Market maker and investment firm DWF Labs is making a $20 million investment in on-chain liquidity and derivatives trading protocol Synthetix.DWF Labs purchased $15 million worth of Synthetix's native token SNX on March 16 with a further purchase of $5 million to follow, the Synthetix Treasury Council announced via email on Monday.Synthetix's perpetuals will be integrated into DWF Labs' trading business with the aim of significantly increasing the protocol's trading volume.Ethereum-based Synthetix is a decentralized asset issuance protocol blockchain, which allows users to mint and trade synth

Over 80 foreign and Mainland China companies have expressed their interest in establishing a Web3 company in Hong Kong, ahead of new crypto regulations that will take effect from June, said Hong Kong’s Secretary for Financial Services and the Treasury, Christian Hui.Fast factsThe companies had expressed interest in opening a Hong Kong branch since October, when Hong Kong announced plans to regulate crypto exchanges the same way as traditional finance companies.The new regulations for virtual asset service providers will come into effect from June 2023.23 of the 80 companies mentioned are alrea

CertiK’s blockchain security platform recently confirmed that Harvest Keeper, a project claiming to be “AI-based,” has stolen nearly $1 million from its users in an apparent scam. The firm reported that users had lost around $933,000 of their assets and $219,000 from fraudulent transactions across the Ethereum, BNB Smart Chain, and Polygon networks.As a result, CertiK is urging users to revoke all permissions they have granted the project and warning people to stop interacting with its website. With Artificial Intelligence recently becoming a hot topic due to ChatGPT v4’s capabilities, users m

After losing 3 bank providers for the crypto industry in quick succession, Bitcoin has continued to move up in price regardless.Where is the crypto price plunge?It might have been thought that to all intents and purposes crypto would have plumbed the depths in price, given that the sector lost its 3 biggest fiat on/off ramps in the space of just several days.When the FDIC took over and shuttered Signature bank, the government, its regulators, and the banking industry, must have breathed a massive sigh of relief while thinking that at least this drastic action will have put paid to the crypto s

Another major hack rocked the decentralized finance (DeFi) market last week in March. The attack on DeFi protocol Euler Finance drained a massive $197 million making it the biggest DeFi hack in 2023 so far.While tracking the details of the movement of hacked funds, it turns out that the hack could be linked to North Korea. Among the series of transfers made by the hacker, one transaction of 100 ETH involves the movement of funds to an address linked to North Korean actors.Chainalysis, the blockchain investigating platform identified that 100 ETH from Euler’s stolen funds have been moved to an

The European Union’s Markets in Crypto Assets Regulation (MiCA) has been tabled for an April 18 discussion in the European Parliament, heralding final formal agreement of the landmark law that brings in a crypto licensing regime across the bloc, according to an agenda published on the parliament’s website. The law’s political outlines were finalized in June, but there have been multiple delays in definitively agreeing on a legal text, which must be translated into the EU’s 24 official languages. The MiCA debate will be followed by discussions on a further law known as the transfer of funds reg

FTX wants to strip the company’s Bahamas arm from any claim over company assets, saying it is a mere shell set up to further alleged fraud by founder Sam Bankman-Fried, the company’s U.S. leadership said in a Sunday legal filing.The filing accuses Bahamas authorities of aiding Bankman-Fried’s attempts to escape justice, in a move likely to reawaken legal and diplomatic tensions.The crypto exchange’s Bahamas arm FTX Digital Markets (FTX DM) was placed into liquidation by the Bahamas courts on Nov. 10, and the wider corporate group filed for bankruptcy in Delaware on Nov. 11 – a confusing situat

Although not a thriving financial hub like its neighboring states like Hong Kong and Singapore, Taiwan is poised to drive the global tech industry to the next level. It hosts the world’s most valuable semiconductor company, dubbed the Taiwan Semiconductor Manufacturing Company Limited (TSMC), which is most popularly known for its customers, including Apple. The company is directly and indirectly involved in the future success of the crypto industry through mining and the provision of quality hardware products. A major way the country is moving toward its goal of financial freedom is by adoptin

In its latest filing, the new management of Sam Bankman-Fried's FTX group of companies revealed a $6.8 billion shortfall.So far, they have found $11.6 billion in claims against $4.8 billion assets in the chaotic and incomplete books of the bankrupt firms.Which, as bad as it sounds, is a lot better than the $9.8 billion imbalance between assets and what it owes customers that FTX Debtors — as the entire collection of more than 100 companies is now called — revealed on March 2.And better than initial estimates that some $8 billion was missing.The ongoing fluctuation in the assets and liabilities

The recent bullish momentum seen with Bitcoin (BTC) shows no signs of fatigue as it recently surpassed $28K. BTC’s latest price development marks the first time since last June that the crypto has surged past $28,000. The world’s largest crypto by market cap has now gained a staggering 37.8% for the week. Bitcoin is also up 20.8% this month, with observers and analysts foreseeing the leading token advancing further.According to TradingView, Sunday’s price development represented a 5.2% surge in BTC value over the past 24 hours. The upswing has also seen BTC’s market swell to $548 billion.The g