The Block
Quick Take South Korea’s first crypto regulatory framework came into effect today, with a strong focus on investor protection. Local crypto exchanges are now required to safekeep at least 80% of user deposits in a cold wallet.
Quick Take The Winklevoss twins said they each donated $500,000 in bitcoin to Republican candidate John Deaton, who is running against Elizabeth Warren to become U.S. senator of Massachusetts. Tyler Winklevoss said Sen. Warren is crypto’s “public enemy number one.”
Quick Take Donald Trump has invited individuals to pay $844,600 to attend a roundtable at the forthcoming Bitcoin 2024 conference in Nashville in late July. The roundtable appears to be a private fundraising effort during the conference, at which Trump will be a speaker.
Quick Take Indian crypto exchange WazirX exploited for over $230 million Polygon plans to migrate MATIC to POL token on Sept. 4 Multiple Mt. Gox creditors claim brute-force login attempts on accounts The following is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Direxion’s newest leveraged products — REKT and LMBO — are the latest entry of highly volatile but potentially highly profitable ETFs.A leveraged ETFs uses financial derivatives and debt to amplify the daily returns of an underlying security.
Quick Take Truvius has raised $3.2 million in a pre-seed round led by Galaxy Ventures. The crypto investment platform says it is SEC-compliant and has partnered with Anchorage Digital.
Quick Take EigenLayer saw over $68 million worth of net outflows last week. The following is an excerpt from The Block’s Data and Insights newsletter.
Quick Take News outlets reported on Thursday that the pressure is rising for Biden to drop out, which could happen as early as this weekend. Polymarket put the odds of Biden dropping out of the race at 78%, almost double from just a few days ago.
Quick Take 153 wallets connected to LI.FI lost around $12 million worth of USDC, USDT and DAI stablecoins and other cryptocurrencies in an exploit on Tuesday. The team attributed the vulnerability to “an individual human error in overseeing the deployment process.”
The price of bitcoin may have already found a local bottom, as large sellers have already realized losses and exhausted selling power, CryptoQuant analyst said.They also listed various bitcoin valuation metrics that suggest further positive price momentum for the world’s largest digital asset by market capitalization.
