BitcoinWorld BingX Partners with Cornix to Elevate Automated Trading Experience PANAMA CITY , July 3, 2025 /PRNewswire/ — BingX , a leading cryptocurrency exchange and Web3 AI company, is pleased to announce a strategic partnership with Cornix, an automated crypto trading platform that helps users follow expert traders, automate strategies, and manage their portfolios with ease. This collaboration enables users to connect their BingX accounts directly to Cornix, unlocking advanced automated trading tools and providing a new avenue to deliver value to traders. With Cornix’s intuitive platform, both novice and experienced users can: Automate crypto trading using DCA bots, TradingView bots, or signals from leading providers Customize strategies with advanced configurations based on risk appetite and trading goals Start in seconds by copying top-performing bots and signal providers Trade 24/7 while benefiting from the liquidity and security of the BingX platform “We’re pleased to welcome Cornix to the BingX Broker Program,” said Vivien Lin , Chief Product Officer at BingX. “The program is open to qualified brokers worldwide, providing them access to BingX’s deep liquidity, high-performance trading infrastructure, and dedicated technical support. Our collaboration is a testament to the strength of our infrastructure. We look forward to continuing to expand the value strategic partnerships offer to our communities.” This co-operation demonstrates BingX’s ongoing commitment to supporting brokers with robust infrastructure and aligning with top-tier partners to deliver enhanced user experiences. By integrating with leading platforms like Cornix, BingX continues to expand its ecosystem to empower users with secure, scalable, and intelligent trading solutions. About BingX Founded in 2018, BingX is a leading crypto exchange and Web3 AI company, serving a global community of over 20 million users. With a comprehensive suite of AI-powered products and services, including derivatives, spot trading, and copy trading, BingX caters to the evolving needs of users across all experience levels, from beginners to professionals. Committed to building a trustworthy and intelligent trading platform, BingX empowers users with innovative tools designed to enhance performance and confidence. In 2024, BingX proudly became the official crypto exchange partner of Chelsea Football Club, marking an exciting debut in the world of sports sponsorship. For more information please visit: https://bingx.com/ This post BingX Partners with Cornix to Elevate Automated Trading Experience first appeared on BitcoinWorld and is written by chainwire
North Korea-linked threat actors have launched NimDoor to target companies in the Web3 and crypto industry. NimDoor, a sophisticated malware compiled in the Nim programming language specifically targets macOS systems. Unlike more widely used programming languages, Nim allows code execution during compilation, creating binaries that mix runtime and malware logic. This complicates reverse engineering and detection efforts. According to a new report by SentinelLabs, the campaign was first observed in April 2025 during an attack on a crypto startup. Multiple security firms have since confirmed similar incidents affecting other companies in the space. How North Korea Deploys Cyberattacks on Crypto Startups: SentinelLabs Report SentinelLabs reported that the attackers use classic social engineering techniques to trick victims into running the malicious code. Victims are approached on Telegram by impersonated contacts and invited to schedule a meeting via Calendly. They later receive an email with a Zoom link and instructions to install a supposed “Zoom SDK update.” According to the report, the link directs users to an AppleScript file hosted on domains mimicking Zoom’s official URLs. The script is heavily padded with thousands of lines of whitespace and ends with code that fetches a second-stage payload from attacker-controlled servers. After the initial download, the malware deploys two Mach-O binaries in the system’s temporary directory. The first binary, written in C++, performs process injection to launch a trojan. The second binary, compiled from Nim and labeled installer, installs persistence tools that ensure the malware remains active even after a system reboot or termination. This stage drops two more Nim-based binaries: GoogIe LLC and CoreKitAgent, both of which play roles in long-term access and system monitoring. Once deployed, the malware executes two that steal user data. The upl script extracts login credentials and browsing history from browsers such as Google Chrome and Firefox. The tlgrm script specifically targets Telegram data. All stolen data is compressed and sent to servers disguised as secure upload portals hosted by the attackers. North