The Financial Accounting Standards Board (FASB) has released a new Accounting Standards Update (ASU) aimed at improving the accounting and disclosure of specific crypto assets. This update is in response to feedback from stakeholders who have emphasized the need for better accounting practices in the crypto asset space.The ASU covers all assets defined as intangible […]
In a major security breach, hackers have targeted Ledger’s connector library, compromising numerous decentralized applications (dApps) that rely on Ledger’s technology. This breach has put Ledger wallet users at risk of theft and has exposed severe vulnerabilities in Ledger’s systems.The attack involved hackers replacing Ledger’s connector library with a corrupted version, allowing them to hijack […]
In a recent security breach, unknown attackers targeted Ledger, a popular hardware wallet provider, with the aim of exploiting their LedgerConnect kit. The attack involved injecting a “wallet-draining payload” into the NPM package, which allowed the attackers to hijack the front end of multiple apps and steal hundreds of thousands of dollars worth of assets. […]
LGT has successfully completed the acquisition of Abrdn’s discretionary fund management business in the UK and Jersey. This £140m deal, which was initially announced in February, has allowed LGT Wealth Management, the UK-based wealth arm of LGT, to take on Abrdn Capital’s 4,000 clients and 140 employees. As a result, LGT WM’s total assets have […]
The finance empire of Liechtenstein’s Prince Hans-Adam II, which has been in existence for almost 1,000 years, is thriving. LGT Group, the royal family’s private banking and asset-management firm, reported record assets under management of almost 306 billion Swiss francs ($334 billion) as of June 30, 2022. The firm has been expanding rapidly, recently acquiring […]
The upcoming United Nations Climate Change Conference, COP28, in Dubai is set to address the goals of the Paris Agreement and accelerate progress towards achieving them. Christopher Greenwald, Head of Sustainable Investing at LGT, a global private bank based in Liechtenstein, believes that discussions at the conference will emphasize the need for sustainability and inclusivity […]
Lolli, a popular Bitcoin rewards application, has successfully raised $8 million in a Series B funding round, according to a report by TechCrunch. The investment, led by BITKRAFT Ventures, will allow Lolli to expand its rewards program to enterprise partners such as exchanges, neobanks, banks, payment companies, and browsers.Since its launch in 2018, Lolli has […]
The token of decentralized finance protocol SafeMoon (SFM) experienced a significant drop of 31% in just five hours following the company’s bankruptcy filing. SafeMoon filed for Chapter 7 bankruptcy protection, with the voluntary petition being submitted to the United States Bankruptcy Court in the District of Utah. The firm’s chief restructuring officer allegedly wrote a […]
The Financial Accounting Standards Board (FASB) has released a new Accounting Standards Update (ASU) aimed at improving the accounting and disclosure of specific crypto assets. This update comes in response to feedback from stakeholders who have emphasized the need for better accounting practices in the crypto asset space.The ASU covers all assets defined as intangible […]
A security engineer named Shakeeb Ahmed has pleaded guilty to carrying out two DeFi hacks on the Solana blockchain, resulting in the theft of over $12 million. The first attack occurred in July 2022, when Ahmed targeted an unnamed decentralized exchange and generated $9 million through inflated fees. He agreed to return all but $1.5 […]
