Latest news with #CeFi
Business Insider
05-08-2025
- Business
- Business Insider
CryptoEdu Report Exposes 2025 CeFi Gaps in Trust and Transparency
CryptoEdu by Drofa Comms, an educational initiative designed to enhance digital asset literacy and support businesses in the crypto space, publishes a new analytical report: 'Why Crypto Exchanges Still Fail Retail and Institutions Standards in 2025.' The report reveals the main systemic problems of centralised crypto exchanges (CeFi) in 2025. Despite CeFi's key role in digital asset trading, these platforms continue to face challenges that hinder the trust of both retail and institutional investors. The paper dissects how platforms like OKX, KuCoin, Binance, and Bybit continue to lack core safeguards: from opaque token listings and governance theater to arbitration clauses that strip retail users of legal recourse. Among the key findings: No Real-Time Risk Monitoring: In the case of the OM token crash, OKX issued alerts only after significant retail losses, raising concerns about the timeliness of risk disclosures. Conflicted Exchange Roles: KuCoin's involvement in the promotion, listing, and sale of its own PUMP token, highlights a potential lack of separation between platform operations and token issuances. Retail Dispute Resolution Constraints: Legal agreements on some platforms, including OKX and Binance, are limiting retail users' legal options through arbitration clauses and class action waivers. Informal Compensation Practices: Bybit's public pledge to reimburse users after a security incident shows that it lacked a formalized claims process or clearly defined user protections. No Cross-Exchange Standards: The industry still lacks a unified framework for listings, surveillance, post-incident response, and dispute resolution. Governance Transparency Challenges: In the wake of recent market events, some platforms, including OKX, have undertaken internal restructuring. However, these actions have not yet translated into updated listing policies or expanded user protections. The report also outlines actionable reforms: enforceable listing criteria, standardized crisis response, structural user protections, and independent oversight mechanisms. CryptoEdu continues its mission to develop digital literacy and support conscientious participants in the crypto market, raising standards and trust in a rapidly developing industry. The full report is available via the link: About CryptoEdu and Drofa Comms CryptoEdu by Drofa Comms is an educational initiative designed to enhance digital asset literacy and support businesses in the crypto space. Drofa Comms is a global PR consulting agency proudly representing the leading finance and fintech firms. Since 2011, it has brought founders and their ventures into the worldwide spotlight, meticulously crafting compelling brand identities and seamlessly communicating them to diverse audiences. With an HQ in London, UK, Drofa Comms boasts a portfolio of high-profile clients in the finance and fintech sectors. Its major clients include commercial and investment banks, AMCs and AIFs, trading platforms, exchanges, payment solutions, and blockchain companies.
Yahoo
25-07-2025
- Business
- Yahoo
Multisig Failures Dominate as $3.1B Is Lost in Web3 Hacks in the First Half
Crypto investors lost around $3.1 billion to hacks in the first half of the year, with the first quarter alone topping all the losses of 2024, according to a report from security firm Hacken. The most intriguing finding was that multisignature wallets, which require several people to sign a transaction before it is executed were frequently compromised due to user interface tampering and signer mismanagement. The infamous first-quarter hack of centralized exchange Bybit resulted in a $1.46 billion breach when a compromised safe‑wallet interface tricked authorized signers. It was the third quarter in a row in which the single largest hack originated from multisig lapses. The first half also saw $300 million in rug pulls. Phishing and social engineering campaigns also contributed heavily, chalking up nearly $100 million. Smart contract vulnerabilities were negligible, accounting for less than 2% of total losses. Smart contract bugs, for example the $223M Cetus overflow, attributed to the majority of attacks in the second quarter of 2025. Access-control issues remain the dominant theme, responsible for over 80% of every stolen dollar this year. Hacken urged a shift from reactive auditing to real-time operational defenses. Its report recommends the use of of AI-powered monitoring systems that continuously validate multisig transactions, detect deviations in signer activity and trigger automated safeguards. It also recommends that both CeFi and DeFi projects treat signer protocols, multisig front-ends, and human workflows as security-critical infrastructure, bolstering them with automation, training and tighter governance.
