In today's crypto news, Indian exchange WazirX is implementing a restructuring plan to compensate users affected by a $235 million cyberattack in July 2024. The plan, supervised by Singapore's legal system, includes a moratorium filed by WazirX's parent company Zettai in August, allowing for a binding arrangement with creditors through a Singapore Scheme of Arrangement. The exchange currently holds $566.4 million in liquid assets, surpassing user claims of $546.5 million. They are also introducing recovery tokens tied to future profits to aid in compensation. WazirX founder Nischal Shetty emphasized that these steps aim to restore user trust in the platform. Meanwhile, the UK Treasury clarified that crypto staking, relevant for proof-of-stake blockchains like Ethereum and Solana, does not fall under collective investment scheme regulations, easing compliance for these crypto operations. Additionally, Circle, the issuer of USDC, has donated $1 million to Donald Trump’s inauguration committee, marking a significant moment for digital currency in political finance.

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