News updates for 06.12.2021

1. Hacked Bitmart to Compensate Crypto Traders After USD 200M Loss

Major centralized crypto exchange BitMart, which fell victim to a hack over the weekend and lost approximately USD 200m worth of digital assets, intends to compensate affected users and resume its operations.

2. Singapore’s MAS flags Bitget following dispute with K-pop band BTS

The Monetary Authority of Singapore has suspended operations of crypto-exchange Bitget in the country, according to a report by FT. 

3.Indian Crypto Bill: Exchange CEO Discusses What to Expect – Regulation Bitcoin News

There are reports that the Indian government may impose restrictions on self-custodial cryptocurrency wallets and only allow Indian crypto exchanges.

4. Singapore Wants to Lead on Crypto, Not K-Pop Pensions.

 A coin to take care of BTS may be a bit too much for the central bank, which has for the first time acknowledged digital assets as an “emerging".

5.Umberto Veronesi Foundation, donations in Bitcoin and crypto
The Italian non-profit organization Umberto Veronesi Foundation, founded in 2003 in Milan, has created the Gold for Kids programme with the aim of funding the daily work of top researchers in the fight against paediatric cancers. 

6. Bitcoin Drops 20% in 7 Days, Crypto Market Loses $500 Billion

Bitcoin saw a major price correction on Saturday as the digital currency lost nearly 10% of its value within 1 hour. Overall, BTC is down by almost 20% in the last 7 days.