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BitGo, a prominent crypto custodial platform, will transition its Wrapped Bitcoin (WBTC) to a new multi-jurisdictional and multi-institutional custody model. The crypto community has expressed apprehension regarding this decision, particularly due to the involvement of Justin Sun, the founder of the TRON blockchain.

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Binance, the world’s largest crypto exchange by trading volume, announced that its security team has recovered or frozen over $73 million in user funds from external hacks as of July 31 this year.

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Hong Kong-based virtual bank launches crypto exchange-traded fund trading and considers spot trading. On Aug. 7, Mox, a virtual bank subsidiary of Standard Chartered, became the first bank to provide direct trading of spot Bitcoin and Ether ETFs.

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Two new crypto investment trusts, Bittensor and Sui, have been announced by crypto asset management Grayscale Investments.

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While it continues to tighten its grip on crypto-related money laundering and terror financing, the Indian government said it has no immediate plans to regulate the purchase or sale of cryptocurrencies.

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