Korea’s Cyber Arsenal Evolves: Hackers Turn to Rare Programming Language SentinelLabs notes that this isn’t the first time DPRK-affiliated actors have used less common programming languages. Past campaigns have involved Go and Rust, and more recently, Crystal. Analysts believe the use of such languages will rise as attackers look for ways to evade traditional detection tools. This recent cybersecurity threat adds to the growing list of such activities emanating from North Korea. In April, North Korean hackers targeted U.S. crypto developers through a malware campaign using fake companies, including Blocknovas LLC and Softglide LLC, registered with false addresses. North Korean cyber spies reportedly set up fake US firms to deploy malware targeting crypto developers, violating Treasury sanctions. #NorthKorea #CyberSecurity https://t.co/TvCmrspaep — Cryptonews.com (@cryptonews) April 25, 2025 Tied to a Lazarus Group subgroup, the operation used fake job offers to spread malware stealing crypto wallets and credentials. In May, South Korea and the EU pledged closer cooperation to combat cyber threats, focusing on North Korea’s crypto crimes. During talks in Seoul, officials stressed the need for joint action amid rising attacks. Lawmaker Ha Tae-keung stated that North Korean hackers have stolen another $310 million in cryptocurrency from South Korean wallets since the $2 billion thefts reported by the UN in 2019. Chainalysis, in addition, reported $1.3 billion in stolen funds in 2024 Crypto hackers from North Korea stole $1.3 billion in funds in 2024, new data released this week from Chainalysis shows. #NorthKorea #CryptoHackers https://t.co/TQYgKiaQ22 — Cryptonews.com (@cryptonews) December 20, 2024 Just two days ago, the U.S. DOJ charged four North Koreans with stealing over $900,000 in cryptocurrency by posing as remote IT workers at blockchain firms. Using fake identities, they altered smart contracts to carry out the thefts, part of a scheme to fund North Korea’s weapons program. The post North Korean Hackers Unleash New Apple Malware in Imminent Crypto Threat—Here’s How appeared first on Cryptonews .
Crypto traders are increasingly leveraging ChatGPT and X to gain early insights into emerging market narratives, blending AI-driven research with real-time social sentiment analysis. While ChatGPT excels at synthesizing complex
BitcoinWorld Altcoin Season Index at 24: Unlocking Bitcoin’s Dominant Reign Are you tracking the pulse of the crypto market? The Altcoin Season Index, a crucial metric from CoinMarketCap (CMC), recently registered 24 at 00:30 UTC on July 3. This uptick from the previous day’s figure signals a clear message: we are firmly in Bitcoin Season . But what does this mean for your portfolio, and how should you navigate these dynamic market conditions? Let’s dive deep into understanding this pivotal indicator and its implications for your cryptocurrency investing journey. Understanding the Altcoin Season Index (ASI): Your Market Compass The Altcoin Season Index serves as a vital compass for investors, helping to determine whether the broader market is favoring Bitcoin or alternative cryptocurrencies. It’s not just a random number; it’s a carefully calculated metric that offers insights into prevailing crypto market trends . Here’s how this fascinating index works: Scope: The index tracks the performance of the top 100 cryptocurrencies by market capitalization on CoinMarketCap, specifically excluding stablecoins and wrapped tokens to ensure a pure measure of market sentiment and capital flow. Timeframe: Its assessment is based on the performance of these coins over the past 90 days, providing a robust, medium-term view rather than short-term fluctuations. Defining Seasons: The index operates on a simple yet effective rule: Altcoin Season: Occurs when at least 75% of these top 100 altcoins have outperformed Bitcoin in terms of price appreciation over the 90-day period. Bitcoin Season: Conversely, Bitcoin Season is declared when 25% or fewer of these altcoins manage to outperform Bitcoin during the same timeframe. The Score: The index scores range from 1 to 100. A higher score leans towards Altcoin Season, while a lower score indicates Bitcoin Season. The current reading of 24, up four points, firmly places us in Bitcoin Season territory, meaning Bitcoin is currently the dominant performer against most major altcoins. To put it simply, the ASI tells us where the smart money is flowing. Is it into the established, less volatile Bitcoin, or are investors seeking higher, albeit riskier, returns in the myriad of altcoins? What Does ‘Bitcoin Season’ Truly Mean for Your Portfolio? When the Altcoin Season Index points to Bitcoin Season, it signals a period where Bitcoin’s price appreciation outpaces the vast majority of altcoins. This isn’t