What’s Happening in Crypto Today? Daily Crypto News Digest
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In crypto news today:
- Crypto market is red today
- 22-Year-Old ‘Pirate’ Stole $65 Million in Crypto
- HashKey Capital Approved to Offer Virtual Assets DAM to Hong Kong Professional Investors
- Interop Labs Pledges $1M to Vitalik Buterin’s Alma Mater, Waterloo University
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Crypto market is red today
The crypto market continues the red streak. Over the past 24 hours, the global cryptocurrency market capitalization fell 0.6% to $3.37 trillion.
At the time of writing, the daily crypto trading volume is $138 billion.
Moreover, the majority of the top 100 coins per market cap list is red now.
However, when it comes to the top 10 coins per market cap, five appreciated, while three saw declines in their prices (not taking the two stablecoins into account).
The highest decrease is XRP (XRP)’s 2.5% to the price of $2.45. Solana (SOL) and Dogecoin (DOGE) are down less than 1% together.
Ethereum (ETH) leads the green list with a 3.3% rise to $2,842.
At the same time, Bitcoin (BTC) is up 1.3%, currently trading at $98,588.
22-Year-Old ‘Pirate’ Stole $65 Million in Crypto
A Canadian 22-year-old man, Andean Medjedovic, has been charged with stealing $65 million in crypto and with laundering the illegal gains, US federal prosecutors said.
The New York Times reported that the defendant is responsible for “sophisticated” thefts in the KyberSwap and Indexed Finance schemes, stealing some $49 million and $16 million, per an indictment.
In 2021, Medjedovic was a Master’s student at the University of Waterloo when was charged for the Indexed Finance scheme. He used his “formidable mathematical powers” to steal the funds, a judge in Canada said. Medjedovic has been on the run from the authorities in Canada since then and is now charged for the same incident in the US.

Medjedovic, who referred to himself as a “pirate,” borrowed hundreds of millions worth of tokens, used them to manipulate prices through a sequence of trades, transferred out the tokens, and defrauded investors, the prosecutors say.
“Key to his scheme,” they added, “was exploiting weaknesses in the computer code that set prices on these exchanges.”
Medjedovic denied any wrongdoing and argued that his trades were legal.
HashKey Capital Approved to Offer Virtual Assets DAM to Hong Kong Professional Investors
Global digital asset and blockchain company HashKey Capital received approval to offer discretionary account management services for virtual assets (VA) to professional investors in Hong Kong under the firm’s existing type 9 license. This follows the recent approval from the Securities and Futures Commission (SFC).
According to the press release, HashKey Capital can now manage curated investment products for professional investors across a pre-approved list of exchanges. This includes spot crypto investments, over-the-counter (OTC) trading, derivatives, and staking. The company then makes investment decisions custom-made to their goals.
This allows professional investors to gain exposure to virtual assets while the company ensures risk management.
The company said that the approval enables it to deliver end-to-end services across the entire investment lifecycle.
Professional investors can select from HashKey Capital’s pre-designed investment strategies or work with the team to develop fully customized mandates. They can also choose from a vetted list of trading platforms.
“Once an investment strategy is finalized, HashKey Capital manages all aspects of its execution. This includes discretionary buying and selling, asset allocation, ongoing monitoring, rebalancing, and detailed reporting,” the announcement explained.
Interop Labs Pledges $1M to Vitalik Buterin’s Alma Mater, Waterloo University
Interop Labs, the initial developer of the Axelar Web3 interoperability network, announced a $1,000,000 donation to grow the Computer Research Endowment at the University of Waterloo.
Ethereum co-founder Vitalik Buterin is a former University of Waterloo student.
Per the press release shared with Cryptonews, the donation will support the creation of an AI and blockchain research laboratory at the David R. Cheriton School of Computer Science, the largest academic computer science research center in Canada.
The laboratory will be named the GENESIS Lab, standing for Generative AI for Secure, Interconnected Systems. The open-source research lab will offer 12 PhD fellowships and six undergraduate fellowships administered via the student-run organization Waterloo Blockchain.

“The introduction of this cutting-edge facility aligns with initiatives like AI agent developer Eliza Labs’ (ai16z) partnership with Stanford University,” said the announcement, “where researchers are studying how autonomous AI agents can transform digital currency systems.”
The donation will help foster collaboration between academia and industry at the intersection of AI and blockchain, it added. It will also attract top research talent to the university through PhD fellowships, industry seminars, and postgraduate scholarships.
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