Business Insider
02-07-2025
- Business
- Business Insider
HTX DAO Showcases Compliance and Decentralized Governance Vision at Istanbul Blockchain Week
HTX DAO, an ecosystem partner of HTX, a global leading cryptocurrency exchange, made a high-profile appearance with a prime show booth from June 26 to 27 at Istanbul Blockchain Week 2025, Turkey's most influential Web3 event. This marked a major stride in HTX DAO's global expansion strategy, highlighting its forward-looking initiatives in decentralized governance, ecosystem growth, and compliance-first innovation. HTX on the Global Stage: Embracing the Stablecoin Surge and Web3 Integration During the event, Justin Sun, Advisor to HTX and Founder of TRON, and Serdar Serdengecti, Listing Director of HTX, delivered key insights into the shifting dynamics of the digital asset landscape. Justin Sun emphasized that the industry is entering a transformative phase, accelerated by regulatory openness and institutional adoption. He pointed to the surging stablecoin momentum as a pivotal opportunity for the crypto ecosystem to demonstrate real-world utility. In particular, Sun highlighted Turkey's proactive embrace of stablecoins such as USDT on TRON, showcasing how digital assets can drive economic empowerment and financial freedom at scale. "This is just the beginning. The real work is still ahead of us," said Sun. "I encourage all of you to keep building and keep pushing. I look forward to seeing the progress we will make together in the remaining half of 2025." At the roundtable, "From Trading Platforms to Financial Superapps: Are Crypto Exchanges Becoming the Everything App for Digital Finance?", Serdar Serdengecti shared insights on the global regulatory landscape and convergence in Web3. Serdar reiterated HTX's commitment to compliance as a cornerstone of its global strategy, stating that HTX actively engages regulators, respects jurisdictional frameworks, and designs for long-term trust. He outlined how HTX's listing process is rooted in user value, supported by research from HTX Ventures, the scalability and interoperability of TRON, and the decentralized governance of HTX DAO. The platform is collectively forming a robust path for sustainable project incubation, fostering a resilient and scalable ecosystem. Looking ahead, Serdar described the next phase of Web3 as the "Era of Integration", where infrastructure, user experience, regulation, and value creation will increasingly converge. "The lines between CeFi and DeFi, DAOs and TradFi, will continue to blur. Centralized platforms and decentralized protocols will accelerate collaboration, and regulatory frameworks for stablecoins and tokenized real-world assets will gradually take shape. Therefore, the industry's next phase will not be solely about innovation, but about who can earn trust, integrate ecosystem resources effectively, and scale sustainably." HTX DAO's Space Capsule Booth Draws Crowds in Istanbul HTX DAO's space capsule-themed booth became a major attraction on the exhibition floor. The installation served not only as a visual showcase of HTX DAO's visions but also as a touchpoint for real-time engagement with global builders and local enthusiasts. HTX DAO team members were on-site to guide attendees through the platform's latest progress in governance tools, ecosystem expansion, and user engagement. Strategically positioned at the crossroads of Asia and Europe, Istanbul has become a vital hub for Middle Eastern and European crypto innovation. HTX DAO's participation at IBW reaffirmed its ongoing commitment to a "decentralized governance and global collaboration" framework and reinforces HTX's broader mission to bridge regional ecosystems with global infrastructure. As Serdar noted, "Turkey's Web3 community is maturing from the ground up, fast-moving, community-rich, and deeply responsive to both global innovation and local needs. Any project that can thrive here proves its adaptability on a global scale. HTX is proud to partner with local builders and communities to advance a more open, transparent, and inclusive digital future." About HTX DAO As a multi-chain deployed decentralized autonomous organization (DAO), HTX DAO demonstrates an innovative governance approach. Unlike traditional corporate structures, it adopts a decentralized governance structure composed of a diversified group, jointly committed to the success of this organization. This unique ecosystem advocates openness and encourages all DAO participants to propose ideas that can promote the development of HTX DAO. Damon
Yahoo
17-06-2025
- Business
- Yahoo
Call unlimited for $47.45 a month — Trump Mobile is here
Call unlimited for $47.45 a month — Trump Mobile is here originally appeared on TheStreet. The Trump Organization announced the launch of a $499 smartphone and a $47.45 monthly plan on June 16. Eric Trump, President Donald Trump's son and executive vice president at the Trump Organization, appeared on FOX Business Network's "Mornings with Maria" show to talk about the launch. He said the latest launch is part of the strategy to use technology to "correct the problems," the way they launched their crypto projects to "correct" the problem of the debanking of "conservatives," and Truth Social was launched to "correct" freedom of speech that he lost. Note that Twitter had permanently suspended the accounts of Donald Trump on Jan. 8, 2021, and it wasn't until Elon Musk took over the platform in November 2022 that Trump could make a comeback. However, the Trump Media & Technology Group had launched the Truth Social app on Feb. 21, 2021, on which the president now frequently posts messages. Eric Trump said that Trump Mobile is going to "revolutionize" cell phones and calling with more functionalities and