ameliaor281

@ameliaor281

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The startup operates in a community-driven model, where 90% of its native token is distributed to users, enabling profit-sharing and governance. The funding will support Usual’s expansion as it aims to move into traditional finance.

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Usual offers a stablecoin reportedly backed by real-world assets (RWA), designed to maintain stability while minimizing banking risks. According to DefiLlama, its stablecoin Usual USD (USD0) holds over $1.7 billion in total value locked as of Dec. 31.

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French startup Usual, a decentralized stablecoin issuer, has raised $10 million in Series A funding, led by Binance Labs and Kraken Ventures, with additional backing from firms like Coinbase Ventures and Ondo.

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The Securities and Exchange Commission (SEC) conveyed the “concerning rhetoric” that an ERC-20 token in tandem with a blockchain game cannot be issued without first being registered as a security, CyberKongz said in a Dec. 16 X post.

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Gaming tokens may be in for a setback after non-fungible token (NFT) platform CyberKongz received a Wells notice from the United States securities regulator.

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In August, blockchain security firm Chainalysis said that pig butchering scams were on the rise this year as cybercriminals are favoring the quicker style of scams over long-burning Ponzi schemes.

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The EFCC spokesperson said the agency was collaborating with international partners and would be looking at whether the alleged scheme was linked to organized crime.

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Nigerians, for example, might be paid as much as $500 monthly — 10 times more than the country’s minimum wage — plus bonuses, depending on how many successful scams are pulled off.

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Gamble said that such workers, recruited through job ads, would be paid “better than usual” compared to their country’s average income.

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Some in Myanmar had up to 5,000 people working in their schemes, he said.

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Gamble said the alleged Lagos-based scheme was smaller than others, with Chinese ringleaders typically aiming to employ around 1,000 people in their organizations.

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“Chinese organized crime groups are expanding their operations into countries with weaker cybersecurity enforcement frameworks,” Gamble said.

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Ken Gamble, co-founder of the cybercrime investigative firm IFW Global, which has worked with the EFCC, told Cointelegraph that Chinese crime groups are expanding into Africa, the Middle East and Eastern Europe after setting up larger similar schemes in Southeast Asia.

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“Technically, Congress is supposed to pass laws. Those laws delegate the authority to executive agencies like the SEC to interpret, but they are only supposed to interpret within the parameters that were delegated,” Ho said.

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“The common theme in lawsuits like Coinbase and Ripple is that the SEC is overstepping its bounds,” she said.

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Whatever happens, Atkins is unlikely to follow his predecessor Gensler’s approach, which has been criticized for being overly aggressive to crypto regulation and for routinely overstepping the SEC’s congressional mandate and enacting “regulation by enforcement.”

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That said, there are numerous crypto bills already up for consideration including stablecoin legislation and FIT 21, which provides a regulatory framework for crypto and has already passed the House of Representatives.

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“Leveraged longs have gone through the market equivalent of an extinction event over the last 24 hours,” he added.

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Swyftx lead analyst Pav Hundal told Cointelegraph that the broader crypto market pullback “looks like a blip,” adding:

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Santiment said that if retail traders “react with fear” and offload their crypto too quickly, it could trigger an aggressive recovery.

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