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first_img The Bank of America group sued the OCC, accusing it of overstepping its authority by issuing trust licenses to cryptocurrency companies

The Independent Community Bankers of America (ICBA) filed a lawsuit against the Office of the Comptroller of the Currency (OCC) in federal court on Friday, accusing it of exceeding its statutory authority when issuing national trust bank charters to cryptocurrency companies. The ICBA stated that the OCC is implementing "broad new powers not authorized by the National Bank Act," allowing these companies to enter the U.S. banking system without being subject to the same level of regulatory oversight as community banks, putting small banks at a "serious competitive disadvantage."The ICBA is one of the largest banking advocacy organizations in the United States, primarily representing small institutions. Last month, the organization strongly opposed the Digital Asset Market Structure Bill, which failed to advance in the U.S. Senate, arguing that its stablecoin provisions did not protect community banks from direct competition for deposit accounts. ICBA President and CEO Rebeca Romero Rainey stated that Congress did not establish the national trust charter to provide a "backdoor" for cryptocurrency companies seeking to enter the banking system with the credibility of a federal bank charter, as these companies do not bear the same obligations regarding capital, liquidity, regulation, and Federal Deposit Insurance Corporation (FDIC) insurance requirements. An OCC spokesperson responded to CoinDesk that the agency does not comment on ongoing litigation.Recently, the OCC has continued to issue trust charters to cryptocurrency companies, but these companies' business models differ from those of typical community banks and do not offer cash deposit accounts that require FDIC insurance. Approved institutions include cryptocurrency banks Protego and Erebor, as well as existing cryptocurrency firms like Coinbase, Circle, and Crypto.com.

Arthur Hayes: The increase in currency issuance may drive up cryptocurrency prices

According to Cointelegraph, Arthur Hayes stated that U.S. policymakers may support the AI industry and government debt financing by increasing the money supply, driving up cryptocurrency prices. If China shifts from limited tightening to large-scale monetary stimulus, it may also boost demand for scarce assets. He is also paying attention to financial pressures in France, including credit default swaps related to BNP Paribas and the spread of French government bonds.Catrina Wang, General Partner at Portal Ventures, stated that banks and asset management companies have an advantage in on-chain financial markets due to existing customer relationships. Todd McDonald, co-founder of R3, pointed out that public chains can help institutions reach customers beyond their own networks. Justin Kugel, Executive Vice President of Growth at World Liberty Financial, mentioned that the demand for asset management and investment evaluation still leaves room for intermediaries.Chetan Karkhanis, Senior Vice President of Digital Asset Client Relations at Franklin Templeton, stated that the company has no intention of issuing its own stablecoin and hopes to provide investment returns through tokenized money market funds. Haonan Li, co-founder and CEO of Codex, stated that trade routes connecting Latin America, Sub-Saharan Africa, and Asia are driving demand for stablecoin payments, with buyers paying eastward and manufactured goods flowing westward.Ilya Podoynitsyn, co-founder and CEO of FinHarbor, stated that companies need to confirm they have long-term idle funds that do not affect daily operations before allocating cryptocurrency assets. Michael Camarda, Chief Development Officer of SharpLink, an Ethereum treasury company, stated that both stock buybacks and increasing ETH holdings can enhance the per-share ETH ownership, and the company employs both methods to meet the preferences of institutional and retail investors.

first_img Spanish police arrested a 16-year-old boy involved in operating the KillSec ransomware group

According to Decrypt, the European Union's law enforcement agency reported that Spanish police arrested a 16-year-old Romanian suspect in Alicante, suspected of being an administrator and main operator of the ransomware group KillSec.Two other suspects in their twenties were arrested in the UK and Romania, respectively; another developer who just turned 18 in August this year has been identified but has not been arrested due to some crimes occurring during their minor years.This operation, codenamed Operation KillSwitch, was led by the Hamburg State Criminal Police and the city's prosecution office, focusing on approximately 1,000 suspected attacks worldwide, with about 500 confirmed as successful intrusions.Law enforcement searched eight locations in Spain, Greece, Romania, and the UK, seized five central servers, and redirected related domain names to seizure announcement pages, while also confiscating at least 110 TB of stolen data.KillSec has been active since around 2024, exploiting software vulnerabilities and poorly secured cloud storage entry points to infiltrate corporate systems, copying internal data and naming victim organizations on dark web leak sites, threatening to publicly release documents to demand cryptocurrency ransoms, and if the target refuses to pay, they release the data for free.The Swiss Federal Police noted that the group also employed double extortion tactics, first encrypting servers and then applying pressure. U.S. prosecutors' charges indicate that a Dutch national residing in the UK, Fouad Eltibrizi (nicknamed Archduke), was indicted by a federal grand jury in Puerto Rico on September 16, subsequently arrested, and awaiting extradition, facing up to 10 years in prison. The European Cybercrime Centre, under the European Union Agency for Law Enforcement Cooperation, is assisting in tracing cryptocurrency funds and conducting digital forensics.

first_img Core Lightning warns that old version nodes are under attack and urges operators to upgrade immediately

The Core Lightning team, which develops the open-source Bitcoin Lightning Network node software, has issued an urgent alert stating that reports indicate attackers are targeting nodes that have not installed patches, urging operators still running old versions to upgrade immediately. The team stated: "Emergency security update: If you are using version 26.06.7 or earlier, please upgrade to the latest release as soon as possible."Prior to this, Core Lightning began investigating a potential issue that could affect its experimental features and, in turn, impact user funds on September 16, and approximately six days later, version 26.06.8 was released. This update not only fixed several defects but also provided patches for security vulnerabilities reported responsibly by multiple parties, thanking the Bitcoin Red Team and 12 other individuals and organizations in the release notes, while also acknowledging anonymous reporters.According to the changelog, this round of fixes covers a bug that could cause sender nodes to crash, requests that could exhaust REST interface memory, and a vulnerability that could result in user funds facing confiscation losses when closing payment channels. To provide operators with ample upgrade windows and prevent attackers from taking advantage of reverse engineering and exploitation, this version intentionally obscured some testing content. Additionally, in August of this year, the project initiated a collaborative fixing process after reviewing a large number of AI-generated general vulnerability disclosure reports, and two days later released version 26.06.7 to close confirmed vulnerabilities.
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