Crypto News- Over the weekend in the crypto space, Tether (USDT) confirmed freezing 326 wallets linked to criminal activities, totaling $435 million as of December 15. Tether is actively collaborating with U.S. law enforcement agencies, having frozen these wallets to combat illegal content dissemination.
Furthermore, Tether initiated a voluntary wallet-freezing policy on December 9 to address criminal and terrorism-linked transactions with USDT. The stablecoin issuer highlighted its commitment to supporting law enforcement, enforcing sanctions, and combating illicit activities within the cryptocurrency space.
Crypto’s Weekend Roundup: Key Events and Developments Unveiled
In a separate incident, the Canadian-based Bitcoin “pay friends” app Shakepay reported a security breach, revealing that some customer information had been compromised due to suspicious activity on an employee’s work device. While only personal data was affected, Shakepay assured that no financial information or customer credentials were compromised. The company is working with law enforcement and offering free credit monitoring for two years to affected customers.
Additionally, Bitcoin Ordinals-based development platform Tap Protocol secured $4.2 million in funding led by Sora Ventures. The investment will be utilized to enhance decentralized finance, tokenization, and gaming applications on the Bitcoin platform.
Lastly, Jan van Eck, the CEO of investment management firm VanEck, expressed optimism about Bitcoin’s future, predicting it will surpass its all-time high of $69,000 within the next 12 months. Van Eck dismissed claims of a Bitcoin bubble, emphasizing the asset’s consistent outperformance throughout market cycles.
Other notable events include a security breach in the Solana-based gaming ecosystem Aurory, resulting in an 80% drop in liquidity, and the Ministry of Finance of Palau launching the second phase of its Palau Stablecoin (PSC) program in collaboration with Ripple.
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