AI-powered summaries of the day's top crypto events
A trading company responsible for an AI-driven trade that caused $60 million in crypto liquidations has pledged to cover all losses. The incident occurred when the mark price fell 19% due to a single pre-market trade in Korea, although the company claims its oracle functioned as designed.
South Korea's Financial Services Commission is reportedly drafting a digital asset bill that includes stablecoin and exchange regulations. Meanwhile, opposition lawmakers are advocating for the repeal of a 22% crypto tax slated for 2027, highlighting ongoing regulatory debates in the country.
Researchers have proposed a cryptographic solution that could safeguard Bitcoin and other blockchain wallets from potential quantum computing threats. This approach aims to maintain compatibility with existing addresses while enhancing security against future quantum attacks.
BNY Mellon, the world's largest custodian, is integrating blockchain technology to enhance its transfer agency services. This move aims to provide a digital ownership record for tokenized funds while maintaining its existing system, targeting the $8.6 trillion market.
Hungary has removed mandatory third-party checks for crypto conversions, coinciding with CoinCash receiving the first license to provide digital asset services under the Markets in Crypto-Assets (MiCA) regulation. This marks a significant regulatory shift in the European crypto landscape.
Tether has entered into an agreement with the Nairobi Securities Exchange to explore tokenized securities and blockchain-based market infrastructure. The deal also considers the potential use of USDT as a settlement layer, indicating Tether's expansion into new financial markets.
Ten European financial institutions, including ABN AMRO and DekaBank, have launched RL1, a member-owned blockchain cooperative network. This initiative aims to enhance financial services through collaborative blockchain technology.