Binance Co-CEO: MiCA ensures user asset security during the transition period; withdrawal functionality remains available.
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KAST's terms of service have sparked controversy, with the CEO questioning user asset ownership.
PANews reported on July 7th that Mike Silagadze, founder and CEO of ether.fi, published an article questioning the terms of service of KAST, a stablecoin payment and crypto card platform. The terms explicitly state that when users transfer cryptocurrency or stablecoins to KAST, it is considered a sale of the relevant virtual assets to KAST, and users no longer retain ownership of the assets; the records displayed in the app are only denominated in USD and do not constitute account balances, deposits, or stored value. Furthermore, KAST emphasizes that it is not a bank, and user funds are not protected by deposit insurance. Since both KAST and ether.fi Cash offer stablecoin payment and crypto card services, they are direct competitors.
Gate responded to online rumors of user asset theft: An urgent investigation is underway, and preliminary assessments indicate it is an isolated incident.
According to Foresight News , Gate responded to online reports of user assets being stolen, stating that the incident shows the customer made a withdrawal between 3:00 PM and 4:00 PM on July 7th, and reported the loss to online customer service at 5:00 PM on July 8th. Gate has initiated an investigation, and the incident is currently under urgent investigation. Preliminary assessments indicate it is an isolated case, there are no system security vulnerabilities, and the website is operating normally. Preliminary investigations suggest this incident may be related to a leak of user information; the specific details are under investigation. Gate will disclose further details as soon as the investigation concludes.
Binance brushes off Lagarde MiCA speculation, reaffirms Europe commitment
Binance declined to address reports of ECB intervention in its Greek MiCA bid, saying it remains committed to securing authorization in Europe.
Binance opens crypto trading to AI agents with user-set controls
Binance’s Agent OS lets AI agents access market data, execute trades and make payments while giving users control over permissions and account access.
Gate Founder Dr. Han: Gate's early completion of MiCA licensing will push the European crypto market towards fair competition.
According to ChainCatcher, CoinDesk reports that with the full implementation of the EU's Crypto Asset Market Regulation (MiCA), the European digital asset market has entered a new era of unified regulation. Regarding the impact of MiCA on the industry landscape, Gate founder and CEO Dr. Han stated in an interview that Gate began its European compliance preparations several years ago and completed its MiCA and Payment Institution (PI) license preparations ahead of schedule in 2025. He pointed out that the significance of MiCA lies not only in establishing a unified regulatory framework, but more importantly, in putting all market participants on a level playing field. "Only when all platforms adhere to the same rules can the industry truly compete around products, services, and user experience." He also stated that if unauthorized platforms continue to provide services to European users, a level playing field will remain a challenge, making effective regulatory enforcement equally crucial. Currently, Gate Europe is leveraging its MiCA and PI licenses to continuously improve its compliance system, risk management, and operational governance capabilities, and is continuously deepening its global compliance strategy. In addition to Europe, multiple Gate entities have completed relevant regulatory registrations, license applications, or obtained authorizations and approvals in jurisdictions such as Malta, the Bahamas, Japan, the United States, Australia, and Dubai. Through multi-regional regulatory approvals, Gate has solidified its global business foundation and continues to provide global users with safer, more transparent, and more efficient digital asset services. Looking ahead, Gate will continue to adhere to a parallel development strategy of compliance and innovation, promoting the long-term healthy development of the digital asset industry through superior product experiences and global service capabilities.
Bitget CEO says $388M hack exploited third-party security vulnerability
Some stolen assets have been frozen, but Bitget has yet to disclose how much has been recovered as investigators continue to assess a possible North Korea link.