North Korea Arrests Its Own Hackers Over Stealing From State Banks | CoinDesk Daily

Uyen Truong (0:00)

North Korea arrests its own hackers for looting state banks, and Coinbase's CEO says pivoting from crypto to AI is a mistake. This is CoinDesk Daily.

Realfi, a smarter stablecoin backed by real world assets. Visit realfi.co. North Korean authorities arrested a group of hackers accused of stealing state funds from two of the country's own banks. According to a Daily NK report, the group breached the bank's internal systems, then moved foreign currency into overseas wallets. The National Intelligence Agency detained the suspects at a Pyongyang safe house on July 12th. Coinbase CEO Brian Armstrong is pushing back on the wave of crypto companies rebranding themselves as AI firms. If you're in crypto, pivot to AI. I used to hear versions of this, and it's the wrong way to think about the world. Armstrong wrote on X, calling the trend zero-sum scarcity thinking.

Armstrong says, autonomous AI agents will soon move more money than humans do and crypto is the only rail fast enough for it. Follow JPEG Trading on X for insights on crypto markets, liquidity and DeFi.

And Strategies Cash Reserve now stands at $3.75 billion after the company raised $544.5 million last week through stock sales. Executive Chairman Michael Saylor says that's enough to cover 2.1 years of dividends on its preferred stock. The company made no changes to its Bitcoin holdings, which remain at 843, 775 coins. Get more updates on coindesk.com. Lower rates, protected Bitcoin. Ledn's lowest loan rates ever. Check yours at ledn.io.