Dubai Customs Introduces Blockchain Platform
Dubai Customs has launched a brand new blockchain platform to streamline provide chain operations inside Dubai and throughout its borders. The initiative, introduced on July 8, is a part of Dubai’s broader technique to cement its place as a number one sensible metropolis.
The blockchain answer goals to expedite customs clearance and business transactions by simplifying procedures and decreasing effort and time. It’ll additionally improve provide chain transparency via safe information sharing and paperwork discount.
Crypto Information: Solana ETF Resolution Anticipated Mid-March
The U.S. Securities and Trade Fee (SEC) is anticipated to make a ultimate resolution on spot Solana exchange-traded funds (ETFs) round mid-March 2025. The Chicago Board Choices Trade (CBOE) has submitted functions on July 8 to checklist proposed ETFs from VanEck and 21Shares.
CBOE submitted two Type 19b-4 functions, drawing parallels between Solana funds and the lately accredited spot Bitcoin and Ether ETFs. The alternate argued that Solana’s decentralization, throughput, and pace make it proof against manipulation just like Bitcoin and Ethereum.
You May Additionally Like: Solana ETF Launch Relies upon Closely on the Election Final result: VanEck Advisor
Doja Cat’s Twitter Account Compromised
In style American artist Doja Cat’s Twitter account was hacked and used to advertise a Solana-based meme coin. The hack started on July 8, with the hacker posting over two dozen posts and eradicating Doja Cat’s profile image and bio from her account. Her hacked Twitter account has 5.6 million followers.
The singer shortly knowledgeable her 24 million Instagram followers that she was not answerable for the posts. Blockchain information and market data point out that the brand new $DOJA token has seen some exercise following this incidents. Fewer than 15,000 transactions generated about $2.2 million in quantity.
Crypto Information: BlackRock’s BUIDL Reaches $500M
The BlackRock USD Institutional Digital Liquidity Fund (BUIDL) has achieved a market cap of $500 million. Now, it has turn into the primary tokenized treasury fund to succeed in this milestone. Launched lower than 4 months in the past, BUIDL at the moment holds $502.8 million price of tokenized Treasury.
BUIDL’s price is pegged 1:1 with the U.S. greenback and distributes each day accrued dividends to traders month-to-month via its partnership with Securitize. Ondo’s OUSG is the biggest BUIDL holder at $173.7 million. Moreover, stablecoin issuer Mountain Protocol additionally makes use of BUIDL to again its permissionless yield-bearing stablecoin, USDM.
Crypto Exploits Close to $1.4B in 2024
In response to a cybersecurity agency Cyvers, the overall quantity of stolen crypto funds in 2024 is approaching $1.4 billion, with centralized exchanges changing into the brand new focus for exploits. In Q2 2024, whole crypto losses exceeded $600 million, marking a 100% improve in comparison with the identical interval in 2023. This was primarily pushed by a 900% improve in losses on centralized exchanges.
Entry management breaches accounted for almost all of stolen funds, round $490 million in Q2 alone. This determine far exceeds losses from sensible contract exploits, which noticed lower than $70 million drained throughout the identical interval. The report additionally highlighted cross-chain bridges as an rising assault vector, citing the $1.44 million exploit of XBridge in April.
Observe CoinChapter to remain up-to-date on the most recent crypto information and insights.