UK FCA Targets Young Crypto Investors, DeFi Hacks and More

UK FCA Targets Young Crypto Investors, DeFi Hacks and More News

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Get your daily, bite-sized summary of cryptoasset and blockchain news by investigating the stories that go unnoticed in today’s crypto news.

Investment news

  • The UK Financial Conduct Authority (FCA) has created a £ 11 million (US $ 15.3 million) digital marketing campaign to warn its younger citizens about the risks associated with crypto investments, and that crypto investors “must be prepared to lose all their money.” according to a speech by CEO Nikhil Rathi. He described ‘an explosion among young people speculating on cryptocurrencies’, with 2020 research showing that nearly 2.5 million UK citizens buy cryptocurrencies. They are usually young and from ethnic minorities. “This is a category of consumer that we are not used to: 18 to 30 year olds are more likely to be attracted to social media,” said the FCA.
  • Memory pool data infrastructure company (mempool) Blocknative said it has raised $ 12 million in a new Series A funding round, led by investment firm Rho Capital, bringing the total raised to more than 19 million of dollars. The funds will be used to expand its core data platform, as well as to grow the team, they added.
  • Banking and payments app Revolut has raised $ 800 million in a round of funding led by SoftBank’s Vision Fund investor and Tiger Global Management, Sky News reported. This round raised the company’s valuation to more than $ 27 billion.
  • Investment firm Flores JC has agreed to buy 30% of the currency and cryptocurrency exchange operator Grupo LMAX for USD 300 million in cash, the latter announced. This would take the LMAX valuation to $ 1 billion.
  • Finances CREAM´s Banco de Hierro said that it has facilitated “the first DAO-to-DAO (decentralized autonomous organization) loan”, as well as the first “high-end loan transaction with NFT guarantee”. The Iron Bank will provide a $ 3.5 million credit facility to PleasrDAO using NFT, valued at $ 8 million, as collateral.
  • The US Securities Commission (SEC) has pushed its decision on the WisdomTree bitcoin (BTC) exchange-traded fund (ETF) through this fall. They have also solicited comments from the general public and industry experts on the application and whether the ETF would be a safe product for investors.
  • Non-fungible football token (NFT) trading startup So rare It is expected to raise up to $ 532 million in funds with a valuation of at least $ 3.8 billion, Business Insider reported.

Crime news

  • The US government plans to use encryption tracking as a counterattack to ransomware attacks that request payment in cryptocurrency, Bloomberg reported. Deputy National Security Advisor Anne Neuberger said the White House had created a ransomware task force and that the administration’s strategy included efforts to disrupt ransomware operations, tackle the use of cryptocurrencies in attacks, and work with allies. to encourage other nations not to host attackers.
  • Agricultural performance aggregator DeFi ApeRocket confirmed that it has suffered two flashloan attacks on its BSC platform and its Polygon network this week. The consequences of this double exploitation amounted to USD 260,000 and USD 1 million, they added.
  • Meanwhile, the digital collectibles infrastructure Bondly Finance (BONDLY) said was compromised by an unknown party on July 14. “Our contracts were not compromised, but we are working to understand the point of vulnerability and how it was exploited,” they said, adding that they will need “several days to complete our investigation. »No further details were provided. BONDLY is down 90% in the last day, trading at $ 0.0065.
  • The United States Department of State Rewards for Justice program offers a reward of up to $ 10 million for information leading to the identification or location of any person who, while acting under the direction or control of a foreign government, participates in Malicious cyber activities against critical US infrastructure, the department said, adding that reward payments can include payments in cryptocurrency.
  • Hong Kong authorities arrested four men for an alleged money laundering syndicate involving 1.2 billion HKD ($ 155 million) in cryptocurrency, Bloomberg reported, citing Hong Kong Customs. The men opened several local bank accounts and transacted through a virtual currency exchange platform.

NFT News

  • Luxury brand Dolce Gabbana owns DG Genesi Announced, its first NFT collection in association with luxury marketplace UNXD.

DeFi News

  • Polygon (MATIC) said that its users will now have access to Fireblocks tools, such as an interface to carry out transactions with large amounts of crypto assets between institutions and others, while, “thanks to Fireblocks”, institutions will also have “a familiar interface ». with the DeFi ecosystem on Polygon.

Blockchain news

  • Justus Abonyo, commissioner candidate for the Kenya Independent Electoral and Boundary Commission (IEBC), has called for the adoption of blockchain voting, The Start reported. He said this would reduce the cost of holding an election by up to 300%.

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