CoinQue Chronicles
Happy Friday,
The Hong Kong stablecoins bill has advanced to the Legislative Council, while Animoca Brands Co-Founder faces a cyberattack targeting his company. Meanwhile, Crypto.com has launched a custody trust for clients in the U.S. and Canada. South Korea has sanctioned 15 North Korean individuals involved in crypto heists and cyber theft, and Bitcoin is projected to reduce 36% of U.S. debt by 2050. Keep reading for the full scoop!
North Korean hackers are being pursued by governments worldwide due to being associated with over half of the value stolen in the cryptocurrency space during 2024. North Korean hackers like the infamous Lazarus Group are the prime suspects for some of the most notorious cyber thefts in Web3, including the $600 million Ronin network hack.
Crypto.com has obtained a trust company charter. This enables custody services for institutions and high-net-worth clients in the U.S. and Canada. This move strengthens the company’s business and presence in two of the most active crypto markets globally
Blockchain gaming giant Animoca Brands has confirmed a cyberattack on the social media account of its co-founder and chair, Yat Siu, marking yet another instance in a growing wave of attacks targeting cryptocurrency-focused accounts on X.
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Hong Kong’s proposed Stablecoins Bill has entered the Legislative Council, moving the region closer to forming a comprehensive regulatory regime for stablecoins. The Hong Kong government published the bill in the special administrative region’s Gazette, moving it closer to becoming law
VanEck estimates that Bitcoin could help manage the US Debt Crisis by 36% in 2050. The report estimates Bitcoin to grow $42.3 million by 2049, with a CAGR of 25%, much lower than Bitcoin's actual growth rate of 109% since 2009. The US Govt. must procure an additional 800k BTC for this task.
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