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SafePal updates on security incident progress: launching anti-phishing actions and will commission a third-party agency to review the order system

The cryptocurrency wallet project SafePal has released updates on the security incident, stating that it is continuously tracking phishing websites and impersonation accounts, and plans to introduce a professional anti-phishing security company to expedite the removal of malicious information to protect user asset security. SafePal mentioned that it is currently in the final selection process among four professional anti-phishing security companies, and once a partner is selected, it will further enhance the efficiency of handling threats such as counterfeit websites and scam accounts.The team is also continuously monitoring whether the affected data has been sold or made public, including channels such as dark web forums and trading markets. Once signs of data leakage are detected, affected users will receive risk alerts immediately. Regarding security audits, SafePal stated that it is in the final selection among three mature independent security institutions, which will conduct a comprehensive security review of the order system. Meanwhile, the team is reassessing the order and logistics processes to reduce the amount of data that needs to be stored in the initial phase of the system, thereby reducing potential risks from the source.For affected users, SafePal stated that it will continue to provide one-on-one assistance through official support channels and will keep updating the fraud protection page, providing updates on the incident, FAQs, and analysis of fraud cases. SafePal once again reminds users: the official will never ask users to provide their seed phrase. Users should not disclose their seed phrase to anyone, should not scan unknown QR codes or click on suspicious links, and should verify the source of information through official channels.

Stripe is in talks to acquire PayPal, with a transaction valuation potentially reaching $53 billion

According to Techcrunch, acquisition negotiations between payment giant PayPal and Stripe, along with private equity firm Advent Global Opportunities, are heating up, and a deal may be reached in the coming weeks.In July, Stripe and Advent proposed to acquire PayPal for $60.50 per share, with a total transaction valuation of approximately $53 billion, but PayPal did not accept the offer at that time. However, insiders revealed that the negotiations have not been interrupted and are still ongoing.Neither PayPal nor Stripe has confirmed the related news. PayPal declined to comment, while Stripe stated that it would not respond to market rumors or speculation.This potential sale comes as PayPal seeks to reverse its growth challenges. After taking office in March this year, PayPal CEO Enrique Lores launched a restructuring plan that splits the business into three main areas: payment checkout and PayPal business, consumer financial services (including Venmo), and payment services and cryptocurrency business.Lores previously stated that PayPal would return to its identity as a technology company and strengthen its core payment capabilities. At the same time, the company plans to improve efficiency by cutting costs, with layoffs expected to reach 20% over the next two to three years.Founded in 1998, PayPal's founding team includes well-known Silicon Valley figures such as Peter Thiel, Elon Musk, and Max Levchin. The company experienced rapid growth during the e-commerce boom during the pandemic but has faced challenges such as slowing growth and pressure on its stock price in recent years. If the deal is finalized, it will become one of the largest acquisitions in the fintech industry in recent years.

BlackRock's tokenized reserve fund receives the highest principal stability rating from S&P Global

S&P Global Ratings on Monday awarded BlackRock's new tokenized money market fund, BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV), an "AAAm" rating, the highest rating for principal stability funds. The rating is based on factors including the credit quality of investments and counterparties, the term structure, and the management's ability to maintain stable net asset value. S&P Global Ratings stated that no weaknesses were found in BlackRock's management and organization, credit research and analysis, risk management, and compliance.It also noted that the fund's tokenization framework has operational resilience, using a permissioned architecture that restricts transactions to whitelisted wallets to reduce risks associated with the network, smart contracts, and blockchain networks. BRSRV was launched on Monday as an open-end management investment company, aiming to ensure that its shares meet the qualified reserve asset requirements for payment stablecoin issuers under the GENIUS Act. The fund will hold cash, U.S. Treasury securities maturing in 93 days or less, and overnight repurchase agreements backed by Treasury instruments, maintaining a weighted average maturity of no more than 60 days and a weighted average life of no more than 120 days.S&P Global Ratings also released a separate summary of stablecoin stability assessments on Tuesday, stating that among the 11 stablecoins covered, 6 have "adequate" or stronger capabilities to maintain fiat currency pegs. USDT remains at a level 5 "weak," while TUSD and USDe are also at level 5; USDC, EURC, USDG, and USDP are rated level 2 "strong."
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