The Hong Kong government aims to expand its fintech dominance in DeFi and the metaverse despite challenges in the current landscape.
After 14 years of fighting against extradition to the United States, Julian Assange is a free man. AssangeDAO — a decentralized organization created to help raise funds for Assange’s legal fight — revealed that it spent $37 million to help the WikiLeaks founder secure his freedom. Hong Kong’s report on DeFi highlighted the ecosystem’s explosive growth from a modest $6 billion market capitalization in 2021 to over $80 billion in 2023.), an estimated 11,000 ETH worth $37 million has been spent on legal defense and campaigning by AssangeDAO’s The Clock.
Over $572 million was lost in Q2, compared to only $220 million in Q2 2023. Centralized exchange hacks made up the bulk of the quarter’s losses. Before the second quarter, losses from hacks and scams had been declining, with. This decline continued through April and most of May, but losses dramatically increased at the end of May and June.A MakerDAO governance delegate lost $11 million worth of Aave Ethereum Maker and Pendle USDe tokens in a phishing scam due to signing multiple signatures.