just about Bitcoin going up; it’s about Bitcoin going up more significantly than most other cryptocurrencies, or holding its value better during market downturns. During a Bitcoin Season, you’ll typically observe: Dominance Shift: Bitcoin’s market dominance, its share of the total cryptocurrency market capitalization, tends to increase. This indicates that capital is consolidating in BTC, often seen as the ‘safe haven’ asset within the crypto space. Altcoin Underperformance: Many altcoins, especially those with smaller market caps, may struggle to gain significant traction. Some might even bleed value against Bitcoin, meaning their USD value might rise, but their BTC value (e.g., ETH/BTC, ADA/BTC) decreases. Reduced Volatility in BTC (Relatively): While Bitcoin is inherently volatile, during its season, it might offer comparatively more stability than the highly speculative altcoin market. Why does Bitcoin Season happen? Several factors contribute to this phenomenon: Macroeconomic Uncertainty: In times of global economic instability or uncertainty, investors often flock to assets perceived as more stable. Within crypto, Bitcoin often plays this role due to its larger market cap, institutional adoption, and established network. Pre-Halving Rallies: Bitcoin’s halving events, which reduce the supply of new BTC, historically precede significant price surges, drawing capital away from altcoins. Institutional Inflow: When large institutions enter the crypto space, their initial investments often flow into Bitcoin due to its liquidity and regulatory clarity. Market Cycle Behavior: Bitcoin often leads market rallies, with altcoins typically following once Bitcoin’s rally cools off and profits are rotated. For investors, understanding these dynamics is crucial for effective cryptocurrency investing . It means re-evaluating risk exposure and potentially adjusting your portfolio allocation. The Elusive ‘Altcoin Season’: What Triggers the Shift? While we are currently in Bitcoin Season , the crypto market is cyclical, and an Altcoin Season is always a possibility. This highly anticipated period is characterized by explosive growth in altcoin prices, often dwarfing Bitcoin’s gains. It’s when many investors see their smaller altcoin holdings multiply rapidly. What typically triggers a shift from Bitcoin Season to Altcoin Season? Bitcoin Dominance Peak: Often, Bitcoin’s dominance reaches a peak, and capital that flowed into BTC during its run begins to seek higher returns elsewhere. This ‘profit-taking’ from Bitcoin is then rotated into altcoins. Innovation and Narratives: New technological breakthroughs, significant upgrades to existing altcoin networks (e.g., Ethereum’s upgrades), or emerging narratives (like DeFi, NFTs, AI tokens, GameFi) can ignite interest and capital flow into specific altcoin sectors. Reduced Risk Aversion: As the overall market gains confidence and stability, investors become more willing to take on higher risks associated with altcoins, which have lower market caps and greater upside potential. Liquidity Spreading: Once Bitcoin establishes a new price floor or consolidates, the increased liquidity in the market starts to spread out to smaller cap assets, leading to their exponential growth. Recognizing the signs of an impending Altcoin Season is key for maximizing returns. It requires constant monitoring of market sentiment, Bitcoin dominance charts, and news from promising altcoin projects. Navigating the Seasons: Strategic Cryptocurrency Investing Knowing whether it’s Bitcoin Season or Altcoin Season isn’t just academic; it has direct implications for your cryptocurrency investing strategy. Adapting your approach based on the Altcoin Season Index can significantly impact your portfolio’s performance. Strategies During Bitcoin Season: With the Altcoin Season Index at 24, here’s how to navigate the current environment: Focus on Bitcoin Accumulation: This is an opportune time to accumulate more Bitcoin. If you believe in Bitcoin’s long-term value, dollar-cost averaging into BTC can be a sound strategy. Selective Altcoin Accumulation: While most altcoins underperform, this period can be excellent for accumulating strong, fundamentally sound altcoin projects at lower prices relative to Bitcoin. Research projects with solid technology, active development, and clear use cases. Risk Management: Reduce exposure to highly speculative or unproven altcoins. Their volatility can be amplified during Bitcoin Season, leading to significant losses. Education and Research: Use this period to research potential altcoin gems for the next Altcoin Season. Identify sectors or projects that could lead the next bull run. Strategies for the Next Altcoin Season: When the Altcoin Season Index starts climbing towards 75 and beyond, your strategy should shift: Profit