Korean Candidate Proposes Stablecoin Pegged to Won
South Korean presidential candidate Lee Jae-myung proposes a won-pegged stablecoin to reduce capital flight and strengthen financial sovereignty, alongside plans for crypto ETFs and institutional participation.
Binance Lawyers Ask Court to Throw Out $1.76B FTX Lawsuit Case
Binance seeks dismissal of a $1.76B lawsuit from FTX, arguing the case is flawed and lacks evidence. The dispute involves a 2021 equity buyback deal and FTX’s misuse of customer funds.
‘People Will Die’ After Coinbase Data Leak, Millionaire Warns
Michael Arrington, a Coinbase investor, warns that the recent data leak exposing user addresses and balances could lead to fatalities. Coinbase admits criminals bribed employees to access sensitive data, potentially costing $400M.
Coinbase Delists MOVE Token Following Controversial $38M Market Maker Liquidation
Coinbase delisted MOVE token after $38M market manipulation involving unauthorized token dumps. Movement Labs launched an audit amid allegations of contract breaches and internal mismanagement, causing a 20% price drop.
SEC’s new interim watchdog Katherine Reilly to target crypto fraud as top priority
Katherine Reilly, new SEC Acting Inspector General, prioritizes crypto fraud. Past reports highlight rising scams, resource strains, and cybersecurity gaps, including a high-profile fake Bitcoin ETF tweet incident.
Binance seeks to dismiss $1.76B FTX lawsuit, blames SBF for collapse
Binance seeks dismissal of a $1.76B lawsuit from FTX’s estate, blaming FTX’s collapse on internal fraud by SBF rather than market manipulation. The case involves allegations of improper funding in a 2021 buyback deal.
South Korean Actress Hwang Jung-eum Admits to $3.1M Crypto-Driven Embezzlement
South Korean actress Hwang Jung-eum admitted to embezzling $3.1M from her agency to invest in cryptocurrency, leading to her removal from TV shows and ads. She plans to repay the funds.
Crypto Abduction Threat Spreads to Africa; Ugandan Founder Targeted – Africa Bitcoin News
Ugandan blockchain educator Festo Ivaibi was abducted by criminals posing as police, demanding $500,000 and access to crypto wallets, highlighting rising crypto-related kidnappings in Africa.
South Korean presidential front-runner proposes won-based stablecoin
South Korea’s Democratic Party leader Lee Jae-myung proposes a won-based stablecoin to prevent capital outflows and reduce reliance on foreign stablecoins like USDT and USDC.
Genesis Sues Digital Currency Group and CEO Barry Silbert Over $3.1 Billion Fraud and Mismanagement Claims – “The Defiant”
Genesis Global Capital sues DCG and CEO Barry Silbert for $3.1B over alleged fraud, mismanagement, and improper transfers during insolvency, amid broader crypto industry turmoil.
