Daily Insights: Updates on Crypto, Blockchain, NFTs, Web3, and Play-to-Earn Gaming

In the evolving landscape of cryptocurrency exchanges, the resilience of platforms in the face of cyberattacks has become a paramount concern One such recent incident has thrust the issue back into the spotlight, involving the Indian cryptocurrency exchange known for its sizable user base and trading volumes In a striking turn of events, this platform has taken decisive steps to address the ramifications of a cyberattack that led to a significant financial loss, announcing plans to restore user account balances to their status prior to the incident Unprecedented Cyberattack and Response A noteworthy incident occurred when the exchange suffered a cyberattack resulting in a staggering loss of $230 million This event marked a dire moment for the platform and its users, with suspicions pointing towards highly sophisticated actors, possibly with state sponsorship, behind this nefarious activity...

A Turning Point for Crypto Regulation: The House Prepares to Vote Next week marks a potential turning point for cryptocurrency regulation in the United States At the heart of the matter is the contentious Staff Accounting Bulletin 121 (SAB 121), which is designed to enforce SEC-reporting entities to include cryptocurrencies on their balance sheets This rule has sparked widespread discussion and debate, reaching as far as the White House, where President Joe Biden recently exercised his veto power against the bipartisan effort to overturn it The House's Response to a Presidential Veto In an act fulfilling their constitutional duty, the House of Representatives is gearing up to cast a critical vote that could potentially override President Biden’s veto This decisive moment has been scheduled for early next week, with potential voting sessions on Tuesday or Wednesday...