RABIT Weekly News (W3 October 2022)

Oct 19, 2022 • 1 min read

On October 10th, at the annual Google conference, ‘Google cloud next 2022’, Google announced their plans to implement cryptocurrency such as bitcoin as their cloud service payment starting next year. Google chose Coinbase, the largest cryptocurrency exchange in the U.S, as their partner to establish a cryptocurrency payment system. Implementing a cryptocurrency payment system on the cloud service will be the start of google’s expansion of digital asset-related business.
BNY Mellon, America’s oldest bank, announced plans to launch digital assets in the platform, where traditional asset investment is held, starting on October 11th. BNY Mellon is now the first large U.S bank to provide digital asset service. As BNY Mellon is a large bank with a history of more than 200 years, its launch of a digital asset platform is expected to positively impact other U.S banks’ entry into the digital asset market in the future.
The hacking damage on the decentralized finance platforms this year is estimated to total more than $3 billion. The record shows more than 125 cryptocurrency hacking incidents this year alone. It seems that hackers identify weaknesses in the decentralized financial transactions and security systems to use them to attempt the constant hack. Last year recorded the largest amount of hacking damage ever in history, but now there is a possibility that this year’s continuous hacking damage may surpass last year’s record.

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