#crypto

A recent CoinGecko study reveals a startling fact: over 50% of cryptocurrency projects (14,039), listed on the platform since 2014, have faced failure. The vast majority of these setbacks (more than 70%) occurred between 2020 and 2022, largely attributed to the ease of deploying tokens and the craze around meme coins.

Crypto project Injective (an L1 blockchain) has rolled out a substantial upgrade for its mainnet, dubbed Volan. This update is designed to boost scalability and compatibility and includes a host of additional enhancements.

In a significant move by U.S. authorities, Rodney Burton, a key promoter of the cryptocurrency venture HyperVerse, has been detained on accusations of conducting a fraud scheme exceeding $7 million. According to the U.S. Tax Service's filings, he masterminded a financial pyramid masquerading as a crypto investment opportunity.

Alex Bornyakov, the Deputy Minister of Digital Transformation of Ukraine, stressed that crypto assets do not hinder the country's financial stability.

The South Korean government intends to establish specific regulations targeting cryptocurrency mixers, which are used to obscure the origin of digital assets. This initiative is driven by the challenges these services pose in tracking money laundering conducted by criminal organizations.

Crypto company Telcoin has completely compensated its users for losses ($1.2 million) incurred from an application breach at the end of 2023 due to a technical vulnerability. The issue originated from a flawed Polygon wallet implementation, but it did not compromise administrative keys.

The South Korean government has expressed opposition to the approval of Bitcoin or any other cryptocurrency-based ETFs, in light of the recent shifts in the U.S. financial policy. This stance was articulated by a representative of the South Korean Financial Services Commission (FSC).

The cryptocurrency wallet imToken's team has released a statement responding to the Singapore Monetary Authority’s (MAS) decision to place the company on its Investor Alert List (IAL). This list is designed to warn potential investors about companies that may be problematic or suspicious.

Financial company COCA, in partnership with Wirex, has introduced a new non-custodial MPC wallet. It boasts multiple keys for enhanced control and includes support for a debit card, effectively creating a decentralized banking card for seamless payments at various terminals.