AI-powered summaries of the day's top crypto events
Hackers involved in the $387.5 million Bitget breach have turned to Zcash's privacy features to obscure the stolen funds. Approximately 2,746 ZEC, valued at $3.9 million, was moved into Zcash’s Ironwood shielded pool. This move comes as crypto firms increasingly block other laundering routes.
The Commodity Futures Trading Commission (CFTC) has won a $30 million judgment against defendants involved in the Fundsz crypto fraud case. The court ruling follows allegations that the defendants participated in a fraudulent crypto scheme. This marks a significant enforcement action by the CFTC in its ongoing efforts to regulate and police the crypto markets.
The UK's Financial Conduct Authority (FCA) has begun accepting applications for crypto authorization, with a deadline set for February 28, 2027. This move is part of a broader effort to establish a comprehensive regulatory framework for digital assets by October 2027. The new regime aims to provide clearer guidelines and protections for crypto businesses and investors.
Illinois has released draft rules detailing how its 0.2% digital asset transaction tax will apply to stablecoins, DeFi platforms, crypto bridges, and self-custody transfers. This proposal is part of the state's broader strategy to regulate and tax digital asset transactions, potentially impacting how crypto activities are conducted within the state.
Prediction market platform Kalshi is reportedly in advanced discussions to secure new funding, potentially valuing the company at $40 billion. This follows a previous valuation of $22 billion just four months ago, indicating significant growth and investor interest in the platform's innovative approach to prediction markets.