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Kraken CEO says forthcoming platform will enable NFT-collateralized loans

Kraken CEO Jesse Powell says the exchange’s forthcoming non-fungible token (NFT) platform will provide services to allow customers to extract additional value from their collectibles. Powell told Bloomberg News that Kraken plans to offer custody services for NFTs, as well as the ability to use NFTs as collateral for loans.  Powell called the functional use of NFTs, such as NFT-collateralized loans, “phase three” of the growing ecosystem for digital art and collectibles. Phase one was speculation and phase two was …

Crypto exchange BitMart reportedly hacked for $100 million

Crypto exchange BitMart has been hacked for $100 million, according to security researchers PeckShield. At 7.30 PM UTC, PeckShield first noticed an excessive amount of outbound transfers. It found that a range of tokens had been sent out of BitMart’s hot wallet, starting at 4.30 PM EST. These tokens included large amounts of meme tokens like shiba (SHIB), plus half a million dollars in the stablecoin USDC. Other commentators have pointed out that funds have also been removed on the …