News & Research

Web3 security project GoPlus has walked back an earlier claim that Venus Protocol, a decentralized lending platform on BNB Chain, may have been the target of a $2 million exploit. In an update posted on X, GoPlus clarified that although the stolen assets included a significant amount of vTokens such as vUSDT, there is no current evidence linking the affected contract to Venus Protocol. The original post alleging the attack has been removed, and GoPlus said a detailed analysis report will be published soon. The initial claim had suggested that the incident could be related to maximal extractable value (MEV) exploitation and permission management vulnerabilities.

KB Kookmin Bank, a major South Korean commercial bank, has initiated the process of obtaining trademark rights related to stablecoins, according to local outlet Newsis. This marks the first such move by a traditional bank in the country and follows a similar step by KakaoBank, the digital bank affiliated with messaging giant Kakao, which previously filed trademark applications for names such as BKRW, KRWB, KKBKRW and KRWKKB. KB Kookmin's proposed trademarks include combinations of "KB" and "KRW," the symbol for the Korean won, such as KBKRW, KRWKB, KBST and KRWST.

Lawrence Chu, co-founder and CEO of IDA, a company focused on developing a suite of regulated stablecoins in Hong Kong, said his company plans to apply for a stablecoin license under the city's regulatory framework, according to Wen Wei Po. Chu noted that the primary use cases for stablecoins in Hong Kong are expected to include cross-border trade and investment settlement.

Eight major South Korean banks are preparing to launch a joint venture to issue a won-based stablecoin, according to local news outlet Economic Review. The participating banks are KB Kookmin, Shinhan, Woori, NongHyup, Industrial Bank of Korea (IBK), Suhyup, Citibank Korea and Standard Chartered Bank Korea. The project is being developed in collaboration with the Open Blockchain & Decentralized Identifier Association (OBDIA) and the Korea Financial Telecommunications & Clearings Institute (KFTC). While discussions about shared infrastructure are still underway, the joint venture could launch by the end of this year or early next year, pending regulatory developments. Two issuance models are currently under consideration: a trust-based model, where customer funds are held in a separate trust before stablecoins are issued, and a deposit-token model, which pegs the stablecoin to bank deposits.

U.S. Fed Chair Jerome Powell said current interest rates are high enough to allow for future cuts if necessary, according to JinSe Finance. He emphasized patience but noted the Fed is ready to act if the labor market weakens or inflation remains stable.

ProCapBTC, the publicly traded firm founded by crypto investor Anthony Pompliano, has acquired 3,724 Bitcoin worth $386.5 million at an average price of $103,780, according to crypto insights platform Unfolded on X. The purchase is part of the company’s previously announced goal to accumulate up to $1 billion in Bitcoin through strategic funding.

Chainlink has partnered with Mastercard to allow nearly 3 billion Mastercard users to buy cryptocurrencies directly on-chain, according to crypto insights platform Unfolded on X.

SharpLink Gaming, a Nasdaq-listed online technology company, announced it has acquired an additional 12,207 ETH for $30.7 million, bringing its total Ethereum holdings to 188,478 ETH, according to GlobeNewswire press release. The purchase was made between June 16 and June 20 at an average price of $2,513 per ETH.

Decentralized prediction market platform Polymarket is close to finalizing a $200 million funding round, which would push its valuation above $1 billion, according to The Information, as cited by Wu Blockchain on X. The new capital is expected to support Polymarket’s expansion and regulatory efforts.

U.S. asset manager Grayscale has introduced a new investment trust offering exposure to SXT, the native token of Space and Time—a blockchain platform backed by Microsoft’s VC arm and focused on AI and verifiable data, according to CoinDesk. The trust is available to eligible individual and institutional investors.