06 Apr 2025
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Stay ahead of the curve with The Coinomist’s breaking news coverage. From major market shifts to regulatory updates and industry-defining announcements, we deliver the critical information you need, fast and accurate. Be the first to know about the stories shaping the world of cryptocurrency, business, investing, and Web3.

Hacker Targets RocketSwap, Then Launches Meme Token

Hacker Targets RocketSwap, Then Launches Meme Token

RocketSwap, a DEX on the Base Layer 2 network, suffered a hack, losing 471 ETH ($862,000). The team identified lapses, including offline signatures during launchpad deployment and storing private keys on the server. While some accused the team of a potential rug pull, RocketSwap blames a third-party hacker who brute-forced a server to extract private keys. Post-hack, the hacker moved assets to Ethereum, creating a meme token, “LoveRCKT”, which saw a brief price surge on Uniswap before plummeting.

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New Lobby Group Aims to Shape U.S. Crypto Mining Policies

New Lobby Group Aims to Shape U.S. Crypto Mining Policies

Crypto miners in the U.S. have initiated the Digital Energy Council to lobby for miner-friendly policies amidst ongoing crypto regulation debates. The council aims to advocate for sustainable energy development, grid resilience, U.S. competitiveness, and national security. This move comes as President Joe Biden’s administration proposes a 30% excise tax on mining operations, citing societal harms. Additionally, Democratic lawmakers criticize miners for environmental concerns.

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US Lawmakers Probe SEC & FINRA

US Lawmakers Probe SEC & FINRA

US House Financial Services Committee members, led by Chair Patrick McHenry, are seeking clarity from the SEC and FINRA about how Prometheum secured a special purpose broker-dealer (SPBD) license. They’re probing if the SEC used Prometheum as a model firm to support Gary Gensler’s stance that existing laws suffice for crypto regulation in the U.S. Despite Prometheum’s claims of being pivotal for regulated digital asset offerings, the lawmakers pointed out that the firm hasn’t served any customers yet. Also they raised concerns about potential ties between Prometheum and the Chinese Communist Party. The committee has requested related documents and communication records by Aug. 22.

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A legal rendezvous with a sexopathologist awaits?

A legal rendezvous with a sexopathologist awaits?

The U.S. Department of Justice is escalating its legal fight against the founder of FTX, employing intimate writings from his ex-girlfriend Caroline Ellison, who once managed investment company Alameda Research. From October 2nd, the court will see evidence pulled from Caroline’s personal documents. A notable inclusion is a list termed “Things Sam is Freaking Out About,” pointing towards alleged financial misconduct at FTX. The case’s evidence will also feature undisclosed recordings and messages from FTX insiders.

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China’s AI Regulations Kick In

China’s AI Regulations Kick In

China’s provisional AI guidelines, termed “Generative AI Measures,” take effect today. Among the 24 measures, AI service platforms must register and undergo security reviews before public launch. AI-generated content will need labels, and data must come from legitimate sources respecting intellectual property and user privacy. Service providers are accountable for content on their platforms.

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Delphi Digital Foresees New Crypto Market Cycle

Delphi Digital Foresees New Crypto Market Cycle

Kevin Kelly, Delphi Digital’s co-founder, suggests the crypto market is entering a new cycle. He highlights the consistency in crypto market timings, from peak-to-trough bottoms to recovery durations. Using Bitcoin as a reference, Kelly describes a typical cycle: a new all-time high, an 80% drawdown, a recovery to the previous high in two years, and a rally to a new peak. This cycle aligns with broader business cycles. Kelly also draws parallels between Bitcoin’s price peaks and the ISM Manufacturing Index. Despite potential short-term setbacks, Kelly remains optimistic about the market’s outlook for the next 12-18 months.

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Layer-1 blockchain Sei is now live on mainnet!

Layer-1 blockchain Sei is now live on mainnet!

Stated to be a staggering 10 times faster than Solana, the network accomplishes transaction finality in just 250 milliseconds. Trading of the blockchain’s native token (SEI) has started on different centralized exchanges, and it’s now valued at approximately $0.19. There’s also news of an airdrop, but claiming will be permitted only after the “initial warm-up period.” The time frame for this warm-up has not yet been revealed.

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AI and Web3 enterprises drawn to Dubai’s subsidized landscape

AI and Web3 enterprises drawn to Dubai’s subsidized landscape

Dubai is launching an aggressive campaign to attract tech giants in artificial intelligence and Web3, offering hefty subsidies that could cover as much as 90% of commercial licensing fees. The Dubai International Financial Centre (DIFC) has been assigned the duty of issuing these licenses, and its executives look forward to engaging foreign businesses and investors with optimism.

