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๐Ÿ”Bahrain-based crypto exchange Rain was hit by a $14.8M hack at the end of April, according to blockchain detective ZachXBT. The stolen funds, 137.9 BTC and 1,881 ETH, have been inactive since the exploit. ๐Ÿ•ต๏ธโ€โ™‚๏ธ Rain's "pro" version, an advanced trading platform, has been intermittently down since May 5. Last year, crypto investors lost $2B to hacks and exploits across the industry, with an additional $333M stolen in Q1 this year. ๐Ÿ˜ฎ Rain, licensed to operate a virtual asset brokerage and custody service in the UAE since 2023, has yet to comment. What are your thoughts on this? How can exchanges better protect their platforms and users? Let's discuss! ๐Ÿ’ฌ๐Ÿ‘‡ #CryptoNews #Blockchain

๐Ÿ”Bahrain-based crypto exchange Rain was hit by a $14.8M hack at the end of April, according to blockchain detective ZachXBT. The stolen funds, 137.9 BTC and 1,881 ETH, have been inactive since the exploit. ๐Ÿ•ต๏ธโ€โ™‚๏ธ

Rain's "pro" version, an advanced trading platform, has been intermittently down since May 5. Last year, crypto investors lost $2B to hacks and exploits across the industry, with an additional $333M stolen in Q1 this year. ๐Ÿ˜ฎ

Rain, licensed to operate a virtual asset brokerage and custody service in the UAE since 2023, has yet to comment.

What are your thoughts on this? How can exchanges better protect their platforms and users? Let's discuss! ๐Ÿ’ฌ๐Ÿ‘‡ #CryptoNews #Blockchain

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๐Ÿ”ฅHot off the press! U.S President Joe Biden has vetoed a resolution to repeal the SEC's SAB 121, a controversial guidance that critics say hampers financial institutions' ability to work with crypto companies. ๐Ÿฆ๐Ÿ’ผ Biden's stance? He's all for consumer and investor protection. He believes the resolution would limit the SEC's ability to set "appropriate guardrails" and address future issues. ๐Ÿ›ก๏ธ๐Ÿšง But the veto didn't go down without a fight. Earlier, banking groups and Congress members penned letters to Biden, urging him to overturn SAB 121. They argue the guidance blocks banking groups from offering crypto custody services. ๐Ÿ“๐Ÿ“ฌ Sen. Ron Wyden, a resolution supporter, claims the guidance creates a different standard for crypto than other assets in the financial sector. ๐Ÿ“Š๐Ÿ’ฑ What do you think? Is the veto a step forward or backward for the crypto industry? Let's discuss! ๐Ÿ’ฌ๐Ÿ‘‡ #CryptoNews #SECGuidance
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๐Ÿš€Blockchain personalities are making waves! Starfox, part of the art/protest project UNFK, is turning heads with her unique style. Dustin Lee is gaining visibility for his Web3 marketplace DeStore, bridging physical and digital worlds. Clemente Varas and Easy Eats are making crypto fun with their quick and entertaining content. David Quinn and Daniel Calderon are pushing boundaries with Generative Goods, creating unique physical items with digital counterparts. Meanwhile, Amanda Wick is advocating for safer workplaces in crypto, noting signs of progress. David Bischoff and Hunter Rogers are championing TronDAO, providing financial lifelines where traditional banks fall short. Thibault Palomares and Galen are making a difference with their meme coin $USA, raising over $38 million for military vets. Jen Wheatley is bringing her PR expertise to Disruptive, while The Pink Alliance is reimagining the metaverse with comic book culture. Who's your favorite blockchain personality? Share in the comments! ๐Ÿ’ฌ #BlockchainNews #CryptoCommunity
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๐Ÿš€Crypto world and Wall Street unite! They're urging President Biden to reconsider his plan to veto Congress' move to scrap a controversial SEC crypto policy.๐Ÿค SAB 121, the policy in question, demands banks treat digital assets differently, requiring them to be kept on a bank's balance sheet. Crypto companies and bankers argue this could hinder their business operations.๐Ÿฆ๐Ÿ’ผ In a rare show of unity, Wall Street banks, crypto companies and even members of Congress have penned letters to Biden, asking him to reverse his decision or at least work with the SEC to rescind the policy.๐Ÿ“ Biden's veto threat stems from concerns that erasing the rule could limit the SEC's ability to ensure appropriate safeguards for crypto-assets in the future.โš–๏ธ๐Ÿ”’ The clock is ticking, with Biden having until Monday to make a final decision. What do you think he'll do? Let's discuss below!โฐ๐Ÿ‘‡ #CryptoNews #SECPolicy
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๐ŸšจBreaking News!๐Ÿšจ Uniswap Foundation has hit the pause button on a proposal upgrade vote that would've rewarded UNI token holders who staked and delegated their tokens. Why the sudden change of heart? A stakeholder raised a fresh issue that needs more scrutiny. Given the irreversible nature of the proposed upgrade, the Foundation decided it's best to postpone the vote.๐Ÿ’ก The news has sent UNI's price down by 8.75% to $10.20. But hey, don't let this news dampen your spirits! Remember, in the world of crypto, volatility is the name of the game.๐ŸŽข What are your thoughts on this development? Do you think it's a wise move by the Uniswap Foundation? Let's get the conversation started in the comments!๐Ÿ‘‡ #Uniswap #CryptoNews
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๐Ÿš€Sen. Ron Wyden, chairman of the Senate Finance Committee, is optimistic about the future of crypto regulation! Speaking at Consensus 2024, he applauded the House's FIT21 bill, which aims to establish a digital assets market structure.๐Ÿ‘ However, he's not so keen on the SEC's crypto accounting standard, SAB 121, calling for a "different standard" for digital asset custody.๐Ÿค” Despite the uncertainty, Wyden remains positive, saying the momentum for crypto regulation will continue into next year. He also expressed support for stablecoins and blockchain innovations, such as portable medical records.๐Ÿ‘ What do you think about Wyden's views? Is the FIT21 bill the right move for crypto? And what about the SEC's SAB 121? Let's discuss in the comments!๐Ÿ’ฌ #CryptoNews #Blockchain #FIT21 #SAB121
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