LayerZero Finds Over 800k Addresses in Sybil Self-Reporting
LayerZero Labs announced the end of its Sybil self-reporting phase, identifying 803,093 addresses as potential Sybil addresses. Affected users received only 15% of their anticipated tokens. The conclusion of the Sybil self-reporting phase for LayerZero Labs’ solution to combat Sybil activity, also known as “airdrop farming,” has been formally announced on the X platform. LayerZero […]
Chinese Police Crack Down on $1.9B USDT Underground Banking Scheme
Chinese police in Chengdu discovered a $1.9B underground banking scheme using Tether stablecoin and arrested 193 suspects in 26 provinces. The Chinese police have uncovered an underground financing scheme worth $1.9 billion that involved the well-known stablecoin Tether. The illicit financial activities were conducted in Chengdu, China, utilizing the USDT stablecoin as a medium of […]
Senators Propose $32 Billion Investment Plan to Boost US Tech Growth
Schumer-led bipartisan senators propose a $32 billion investment over three years to develop AI and enforce safeguards, aligning with recent bipartisan efforts in AI regulation and promotion. Four senators representing both parties are guided by Majority Leader Chuck Schumer in a bipartisan group. Their recommendation is that Congress allocate a minimum of $32 billion over […]
Swiss Leaders Aim to Implement Global Crypto Reporting Framework
Switzerland’s Federal Council proposes adopting global standards for crypto tax reporting through a public consultation to ensure parity with traditional assets and enhance tax transparency. In an effort to “ensure equal treatment” with conventional assets, Switzerland’s highest authority has issued a public consultation regarding its intentions to adopt global standards for crypto tax reporting. The […]
New Crypto Law in Oklahoma Safeguards Miners
Oklahoma Governor Kevin Stitt signed a resolution establishing a legal framework for digital assets and blockchain technology. The aforementioned legislation makes it unlawful for the state of Oklahoma to impose limitations on the utilization of digital assets for lawful transactions or for self-custody. In addition, it establishes that payment for digital assets must not incur […]