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Bankruptcy hits cryptocurrency exchange Dasset

Bankruptcy hits cryptocurrency exchange Dasset

Dasset, a cryptocurrency exchange in New Zealand, has left its users unable to access their holdings. Attempts to log onto the official site redirect customers to the webpage of the law firm Grant Thornton. A released statement details that Grant Thornton will control the liquidation process of the exchange. It has immediate plans to cooperate with all customers to safeguard all the residual funds. “Dasset’s management says a significant reduction in asset values and trading levels impacted its ability to trade profitably. It was determined the appointment of liquidators was in the best interests of all stakeholders,” Grant Thornton highlighted.

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Singapore restricts stablecoin options

Singapore restricts stablecoin options

Under the new regulations, stablecoin transfers will require up to three business days. This rule has caused bewilderment within the blockchain community. However, officials state that this restriction is consistent with the pace of standard domestic money transfers and will also apply to stablecoin redemptions. “The redemption timeline is intended to strike a balance between responsiveness to users’ requests and ensuring there is enough time for the SCS issuer to do so in an orderly manner under various stress situations,” added the regulator.

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Immutable launches zkEVM testnet

Immutable launches zkEVM testnet

Web3 gaming platform is launching a Layer 2 blockchain testnet, Immutable zkEVM, to reduce dependence on a single network infrastructure. The platform utilizes Polygon Supernets, which facilitate the creation of application-specific blockchains.

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The first Bitcoin-EFT in Europe launched on Euronext

The first Bitcoin-EFT in Europe launched on Euronext

acobi Asset Management Lists Europe’s First Spot Bitcoin ETF on Euronext Amsterdam Exchange. “It is exciting to see Europe moving ahead of the US in opening up Bitcoin investing for institutional investors who want safe, secure access to the benefits of digital assets,” says the company’s CEO, Martin Bednall. Well, now it’s the USA’s turn!

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Coinbase Introduces Stand with Crypto Alliance

Coinbase Introduces Stand with Crypto Alliance

This initiative aimed at countering anti-crypto legislation by mobilizing the community. Coinbase’s long-term plan is focused on cultivating a grassroots movement and building an engaged community that advocates for positive legal changes and crypto-friendly regulations. This initiative marks the nation’s first ever independent on-chain advocacy organization, driven by and for crypto enthusiasts. As of now, the initiative boasts 54 161 supporters on its webpage.

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Singapore’s Central Bank Unveils Stablecoin Regulatory Framework

Singapore’s Central Bank Unveils Stablecoin Regulatory Framework

Singapore’s central bank, the Monetary Authority of Singapore (MAS), has released a final regulatory framework for single-currency stablecoins (SCS) under its regulation. MAS stated that the framework’s goal is to guarantee “a significant level of value stability” for stablecoins. This framework will be applicable to all stablecoins tied to the Singapore Dollar or any other G10 currency issued within Singapore.

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What’s Happening with SBF?

What’s Happening with SBF?

As he awaits his trial scheduled for October 2nd, Sam Bankman-Fried finds himself in the Brooklyn Metropolitan Detention Center, notorious for its unsafe and unsanitary conditions. In the past two days, two notable developments have emerged: Yesterday, his legal team sought approval from a federal judge to allow him access to antidepressants while in detention. According to a letter from his doctor, Sam has been receiving psychiatric treatment since February 2019 and “has a history of Major Depressive Disorder and Attention Deficit Hyperactivity Disorder (ADHD).” Meanwhile, federal prosecutors claim that Bankman-Fried used funds taken from FTX customers to contribute more than $100 million to political campaigns before the 2022 U.S. midterm elections. Antidepressants won’t help here either.

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GTA Developer Ventures into Web3 Gaming

GTA Developer Ventures into Web3 Gaming

In collaboration with its subsidiary Zynga, acquired for $12.7 billion last year, Take-Two is launching “Sugartown,” a web3 game built on Ethereum, marking the debut of a “major mobile game developer” crafting a crypto-based game “from the ground up.” Players will utilize Ethereum (or ERC-721) tokens to access the game, stake for energy, and earn in-game currency. Access tokens named Oras will also be minted this year as part of an initial release.

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Celebrating a milestone: WhiteBIT Coin turns one!

Celebrating a milestone: WhiteBIT Coin turns one!

A year has passed since WhiteBIT’s exchange token was unveiled on August 14th. In this brief time, the team behind it didn’t just rest on their laurels; they launched a blockchain, making WBT’s first anniversary a celebration of a genuine coin! Facing the challenges of a prolonged bear market head-on, WBT swiftly carved out its own space, gaining a legion of ardent supporters. Its market standing? A noteworthy triple of its inaugural IEO pricing and a 5th rank amidst centralized exchange tokens, as chronicled by CoinGecko. We salute this shining star and hope for further ascent, delighting all crypto enthusiasts who set the level!

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Coinbase’s Base: Pollak Debunks Centralization Myths

Coinbase’s Base: Pollak Debunks Centralization Myths

Jesse Pollak, Coinbase protocols lead, has clarified the “permissionless” nature of Coinbase’s Layer 2 blockchain, Base, on X (formerly Twitter). Responding to Gnosis founder Martin Köppelmann’s concerns about Base’s centralization, Pollak emphasized that Coinbase doesn’t have unilateral control over contracts or the ability to freeze funds on the network. Despite being the sole operator of Base’s sequencer, Pollak insists that the platform aims to be open, permissionless, and decentralized.

