The largest Defi hack was committed against Poly Network last week.

Read: Poly Network Hacked For $611 Million Which Is Biggest Defi Hack Ever

The Hacker was able to steal $611 million of funds. After being approached by the Poly Network with a request of giving back the funds and also threatening him with legal actions. The hacker said that he is a white-hat hacker and has no intentions of using the stolen assets. He later returned most of the funds.

Read: PolyNetwork Hacker That Stole $600 Million From Poly Network Is Ready To Return The Funds

Recently PolyNetwork offered…


The Shenzhen Center Branch of People’s Bank of China announced that 46 companies were being investigated for virtual currency trading. The Central Bank of Shenzhen Province issued a notice to shut down the crypto trading activities of 11 companies with immediate effects.

Local reports claim that the Shenzhen branch of the Chinese central bank had compiled a list of 46 companies involved in illegal virtual currency trade.

To identify and correct illegal virtual currency, This branch has rectified a well-known domestic financial website that had violated foreign currency trading companies, the Shenzhen branch’s special task force was established.

Colin Wu…


The Digital Currency and Cryptocurrency Product Lead will create a brand’s digital currency strategy, define and drive the product vision, and identify and lead technology and consumer trends.

Walmart is seeking a blockchain and digital currency expert with 10 years of product experience. Amazon also posted a similar vacancy in July.

The new person will also be responsible for crypto investments and partnerships at Walmart.

Walmart job description says:

“As Digital Currency/ Cryptocurrency lead at Walmart you will be responsible for developing the Digital Currency strategy and product roadmap. As an expert in Digital Currencies/ Cryptocurrency and Blockchain related technologies…


Recently Bank of Korea announced that it would make an offer to select its technological supplier for the central bank digital currency (CBDC).

Ground X, whose Klaytn platform hosts the CBDC, won the contract despite stiff competition.

An anonymous bank executive stated that the South Korea CBDC pilot program aims to determine whether it is possible to make payments using mobile phones with digital currency but without internet access. Also, whether CBDC remittances can be sent to other mobile phone or connected bank accounts will be tested.

He further said:

“Samsung Electronics has recently decided to participate in the BOK-led…


Grayscale, one the most prominent digital asset managers, has released an update on its total crypto assets under management recently. Among $41 Billion in crypto assets, Grayscale owns more than 3 million Ethereum valued at over $10 Billion.

Grayscale’s latest data shows that the company’s AUM was $41.4 billion as of August 13, 2021. This is 25% more than the $33 billion it had on July 28, 2021.

The accumulation of Ethereum has been significantly accelerated by Grayscale since 2021. The American company added almost 20,000 Ethereum to its holdings in the first week of March. …


Bank of America analysts stated that El Salvador’s decision to recognize Bitcoin as legal tender could facilitate money transfers, financial digitization, give consumers more options, and open the country up to US companies and digital currency miners.

Read: Microstrategy CEO, Michael Saylor Defends $2.2 Billion Debt-Financed Bitcoin Buys

Bank of America, the US’s largest bank, recognized many benefits that Bitcoin offers El Salvador in an extraordinary gesture of support.

According to the bank, the introduction of Bitcoin could reduce the cost of sending remittances. These remittances account for almost a quarter of the country’s gross national product. …


MicroStrategy CEO Michael Saylor on Friday defended his enterprise software company’s debt-financed purchases of bitcoin, telling CNBC he sees buying the cryptocurrency right now as comparable to investing in Facebook in the social network’s early days.

He said:

“We’ve got $2.2 billion of debt and we pay about 1.5% interest, and we have a very long time horizon,” Saylor said on “Squawk on the Street.” “Our point of view is being a leveraged, bitcoin-long company is a good thing for our shareholders.

If you borrow billions of dollars at 1% interest and invest it in the next Big Tech digital…


State Street Corporation, an American financial services and bank holding company headquartered in Boston with operations all over the globe to Offer Crypto Services to Private-Fund Clients. State Street Corporation is the 2nd oldest bank in America.

Read: 57,000 Bitcoin Left Crypto Exchanges In 24 Hours Showing Bullish Sentiments Along With 465,000 Bitcoins Transferred Between Coinbase And Unknown Wallets

Bloomberg reports that State Street Corporation is one of the most important banking holding companies in America and is now ready to offer crypto services for its private clients.

State Street Corp. plans to offer cryptocurrency reconciliation, reporting, and processing services…


PayPal, the World Top payment provider company, has stated that its users will not need to wait longer for great crypto functionalities app coming soon.

Read: Michael Saylor “Bitcoin Is Digital Real Estate And Is Now Held By More Than 114 Million People, Making It The Most Widely Held Financial Asset In The History Of The World”

In a PayPal’s Q2 2021 investor update call, CEO Dan Schulman said that the initial version of the company’s Super App was code complete. …


Kazakhstan will soon allow cryptocurrency-related bank accounts to customers. Astana Times, the national news agency of Kazakhstan, reports that citizens of Kazakhstan will soon be able to buy bitcoins, convert their income into cash and sell crypto on an exchange market.

Read: Whether They Like It Or Not, Banks Are Becoming Bitcoin Banks

According to the Kazakhstan Association of the Blockchain and Data Center Industry, crypto exchanges that are registered under the Astana International Financial Center (AIFC) will soon be able to work with local banks. This will allow their clients to legally and openly use cryptocurrency.

An investor must…

The Crypto Basic

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