Taking: Be prepared to take profits from your altcoin holdings. Altcoin seasons are known for parabolic pumps, but they can also reverse quickly. Having a profit-taking strategy (e.g., selling in tranches) is vital. Diversification within Alts: While Bitcoin Season often means consolidating into BTC, Altcoin Season might call for diversifying across promising altcoin sectors, spreading risk and capturing different narratives. Beware of FOMO: Not every altcoin will pump. Avoid blindly investing in every coin that is rising. Stick to your research and investment thesis. Rebalancing: Consider rebalancing your portfolio by moving some profits back into Bitcoin or stablecoins to secure gains and prepare for potential market corrections. Index Value Range Market Condition Key Characteristic Investor Action 75-100 Altcoin Season 75%+ of top 100 alts outperform BTC Focus on altcoin opportunities, profit-taking 25-74 Neither (Transition) Mixed performance, market indecision Cautious approach, research, observe 1-24 Bitcoin Season 25% or fewer alts outperform BTC Focus on Bitcoin, strategic alt accumulation Table: Altcoin Season Index Interpretation and Investor Strategies Historical Context and Future Outlook for Crypto Market Trends History often rhymes in the crypto world. Past bull cycles have consistently shown phases of Bitcoin Season followed by an explosive Altcoin Season . For instance, in late 2017 and early 2021, Bitcoin led the initial charge, breaking new all-time highs. Once Bitcoin’s momentum cooled, capital flowed into altcoins, leading to massive pumps across the board. Understanding these historical patterns can provide valuable context for current crypto market trends . While past performance is not indicative of future results, it offers a framework for anticipating potential shifts. What could trigger the next shift from Bitcoin Season? Keep an eye on: Bitcoin Dominance Chart: A significant reversal or consolidation in BTC dominance often precedes an Altcoin Season. Major Altcoin Developments: Breakthroughs in scalability, new DeFi protocols, or significant institutional adoption of specific altcoins could act as catalysts. Global Economic Climate: A more risk-on environment in traditional markets might encourage greater speculation in altcoins. The market is a living, breathing entity, constantly evolving. Staying informed about these broader trends is paramount for successful cryptocurrency investing . Challenges and Considerations in Following the Index While the Altcoin Season Index is a valuable tool, it’s essential to acknowledge its limitations and challenges: Lagging Indicator: The index is based on 90-day performance, meaning it reflects what has already happened. It’s not a predictive tool but rather a confirmation of current market conditions. Not All Altcoins are Equal: Even during an Altcoin Season, not every altcoin will pump. Many projects may fail, and some will simply not gain traction. Individual research and due diligence remain critical. Market Volatility: The crypto market is notoriously volatile. Conditions can change rapidly, and what is Bitcoin Season today might transition faster than anticipated. External Factors: Macroeconomic events, regulatory news, and major hacks or security breaches can override typical market cycle behavior. Therefore, use the Altcoin Season Index as one piece of your analytical puzzle, not the sole determinant of your investment decisions. Conclusion: Mastering the Seasons of Cryptocurrency Investing The current reading of the Altcoin Season Index at 24 unequivocally signals that we are in a period dominated by Bitcoin. This understanding is not merely academic; it provides a crucial framework for informed cryptocurrency investing . Whether it’s consolidating your position in Bitcoin, strategically accumulating promising altcoins, or preparing for the eventual shift to Altcoin Season , adapting your strategy to prevailing crypto market trends is paramount. The crypto market is a dynamic landscape, constantly shifting between periods of Bitcoin leadership and altcoin exuberance. By staying informed about metrics like the Altcoin Season Index and understanding the underlying drivers of these market seasons, you empower yourself to make more strategic decisions, navigate volatility with greater confidence, and ultimately, enhance your potential for long-term success in this exciting asset class. To learn more about the latest crypto market trends, explore our article on key developments shaping Bitcoin price action. This post Altcoin Season Index at 24: Unlocking Bitcoin’s Dominant Reign first appeared on BitcoinWorld and is written by Editorial Team
Crypto traders use ChatGPT and X to catch early signals, combining AI-driven analysis with real-time sentiment. But each comes with its risks.
