrawing funds via cryptocurrency exchanges 💸
The criminals fraudulently stole around $1.2 million from cryptocurrency wallets by offering fake investments through a counterfeit platform called "Seed Crypto." The website forced users to connect their wallets via WalletConnect or Coinbase Wallet, after which it gained access to the funds. The funds were withdrawn through cryptocurrency exchanges like Binance and OKX. The scam uses social engineering and stablecoins (USDT, USDC), making it difficult to trace and freeze the assets.
Indian tax authorities uncovered a money laundering network through hawala and cryptocurrency transactions, seizing $2 million in cash and cryptocurrency wallets from wedding organizers in Jaipur 💸
The tax authorities of India in Jaipur uncovered a money laundering scheme related to hawala and cryptocurrency transactions. During raids, wedding organizers had $2 million in cash and jewelry seized, as well as three cryptocurrency wallets. The investigation revealed that clients paid in cash and received cryptocurrency through hawala operators. The authorities plan to conduct similar raids in other cities to combat illegal transactions in the wedding industry.