Radiant Capital attackers converted $14 million in DAI into ETH and transferred it to Tornado Cash

- South Korea's National Assembly plans to enforce strict VASP regulations requiring criminal record checks for all major shareholders, including foreign investors. - The law mandates re-evaluation of existing VASPs, creating compliance challenges for smaller firms with complex ownership structures. - By extending oversight to global criminal records, the reform sets a potential international precedent and could reshape cross-border crypto investments. - While critics warn of stifled innovation, proponents

- S&P Global downgrades Tether's USDT to "5 (weak)" due to high-risk reserves and transparency gaps. - Tether's 5.6% Bitcoin exposure exceeds S&P's 3.9% overcollateralization threshold, risking undercollateralization if prices fall. - Tether defends practices with quarterly audits and $10B 2025 profit, dismissing the downgrade as outdated. - Recent crypto market turmoil and past stablecoin collapses highlight risks in opaque reserve management. - Tether's resilience amid crises contrasts with S&P's warning