US DOJ Charges Two Russians With Mt. Gox Hack

In a collaboration between the Dubai-based Human Institute, Hong Kong’s Animoca Brands and Polygon Labs, the launch of Humanity Protocol on Polygon CDK has been confirmed. Palm recognition technologySpearheaded by Hong Kong entrepreneur Terence Kwok and guided by a council of Founding Humans including Yat Siu, Chairman of the board at Animoca Brands, and Sandeep Nailwal, co-founder of Polygon Technology, this protocol pioneers the use of palm recognition technology as a less intrusive alternative to conventional methods like iris scans. Humanity Protocol is attempting to bring about a paradigm shift in user-centric identity verification within Web3 applications. By integrating palm recognition technology into blockchain infrastructure, it offers a streamlined and inclusive experience for users, departing from the often cumbersome and intrusive nature of existing proof-of-personhood technologies.Photo by Brett Jordan on UnsplashNon-invasive ID verificationIn an announcement on Tuesday, Yat Siu emphasized the significance of non-invasive biometrics in fostering a user-centric ecosystem. He underscored the importance of Humanity Protocol’s approach in promoting equity and inclusion while upholding the principles of digital ownership. Echoing these sentiments, Polygon’s Sandeep Nailwal highlighted Humanity Protocol’s pivotal role in enabling a diverse range of blockchain and real-world applications. Taking to the X social media platform, pseudonymous crypto trader and angel investor @Bull1shkid wrote:”Worldcoin has shown that there is a lot of interest in an identity verification mechanism in the crypto space. Humanity is applying this to crypto, making it decentralized and more convenient to use. With Polygon and Animoca on board. Proud to be an early backer!” By contrast, Worldcoin, which depends upon iris scanning, has proven to be far more controversial. The project is being investigated by multiple authorities worldwide, with the most recent probe having been launched in Hong Kong. Leveraging ZK-proofsThe Humanity Protocol leverages ZK-proofs, cryptographic protocols that enable users to prove specific information without revealing the underlying data itself. By amalgamating Sybil resistance with verifiable credentials in a decentralized validator node network, Humanity Protocol paves the way for decentralized social media platforms, enterprise DeFi solutions and beyond. The incorporation of zkEVM Layer-2 blockchain protocol, fortified by ZK proofs, not only enhances network security and efficiency but also grants users complete ownership over their data and identity. Nikita Uriupin, founder of Exverse, highlighted to Cointelegraph the potential of privacy-preserving technologies like ZK-proofs in bolstering the mass adoption of Web3 technologies. He emphasized the confidence instilled by such solutions in an era marred by widespread data breaches. According to data from IT Governance, the year 2023 witnessed 2,814 reported data breaches, compromising over 8.2 billion documents throughout the year. With the imminent launch of the Humanity Protocol Testnet, users will soon have the opportunity to experience the protocol firsthand and begin earning rewards. Positioned as the human layer for Web3, Humanity Protocol aims to onboard the first billion humans onto a Sybil-resistant network of blockchains, marking a significant milestone in the evolution of the decentralized web. By seamlessly integrating cutting-edge palm recognition technology with blockchain infrastructure, the protocol has the potential to set a new standard for user-centric identity verification, promoting equity, inclusion and genuine digital ownership in the Web3 landscape. 

