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Waves founder says hackers compromised company, Ripple judge won’t seal crypto speech

Waves founder says hackers compromised company, Ripple judge won’t seal crypto speech

A judge has shot down a US SEC motion to seal documents linked to a 2018 Ripple speech. Credit: DIAMOND VISUALS/Shutterstock.

Waves founder says hackers compromised company

Hackers broke in and lurked within the Waves’ infrastructure for six months and tried to extort the company, Aleksandr Ivanov said in an exclusive interview with DL News.

He alluded to “similar situations” happening before, but did not elaborate on what those situations were.

Ivanov also addressed how he had told a Telegram detractor in April that he would visit them “with one of my Russian mafia friends.”

“I have no ties to the Russian mafia,” he said, adding that he was only joking in the Telegram.

The news marks the latest twist in the beleaguered blockchain business’ saga, which is still reeling from an alleged theft on its lending protocol Vires Finance in April 2022.

Many of the investors who lost over $530 million in the alleged theft have accused Ivanov of being behind the scheme, accusations that he has repeatedly denied.

NOW READ: Waves Labs suffered ‘financial damage’ in six-month-long hack

Judge in Ripple case denies SEC motion to seal controversial crypto speech

Crypto firm Ripple made traction in court Tuesday as a judge shot down a US Securities Exchange Commission motion to seal documents linked to a 2018 speech.

The SEC sued Ripple in 2020 on accusations that the company sold its XRP tokens as unregistered securities.

In the sealed speech, former Division of Corporation Finance Director Bill Hinman called into question the SEC’s designation of Bitcoin and Ethereum as securities.

NOW READ: Ethereum gets cheaper to use as memecoin frenzy subsides: ‘Is the meme narrative finished?’

Lobbyists push back against UK Treasury Committee push to regulate crypto like gambling

Crypto lobbyists have pushed back against the UK Treasury Committee’s statement that “more closely resembles gambling than a financial service,” and that it should be regulated as such.

Ian Taylor, board advisor at CryptoUK, said the lobby group “strongly disagrees with the Treasury Committee’s conclusion and we are both concerned and disappointed by these claims which are unhelpful, false, fundamentally flawed and unsubstantiated. The statement fails to reflect the true nature, purpose and potential of the crypto industry.”

The lawmakers made the statement after the UK government asked the public to weigh in on proposed rules for crypto regulation, ahead of a new bill in parliament which will see crypto supervised as a financial service.

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NOW READ: MiCA is here. There are nine other EU crypto laws you should know about

Report claims DLT adoption would save securities industry $100bn annually

The Global Financial Markets Association said in a Tuesday report that securities markets could save more than $100 billion per year by adopting the distributed ledger technology that drives blockchain.

The advocacy group’s report called for an international framework to allow DLT markets to communicate and transact in traditional finance markets.

The GFMA also mentioned the potential for smart contracts to automate transaction settlement as well as processes such as stock splits, which it estimates would save billions worldwide.

Coinbase adds services for Singapore users as part of overseas push

Crypto exchange Coinbase will expand its Singaporean services, according to a Tuesday announcement.

Coinbase rolled out a series of updates primarily related to stablecoin USDC, as well as staking services for major crypto assets such as Ether and Solana.

Coinbase received the nod of the Monetary Authority of Singapore last year, and was recently approved for a derivatives licence in Bermuda.

NOW READ: ‘Lots of inaccuracies’: Ledger pushes back on security fears over its crypto wallet update

Robinhood asks for memecoin lawsuit dismissal

American trading platform Robinhood has pushed to dismiss a lawsuit related to its 2021 IPO which claims the company failed to disclose information related to crypto and memecoins.

Its lawyers filed for the lawsuit to be dismissed on May 12, stating that the popularity of crypto around the IPO was sufficiently widespread for “reasonable investors” to make sound investment choices on their own.

Robinhood recently paid out $10 million in settlements to various US states for technical failures that caused losses for investors.

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