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CoinDesk’s Editorial Team Shrinks by 45%

CoinDesk’s Editorial Team Shrinks by 45%

The decision comes as its parent company, Digital Currency Group (DCG), is in talks to bring in strategic investors. CoinDesk’s CEO, Kevin Worth, described the move as necessary for a “financially sound business” and to facilitate the sale of CoinDesk Inc. This layoff affects 20 individuals, making up almost half of the editorial team. Earlier reports suggested CoinDesk was close to a $125 million deal led by crypto investor Matthew Roszak of Tally Capital.

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FedNow Showcases Hedera-Based Dropp Platform

FedNow Showcases Hedera-Based Dropp Platform

The U.S. Federal Reserve’s instant payment system, FedNow, has highlighted Dropp, a micropayments platform built on Hedera Hashgraph, in its Service Provider Showcase. This section connects financial institutions with providers that can assist in implementing instant payment products using FedNow. Dropp offers a digital solution for merchants to accept payments at reduced costs, leveraging DLT and banking tech. While this suggests the Federal Reserve’s growing interest in DLTs, FedNow clarifies that the showcase is merely for convenience and doesn’t imply endorsement.

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Only 13% of сrypto сompany applications approved by Britain’s FCA

Only 13% of сrypto сompany applications approved by Britain’s FCA

The UK’s Financial Conduct Authority (FCA) has disclosed details concerning the approval process for registrations of cryptocurrency-related companies. Since the beginning of 2020, out of 291 applications received, only 38 have met the criteria for approval. This culminates in an endorsement of only 13% of the requests. Meanwhile, 155 were retracted, often on the advice of the FCA, for re-submission at a later date when in better adherence to the requisite standards. In the UK, cryptocurrency companies must be formally registered with the FCA to conduct their activities within the bounds of the law.

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Frax DAO eyes acquisition of CRV tokens

Frax DAO eyes acquisition of CRV tokens

The Snapshot platform has recently showcased a proposal: allocate 1 million FRAX tokens from the treasury and use them to buy CRV tokens. This, according to the initiative’s creator, will fortify the community’s foothold in DeFi for years to come and enhance liquidity for pairs involving FRAX.

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Coinbase expands to Canada with official launch

Coinbase expands to Canada with official launch

Coinbase, the cryptocurrency exchange, has joined forces with Peoples Trust Company. This collaboration facilitates access to the Interac e-Transfers system, streamlining deposit and withdrawal processes for its Canadian user base. What’s more, they’re gifting users a one-month free gateway into the Coinbase One subscription. This means no trade-related fees, amplified staking profits, and swift client support. “Canada is well positioned to be a global leader in the cryptoeconomy thanks to the high levels of crypto awareness, a passionate local tech ecosystem, and the progress towards a strong regulatory framework,” voiced Nana Murugesan, the International Development VP at Coinbase.

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BALD Scammers Move Millions

BALD Scammers Move Millions

The BALD project’s scammer team managed to relocate 7000 ETH ($13 million) from Base network into Ethereum. Not stopping there, they sent 2100 ETH (around $4 million) to the Kraken exchange, possibly gearing up for a grand withdrawal. Want the full story on this crafty meme coin scam? Read all about it in our detailed article!

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Uniswap developer dismissed due to fraudulent activity

Uniswap developer dismissed due to fraudulent activity

Hayden Adams, the founder of Uniswap Labs, has dismissed a developer known by the pseudonym AzFlin following allegations of creating a FrensTech meme coin and then withdrawing liquidity shortly after its launch. Preliminary damages are estimated at 14 wETH, equivalent to approximately $25,830. Adams stressed that the company does not condone such actions and, therefore, felt compelled to respond accordingly. The developer denies the accusations of fraud and describes the situation as FUD. According to him, he only withdrew 1 ETH from the liquidity pool, which he had initially provided from his own funds.

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Opinion

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Shibetoshi Nakamoto: The Man Behind Dogecoin and the Meme Revolution

Shibetoshi Nakamoto: The Man Behind Dogecoin and the Meme Revolution

Shibetoshi Nakamoto didn’t wear hoodies or chase venture capital. He never claimed he was going to reinvent finance or save the world with blockchain. He just cracked a joke.

Cathie Wood: A Disruptor or a Dreamer Losing Touch With Reality?

The Visionary Behind Crypto.com: Kris Marszalek’s Rise to Fame

Investigation

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Zora Network Reviewed: A Testnet Guide

Zora Network Reviewed: A Testnet Guide

Are sky-high Ethereum fees getting you down? The folks at Zora have come up with an alternative, introducing their Layer 2 solution with lower transaction fees. This article will walk you through how to get involved with the project and earn some rewards.

What is Liquidity and How Does It Work in Crypto?

Altitude: An Overview of the Project and Testnet Guide