Top Crypto News Of The Day Curated by CoinChapter.com Dubai Customs Introduces Blockchain Platform
Dubai Customs has launched a new blockchain platform to streamline supply chain operations within Dubai and across its borders. The initiative, announced on July 8, is part of Dubai’s broader strategy to cement its position as a leading smart city.
Source: X
The blockchain solution aims to expedite customs clearance and commercial transactions by simplifying procedures and reducing time and effort. It will also enhance supply chain transparency through secure data sharing and paperwork reduction.
Crypto News: Solana ETF Decision Expected Mid-March
The U.S. Securities and Exchange Commission (SEC) is anticipated to make a final decision on spot Solana exchange-traded funds (ETFs) around mid-March 2025. The Chicago Board Options Exchange (CBOE) has submitted applications on July 8 to list proposed ETFs from VanEck and 21Shares.
Source: X
CBOE submitted two Form 19b-4 applications, drawing parallels between Solana funds and the recently approved spot Bitcoin and Ether ETFs. The exchange argued that Solana’s decentralization, throughput, and speed make it resistant to manipulation similar to Bitcoin and Ethereum.
You Might Also Like: Solana ETF Launch Depends Heavily on the Election Outcome: VanEck Advisor
Doja Cat’s Twitter Account Compromised
Popular American artist Doja Cat’s Twitter account was hacked and used to promote a Solana-based meme coin. The hack began on July 8, with the hacker posting over two dozen posts and removing Doja Cat’s profile picture and bio from her account. Her hacked Twitter account has 5.6 million followers.
The singer quickly informed her 24 million Instagram followers that she was not responsible for the posts. Blockchain data and market information indicate that the new $DOJA token has seen some activity following this incidents. Fewer than 15,000 transactions generated about $2.2 million in volume.
Crypto News: BlackRock’s BUIDL Reaches $500M
The BlackRock USD Institutional Digital Liquidity Fund (BUIDL) has achieved a market cap of $500 million. Now, it has become the first tokenized treasury fund to reach this milestone. Launched less than four months ago, BUIDL currently holds $502.8 million worth of tokenized Treasury.
BUIDL’s price is pegged 1:1 with the U.S. dollar and distributes daily accrued dividends to investors monthly through its partnership with Securitize. Ondo’s OUSG is the largest BUIDL holder at $173.7 million. Additionally, stablecoin issuer Mountain Protocol also uses BUIDL to back its permissionless yield-bearing stablecoin, USDM.
Crypto Exploits Near $1.4B in 2024
According to a cybersecurity firm Cyvers, the total volume of stolen crypto funds in 2024 is approaching $1.4 billion, with centralized exchanges becoming the new focal point for exploits. In Q2 2024, total crypto losses exceeded $600 million, marking a 100% increase compared to the same period in 2023. This was primarily driven by a 900% increase in losses on centralized exchanges.
Source: Cyvers
Access control breaches accounted for the majority of stolen funds, around $490 million in Q2 alone. This figure far exceeds losses from smart contract exploits, which saw less than $70 million drained during the same period. The report also highlighted cross-chain bridges as an emerging attack vector, citing the $1.44 million exploit of XBridge in April.
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