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Several prominent crypto exchanges, including Huobi HK, OKX, and Gate.HK, have withdrawn their applications for operational licenses in Hong Kong due to the stringent regulatory requirements set by the Hong Kong Securities and Futures Commission (SFC). This wave of withdrawals highlights the challenges these exchanges face in complying with new rules aimed at enhancing market integrity and anti-money laundering measures.

The HNT token has surged 41%, driven by a broad market rally and significant growth in Helium Mobile’s subscriber base, now over 100,000 users. This increase highlights the dynamic interplay between market trends and Helium’s innovative decentralized network.

BlockFi is starting interim cryptocurrency distributions through Coinbase this month as part of its bankruptcy proceedings. This initiative aims to provide relief to creditors while navigating ongoing regulatory challenges.

The recent $230 million heist at WazirX has highlighted significant security lapses within the exchange, prompting urgent calls for better key management practices and robust security protocols. As WazirX works to recover the stolen assets and restore customer confidence, the incident underscores the critical need for enhanced cybersecurity measures in the cryptocurrency industry.

Facing an increasingly hostile regulatory environment in Nigeria, cryptocurrency exchange OKX has announced it will cease operations in the country by August 16, 2024. This decision reflects the broader trend of cryptocurrency exchanges struggling to operate under stringent regulatory scrutiny in various markets, prompting strategic adjustments in their global operations.