This week’s stories spanned exchange security, prediction markets, bitcoin treasury risk, earnings and tokenization. Binance investigated a potential multibillion-dollar hack, while Kalshi raised another $1 billion at a $40 billion valuation.
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The crypto exchange said it has begun phased withdrawals after the record hack the FBI has blamed on North Korea.
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Circle’s second-quarter accounts trace $701.315 million in revenue and reserve income to $48.214 million in net income, after distribution costs, operating expenses and taxes.
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Despite the recent hack that affected Binance, causing over $6 billion in losses to the company, industry leaders still believe that the cryptocurrency market might benefit from a downturn in the U.S. tech/AI equity sector, with investors …
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Deposits have remained available throughout the incident and were not affected, the company noted.