Crypto

Poland's parliament failed to override a presidential veto on MiCA legislation, leaving local crypto firms unable to secure new licenses. This deadlock allows EU-authorized rivals to enter the Polish market freely via cross-border passporting. With the old Polish crypto register now invalid, domestic firms must either wait or seek authorization in other EU member states.

Hunter Biden plans to launch LAPTOP, a memecoin on Base, on September 9, with one billion tokens. Founders receive 30%, and 20% is earmarked for airdrops. This move tests Biden's prior criticisms of political profiteering in crypto, despite his past condemnation of the Trump family's similar ventures.

Cronos reported its Tectonic exploit affected $120.4 million in borrowing. Before validators could intervene and roll back the exploit, $9.2 million, or 7.6% of the affected funds, was transferred off-network. The company confirmed this outflow in its post-mortem analysis.

A new analysis reveals XRPL lending defaults can lead to significantly different investor losses depending on loan size. With the same total bad debt, a single large default can cause 20 times more vault loss than multiple smaller defaults due to how the protocol's reserve cover is capped per loan.

A new Ethereum proposal aims to let nodes process heavier privacy transactions locally. However, a recent benchmark reveals that the gas cost for verifying these privacy proofs is nearly double the proposed public network allowance of 100,000 gas. This discrepancy poses a challenge for ensuring wider network-wide propagation and adoption of advanced privacy features.

Bitcoin's price fell 2% over the US Labor Day holiday, failing to hold the $80,000 mark. The drop occurred amid low-liquidity conditions, where reduced trading activity can amplify price movements. This holiday period saw less market participation, impacting the cryptocurrency's performance.

Zcash (ZEC) gained 45% in the last week, extending a rally. This surge began after Grayscale converted its Zcash Trust into an ETF, which started trading on August 25, attracting significant investor interest.