Nod to Gender Diversity as ZORIXchange Appoints Female CEOIn an industry historically dominated by men, Dilys Cheng’s recent appointment as the CEO of Dubai-based ZORIXchange’s digital assets platform marks a progressive step in achieving gender diversity in the cryptocurrency space.The Middle Eastern crypto exchange business announced the appointment via a press release which was published on Monday.Photo by JÉSHOOTS on PexelsBanking backgroundThe firm articulated that Cheng, who hails from Nantou in Taiwan, gained experience in the banking world, igniting a fervent passion for streamlining financial ecosystems. Her eagerness to simplify these processes dovetailed with the potential of blockchain technology, propelling her on a mission of transformation.Leveraging her extensive background in finance, Cheng has merged her expertise in fiat exchanges with the emerging capabilities of blockchain technology. Her tenure as the former Director of Asia Blockchain Accelerator showcased her acumen, propelling startups toward global expansion by harnessing the power of blockchain.Addressing a gender imbalanceThe company also outlined the importance of the appointment from the perspective of gender equality, in an industry that is not well represented by women. The press release goes on to state that Cheng herself “places a strong emphasis on gender equality.” Cognizant of the formidable challenges women encounter in what is very much a male-dominated sector, it appears that Cheng has made the subject a cornerstone of her agenda.Cheng stated: “As we evolve technologically, it’s equally imperative that our culture evolves.”DiversificationThe gender diversity problem in crypto has long been recognized. When it comes to venture capital-backed crypto startups, less than 20% implicate female startup founders.Her rise through the ranks is more than just a professional achievement; it symbolizes the dismantling of merit-based glass ceilings and underscores the ongoing progress in society. Cheng’s ascendancy signifies a profound shift in the crypto realm, one that champions innovation and inclusiveness.From the perspective of investors, a study carried out by Gemini in 2021 found that only 26% of crypto investors were women. The issue isn’t confined to crypto and extends across the broader finance and technology spaces in general. A McKinsey study highlighted that 64% of C-suite executives in financial services were men, with 23% being women.ZORIXchange was founded in 2022 by David Pan. Pan previously worked for KPMG in Taiwan as its COO for Startups and Innovation. In 2018 he left KPMG to establish the ACE crypto exchange in Taiwan. ZORIXchange builds on his experience in the exchange business, within the Middle Eastern market and beyond. ZORIX has offices not only in Dubai, but also in Malaysia and Singapore. The firm has plans to extend its geographical offering further, with a proposed expansion into Hong Kong and Australia in the works.According to a press release published earlier this year, the company is focusing on getting compliance right. With that, it is in the process of acquiring licensing in Dubai, having previously obtained crypto trading licenses in Lithuania and Slovakia.The exchange is expected to launch fully in September, with plans to offer fiat withdrawal and deposit options, together with a debit card product.

Coincheck, a subsidiary of Monex Group, a Tokyo-based global financial services firm, has gained U.S. Securities and Exchange Commission (SEC) approval to become the first Japanese crypto exchange to list on the Nasdaq, an American stock exchange.Photo by Denys Nevozhai on UnsplashSPAC mergerThe approval by the U.S. regulator was filed on Nov. 13. The listing has been enabled due to the company’s decision to enter into a merger with a special purpose acquisition company (SPAC), namely Thunder Bridge Capital Partners (TBCP).  A SPAC raises money through an initial public offering (IPO) to either acquire or merge with an existing company. Opting for a SPAC means that Coincheck can forego a lot of the time and expense that would be necessary if it attempted to effect an IPO on its own. Parent company Monex Group published a statement outlining that Coincheck CEO Yuko Seimei had “been diligently preparing for listing its common stock on the Nasdaq Global Market (“Nasdaq”) through a previously announced business combination with Thunder Bridge Capital Partners.” Possible Nasdaq listing on Dec. 10 In a press release issued by TBCP, the company claimed that the proposed merger is anticipated to close on or about Dec. 10, 2024. That eventuality is subject to stockholder approval, Nasdaq approval and specific closing conditions. Consequently, Coincheck’s Nasdaq listing could potentially happen as early as Dec. 10. TBCP is holding a shareholder vote on the merger on Dec. 5. If all conditions are satisfied to pave the way for listing, the company’s stock will be listed using CNCK as the Nasdaq stock ticker. Once the merger and Nasdaq listing have been accomplished, Coincheck will still remain a subsidiary of Monex Group. The merged business will gain access to $237 million, held in trust by TBCP, with Monex retaining an 82% stake in the company. Furthermore, Thunder Bridge CEO Gary Simanson will lead the new company. The $1.25 billion merger had been in the works since 2022, having faced multiple delays on the path towards merger completion and Nasdaq listing. Coincheck finally filed with the SEC to merge back in May. Parent company Monex has other interests in the digital asset sector beyond its involvement with Coincheck. Last December the company acquired a majority stake in 3iQ Digital Holdings, a Canadian crypto asset management company.Monex has just launched a new brand, Monex Web3, comprising of Monex’s Web3 business portfolio. It also offers a Web3 consulting business, using its local know-how to guide Web3 startups in entering the Japanese market. Coincheck has also engaged in partnerships to assist other firms in gaining access to the Japanese market. Earlier this year the leading Japanese crypto exchange partnered with USD Coin (USDC) stablecoin issuer Circle, in an effort to expand USDC access within the local market. In January 2018 the exchange suffered what was at the time the world’s largest ever digital asset theft, losing $534 million in virtual assets in a hack of the platform.