News Explorer — Multichain Protocol Shuts Down as CEO’s Arrest and Lack of Funds Lead to Operational Issues

AD

Multichain Protocol Shuts Down as CEO’s Arrest and Lack of Funds Lead to Operational Issues

The Multichain MULTI bridge protocol has ceased operations due to a lack of funds and the arrest of its CEO, Zhaojun, by Chinese police. Users had reported stuck transfers and rumors circulated about the arrest of Multichain executives. The protocol confirmed that Zhaojun was missing and had sole access to the servers causing delays. The team later discovered that Zhaojun’s family accessed customer assets and transferred them into wallets under their control.

Source Article

Latest

Jul 14, 3:12 am

Cointelegraph

Indonesia Plans to Launch National Cryptocurrency Exchange, Requiring All Transactions to Take Place on the Platform

The government of Indonesia is set to launch a national cryptocurrency exchange in the coming weeks, according to the co… Read Summary

Source Article

Jul 14, 2:53 am

The Block

Bitwise’s Spot Bitcoin ETF Application Has Been Acknowledged by SEC

The SEC has acknowledged Bitwise’s spot bitcoin ETF application, which was amended and refiled on June 28. Bitwise’s Chi… Read Summary

Source Article

Jul 14, 3:47 am

Decrypt

Major Exchanges Reintroduce XRP Trading After Ripple Court Ruling

Major exchanges such as Kraken, Crypto.com, and Bitstamp have reintroduced XRP trading following a court ruling that dec… Read Summary

Source Article

Jul 14, 3:19 am

Decrypt

Former Celsius Network CEO Alex Mashinsky to Be Released on Bail After Being Charged With Fraud

Alex Mashinsky, former CEO of Celsius Network, will be released on bail after being charged with fraud. He has agreed to… Read Summary

Source Article

Jul 14, 3:01 am

wwd.com

Christie’s, Gucci Partner for Auction of 21 NFTs Exploring Generative Art and Fashion

Christie’s and Gucci are collaborating on an auction called Future Frequencies Explorations in Generative Art and Fashio… Read Summary

Source Article

Jul 14, 3:01 am

Decrypt

Multichain Protocol Shuts Down as CEO’s Arrest and Lack of Funds Lead to Operational Issues

The Multichain MULTI bridge protocol has ceased operations due to a lack of funds and the arrest of its CEO, Zhaojun, by… Read Summary

Source Article

Jul 13, 11:56 am

Decrypt

Ethereum Passes $2,000 Amid XRP-Led Market Boom

The recent ruling that XRP should not be considered a security has led to a surge in the broader cryptocurrency market…. Read Summary

Source Article

Jul 13, 11:38 am

Decrypt

Circle CEO Says US Dollar Will Lose Global Dominance Without Stablecoin Legislation

Circle CEO Jeremy Allaire warns that if stablecoins are not protected, the US dollar will lose global dominance. Allaire… Read Summary

Source Article

Jul 13, 11:11 am

Coindesk

Gemini Says It May Relist XRP After Court Ruling

Gemini is considering relisting Ripple’s XRP token after a U.S. federal court ruled that the sale of XRP on exchanges is… Read Summary

Source Article

Jul 13, 11:11 am

Decrypt

Solana, Cardano, Polygon All Surge After XRP Ruling

Following a federal judge’s ruling that XRP is not a security in certain contexts, altcoins like Solana, Polygon, and Ca… Read Summary

Source Article

Jul 13, 10:00 am

Decrypt

CryptoPunk-Themed DJ Seedphrase Signs With WME

Seedphrase, a DJ who’s known for wearing a helmet based on his rare CryptoPunks NFT, has signed with talent agency WME a… Read Summary

Source Article

Jul 13, 9:21 am

Decrypt

Celsius Founder Alex Mashinsky Hit With Seven Criminal Charges

Former CEO of Celsius Network, Alex Mashinsky, has been hit with seven criminal charges by the U.S. Department of Justic… Read Summary

Source Article

Jul 13, 9:18 am

Decrypt

Judge Rules Ripple Sales of XRP Were Not Securities—Except to Institutions

In the ongoing case between Ripple Labs and the SEC, a federal judge has ruled that the XRP token is not automatically c… Read Summary

Source Article

Jul 13, 9:12 am

Decrypt

XRP Surges 29% on Judge’s Ruling in Ripple SEC Case

XRP experienced a significant spike of over 29% in less than an hour after news broke of a favorable ruling by the judge… Read Summary

Source Article