Drift gets $148 million rescue fund and Tether will replace Circle’s USDC for settlement after massive exploit

Drift Protocol, a victim of the recent North Korea breach, said on Thursday it plans to relaunch Tether’s USDT as its settlement layer after securing a proposed financing package of up to $147.5 million from stablecoin issuers and partners. The deal, which includes up to $127.5 million from Tether and $20 million from other partners,…

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VerifiedX launches Bitcoin privacy layer amid industry push to close institutional privacy gap

Amid the growing push in the Bitcoin space to bring privacy to public blockchains, VerifiedX has launched a new layer designed to protect transactions while maintaining auditability. The system, called Prism, supports crypto balances, masked addresses and selective disclosure, allowing users to trade privately while still demonstrating compliance if needed, according to an email announcement…

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Starmer faces calls to resign as UK government admits ambassador to US failed vetting process

LONDON (AP) — British Prime Minister Keir Starmer faced calls to resign on Thursday after Peter Mandelson was initially denied security clearance to serve as ambassador to the United States and was eventually fired over his close ties to disgraced sex offender Jeffrey Epstein. After the Guardian revealed the matter, the British government said Starmer…

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Starmer faces calls to resign as UK government admits ambassador to US failed vetting process

LONDON (AP) — British Prime Minister Keir Starmer faced calls to resign on Thursday after Peter Mandelson was initially denied security clearance to serve as ambassador to the United States and was eventually fired over his close ties to disgraced sex offender Jeffrey Epstein. After the Guardian revealed the matter, the British government said Starmer…

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FCA releases finalized cryptoasset rules that include several technical traps to watch out for

The UK’s Financial Conduct Authority (FCA) is proposing cryptocurrency rules that could quietly expand the definition of custody, potentially sweeping in platforms and software providers that don’t consider themselves custodians. The FCA published Cryptoasset Boundary Guidance on Wednesday, which includes a number of technical pitfalls for firms handling clients’ cryptoassets. The rules draw a red…

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