Crypto

The Federal Reserve has proposed new capital, redemption and regulatory requirements for stablecoin issuers under its supervision, advancing the implementation of the GENIUS Act.

The Federal Reserve proposed two rules on Thursday defining how payment stablecoin issuers supervised by the central bank must hold reserves, manage risk and qualify to enter the market.

Chen said the full loss falls within Bitget’s User Protection Fund, which holds more than $464 million.

Samourai Wallet co-founder faces new transfer after 30-day ordeal Samourai Wallet co-founder Keonne Rodriguez faces another prison transfer after a drug-treatment program at FCI McKean was deactivated, according to his account Wednesday.

Crypto exchange Bitget said on September 24 that a system breach had exposed $351.6 million of its assets, potentially making it one of the year’s largest cybersecurity incidents.