Episode 525
📍 Gotbit founder Aleksei Andriunin has been extradited to the US to face fraud charges related to market manipulation services provided to crypto companies.
📍 Bybit has released a forensics report revealing that the recent $1.4 billion hack was caused by a compromise of SAFE's servers, not Bybit's, with hackers targeting Bybit's cold wallet.
📍 Bitcoin and Ethereum have fallen to their lowest prices in months, with liquidations topping $600 million, amid inflation fears, concerns over tariffs, and the aftermath of the Bybit hack.
📍 The US House Committee has advanced a resolution to erase the IRS' DeFi tax rule, which the crypto industry argues would hinder decentralized finance, with the resolution now moving to the overall House for consideration.
📍 The proposed elimination of the tax rule could cut US revenue by an estimated $3.9 billion over a decade, with the crypto industry and lawmakers arguing that the rule is unfair and unworkable.
