California Limits Crypto ATM Daily Withdrawals to $1K
In response to increasing scams, California lawmakers have proposed a new bill titled “Digital financial asset transaction kiosks” that would limit daily crypto ATM withdrawals to $1,000. In addition, beginning in 2025, the law would cap operators’ fees at either $5 or 15%, whichever is greater. If approved, the measure would take effect on January […]
Tether to Publish Real-time Reserve Reports in 2024 – Report
According to Paolo Ardoino, Tether’s CEO, the stablecoin issuer reportedly plans to alter the frequency with which it releases reserve data reports and plans to publish them in real-time by 2024. Bloomberg reported on October 20 that Tether’s chief technology officer and incoming CEO, Paolo Ardoino, stated that the company intends to publish real-time reserve […]
UMG Files Copyright Infringement Lawsuit Against Anthropic AI
Universal Music Group (UMG), Concord Publishing, and ABKCO Music & Records have filed a lawsuit against the artificial intelligence (AI) startup Anthropic for allegedly infringing on their intellectual property rights when training their AI chatbot Claude. The lawsuit was filed on October 18, alleging that Anthropic “illegally” duplicated and disseminated “vast quantities of copyrighted works, […]
DeFi Protocol Hope Lend Loses all 526 ETH After Attack
Hope Lend Ethereum decentralized finance (DeFi) protocol has almost no assets remaining as all 526 Ether in total value locked was emptied in an attack on Oct. 18. According to multiple blockchain security firms, on October 18, two individuals stole from Hope Lend a total of 526 Ether worth $825,357 at publication: a forerunner who […]
Fantom Foundation Loses $550K via Hot Wallet Attack
Upon exposure to vulnerability from hackers, over $550,000 worth of cryptocurrency has been stolen from the Fantom Foundation, the developer of the Fantom network. The foundation confirmed the attack on X and asserted that the majority of the taken funds belonged to other users and that 99.9% of the foundation’s funds remain secure. According to […]