Digital Asset Manager ParaFi Raises $125 Million for Venture Fund

WazirX will resume operations on October 24 with zero trading fees after a year of legal hurdles and creditor votes. The exchange plans to issue Recovery Tokens to creditors and has partnered with BitGo for enhanced asset custody.

A whale recently purchased $32 million worth of Ethereum on OKX, while SharpLink and Bitmine Immersion Technologies accumulated significant amounts of ETH. Meanwhile, a whale transferred 515,000 SOL to Binance, signaling a preference for Ethereum over Solana.

Cryptocurrency exchange Cryptomus has been fined a record $126 million (CA$177 million) by Canada's financial intelligence agency for failing to report over 1,000 transactions linked to criminal activity, including child sexual abuse material, fraud, and sanctions evasion. The agency also found deficiencies in Cryptomus' policies and procedures for monitoring and client identification.

Bunni has announced its permanent shutdown due to an $8.4 million hack, citing insurmountable recovery costs. The attack exploited the platform's Liquidity Density Function across two pools, leading to drained funds and the decision to cease operations.

KuCoin has introduced KuPool, a new mining pool service supporting assets like Dogecoin, Litecoin, and soon Bitcoin. The service offers a trust-based hash rate mechanism and deep integration with KuCoin and KuMining for the company says is fair reward distribution.

Neobank Revolut has obtained a MiCA license from the Cyprus Securities and Exchange Commission, allowing it to offer crypto services across 30 European countries. Revolut's wealth business, including crypto products, saw a 298% increase in revenue in 2024.

WazirX, India's former top cryptocurrency exchange, is set to resume operations on October 24 after a year of uncertainty due to a major security breach. The restart follows a court-approved restructuring under Zettai Pte. Ltd., the exchange's parent company, with plans for repayments and enhanced security measures in place.

Paxos CEO explained the accidental minting of $300 trillion worth of PayPal's stablecoin as a manual security lapse on Ethereum. The incident, though significant, did not result in any real losses and was quickly contained within the company's internal systems.

Hyperliquid's HYPE token is defying the market trend, with a 7% increase in 24 hours, while BNB Chain's Aster is down 7.6%. A corporate pivot involving Sonnet BioTherapeutics merging with Rorschach I LLC to form Hyperliquid Strategies Inc. will inject significant capital into the ecosystem.

Coinbase has introduced Payments MCP, allowing AI agents to conduct autonomous transactions using a standardized protocol. This system enables machines to create wallets, fund accounts, and make stablecoin payments seamlessly.