Episode Details

03rd June: Crypto & Coffee at 8
🟠 DMM Bitcoin — $305 million hack 🔵Biden Vetoes SAB 121 ❗ Google and Magic Leap — Metaverse 🕶️Estonia — Mining Fraud 

🟠 DMM Bitcoin, a Japanese crypto exchange, was hacked, losing 4,502.9 BTC ($305 million). The hacker split the stolen BTC into 10 wallets. DMM Bitcoin has taken measures to prevent further theft and promised to reimburse the full amount. All spot buys are temporarily restricted, and yen withdrawals may be delayed. This hack is the second-largest in Japan, following the 2018 Coincheck hack. Info via CoinDesk https://lnkd.in/d77w2JDi 

❗ How will it impact the regulatory landscape for cryptocurrency exchanges in Japan and globally?

🔵 SAB 121
- Biden has vetoed H.J.Res. 109, a resolution that aimed to disapprove the SEC’s Staff Accounting Bulletin №121 (SAB 121). SAB 121 outlines the accounting obligations for firms safeguarding crypto-assets. The President stated that the resolution would improperly limit the SEC’s ability to establish necessary regulations and address future issues, which could undermine consumer and investor protection. Biden emphasized the importance of appropriate regulations for the responsible development of digital assets and expressed a desire to work with Congress on a balanced regulatory framework for digital assets. Info via The White House here https://lnkd.in/d2FHEMsB

🎙️ Check out Blockchain DXB podcast we explain the impact this has on the Crypto Industry. 

👀 Magic Leap and Google have announced a strategic partnership to advance XR (Extended Reality) technologies. This collaboration will combine Magic Leap’s expertise in augmented reality (AR) optics and manufacturing with Google’s technology platforms to develop new AR solutions and experiences. Key figures from both companies expressed enthusiasm about fostering the XR ecosystem and delivering innovative products. This partnership builds on a long-standing relationship between the two companies. via Cointelegraph here https://lnkd.in/dkHv6W-Q

🔴 Two Estonian nationals, Sergei Potapenko and Ivan Turõgin, have made their first court appearance after being arrested for their alleged involvement in a cryptocurrency fraud scheme. The Department of Justice claims that the defendants operated a fraudulent cryptocurrency mining service, HashFlare, and lured victims to purchase contracts worth over $550 million. The pair is also accused of raising $25 million through investments in a virtual currency bank that was never established. Info via Decrypt here https://lnkd.in/dQ8QWGcD

🟠 Two UAE news (See slides)
⚡ Klickl Obtains Financial Services Permission in Abu Dhabi to Enhance Web3 Offerings for SMEs
⚡ Saudi Arabia’s 

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