By Hassan Shittu Key highlights: The Fed proposed two GENIUS Act rules: full reserve backing for payment stablecoins, plus a 120-day approval pathway for banks to issue stablecoins via subsidiaries Stablecoins won’t become FDIC-insured deposits regardless of who issues them, as the framework focuses on the issuer, reserve assets, and how they’re managed Bank of […]
Category: News
By Michael Adeleke Key highlights: Polymarket filed a federal lawsuit against New York officials hours after the state sued the company New York claims Polymarket operates without a license and allows underage users to bet The state is seeking triple Polymarket’s gains, plus $100,000 per wagering violation Polymarket has filed a counterlawsuit against New York […]
By Nynu Jamal Key highlights: The Bitget hack may have been executed by North Korean hackers, stated CEO Gracy Chen Hackers accessed a critical backend system and moved $351 million in assets The CEO confirmed that the cold wallets were not compromised Crypto exchange Bitget has suffered one of the largest security incidents recently. Hackers […]