According to @phantom, multi-party crypto wallet Safe has launched a new development unit, Safe Labs, to enhance security and attract institutional clients. This strategic shift follows a major hack and aims to address what Safe Labs CEO Rahul Rumalla calls 'cyber warfare' in the crypto space. The new unit will develop a 'V2' wallet and a 'Safe Pro' subscription plan for enterprises, building on Safe's platform which already secures over $60 billion in total value locked (TVL) and processes 10% of all EVM transaction volume. This security-focused development occurs as the market sees increased phishing attacks, such as a recent front-end exploit on a major crypto media website. Concurrently, market data indicates a downturn, with Ethereum (ETH) trading around $2,405, down approximately 3.5%, and Solana (SOL) dropping to about $147.55, a 4.7% decrease.

According to Crypto Rover, CZ has raised concerns regarding the recent Bybit hack, criticizing Safe for providing vague explanations and leaving unanswered questions. Additionally, CZ clarified that Binance does not use Safe, which might impact perceptions of security measures in crypto trading platforms.

According to Flood, the recent security issue has been identified with SAFE, not Bybit, as initially speculated. This clarification is crucial for traders as it shifts the focus of security concerns away from Bybit, potentially impacting trader confidence and decision-making related to asset safety on these platforms. Source: Flood's Twitter post.

According to CCData_io, several significant developments are occurring in the cryptocurrency market. Microsoft shareholders are set to vote on whether to add Bitcoin (BTC) to the company's balance sheet, which could significantly impact the market if approved. Kraken is planning to launch an Ethereum (ETH) Layer-2 blockchain next year, potentially enhancing its service offerings and attracting more users. Consensys is advocating for clearer cryptocurrency regulations, emphasizing the need for a structured legal framework. Additionally, notable market movers include WELL, SAFE, and APE, indicating active trading interest in these assets.