features. Everything will happen in the U.S., and nobody will be calling call centers in Bangladesh, Eric said. Beginning September, Trump Mobile will sell the T1 phone for $499 and a wireless service to let users make calls, send messages and use data — all unlimited for $47.45 a month. Trump's election campaign slogan 'Make America Great Again' is displayed prominently on the T1 mobile phone. In a June 13 filing, Trump reported earning approximately $600 million in revenue last year, of which the sale of branded items, such as fragrances, sneakers, watches, etc., raked in millions of dollars. The president's son also highlighted the importance of centralized finance (CeFi) and decentralized finance (DeFi) components of the crypto industry that are going to be crucial in the future. However, the Trump family's engagement with multiple crypto ventures such as meme coins, the USD1 stablecoin, Bitcoin mining, and crypto exchange-traded funds (ETFs) has raised questions regarding alleged conflicts of interest. Call unlimited for $47.45 a month — Trump Mobile is here first appeared on TheStreet on Jun 16, 2025 This story was originally reported by TheStreet on Jun 16, 2025, where it first appeared. Sign in to access your portfolio
Int'l Business Times
09-06-2025
- Business
- Int'l Business Times
Founders of LayerZero, SEI, Selini Capital, and Plume back hyper-personalized AI crypto discovery engine
Chainwire Singapore, Singapore, June 9th, 2025, Chainwire TrueNorth, led by a former chief of hybrid CeFi/DeFi exchange WOO and AI experts, raises a strategic angel round to pioneer the agentic economy. The founders of LayerZero, SEI, Selini Capital, Virtuals, Plume, and Presto Labs have collectively backed an AI platform that uses autonomous agents and real-time data to uncover crypto opportunities. AI-focused firm TrueNorth, co-founded by former WOO COO Willy Chuang and ex-Temasek AI tech investor Alex Lee, has raised $1 million in funding to develop Crypto's first AI-powered engine. An engine symbiotic to the users' discovery journey from intent straight to the outcome. TrueNorth's agentic technology continuously scans across chains, socials, and macro and project data to surface timely, high-signal insights for every user personalized to their portfolio, trading style, and past behavior. 'We see true AI agents becoming the foundation for how people invest in crypto for the future,' said Willy Chuang and Alex Lee, co-founders of TrueNorth. 'The market is only getting more complex, and our goal is to cut through the noise with a hyper-personalized engine powered by a generative user interface (known as Gen UI) that adapts to each user's style and behavior in real-time. We're building a system where the agnetic flow and expert distilled reinforcement learning models work quietly in the background, driving the user's intent infinitely closer to the outcome. Willy Chuang, who previously led operations at the CeFi/DeFi exchange WOO, emphasized the real-world need for tools that reduce cognitive overload in fast-moving markets. "Having led crypto exchanges and worked closely with a broad range of traders and investors, I've seen how fragmented data and constant noise creates friction in decision-making,' said Chuang. 'TrueNorth is built to simplify this, delivering personalized insights that evolve with each user so they can move faster with more confidence.' For his part, Alex Lee, a PhD in AI, highlighted the platform's AI-driven approach and ongoing development phase. 'AI has reached a point where it can do more than just process data; it can understand context, adapt to users, and continuously improve decision-making,' said Lee. 'That's the foundation we're building on: agentic intelligence that works behind the scenes to surface what matters most. We're currently in closed beta, working closely with early users to refine a system that feels intuitive but is powered by serious intelligence.' TrueNorth's backers, Bryan Pellegrino of LayerZero, Jeff Feng of SEI, Jordi Alexander of Selini Capital, and Yongjin of Presto Labs, as well as Will Wang of Generative Ventures, share a strong belief in AI's transformative power in crypto trading. Their interests span key themes such as interoperability, data-driven AI models, algorithmic market strategies, and innovative infrastructure development. Together, these interests reflect not only a shared belief in AI's potential but also the same principles driving TrueNorth's mission to simplify and personalize decision-making in decentralized markets. TrueNorth, a platform under Singapore-registered Advent AI, is working closely with its first 500 early users, the Truthsayers, to refine agentic workflows for AI-native investing in closed beta. In the coming weeks, the team will unveil key details of its advanced architecture and agentic frameworks as it gears up for a public launch aimed at delivering smarter, hyper-personalized crypto discovery tools to a wider audience. To learn more about TrueNorth, users can visit Contact: media@ About TrueNorth TrueNorth is the crypto industry's first autonomous, AI-powered discovery engine, designed to be symbiotic with the user journey, bringing intent straight to an outcome. Combining on-chain, social, and macro data, TrueNorth uses advanced agentic infrastructure to deliver real-time, tailored insights that evolve with each user's investment journey. Founded by DeFi/CeFi and AI experts, TrueNorth aims to democratize decentralized finance by making complex crypto information accessible and actionable for investors at all levels. TrueNorth is part of Delphi Labs' dAGI accelerator, a protocol R&D lab focused on incubating and accelerating new Web3 primitives. Contact PR team media@ © Copyright Chainwire. All rights reserved.
