🔚🇩🇪 German Government's BTC Holdings Deplete

In today’s edition: 😅 SEC clears Paxos in BUSD case, 🫣 Over 100 crypto domains at risk, 🚨 50% of illicit funds end up on centralized exchanges, and more!

Jul 12, 2024

👯‍♀️ Refer Unchained with a friend and earn a Premium subscription

Gevulot is the universal proving infrastructure for ZK. Try ZkCloud with free usage, plus extended grant opportunities for premier customers, until 'Q1 2025.

Build app-specific rollups with Web2 tooling without the constraints of Web3! Explore grants of up to $50,000 to bootstrap your project and start building! Learn more.

What’s Poppin’?

by Sage Young and Sam Sriram

German Government Has Under 6,400 Bitcoin Left to Sell

After a selling spree spanning the better part of three weeks, the German government’s bitcoin holdings have dropped under 6,400 BTC.

SEC Ends Investigation Into Paxos Over BUSD

Stablecoin provider Paxos received a formal letter from the SEC stating that the regulator will not pursue an enforcement action against the firm in its investigation of the BUSD stablecoin.

Front-end Domains of Over 100 Crypto Projects Are at Risk of Attack via Squarespace

Two prominent crypto projects have been exploited and many more could be at risk after two-factor authentication (2FA) was disabled, at the front-end, for projects using Google Domains amid a migration to Squarespace.

50% of Illicit Funds End Up At Centralized Crypto Exchanges: Chainalysis

Illicit actors turn to centralized exchanges for laundering because of liquidity, integrations with traditional finance and ease of connecting crypto to fiat, according to Chainalysis.

Daily Bits… ✍️✍️✍️

📱 A judge suggested that Coinbase should significantly alter its subpoena request for SEC Chair Gary Gensler’s personal communications, labeling the current effort as inappropriate and calling for a more formal review process.
📝 Binance is in final negotiations to sell most of its shares in South Korean crypto exchange Gopax to Megazone, reducing its stake to around 10%.
📄 Ethereum ETF issuers await the SEC's decision on their final filings, hoping for imminent approval following a series of revisions.
🐹 Hamster Kombat founders revealed the game's origins and plans for a second airdrop after this month's initial token distribution.
🗳️ The U.S. House of Representatives failed to override President Biden's veto on a resolution to overturn SEC Staff Accounting Bulletin No. 121, which remains in effect.
💳 Coinbase launched an app designed to help users consolidate and manage multiple onchain wallets and activities, aiming to simplify the user experience, especially for beginners.
🎤 Rapper Iggy Azalea’s MOTHER token experienced a 50% increase in value after announcing a collaboration with crypto market maker DWF Labs.
🌍 Worldcoin is far from its goal of one billion users by 2023, having only verified six million users since its launch.
⚡ Malaysia's government attributes $682 million in electricity theft since 2018 to Bitcoin mining activities, highlighting the strain on the national power grid and reinforcing efforts to address the issue.

The $$$ Corner…

💼 Partior, a blockchain payment network backed by JPMorgan, DBS, and Standard Chartered, secured $60 million in Series B funding with investments from Peak XV Partners, Valor Capital Group, and Jump Trading Group.
🌐 Morgan Creek Digital is seeking to raise $500 million for a new venture capital fund focused on early-stage AI, blockchain, semiconductor, and data investments in regions such as Europe, the Middle East, Africa, and Asia-Pacific.

What Do You Meme?

📈 Your Market Update 📉

BTC is down 2.4%, trading at $56,898
ETH is down 2.9%, trading at $3,052
BTC dominance: 50.85%
Crypto market cap: $2.21T

*All data as of today, 06:23 am ET. Source: CoinGecko

We Are Hiring!

A Bitcoin Reporter to cover all things Bitcoin. See the details and apply here.
A Regulatory Reporter to cover regulatory topics in the space. See the details and apply here.
A Senior Editor to help assign and edit daily news stories, as well as work on features and other editorial projects as needed. See the details and apply here.
An Audience Development Director to broaden the reach of the publication’s content, whether through the web, social media, newsletters, podcast platforms, or videos. See the details and apply here.

🔝 Are you hiring and want to promote the postings in the Unchained newsletter? Let us know!

Thank you for reading Unchained. This post is public so feel free to share it. 📩📤