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2022-11-26 15:14:02 Justin Sun, Tron DAO line up to contribute to Binance recovery fund: Exclusive

Blockchain operator Tron DAO and Justin Sun, its billionaire founder, have applied to contribute capital to Binance’s industry recovery fund. The application comes after seven crypto industry heavyweights were unveiled as its initial contributors yesterday. Binance published details of the fund yesterday after CEO Changpeng Zhao had earlier signaled a plan to launch it. Binance poured an initial $1 billion into the vehicle. Meanwhile, Jump Crypto, Polygon Ventures, Aptos Labs, Animoca Brands, GSR, Kronos and Brooker Group agreed to an initial aggregate commitment of around $50 million.

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2022-11-26 09:14:01 UK’s 'biggest ever' scam leads to 100 arrests after police track bitcoin records

More than 100 people were arrested in what the London’s Metropolitan Police calls “the UK’s biggest ever fraud operation” after taking down a fraud website called iSpoof used on 200,000 potential victims in Britain alone. Scotland Yard’s Cyber Crime Unit worked in cross-national cooperation, including authorities in the U.S. and Ukraine, to take down the site this week. In a 20-month period, the Met police claims the operation earned the criminals almost £3.2 million ($3.9 million). Tracing bitcoin records, which was used to pay for iSpoof’s services, allowed the Cyber Crime Unit to narrow down suspects.

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2022-11-26 03:14:01 Jump Crypto, Polygon Ventures, GSR contribute to Binance's $1 billion recovery fund

Binance's industry recovery fund, to which it's already contributed $1 billion, has attracted some big names early on including Jump Crypto, Polygon Ventures and market maker GSR. Binance is looking to amass around $1 billion for its “industry recovery fund,”. The fund was announced last week to help mitigate the fallout stemming from FTX's collapse. Binance's initial commitment of 1 billion BUSD can be verified at the following address. The addresses of other participants will be available in the next week. Binance expects more participants to join soon, with over 150 applications already received. Public addresses must be shared for transparency.

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2022-11-25 21:14:00 EU blockchain infrastructure plan proceeds as parliament passes digital policy

The European Parliament passed a vote on the Digital Decade policy program, which will help businesses and public services digitalize their work and promises support for a “pan-European blockchain-based infrastructure.".The plenary meeting vote passed by 529 to 22 on Thursday. The policy file sets ambitions for the European Union to achieve digitization goals for 2030. It outlines large-scale, so-called “multi-country projects” to achieve the targets covering topics such as building common data infrastructure, beefing up on high-performance computing, rolling out 5G internet corridors and investing in blockchain and web3 solutions.

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2022-11-25 15:14:02 Hodlnaut faces Singapore police investigation for alleged fraud

Crypto lending platform Hodlnaut is under police investigation in Singapore for alleged fraud and cheating three months after freezing client withdrawals and filing for protection from creditors. This may hinder the firm’s recovery from a series of legal and financial complications. Hodlnaut and its leaders are suspected of making "false representations relating to the company’s exposure to a certain digital token," according to a police statement on Wednesday. The beleaguered company has seen a series of liquidity crises and legal complications. Earlier in November, it turned out the Singapore-based crypto lender held assets worth $13.1 million.

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2022-11-25 09:14:02 Binance targets $1 billion for 'industry recovery fund'

Crypto exchange operator Binance is aiming to amass around $1 billion for its recently announced "industry recovery fund.". CEO Changpeng "CZ" Zhao discussed the plan on Bloomberg Television on Thursday, and a Binance spokesperson later confirmed it in a message to The Block. Binance will follow a "loose structure" for the fund where different industry players can contribute as they wish, Zhao said. Contributors will have to send funds to a blockchain address that the public can view, he added. A detailed blog post about the fund is expected to be published soon. The fund will target projects which are otherwise strong, but facing a liquidity crisis.

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2022-11-25 03:14:01 ZkSync passes security audit as it gears up to expand access to the public

ZkSync, an Ethereum scaling protocol, passed its first security audit in preparation of expanding access to users this year. The security audit adds an extra layer of trust in zkSync's network security for builders and users of protocols. The audit allows protocols and users to have more trust in expanding to the new network and transacting on them. OpenZeppelin, a leading crypto auditing firm, conducted the audit, which took place over a four-week period. OpenZeppelin is providing on-demand security feedback in between future audits and has assigned technical and security advisors to oversee zkSync.

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2022-11-24 21:14:02 El Salvador lawmakers to consider regulation for issuing digital assets

El Salvador's Legislative Assembly is considering a long-awaited law aimed at regulating digital asset service providers and issuers in the country. according to a document seen by The Block and corroborated by a broadcast of a Nov. 22 plenary session. Digital asset service providers in El Salvador would have to complete a registration process and follow several rules under the proposed law. These entities would have to provide a list of digital assets they plan to offer, including their "benefits, restrictions and limits." They would also have to demonstrate cybersecurity precautions and customer service capabilities, as well as providing the names and titles of company employees.

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2022-11-24 15:14:02 New York Governor Hochul signs moratorium on proof-of-work mining

New York Governor Kathy Hochul has signed a bill cracking down on crypto mining in the state. The New York Senate already approved the bill in June, but Hochul had until now held off from signing it in the face of fierce industry lobbying, according to Bloomberg. New York Governor Kathy Hochul has signed a bill cracking down on crypto mining in the state. An earlier version of crypto mining bill, which called for a three-year moratorium on a broader scope of mining facilities, died in the Assembly in June of last year. Opponents of the current iteration of the moratorium, such as Republican Assemblyman Robert Smullen, had described it as “anti-tech.”

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