Crypto exchange Coinbase buys Circle stock; FBI seizes $1.7 million in cryptocurrency; Friend.tech denies news that its users’ database was leaked!
Crypto exchange Coinbase buys Circle stock!
Crypto exchange Coinbase has acquired Circle shares. It was announced that both companies will dissolve the Centre Consortium partnership, which handles the issuance of USDC Coin (USDC). With this move, Circle is expected to bring the USDC issuance process and management completely in-house.
In addition, plans to integrate six blockchains into USDC were announced. With this integration, the total number of blockchains will be increased to 15.
In addition, no details were shared about what percentage of Circle shares Coinbase purchased.
According to someone closely following the issue, Coinbase did not pay for the shares it purchased in cash.
Stablecoin market is reshaping
Recently, the stablecoin market has been reshaped with many new initiatives and steps taken in the sector. Global payment giant PayPal launched its own stablecoin, PayPal USD (PYUSD), in recent weeks.
The steps taken by fintech companies regarding the stablecoin market continue to reshape the sector to a great extent. PayPal is rumored to have launched PYUSD to rival Tether, which dominates the stablecoin market, and rumors of its new step have engulfed the entire industry.
FBI seizes $1.7 million in cryptocurrency
The Federal Bureau of Investigation (FBI) announced the seizure of $1.7 million worth of cryptocurrency.
According to a filing by the agency, the FBI seized $1.7 million in cryptocurrency between March and July.
According to the FBI, these assets were acquired by criminals in violation of federal law.
The majority of the cryptocurrencies seized by the FBI consist of Ether. It was stated that the amount of Ether obtained was worth approximately $800,000. In the state of Virginia alone, $463,811 worth of Ether was seized.
The feds seized the most cryptocurrency in Florida and Virginia among all US states.
The FBI announced that it also seized a large amount of stablecoins. As a result of an investigation, $469,000 worth of DAI was seized in the eastern region of Virginia. However, a smaller amount of USDT was also seized.
Other large cryptocurrencies seized by the FBI included $147,000 worth of BTC and $20,000 worth of XMR.
Other cryptocurrencies seized included SOL, ADA and DOGE.
It was noteworthy that the FBI’s confiscations included 46 accounts linked to Binance. However, other major cryptocurrency exchanges such as Coinbase, Kraken, Kucoin and OKX did not experience a similar situation.
Friend.tech denies news that its users’ database was leaked
Decentralized social media platform Friend.tech has denied that the personal information of more than 100,000 of its users was leaked.
The report, originally published by The Block and now amended, suggested that the data published by Banteg, the pseudonymous developer of Yearn Finance, was leaked information.
However, the Friend.tech team clarified that the information came from a scan of its public API.
The underlying data is public and anyone can decode it by reading a block scanner. If you buy a share, 5 percent goes to the creator’s wallet and he has to fund his wallet. The database only destroys this public information.
Banteg first published on GitHub a repository of publicly available scraped data containing details of users on the Friend.tech platform.
This data also included wallet addresses in Base linked to Twitter usernames, amounting to more than 101,000 users.
When asked how this information could be used, Spot On Chain said it could be used to game the system by allowing bots to buy shares of large accounts almost instantly as soon as they sign up for Friend.tech.
Many bots have already taken advantage of this. It monitors the contract, finds the big KOL and buys shares before others.
