CoinQue Chronicles
Happy Friday,
The crypto world was shaken by a massive $1.4B Bybit hack, forcing the exchange to seek a 120K ETH loan, while the SEC dropped its investigation into Gemini, prompting Winklevoss to call for penalties. Meanwhile, scammers are using fake crypto job offers and the ‘GrassCall’ meeting app to drain wallets. On the regulatory front, the first Solana futures ETFs have been listed on DTCC, and the U.S. Treasury Secretary has appointed Galaxy Digital’s Tyler Williams as a digital assets and blockchain policy advisor.Keep reading for the full scoop!
The SEC has decided to end its investigation into Gemini without bringing any charges, adding to a series of dropped investigations this week. The Commission has also ended probes into Opensea, Robinhood, and Uniswap, signaling a shift in its approach to crypto firms. Despite this, Gemini co-founder Cameron Winklevoss is far from satisfied. He has called for severe penalties against regulators responsible for the years of hostility toward the crypto industry, demanding accountability for the harm caused.
Social engineering scammers are reportedly using fake job offers and a new malware-laden app called “GrassCall” to install info-stealing software that hunts for crypto wallets to drain. BleepingComputer reported that the actors behind the scam have now abandoned the scheme, with websites and LinkedIn accounts tied to the scam taken down as the hundreds of people targeted have spoken out
The Depository Trust & Clearing Corporation (DTCC) has listed the first Solana futures ETFs from Volatility Shares — the Volatility Shares 2x Solana ETF (SOLT) and the Volatility Shares Solana ETF (SOLZ). Being added to the DTCC means that these ETFs are eligible for clearing and settlement through this central infrastructure, which is essential for efficient and reliable trading. However, the listing doesn’t equate to SEC approval of the investment products.
The Lazarus Group has been tracked as the main culprit in the $1.4 billion Bybit hack. The hack was executed in a complex way involving UI masking of the cold wallet. Bybit lost 75% of its ETH deposits and experienced severe ETH withdrawals as the news broke. Later it got a 120k ETH loan support from Bitget, MEXC and two ETH whales.
U.S. Treasury Secretary Scott Bessent had reportedly appointed Galaxy Digital’s Tyler Williams as a digital assets and blockchain policy advisor.? Williams, who is currently the head of Regulatory and Legislative Affairs and regulatory Counsel at Galaxy, previously worked as an Assistant Treasury Secretary. Bessent’s move confirms that the Trump administration is working toward a convenient environment that supports digital asset growth in the country.?
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