The XRP price has jumped by 5% in the past 24 hours, with its move to $2.29 coming as the cryptocurrency market as a whole barely moves today. XRP is now up by the same percentage in a week and by 6% in a fortnight, while also boasting an impressive 375% increase in a year. Its moves today come after the SEC approved the Grayscale Digital Large Cap ETF, which includes XRP in its basket of digital assets, although the regulator has already frozen this approval , pending the establishment of clearer regulatory framework for ETPs. However, analysts are still optimistic that the approval clears the way for spot-based XRP ETFs, something which would have hugely positive implications for the long-term XRP price prediction . XRP Price Prediction – Crypto Analyst Says Wall Street’s Full-Scale Entry is Just Beginning – $100 XRP Next Target Posting on X, analyst Nate Geraci had suggested that the approval makes a spot-based XRP ETF much likelier, and while the SEC did actually include a stay on the approval, Geraci still insists that the news is encouraging. Fwiw, I actually view this as extremely positive… SEC Division of Trading & Markets *did* issue GDLC approval order. Agree w/ James that delay is simply SEC wanting to put in place formal listing framework/standards for crypto ETFs overall. Once that happens, floodgates open. https://t.co/tOU4RleQx2 — Nate Geraci (@NateGeraci) July 3, 2025 And as he reiterates above, the “floodgates open” to XRP ETFs once the SEC does introduce the regulatory framework analysts are now expecting. This means that we may experience a delay while the regulator formulates a set of guidelines for ETFs and other ETPs, but the fact that it approved Grayscale’s ETF would indicate that it’s very open to exchange-traded funds involving XRP (and other cryptocurrencies). It’s arguable that this news is reflected in the XRP price today, given its sudden and obvious bounce. And if we look at its chart, we see that it’s beginning to regather some good momentum, with its RSI (yellow) shooting up to 60 this morning. Similarly, its moving average convergence divergence (orange, blue) is about to turn positive, a sign that bulls are about to take control of XRP’s market. Source: TradingView Other positive signs include an increase in XRP fund inflows this week, while the coin’s funding rate has also risen , reaching 0.0104% today. We may therefore be on the cusp of a bullish period for XRP, which has strong enough fundamentals to support a long, sustained rally in the latter stages of the year. Not only could XRP ETFs be a massive boost to the XRP price, but Ripple’s ongoing expansion as a business will also support the altcoin. For example, yesterday saw the firm apply for a US banking charter , something which would facilitate the growth of its stablecoin business. This is very bullish for XRP, which could reach $2.50 in August and then $3.50 by the final months of the year. Automated Sniping Bot Raises $1.3 Million in Presale: Is Snorter the Next Big Alt? There’s no doubt that XRP could have a big end to 2025, yet there are other alts which have the potential to do very well in the coming months. Some of these will be presale coins, which have an advantage over other new coins, in that they can generate enough momentum during their sales to have big rallies once they list. One of the most promising presale coins around at the moment is Snorter (SNORT), a new Ethereum- and Solana-based token that has raised over $1.3 million in its ICO. Starting to see @SnorterToken is popping up everywhere, and for good reason. Clean site, strong push, and seriously good vibes. If you're tired of missing out on those wild Solana meme coins, the Snorter Bot is your new secret weapon. Powered by $SNORT , it makes on-chain trading… pic.twitter.com/qnn8f2Gjyp — MANDO CT (@XMaximist) June 17, 2025 This is an impressive figure, and the reason why Snorter is doing well is because it’s preparing to launch its own automated sniping bot. As a sniping bot, it will make trades ahead of the market, buying emerging tokens before they blow up. It will also offer several other important features, including copy trading, limit orders, atomic swaps, and protection against front-running and honeypot scams. This promises to make it one of the best bots in the market, with traders able to buy its SNORT token early by going to the Snorter website . The coin will have a max supply of 500 million SNORT, with holders able to stake it for a passive income. It currently costs $0.0971, although this will rise again in just under two days. The post XRP Price Prediction – Crypto Analyst Says Wall Street’s Full-Scale Entry is Just Beginning – $100 XRP Next Target appeared first on Cryptonews .
