Voyager Digital Customer Data Reportedly Hacked During Bankruptcy Proceedings
Former clients of Voyager Digital, the bankrupt cryptocurrency lender that collapsed in 2022, may have had their personal information compromised during the company's lengthy bankruptcy proceedings. According to Tree News, customer details were leaked. Voyager was one of the high-profile victims of the terraUSD (UST) crash, which was the first major domino to fall during crypto's nightmare year. Following 3AC's failure to repay the loans, Voyager suspended "trading, deposits, withdrawals, and loyalty rewards" on July 1, and the company filed for Chapter 11 bankruptcy protection just four days later. Voyager Digital had 3.5 million users and $5.9 billion in assets at its peak, with almost all of its users being retail investors with less than $10,000 USD on the platform.
German Regulator BaFin Investigates Unregistered Bitcoin Bank Breaker Website
Bitcoin-bankbreaker.com is under investigation by German regulator BaFin for operating without proper registration as a financial services provider. The website lacks key company details such as a name, legal designation, or physical address. BaFin has warned that any entity offering financial or investment services in the region requires its approval and advises residents to view the register of approved companies on its website. This crackdown on unregistered providers signals a growing acceptance of crypto within the current financial system, as seen in other countries where regulators keep records of crypto exchanges allowed to operate.
Hang Seng Bank Acknowledges Need for Crypto Amid Anticipation of US Interest Rate Increase
The global market is closely watching the US Federal Reserve's interest rate meeting this week, with expectations high for a potential increase. Hang Seng Bank's Director of Commercial Banking, Lin Yansheng, predicts that interest rates will rise but only temporarily. The bank has recognized the need for crypto and has outlined rules for virtual asset businesses to operate, allowing them to open standard banking accounts with an AIP license from the Securities Regulatory Commission. Yansheng acknowledges that Hong Kong's high-interest rates have slowed loan growth, but he expects interest rate cuts next year to improve the situation.
Weekly Crypto Digest: WORLDCOIN’s Token Launch and The Era Lend Attack
2023.07.24–2023.07.30
CoinShares to Launch Hedge Fund Targeting US Institutions in Push into Actively Managed Digital Asset Products
CoinShares, a European crypto ETP specialist, is expanding into actively managed digital asset products, including a hedge fund targeting US institutions. The company has gained recognition for its valuable industry research and operates a venture capital arm that accepts external investments, including contributions from US investors. The company's asset management arm, including assets held within its ETP products, amounted to approximately $3 billion.
US House Financial Services Committee Divided on Crypto Regulation Bills
The United States House Financial Services Committee is divided on how to legislate regulatory clarity for crypto and blockchain technology. During a markup hearing on July 26, the committee discussed several bills, including the Financial Innovation and Technology for the 21st Century Act, Blockchain Regulatory Certainty Act, and Financial Technology Protection Act of 2023, all related to regulating cryptocurrencies.
COCKFIGHTS and Wall Street Memes
COCKFIGHTS token has surged 20,000% in 24 hours, but experts doubt its legitimacy and warn of a possible scam. The token, $COCKS, peaked at $0.2051 before losing momentum. On the other hand, Wall Street Memes (WSM) is gaining attention as a safer investment option due to its solid foundation and tokenization of the GameStop events of 2021. WSM celebrates the internet's victory over capitalism with unlimited financial memes from various projects. However, investing in crypto is risky.
Mark Yusko Predicts Legacy Financial Corporations To Become Crypto Companies As Digital Assets Become Inevitable
Mark Yusko, founder of Morgan Creek Capital, believes that traditional finance companies will eventually transform into digital asset businesses. In an interview with London Real, Yusko compared the current state of blockchain technology and crypto to the early days of the internet and predicted continued evolution in the digital asset space.
Crypto and NFT Project Creators Targeted in Phishing Attacks Using Fake Journalist Identities
Crypto and NFT project creators have been targeted by phishing attacks aimed at gaining access to their social media accounts, which are then used to scam their community members. Scammers are also using the names of journalists and employees from Decrypt and other publications to perpetrate these attacks.
Former CFTC Chair Timothy Massad Calls for Crypto Regulatory Clarity Despite Ripple Court Ruling
Former chair of the CFTC, Timothy Massad, has stated that the recent SEC v. Ripple court ruling may impact the way businesses and lawmakers address crypto. However, he maintains his call for regulatory clarity.
