2025-06-08
A mind-blowing story by @liamvaughanBBG for @business about Ukrainian hackers, the money in information and vulnerabilities in archaic data structures... the SEC does not come out of this shiny, not at all... and it's a sobering reminder how weak legacy systems can be (link [image]
Bloomberg
An in-depth look at the US SEC's EDGAR system breach that was disclosed in 2017, as one of the key hackers, Olga Kuprina, says EDGAR remains a soft target
When a notorious gang of Ukrainian cybercriminals hit a crucial database, the regulator quickly downplayed the breach. Bluesky: @bloomberg.com and @bykenarmstrong X: @noelleinmadri...
2023-06-17
My take on the BlackRock BTC ETF filing: - **BIG** news - BlackRock is the world's largest asset manager - It's not going to happen - BlackRock knows this - Rather, it is sending a political message - Larry Fink is a prominent Democrat https://www.coindesk.com/...
Reuters
BlackRock files a US SEC application to register a spot bitcoin ETF, using Coinbase Custody as its custodian; the SEC has rejected all bitcoin spot ETFs to date
Analyst Calls It a ‘Real Deal’ Spot Bitcoin ETF Filing U.S. Securities and Exchange Commission : iShares Bitcoin Trust The Daily Hodl : Billionaire Mike Novogratz Says BlackRock Fi...
2023-02-13
meanwhile, there's some significant rotation out of BUSD and into USDT going on - seems like less so into USDC, but that's a less liquid pair https://twitter.com/...
Wall Street Journal
Binance says the NYDFS ordered Paxos to stop issuing more of its BUSD stablecoin, which has 6.2M holders; Paxos will continue redemptions and cut Binance ties
Firm will continue to manage redemptions of the product — New York regulators directed a crypto company to stop issuing …
A lot of the reactions I'm seeing to the SEC/Paxos news are along the lines of “but there's no expected profit, so no way are stablecoins a security!!”. Unfortunately, they could be (*does not mean they be!*). Here are a couple of arguments they might use: https://www.wsj.com/...
Wall Street Journal
Binance says the NYDFS ordered Paxos to stop issuing more of its BUSD stablecoin, which has 6.2M holders; Paxos will continue redemptions and cut Binance ties
Firm will continue to manage redemptions of the product — New York regulators directed a crypto company to stop issuing …
The Howey test stipulates there needs to be an expectation of profit for an asset to be a security. That's an important leg, but not a deal-breaker. Courts have shown some leeway in the definition of “profit”, and SEC has suggested this is not a blocker. https://www.coindesk.com/...
Wall Street Journal
Binance says the NYDFS ordered Paxos to stop issuing more of its BUSD stablecoin, which has 6.2M holders; Paxos will continue redemptions and cut Binance ties
Firm will continue to manage redemptions of the product — New York regulators directed a crypto company to stop issuing …
2022-07-09
The striking aspect of the Treasury report is the emphasis on international coordination - a notable departure from its typical US-centric approach, and a signal that the global nature of crypto IS becoming better understood. @CoinDesk https://www.coindesk.com/...
CoinDesk
The US Treasury Department publishes an international crypto regulation framework, the first publication coming from Biden's executive order on digital assets
2022-04-20
So there's less need for a BTC spot ETF now that there are some high-profile listed crypto companies? Nope - this shows that there is **still** a need for spot exposure via listed vehicles that does not expose retail investors to additional risk. https://www.wsj.com/...
Wall Street Journal
Many cryptocurrency stocks have fallen sharply in 2022: Coinbase is down ~40% year-to-date, Marathon Digital is down 30%+, and Riot Blockchain is down 30%+
2021-08-13
“some days, NFT traders and meme-stock speculators seem to be the only people still having fun on the internet” - brilliant 🤣 https://www.nytimes.com/...
New York Times
A look at community NFT projects like Pudgy Penguins, which have become a new kind of financial and social status symbol on the internet
Is this what the metaverse looks like? — Earlier this week, I got attacked by penguins. — Not real ones, mind you.
2021-08-12
This is an extraordinary story - the biggest DeFi hack in history, forensics manages to track the perpetrator, the perpetrator voluntarily returns the funds... all this happening in public. Has anything like this ever happened in traditional markets? https://www.theblockcrypto.com/ ...
The Block
Group behind Poly Network, a cross-chain protocol used for DeFi applications, says a hacker has stolen $611M; one researcher blames the attack on a crypto flaw
Quick Take — Cross-chain protocol Poly Network has been hacked for $611 million. — The team behind the protocol …
This is an extraordinary story - the biggest DeFi hack in history, forensics manages to track the perpetrator, the perpetrator voluntarily returns the funds... all this happening in public. Has anything like this ever happened in traditional markets? https://www.theblockcrypto.com/ ...
The Block
The attacker who stole $611M from Poly Network has now returned over $342M in USDC, BTCB, SHIBA, and others, after saying they were “ready to surrender”
Quick Take — Poly Network attacker has started returning the funds that were stolen in the largest DeFi hack to date.
2021-08-11
This is an extraordinary story - the biggest DeFi hack in history, forensics manages to track the perpetrator, the perpetrator voluntarily returns the funds... all this happening in public. Has anything like this ever happened in traditional markets? https://www.theblockcrypto.com/ ...
The Block
Group behind Poly Network, a cross-chain protocol used for DeFi applications, says a hacker has stolen $611M; one researcher blames the attack on a crypto flaw
Quick Take — Cross-chain protocol Poly Network has been hacked for $611 million. — The team behind the protocol …
This is an extraordinary story - the biggest DeFi hack in history, forensics manages to track the perpetrator, the perpetrator voluntarily returns the funds... all this happening in public. Has anything like this ever happened in traditional markets? https://www.theblockcrypto.com/ ...
The Block
The attacker who stole $611M from Poly Network has now returned over $256M in USDC, BTCB, SHIBA, and others, after saying they were “ready to surrender”
Quick Take — Poly Network attacker has started returning the funds that were stolen in the largest DeFi hack to date.
2021-06-30
Another piece in the prime broker puzzle falls into place... This is potentially a big step, given TP ICAP's access to institutional participants, many of whom would probably be more interested in the volatility opps than the long-term investment thesis. https://www.theblockcrypto.com/ ...
Reuters
TP ICAP, the world's largest interdealer broker, says it is launching a cryptocurrency trading platform with Fidelity Investments and Standard Chartered
2021-05-20
what China crackdown???? China CONFIRMED bans originally implemented in 2013 and 2017 - and the latest wasn't even from the PBOC, it was from the trade associations for internet finance, banking and payments/clearing https://twitter.com/...
CNBC
Bitcoin fell 30% to just over $30K on Wednesday, recovering partially to $38K; Ether, Dogecoin, and others also plunged
Galaxy Digital's Novogratz on bitcoin's plunge: These are setbacks for investor base — Bitcoin plunged to near $30,000 at one point on Wednesday morning …