The post Ripple (XRP) Price Today, Ripple Stock Price, XRP/USD , XRP ETF and News appeared first on Coinpedia Fintech News July 3, 2025 11:51:17 UTC Ripple CEO Says XRP Is Solving a Multi-Trillion-Dollar Problem Ripple CEO Brad Garlinghouse has made a bold statement, emphasizing Ripple’s unique position in the blockchain and crypto ecosystem. “When I zoom out… we are incredibly fortunate to be the only company with real customers solving real problems,” he said. With Ripple targeting the global cross-border payments market, a multi-trillion-dollar industry, XRP is emerging as a powerful solution to real-world inefficiencies in finance. As regulatory clarity improves and adoption grows, XRP could soon become the backbone of international value transfer. Big moves ahead for Ripple and even bigger implications for the global banking system. July 3, 2025 11:44:02 UTC XRP News – Ripple’s Bank Charter Move Could Shatter Traditional Banking Ripple is making history by seeking a U.S. banking charter and a Federal Reserve master account—potentially becoming the first crypto-native bank. This move would allow Ripple to hold reserves directly with the Fed, offer FDIC-insured deposits up to $250K, and provide lending services using XRP and other crypto assets as collateral. With integrated cross-border remittance capabilities and on-chain financial services, Ripple is poised to disrupt traditional banking from within. If approved, this marks the beginning of a new financial era. 2025 to 2026 could be remembered as the years when the century-old banking system began to crumble.
TL;DR Meme coin mania returns, as top tokens like DOGE, SHIB, and PEPE post strong gains, while BONK steals the spotlight with a 20% surge. MOODENG soared 43% after being listed on South Korea’s largest exchange, Upbit. The move mirrors past listings like RVN and POKT, which triggered massive price increases due to boosted liquidity, visibility, and investor confidence. Memes Go Wild The past 24 hours have been quite successful for the cryptocurrency industry, particularly for the meme coin sector. The market capitalization of the niche has spiked by over 11% within that timeframe, currently standing above $60 billion. The leaders Dogecoin (DOGE) and Shiba Inu (SHIB) have recorded solid gains of around 7-8%, but many of their rivals have posted double-digit increases. Pepe (PEPE) – the third-biggest meme coin – is up 13% for the day, dogwifhat (WIF) has soared by 16%, while Bonk (BONK) has pumped by nearly 20%. BONK Price, Source: CoinGecko In fact, BONK is the best-performing top 100 cryptocurrency for the last 24 hours. Its market capitalization jumped above $1.3 billion, making it the 80th-largest in the entire market. The rebound has attracted attention from prominent analysts who think this upward trend might just be getting started. Bluntz – an X user with over 320,000 followers – predicted that BONK’s price could skyrocket by “at least” 100%-130%. MOODENG is Flying Even Higher The hippo-themed meme coin Moo Deng (MOODENG) has experienced a 43% price surge over the past day, and there is a compelling explanation behind it. MOODENG Price, Source: CoinGecko The asset caught the eye of the leading South Korean crypto exchange, Upbit, which listed the trading pairs MOODENG/USDT, MOODENG/KRW, and MOODENG/BTC. The company explained that it will support only deposits via the Solana network, while large deposits from unclear sources may require an explanation of fund origin. Upbit is undisputedly the largest cryptocurrency exchange in South Korea, and its backing often triggers a substantial pump for the involved assets due to factors like increased liquidity, improved accessibility, and a reputational boost. A month ago, the company listed the RVN/KRW trading pair, which was followed by a 75% price explosion for the underlying token. Prior to that, it embraced Pocket Network (POKT) and Livepeer (LPT), resulting in even greater gains. The post Meme Coin Cryptos on the Run Again: BONK, and WIF Lead the Charge appeared first on CryptoPotato .
