CertiK Unveils Security Dashboard: Tracking Billions in Crypto Losses as Threats Escalate

GnosisDAO has formally approved the transition of Gnosis Chain from a standalone layer-1 network to a ZK-proven Ethereum Economic Zone (EEZ) rollup, a historic decision that reshapes the future of blockchain infrastructure. With 123,158 GNO votes in favor, proposal GIP-153 surpassed the required quorum of 75,000 GNO, indicating strong consensus among governance token holders.

This strategic shift will enable Gnosis Chain to settle transactions directly on Ethereum, retiring its independent validator set and transforming into a layer-2 solution. The transition represents a significant move toward interoperability and scalability within the Ethereum ecosystem, strengthening Gnosis's position as an integral part of the DeFi and Web3 infrastructure.

BitGo Korea has successfully secured Virtual Asset Service Provider (VASP) registration from the Korea Financial Intelligence Unit, establishing a regulatory foundation to offer digital asset custody services to institutions. The approval came just two days before stricter VASP entry requirements took effect, positioning BitGo strategically in the South Korean cryptocurrency market.

The company established its local entity rather than acquiring an existing registered provider, building security, anti-money laundering, internal control, and operational frameworks tailored to South Korean requirements. This achievement not only strengthens BitGo's presence in the Asian market but also sends a clear signal about regulatory compliance in the cryptocurrency sector, highlighting the importance of security and compliance for institutional and enterprise clients seeking digital asset custody solutions.

SoftBank's investment strategy reveals a stunning 67% concentration of its US stock portfolio in Intel, with zero share purchases last quarter. This high-risk approach, led by Masayoshi Son, exposes the company to significant market volatility in both crypto and traditional stock markets. The decision to maintain such a concentrated position in a single stock, particularly in a volatile tech sector like semiconductors, raises questions about SoftBank's risk management. Investors are closely watching potential impacts on crypto asset strategy and overall market exposure, as any price movement of Intel could have disproportionate consequences for SoftBank's portfolio.

Evernorth analysis reveals XRP concentrates an impressive 23.5% of its on-chain trading volume within just three hours during the overlapping London and New York business hours, marking a significant increase from the 14.3% recorded a year earlier. This "rush hour" trading pattern represents a notable shift in cryptocurrency market behavior, indicating growing coordination among international traders and concentrated liquidity during specific timeframes. The discovery, shared on August 18 by XRP treasury company Evernorth, suggests XRP is developing a distinct market cycle that could influence trading strategies and timing for crypto investors worldwide.

Former U.S. President Donald Trump has made a historic call to Congress to enhance cryptocurrency legitimacy through new legislation, a move that could fundamentally reshape America's financial systems and send ripples through global markets. This unexpected political pivot signals a potential shift in traditional approaches to digital assets.

Trump's legislative push could accelerate institutional adoption of cryptocurrencies, attract significant capital inflows, and set a precedent for regulatory frameworks worldwide. With the crypto market valued in the billions, this potential legislation would bring much-needed legal clarity, potentially fueling financial innovation across the United States and creating new opportunities for blockchain technology to flourish under defined regulatory boundaries.