Topic

United States Department of Commerce

U.S. federal executive department overseeing commerce

Also known as Commerce, US Department of Commerce, Department of Commerce, U.S Department of Commerce, Commerce Department, DOC

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Kakao, Toss, Circle Explore Stablecoin Infrastructure

South Korea's Kakao Group and Toss (Toss Bank) have signed MOUs with Circle Internet Group to develop digital asset infrastructure and KRW-based stablecoins, aiming to connect Circle's global payment networks with Kakao's platform and Toss's fintech ecosystem. The collaborations seek opportunities across stablecoins, tokenized financial services, biometric payments, and interoperable settlement, aligning with evolving domestic regulation.

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AFX Bridge Hack on Arbitrum Drains $24.15M

Multiple cross-chain bridge exploits hit the AFX Protocol and Verus Protocol, draining about $24.15 million from AFX's bridge and $7.5 million from Verus, highlighting ongoing risks in cross-chain infrastructure on Arbitrum. Officials confirm the Arbitrum native bridge was not compromised; the breach originated from a third-party protocol, with attackers moving funds to Ethereum and converting to ETH, as investigators from Blockaid and the Arbitrum team pursue answers.

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Key facts

Country: United States
Headquarters: Washington, D.C.
Inception: February 14, 1903, March 4, 1913
Website: https://www.commerce.gov/

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