The Block
Quick Take A crypto whale lost about $35 million tokens on the Blast network during a phishing attack. The victim unknowingly signed a fraudulent “permit” signature, allowing the attacker to drain funds from their wallet.
Bitnomial, a crypto derivatives exchange, sued the U.S. SEC for allegedly asserting its power over the company’s XRP Futures product.According to the filing, the SEC maintained that XRP is a financial security and requested Bitnomial register as a national securities exchange.XRP issuer Ripple and the SEC have been in a years-long dispute over whether the cryptocurrency is an investment contract.
Quick Take The draft closely resembles the Clarity for Stablecoins Act worked on in the House of Representatives by Rep. Patrick McHenry, R-N.C., and Maxine Waters, D-Calif. “It is Senator Hagerty’s version of McHenry-Waters,” spokespeople for Sen. Hagerty said in an emailed statement to The Block.
Kadena’s Annelise Osborne has been on a hiring spree as she seeks to build back momentum behind a once-hot project.The firm is doubling down on real-world assets and tokenization and plans to launch a suite blockchain tools.
Quick Take Tezos “baker” Josh Jarrett and Coin Center argue that the IRS should treat staking rewards as property rather than income. Jarrett sued the IRS in 2021 regarding his 2019 tax bill in a case that was dismissed this year as “moot.”
Quick Take Ripple filed its “notice of cross-appeal” on Thursday to the U.S. Court of Appeals for the Second Circuit. In 2020, the SEC accused Ripple of raising $1.3 billion through the sale of XRP, which it says is an unregistered security.
Quick Take SEC Commissioner Mark Uyeda said the agency’s crypto policies and approach “over the last several years have been just really a disaster for the whole industry.” When asked what the SEC could or should do differently, Uyeda mentioned the “need to lay out some clear guidance and interpretations on what exactly falls within and falls outside of the securities laws.”
The Donald Trump-linked DeFi project World Liberty Financial is looking to raise $300 million at a $1.5 billion valuation, according to a roadmap obtained by The Block.Uniswap Labs unveiled it’s building an Ethereum Layer 2 solution called Unichain via the OP Stack.Optimism rolled out its fifth airdrop, allocating 10.3 million OP tokens to over 54,000 eligible Superchain users.The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Bitcoin slipped after a slightly higher-than-expected U.S. inflation print and a rise in weekly jobless claims.However, analysts remain optimistic about its long-term prospects, particularly with potential Fed rate cuts and the upcoming U.S. presidential election.
Quick Take Former U.S. President Donald Trump’s lead over Kamala Harris jumped to as high as 13% on the blockchain-based prediction platform Polymarket. Trump’s lead appears to be bolstered by mystery trader Fredi9999 accumulating millions of shares wagering the real estate tycoon will be victorious next month.
