New Critical iPhone Exploit, Morgan Stanley Taps Coinbase, a16z to Raise $2 Billion: The Last 24 Hours in Crypto

A lot happened in the world of cryptocurrencies over the last 24 hours. We have handpicked a few of the more important titles you may have missed, so let’s have a quick look.

Google Warns of New iPhone Exploit Targeting Crypto Users

Google researchers have flagged a relatively powerful exploit kit that they call “Coruna.” It is capable of infecting iPhone devices and potentially jeopardizing sensitive information, including seed phrases of cryptocurrency wallets. The toolkit contains a total of 23 vulnerabilities across five exploit chains that target devices running older versions of iOS, ranging from iOS 13 to 17.2.1.

Multiple security analysts say that attackers have managed to deploy the exploit through compromised websites and fake crypto-oriented platforms. Once a vulnerable device visits the website, malware can scan messages and apps like MetaMask to locate wallet credentials or financial information.

The exploit has originally been linked to espionage campaigns before spreading to cybercriminal groups with financial motives. This highlights how advanced surveillance tools can leak into the broader criminal ecosystem, as well as the critical importance of maintaining technological hygiene, updating your phone’s software, and following mandatory security tips when interacting with crypto platforms.

Morgan Stanley Taps Coinbase and BNY Mellon for Bitcoin Infrastructure

Morgan Stanley is preparing to deepen its involvement in crypto infrastructure. The banking behemoth is supposedly considering launching a Bitcoin investment product. The bank intends to rely on Coinbase for cryptocurrency custody services, as well as on BNY Mellon for additional asset custody related to the proposed Morgan Stanley Bitcoin Trust.

The ETF itself will hold Bitcoin directly, and the custody structure will primarily rely on offline cold storage to reduce hacking risks, according to the filing.

The move signals growing institutional demand for regulated access to crypto products. Major financial institutions have undoubtedly increased their involvement and partnered with well-known crypto firms rather than building their own infrastructure in a bid to accelerate Wall Street’s venture into the digital asset industry.

Zerohash Applies for U.S. National Trust Bank Charter

Popular crypto infrastructure firm Zerohash has formally applied for a National Trust Bank Charter with the U.S. Office of the Comptroller of the Currency (OCC). This step could enable the company to operate as a federally regulated trust bank.

If the application is approved and the charter granted, this would allow Zerohash to further expand its services to niches such as digital asset custody, stablecoin management, and tokenized asset infrastructure under a unified federal regulatory framework.

The company is already powering crypto integrations for institutions, which include Morgan Stanley, Stripe, and Interactive Brokers. The move comes a day after Kraken became the first crypto company to obtain a Fed Master Account.

Venture Giant a16z Targets $2 Billion for a New Crypto Fund

Silicon Valley venture capital powerhouse Andreessen Horowitz (a16z) is raising around $2 billion for a fund focused on investing in the cryptocurrency industry. According to the reports, the round can close as early as the first half of this year.

Historically, a16z has been one of the most prominent VCs in the Web3 ecosystem, backing major projects and startups across blockchain infrastructure, crypto apps, DeFi, and related areas.

Despite the ongoing crypto winter, a new fund of this size suggests that venture investors still see long-term opportunity, highlighting that periods of pressure can also be times of opportunity. Recall that Dragonfly  – another crypto-oriented VC – recently launched their fourth fund worth $650 million.

Tether Makes $1.5 Billion Bet on AI Sleep Tracking

Last but not least, we have the stablecoin giant Tether making a strategic investment in the AI-powered mattress and sleep-oriented technology company Eight Sleep at a $1.5 billion valuation.

The investment seems to be part of the firm’s broader strategy to diversify and expand well beyond crypto and stablecoins into emerging sectors such as health technology and artificial intelligence.

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