OMG NEWS OF THE DAY

Canadian Crypto Exchange Catalyx Hit by Security Breach

Canadian crypto exchange Catalyx is facing a crisis after halting withdrawals and trading due to a suspected security breach, possibly involving an employee. The exchange has yet to disclose the extent of losses resulting from the breach. Investigations are underway, with consulting firm Deloitte assisting Catalyx in understanding and addressing the incident. The Alberta Securities Commission’s recent order to cease trading and investigate adds complexity to the situation.

Federal Judge Rules in SEC’s Favor Against Terraform Labs

In a significant win for the Securities and Exchange Commission (SEC), a federal judge ruled that Terraform Labs and its founder, Do Kwon, offered and sold unregistered securities in the form of cryptocurrencies, including LUNA and UST. The SEC’s case will now focus on securities fraud charges, specifically whether Kwon misled customers about the security of Terraform’s financial products. The trial, scheduled for January 29, will be a critical moment in Kwon’s legal battles.

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The U.S. District Court in the Southern District of New York has issued a ruling against Do Kwon and Terraform Labs. Source: CoinTelegraph

PancakeSwap’s CAKE Token Supply Reduction Approved

The PancakeSwap community has approved a proposal to reduce the maximum supply of its native CAKE token from 750 million to 450 million. Nearly 98% of votes favored the move, signaling a strategic shift toward a more deflationary model. PancakeSwap aims to achieve “ultrasound CAKE” and enhance the efficiency of its token model. The reduced supply figures are expected to be reflected on major platforms by January 4, showcasing the community’s support for PancakeSwap’s evolving tokenomics.

OKX Delists Privacy Tokens, Wins Web 3.0 Innovation Award

OKX, the second-largest offshore exchange, announced the delisting and suspension of several privacy tokens, including FSN, ZKS, CAPO, CVP, XMR, DASH, ZEC, and ZEN, effective December 27. This proactive move aligns with OKX’s commitment to maintaining high standards and optimizing its offerings. The exchange’s strategic approach reflects its ongoing efforts to provide users with a secure and efficient trading experience.

TWEETS OF THE DAY

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