#crypto

A tale of trust turned treachery: an American senior ventured into cryptocurrency investments guided by an online acquaintance from Instagram, resulting in a staggering loss of $240,000. Though wary of funneling substantial amounts into a dubious site at first, his initial crypto futures successes led him to up his investments. The insistence from his online friend to boost his deposit only fueled his decisions.

Decentralized crypto exchange PancakeSwap intends to open source its code. This will allow external developers to either fork the code or use it to develop new applications on various blockchains, exclusively through a specialized affiliate program.

Ulrich Bindseil, Director General of Market Infrastructure and Payments at the European Central Bank, along with his advisor Jürgen Schaaf, have openly expressed their disappointment with Bitcoin ETFs and the influx of capital into the crypto sector after the SEC's landmark decision.

Ladan Stewart, the leader of the SEC's crypto unit, has transitioned from the agency to join the law firm White & Case, Bloomberg reports. In her new role, she will spearhead the development of crypto and cybersecurity practices.

The US Internal Revenue Service (IRS) has brought on board two former cryptocurrency company employees as consultants to aid in crafting the definitive tax regulations for digital assets. This move will impact all crypto businesses, including exchanges and brokers, requiring them to report all transactions per client.

Australian crypto exchange OTCPro mistakenly sent $653,000 instead of the intended $65,300 to a corporate account belonging to Kow Seng Chai. Mr. Chai quickly withdrew the funds using the Tether (USDT) stablecoin. When the mistake was discovered, attempts to contact him were ignored, and the phone number provided turned out to be incorrect.

Uniswap, a decentralized cryptocurrency exchange, has recently launched a unique feature: free Web3 names for all its users. These aren't just any names; think "one.uni.eth" or "crypto.uni.eth" – a fresh take on the traditional crypto wallet format. Nicknames can be acquired and customized exclusively through the Uniswap mobile app.

Backpack, a new cryptocurrency exchange, has officially launched operations in 11 U.S. states, including California, Colorado, and Indiana.