#cryptocurrency
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South Korean tech giant Naver has partnered with blockchain platform Chiliz to launch its first cryptocurrency wallet—Naver Pay Wallet. According to the company, this new non-custodial wallet could potentially provide over 33 million users with access to digital assets. 
North Carolina authorities recovered nearly $5 million in cryptocurrency that was stolen in the “Pig Butchering” scam. This fraud technique involves gradually "fattening up" the victim, allowing them to earn small amounts initially, which encourages further investments. What Are VC-Backed Tokens: The Role of Large Crypto Investors
Funding has a decisive role in crypto. Projects need capital for development, user experience design, testing, and other purposes. The sale of a native cryptocurrency is a common way to raise funds. In the case of VC-backed tokens, large investors access a portion of the token’s total supply before the public launch. 
According to the Financial Supervisory Service (FSS), the average annual salary for employees and executives at the South Korean cryptocurrency exchange Upbit now exceeds that of employees at the country’s major banks: $99,500 compared to $86,700. This marks a 124% increase over the past year. 
The UK government is set to convince financial firm Revolut, which also offers cryptocurrency services, to conduct its initial public offering (IPO) in London rather than New York. City Minister Tulip Siddiq plans to meet with company representatives this fall to discuss the proposal. 
U.S. Democratic presidential candidate Kamala Harris hired two new advisors linked to the cryptocurrency industry: David Plouffe and Brian Nelson. However, their approaches and views on digital assets, as well as their previous work experiences, differ significantly. 
Blake Benthall asserts that the U.S. government needs to collaborate more closely with cryptocurrency companies to create effective regulations and ensure compliance with the law. He believes that some officials advocate for strict measures due to their misunderstanding of new technologies. 
Since the start of 2023, the Australian financial regulator (ASIC) has closed over 7,300 fraudulent investment websites and schemes, including 615 cryptocurrency projects. Fake investments continue to be a major issue, with Australians losing over $1.3 billion to such scams in the past year. Cryptocurrency Regulations in New Zealand
Cryptocurrency regulation in New Zealand is continuously evolving. Although digital assets are not officially recognized as a form of payment, they are acknowledged as property under tax and financial laws. The nation is actively working towards establishing a clear and secure framework for the digital industry. What is Chain Abstraction?
In computing, "abstraction" generally involves hiding complex technical details from the user experience (UX), making such complexities invisible to users. Chain abstraction follows a similar principle, aiming to simplify the UX in the multi-chain environment of the cryptocurrency industry. Miners Face a Choice Between Cryptocurrency and AI
Despite significant market fluctuations, BTC mining remains profitable. However, the rapid growth of AI is creating a competing demand for computational resources. Bitcoin miners now find themselves at the intersection of two technological revolutions. 
Fred Ehrsam, a co-founder of the cryptocurrency exchange Coinbase, teamed up with Quintin Frerichs to establish a new company called Nudge. This venture is set to develop an ultrasonic headset aimed at enhancing people’s daily lives. It will enable users to boost focus or go to sleep with just the press of a button. 