Wendy O
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How Market Manipulation Led to a $100M Exploit on Mango; Betterment Launches Crypto Offering
A rogue crypto trader utilized millions of dollars to manipulate the prices of Mango’s MNGO tokens on the namesake decentralized exchange (DEX) to eventually drain over $116 million in liquidity from the platform. Plus, the largest independent robo-advisor, Betterment, is letting its clients invest in a handful of crypto portfolios for the first time, but with a caveat: best not to go above 5% exposure.
Google Partners With Coinbase to Accept Crypto Payments for Cloud Services; CNN Ends its NFT Project
Google will start accepting crypto payments for cloud services early next year. The tech giant said it will receive crypto payment via an integration with crypto exchange Coinbase. Plus, the state of the NFT market as CNN is "saying goodbye" to its Web3 project Vault.
Huobi Global to Be Acquired by About Capital; PayPal Says it’s ‘Not Fining People for Misinformation’
Crypto exchange Huobi Global, one of the biggest token trading outposts in the Asia markets, has agreed to be purchased by Hong Kong-based investment company About Capital Management’s M&A fund. Plus, PayPal addresses its acceptable use policy (AUP) notice update that a spokesperson said “included incorrect information” and sparked a debate online.
BNB Smart Chain Resumes Operations After Major Exploit; FTX Partners with Visa on Crypto Debit Card
The BNB Smart Chain (BSC) resumed operations as chain validators adopted a software update that would close the exploit used by hackers to drain funds off-chain. Plus, FTX has partnered with Visa to roll out crypto debit cards across 40 countries.
Do Kwon’s Passport Set to be ‘Invalidated’ By South Korea; Warner Music Group’s Web3 Push
CORRECTION: Since publication, the reporting and headline of Celsius executives withdrawing crypto has been corrected to $17 million based on documentation provided by CTO Nuke Goldstein’s lawyers, who showed that most of his apparent withdrawals were sent to other accounts at Celsius. The original headline indicated a figure of $42 million.
South Korean Prosecutors Reportedly Freeze $39.6M in Crypto Owned by Do Kwon; Global CBDC Framework
Prosecutors in South Korea have frozen 56.2 billion won ($39.6 million) of cryptocurrency assets belonging to Do Kwon, CEO of Terraform Labs, the firm behind the failed Luna stablecoin project, according to Korean media outlet News1. Plus, SWIFT says it has proved it can be the way forward for global central bank digital currencies (CBDCs).
