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NEW: India's central bank reiterates its call for a crypto ban and seeks lender restrictions, per Reuters. Internal documents show the RBI wants banks barred from crypto exposure as tax officials warn offshore trading complicates enforcement.
Edition 27: 22 - 28 November This week’s digital asset landscape saw major momentum across tokenization, stablecoins, and institutional adoption. Regulators in Europe and the UAE advanced frameworks for onchain finance, while new platforms from Securitize, Ondo, and WazirX highlighted accelerating innovation in tokenized markets and retail trading. Institutions continued to deepen their footprint through acquisitions, ETFs, and strategic investments, even as volatility, security incidents, and global oversight debates shaped the broader market narrative. Tokenization Securitize gained EU regulatory approval to expand operations and will launch a tokenized securities platform on Avalanche, enabling compliant issuance and trading of on-chain assets. Ondo Finance added over 100 tokenized U.S. stocks and ETFs to Binance Wallet, expanding blockchain-based access to traditionally off-chain equities. Stablecoins South Africa’s central bank warned that rising use of crypto and stablecoins poses financial-stability risks and announced updated frameworks to monitor circulation and cross-border flows. Institutional & Corporate Moves Paxos acquired wallet startup Fordefi for $100 million, strengthening its institutional custody stack. ARK Invest purchased $9.1 million of Circle and Bullish stock despite market declines, signaling continued confidence in crypto infrastructure. In Asia, Naver will acquire South Korea’s Upbit in a $10.3 billion merger—one of the region’s largest integrations of Web2 and Web3 platforms. Regulation & Government Global exchanges urged the U.S. SEC not to grant exemptions that could allow crypto firms to bypass listing and disclosure requirements. The UAE issued a new banking decree formalizing custody, payments, and tokenization rules to attract global blockchain firms. The SEC received additional industry letters pushing back on preferential treatment for crypto assets. Markets, Security & Payments 21Shares launched two new U.S. crypto index ETFs, and Upexi priced a $23 million private offering as tokenized treasuries gained traction. A San Francisco crypto robbery involving $11 million reignited concerns over personal security. Klarna enabled stablecoin payments via Stripe, while Cash Cloud secured a major arbitration award post-bankruptcy. WazirX launched a zero-fee trading platform to compete for retail users. Read the full RWA Weekly edition here.
Crypto hacks in 2024 resulted in nearly $2.2 billion stolen, up 21.07% YOY, with the number of incidents increasing from 282 to 303. The largest annual incidents included the loss of $305 million from Japanese exchange DMM Bitcoin; $234.9 million from Indian exchange WazirX; $51 million from Radiant Capital; $62.5 million from Munchables; $27 million from Penpie; $20 million from UwU Lend; and $20 million and $43 million from Sonne Finance and BingX. theblock.co/post/331626/cr…
WuBlockchain Weekly: Ethereum Spot ETF to Begin Trading Next Tuesday, Trump Urges Fed to Avoid Rate Cuts Before Election, Indian Crypto Exchange WazirX Hacked for Over $230 Million, etc wublock.substack.com/p/wublockchain…
North Korean hackers likely behind $235 million WazirX exploit: Elliptic theblock.co/post/306106/no…
This bounty has been solved by ZachXBT @ZachXBT submitted definitive evidence of a KYC-linked deposit address used by the exploiter to receive funds from the WazirX exploit. This fulfills one of the criteria of the bounty - ‘Identifying a KYC centralized exchange deposit’. This… twitter.com/ArkhamIntel/st… Quote [@ArkhamIntel](https://www.twitter.com/ArkhamIntel/status/1813874415970492627) > New Intel Exchange Bounty: $235M WazirX Hack > > This morning, WazirX experienced a security breach in one of their holding wallets. The incident resulted in over $235 million in funds lost. > > Addresses associated with the hacker include: > > 0x6EeDF92Fb92Dd68a270c3205e96DCCc527728066…
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