After the U.S. imposed sanctions, Huione Pay — regarded as the largest money-laundering network operating in Cambodia — faced a severe bank run. On December 1, the company suddenly announced it would shut down operations until January 5 and begin a delayed repayment process. Long lines of users have since gathered outside its headquarters in Phnom Penh.
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Kalshi has completed a new $1 billion funding round at an $11 billion valuation, led by existing investors Sequoia and CapitalG, with additional backing from a16z, Paradigm, and others. The platform now claims an annualized trading volume of $50 billion and provides event contracts to users in more than 140 countries, though it still faces legal pushback from some U.S. state regulators.
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Vitalik Buterin presented the Kohaku privacy framework at Devcon. Developed by the Ethereum Foundation, this open-source project offers modular on-chain privacy and security tools, with current modules incorporating technologies like Railgun and Privacy Pools. Kohaku aims to enable optional privacy features for Ethereum-linked wallets, and the team is also considering future integrations such as mixnets and zero-knowledge–powered browsers.
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