The U.S. Department of Justice has credited stablecoin issuer Tether for helping recover $40,300 in stolen crypto tied to a scam that impersonated the Trump-Vance Inaugural Committee. According to the July 2 release , the scam occurred in December 2024, when impersonators tricked a political donor into sending $250,300 in USDT ( USDT ) on Ethereum by posing as the co-chair of the Trump-Vance committee. The scammers used a lookalike email address to make the fraudulent request, swapping an “I” for a lowercase “L” in the email address to deceive the victim into thinking the request was legitimate. Thinking it was real, the donor fell for the scheme and sent the funds. Upon receipt, the scammers moved the assets through several wallets within hours. However, authorities traced the transactions and successfully recovered $40,300. You might also like: DOJ busts four North Korean hackers in $900K crypto theft In the announcement, the Justice Department specifically acknowledged stablecoin issuer Tether for aiding in the recovery of the funds. “The Department of Justice would like to acknowledge Tether for its assistance in effectuating the transfer of these assets,” the filing read. The latest case adds to Tether’s track record of working with law enforcement to freeze and recover illicit funds. In June, the DOJ credited the company for assisting in the takedown of a $225 million crypto pig-butchering scheme. The firm has also been repeatedly praised by multiple agencies for its swift action in freezing suspicious assets and supporting investigations. Meanwhile, rival stablecoin issuer Circle is facing scrutiny over its handling of similar abuse. Earlier this week, on-chain investigator ZachXBT accused the firm of turning a blind eye toward the growing use of its stablecoin USDC by North Korea-linked hackers and malicious actors ZachXBT raised questions over Circle’s compliance standards, stating that despite substantial wallet flows tied to sanctioned actors, it has failed to investigate or freeze the wallets involved. While Tether was once the target of criticism for its loose compliance practices, its growing cooperation with law enforcement suggests the firm is now taking a more proactive and compliant approach. You might also like: Tether-Celsius lawsuit proceeds as judge rejects parts of Tether’s dismissal bid
Liquidators are reportedly suing the Singapore arm of Standard Chartered over allegations the British banking giant enabled fraud that caused more than $2.7 billion in losses. The allegations are tied to the $4.5 billion embezzlement conspiracy carried out against the Malaysian sovereign wealth fund 1Malaysia Development Berhad, known as the 1MDB scandal, which began back in 2009. Standard Chartered “emphatically rejected” the claims made in the new Singapore lawsuit, according to a new Reuters report . Liquidators from the financial services giant Kroll filed the suit, claiming that the British bank enabled the 1MDB fraud. Standard Chartered allegedly ignored red flags and processed more than 100 intrabank transfers between 2009 and 2013, which contributed to hiding the 1MDB funds, according to three companies in liquidation associated with the scandal. Explain the liquidators, “According to this lawsuit, the transfers demonstrate serious breaches and control failings which ultimately enabled the theft of public funds by people operating at the highest levels of the Malaysian government during that period.” Standard Chartered told Reuters any claims made by the companies were “without merit.” Earlier this year, former Goldman Sachs employee Tim Leissner was sentenced to two years behind bars for playing a part in the multibillion-dollar heist. Prosecutors say that Leissner and others who worked for the banking giant aided Malaysia in raising $6.5 billion for the nation’s investment fund through bond sales. Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Standard Chartered Bank Hit With $2,700,000,000 Lawsuit Over Alleged Role in Malaysian Sovereign Wealth Fund Fraud appeared first on The Daily Hodl .