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RoboFi News Review: Top Crypto News of the Week

This week’s news roundup is presented below.

Crypto firm Prime Blockchain, 10X SPAC end $1.25 billion merger deal

Auto with no mileage restrictions On Monday, 10X Capital Venture Acquisition Corp II (VCXA.O) announced that it and Prime Blockchain, a cryptocurrency mining and infrastructure firm, had amicably terminated their $1.25 billion merger agreement. The end of the deal highlights the waning interest in special purpose acquisition companies (SPACs), which were popular with startups that wanted to avoid a regular IPO.

Losses from crypto hacks surged 60% to $1.9 billion from January to July, Chainalysis says

According to a blog post published by blockchain analysis firm Chainalysis, losses from cryptocurrency attacks increased by over 60% to $1.9 billion in the first seven months of 2018, driven by an increase in funds stolen from decentralized finance (DeFi) protocols. The amount of money lost due to hacking in the same time period last year was $1.2 billion.

ECB steps in as banks dip toes in crypto pool

To ensure that banks in a market that some European Union legislators have called the Wild West have sufficient capital and expertise, the European Central Bank (ECB) said that it would regulate the way in which banks provide crypto assets. Binance and Crypto.com are only two examples of the many cryptocurrency exchanges that have received authorization in EU nations including Italy, France, Spain, Greece, or Germany by meeting state protections against money laundering and terrorism funding.

Stablecoin Tether hires BDO Italia for monthly proof-of-reserve reports

The largest stablecoin in the world, Tether, said that it had hired BDO Italia as an independent auditor to vouch for its asset reserves and that it plans to publish its reports monthly rather than quarterly by the end of the year. Stablecoins are a special kind of cryptocurrency with a fixed value, usually based on a fiat currency like the U.S. dollar. Coin exchanges facilitate the transfer of cryptocurrency and the conversion of digital currency into fiat currency.

Crypto investors’ class settlement with Block.one killed by N.Y. judge

Cryptocurrency investors settling securities class actions are an extreme outlier. In general, crypto token issuers crafted their offerings to sidestep private investors’ ability to enforce U.S. securities laws.

About RoboFi

RoboFi (https://robofi.io/home/) is a Defi platform that envisions a marketplace for revolutionary Dao crypto trading bots. Through its IBO (Initial Bot Offering) system, community members can maximize their earnings in an easy, simple, and secure way. We create a safe and transparent environment based on blockchain technologies that help developers bring crypto trading bot platforms to the market. In addition, individuals will have easy access to these bot applications, thereby generating more earning opportunities. RoboFi ecosystem is fueled by the VICS token.

About VICS

VICS token has a distinctive and enticing concept. VICS is the BEP-20 token, built on the Binance smart chain. It is a core utility token in the RoboFi ecosystem, the reliable crypto trading bot marketplace. One important utility is to own the governance token of DABots and participate in an IBO (Initial Bot Offering) to receive additional incentives. VICS is available on major exchanges for trading.

Official Link

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