Major Crypto Firms Make Waves in Latest Industry Developments


Global financial technology leader, Polkadot Network, has announced the launch of the native USDC stablecoin. USDC is a digital currency pegged to the US dollar, backed by fiat currency reserves. The Polkadot users and developers of DApps (decentralized applications) will be able to make faster, cheaper and more scalable transactions on the Ethereum blockchain.

The Polkadot Multi-chain platform allows interoperability, innovation and collaboration across multiple blockchains, with the USDC reserve attestation system providing a transparent, trust-based network.

Recent Bitcoin price fluctuations have seen investors adopt different strategies; with some short-term investors cutting their losses or taking profits, while others are building up more coins to be used in the future. This suggests that there are divergent expectations and strategies in the crypto market, with short-term investors being more sensitive to events and news, compared to long-term investors who are more confident about the fundamentals.

Chainalysis, a blockchain-analysis company, has revealed that North Korean hackers are using Russian intermediaries to launder stolen money. According to the report, the hackers have been attacking cryptocurrency exchanges and financial institutions since 2017, and have amassed more than $300 million in digital assets. The report further suggests that the hackers may be motivated by economic sanctions imposed upon North Korea and are attempting to evade them by using cryptocurrency.

The U.S. Securities and Exchange Commission (SEC) is also monitoring crypto platforms offering trading or lending services without being registered as brokers or dealers. The SEC is concerned with the lack of transparency and protection for investors in the cryptocurrency market, in particular in relation to decentralized financial (DeFi) and initial coin offering (ICO) projects. This comes as the U.S. crypto industry is under increased regulatory scrutiny and the SEC has recently filed lawsuits against a number of crypto firms, including Ripple, Coinbase and Uniswap Labs.

Aptos Labs, one of the leading providers of crypto wallets, has announced it has integrated Coinbase Pay. Coinbase Pay enables users to send and receive payments in digital currencies such as Bitcoin, Ethereum and Litecoin, without having to deal with complex addresses or fees. Users can also access their Coinbase account balance and transaction history within the Aptos Labs app. This integration is designed to offer customers a seamless and secure way to handle their crypto assets and payments, and is expected to improve user experience and convenience, while also attracting more users interested in decentralized finance. Aptos Labs Co-founder and CEO commented: “We are thrilled to partner with Coinbase and bring their innovative payment service to our crypto wallet. We share a common vision of making crypto more accessible and usable for everyone, and we believe that Coinbase Pay will help us achieve that goal.”

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