558:Hacker Takes Over Tornado Cash::Biden Rejects Crypto-Friendly Debt Deal::Malaysia Closes Huobi

Overnighters,

Episode 558:
Hacker Takes Over Tornado Cash
Biden Rejects Crypto-Friendly Debt Deal
Malaysia Orders Huobi Closure
and More

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The TL;DL -

Hacker Takes Over Tornado Cash-An attacker gained control of Tornado Cash's governance via a malicious proposal, causing potential risk to all funds. The team is now seeking help to save the protocol.

Biden Rejects Crypto-Friendly Debt Deal-President Biden rejects a debt ceiling agreement favoring crypto traders, proposing to end tax-loss harvesting for crypto, which could generate $40bn in tax revenue. GOP leaders push back, citing excessive spending, not revenue issues, as the cause.

Malaysia Orders Huobi Closure-Malaysia orders Huobi crypto exchange to shut down for operating illegally, citing noncompliance with regulations and investor protection concerns.

Hotbit Halts Operations-Crypto exchange Hotbit halts operations, citing deteriorating conditions, investigations, cash flow issues, cyberattacks, and exploitation. Users face withdrawal problems. Other exchanges respond with campaigns to address industry challenges.

ben.eth faces fraud accusations-NFT influencer Ben.eth has been served a settlement demand via an NFT, accusing him of wire fraud over a $7 million token presale. Legal action is threatened if refunds aren't provided.

Crypto Overnighter Podcast (5/22/2023): Welcome back to the Crypto Overnighter with your host, Nikodemus. We provide nightly updates on cryptocurrency, NFTs, the metaverse, and the surrounding industry. Remember, this show does not offer financial advice.

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