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Philippines’ ‘Blockchain the Budget Bill’ (SB 1330) Seeks Full Transparency in Public Spending
Philippine Senator Bam Aquino has filed the “Blockchain the Budget Bill” (SB 1330) to make the national budget fully transparent using blockchain technology. The proposal mandates logging all government contracts, projects, and disbursements on a tamper-proof ledger for real-time tracking and auditing by citizens. Aquino said the measure will curb corruption and ensure accountability: “Bawat piso, kita ng publiko.” If approved, the Philippines will be among Asia’s first to apply blockchain in budget management.
India will adopt the OECD’s global Crypto-Asset Reporting Framework (CARF) by 2027, bringing offshore crypto holdings of Indian residents under strict tax reporting rules. This adds to India’s already tough regime of 30% gains tax, 1% TDS, and no loss set-off. With CARF, foreign-held crypto assets will also come under the scanner, tightening oversight and closing loopholes for Indian investors.
A Venus Protocol user lost $27M in a single click after approving a malicious transaction that granted unlimited wallet access. The attacker’s burner wallet (0x7fd8…202a) instantly drained $19.8M vUSDT, $7.15M vUSDC, $146K vXRP, $22K vETH, and 285 BTCB. Importantly, Venus Protocol itself was not hacked; this was a case of social engineering. One bad approval led to the loss of generational wealth, highlighting the extreme risks of unsafe approvals in DeFi.
September 2, 2025 10:52:18 UTC
Amplify Files for Spot Income XRP ETF With Yield Twist
Amplify, a U.S. investment firm managing $12.6B across 70+ ETFs, has filed for a spot income XRP ETF, drawing attention in the crypto space. Unlike traditional ETFs, this product aims to combine XRP price exposure with covered calls, generating monthly income for investors seeking both yield and upside. Notably, Amplify may not directly custody XRP, instead holding assets tied to its value. The filing, highlighted by lawyer Bill Morgan, still awaits SEC approval.
September 2, 2025 10:38:54 UTC
Trump-Backed WLFI Faces Heavy Sell-Off as Presale Investors Cash Out
Over 9,000 onchain holders have offloaded more than $22M worth of WLFI since launch, with $1B deposited on exchanges. WLFI, sold in presale rounds at $0.015 and $0.05, launched September 1 at $0.30, hitting a peak above $0.33 before dropping 25% from ATH. Data shows $18.3M sold on Ethereum by 4,649 wallets and heavy selling on Solana as well. Presale investors appear to be locking in profits amid the downturn.
