Korea: 70% crypto in foreign 🇰🇷, Stanford to return millions 💸, CoinEx launch new wallet 🚀
Daily Crypto, Blockchain & Web3 Update 2023-09-20
CRYPTOCURRENCY
CoinEx to resume service with new wallet system following $70M hack (2 min read)
Cryptocurrency exchange CoinEx is set to resume deposits and withdrawals for its users more than a week after it suffered a $70 million hack due to compromised hot wallet private keys.
Bitcoiners stack ’em up: Inactive BTC supply hits all-time highs (2 min read)
On-chain data suggests that Bitcoin holders are accumulating BTC with exchange holdings down to yearly lows and the percentage of inactive BTC supply at all-time highs.
Crypto makes up 70% of South Korea’s reported overseas assets: Tax agency (3 min read)
Cryptocurrencies like Bitcoin accounted for the largest share of South Korea’s reported overseas assets in the latest report by the country’s tax organization.
Over 1,400 individuals and corporations in South Korea have reported holding $98 million in crypto overseas, which is 70% of all reported assets.
Wormhole integrates native USDC transfers for four blockchain networks (3 min read)
Wormhole has integrated Circle’s Cross-Chain Transfer Protocol (CCTP), allowing USD Coin to be transferred between Ethereum, Avalanche, Arbitrum and Optimism via Wormhole-based bridges, according to a Sept. 20 announcement.
QUICK LINKS
DeFi protocol Balancer frontend is under attack, $238K crypto stolen (2 min read)
Balancer, an Ethereum-based decentralized finance protocol, warns users to stay away from its website after an attack on its frontend.
The platform notified its community on Sept. 19 at 11:49 pm UTC, urging users not to interact with the Balancer protocol until further notice.
Coinbase crypto lobbying campaign to focus on 4 swing states (3 min read)
Coinbase will focus its "Stand with Crypto" campaign on nine states in the United States. These states include four "swing states" where voters are less likely to choose presidential candidates who are against cryptocurrency.
Philippines SEC teams up with US counterpart to combat crypto fraud (3 min read)
The Philippine SEC, the US SEC, and the Asian Development Bank are working together to stop criminals from using cryptocurrencies for fraud and other financial crimes.
Binance CEO refutes report on $250M loan to BAM Management (2 min read)
Binance CEO Changpeng Zhao disagrees with a report stating that he borrowed $250 million from BAM Management, the company that holds Binance.US.
Stanford to return millions in crypto donations from FTX (2 min read)
The California-based Stanford University said it plans to return all funds it received from the now-defunct cryptocurrency exchange FTX, according to a report from Bloomberg.
Brazilian lawmakers seek to add crypto to debtors’ protected assets list (2 min read)
Brazilian lawmakers are debating a bill that aims to provide strong protection for a significant portion of debtors' savings assets. At the same time, there is a separate effort to include cryptocurrency in the bill's latest version.
Chamber of Digital Commerce launches Digital Power Network miners’ coalition (3 min read)
Cryptocurrency miners have a new voice in Washington, D.C. with the launch of the Digital Power Network (DPN), a new coalition affiliated with the Chamber of Digital Commerce. The network is off to a promising start, with many of the United States’ biggest miners on board.