X-Industry

On 26 June, Evolve Bank and Trust, a financial institution that’s popular with fintech startups, announced that it had been victim of a cyberattack and data breach that could have affected its partner companies as well.  The incident, according to the company’s statement, involved “the data and personal information of some Evolve retail bank customers and financial technology partners’ customers.”

Evolve’s communications chief Thomas Holmes said that the incident involves “a known cybercriminal

Cybercriminals have started taking advantage of Silicon Valley Bank’s (SVB) downfall to carrying out scams that can steal money and bank account information or infect customers’ systems with malware.  SVB was shut down on 10 March 2023 by the California Department of Financial Protection and Innovation and the Feds after the bank failed to raise capital to keep running.[1]

See:  https://redskyalliance.org/xindustry/svb-bank-run-not-good

SVB customers are expected to transfer their financial oper

Remember the joke line, “We are from the government and we are here to help you?”  The recent news from the White House is an indication of more regulation, disclosures, reporting to tax agencies, and taxes are ahead for cryptocurrency users.

President Joe Biden announced a new approach to oversight of cryptocurrencies to support innovation and protect consumers.  The White House has unveiled a new executive order for the nation's plan to establish a framework to both develop opportunities and m

A US republican senator will soon introduce a bill that, for the first time, attempts to regulate the cryptocurrency space. The bill would reportedly add investor protections, rein in Stablecoins,[1] which are pegged to a stated currency, and create a self-regulatory body under the jurisdiction of the US Securities and Exchange Commission and its sister agency, the Commodity Futures Trading Commission.

The proposal stems from a Wyoming senator who is a longtime crypto-evangelist and one of two U