Editor's Choice
Fasttoken (FTN) by Fastex raised $23.2 million in private and public sales, becoming the foundation of the ecosystem for GameFi, crypto payments, and NFTs 🎮💰
The private and public sale of Fasttoken (FTN), part of Fastex's ecosystem by SoftConstruct, raised $23.2 million. The public sale of FTN began on January 18 and was completely sold out in less than three days, after being offered to private investors beforehand.FTN is the backbone of the Fastex economy, which includes Fastex Exchange, the NFT marketplace ftNFT, crypto payments through Fastex Pay, and the FastexVerse gaming metaverse. Over 100 gaming companies are already collaborating with Fastex, making FTN a key element in GameFi.SoftConstruct co-founder Vigen Badalyan noted that they are focused on bringing the benefits of web3 to the gaming world and is grateful to their partners for choosing FTN as a gaming token.FTN will be used for all Fastex services, and with the launch of Fastex Chain, it will be used for block validation and staking using the Proof-of-Staked-Activity (POSA) consensus.
The UAE introduces strict measures against unlicensed Virtual Asset Service Providers (VASPs) with criminal and civil sanctions to combat money laundering and financial crimes 📉
The UAE has announced strict measures against unlicensed cryptocurrency companies. The Central Bank and other regulators have introduced new rules that provide for civil and criminal penalties for Virtual Asset Service Providers (VASPs) operating without a license.The measures aim to combat money laundering and financial crimes, related to the UAE being included in the FATF "grey list" in 2022. UAE Central Bank Governor Khaled Mohamed Balama noted that these steps raise awareness about the risks of unlicensed VASPs.The NAMLCFTC Committee has published a list of "red flags" for identifying unlicensed companies, including the lack of physical presence and unrealistic promises.Licensed companies are required to report transactions with unlicensed VASPs to protect the country’s financial system. FATF will review the UAE’s progress in 2024.
Ubisoft will release its first Web3 game, Champions Tactics: Grimoria Chronicles, on the Oasys blockchain on October 23, featuring a PvP system and the ability to own unique digital assets 🕹️🔗
Ubisoft, the French company known for games like Assassin’s Creed and Far Cry, has announced the release of its first game utilizing Web3 technologies.Champions Tactics: Grimoria Chronicles, set to launch on October 23, will be deployed on the Oasys blockchain, which serves as an ecosystem for Web3 games.In an interview with Cointelegraph, the game's executive producer, Sylvain L'Homé, noted that Web3 technologies enhance the gaming experience by providing players the opportunity to own in-game assets.The game is a tactical RPG where players gather teams of champions to participate in PvP battles. Players will be able to own and trade unique collectible champions.One of the key mechanics will be the "Forge" system, which allows players to create and modify champions. L'Homé emphasized that the development team is closely monitoring the balance to ensure that all characters remain competitive.Ubisoft has already conducted alpha and beta tests to gather player feedback and fine-tune the game mechanics.
WazirX forms an anonymous Creditors' Committee of 10 members 💼: Investors raise concerns about the transparency of the process 🔍, the first meeting is scheduled for October 15 📅
The WazirX exchange has formed an anonymous creditors' committee consisting of 10 members. The selection process has raised questions about transparency among investors. In an official statement, the company said that the committee members were randomly selected, which WazirX claims ensures fair representation of creditors' interests.Despite the start of the restructuring process, the identities of the committee members remain undisclosed. Some users on platform X have voiced concerns that the selection process is not transparent enough. WazirX previously sent out a Google form to potential members to participate in the selection process.The first meeting of the Creditors' Committee is scheduled for October 15, where the feedback process between creditors and the company will be discussed.
Ripple launches Ripple Custody service for storing digital assets with XRP Ledger support and 250% client growth 📈
A massive cryptojacking attack affected more than 28,000 devices in Russia and neighboring countries, but the attackers stole only $6,000 in cryptocurrency 💻🔐
The FBI created the cryptocurrency NexFundAI based on Ethereum and seized more than $25 million as part of an operation against market manipulation 💰
The US government has filed lawsuits for the confiscation of over $2.67 million in cryptocurrency 💰, including $1.7 million in Tether (USDT) and $972,000 in Avalanche-bridged bitcoin (BTC.b) 🪙, stolen by Lazarus Group hackers 🕵️♂️
Qualcomm will provide AI-based and wireless technology solutions for Honeywell, supporting digital transformation in the energy sector 🌐
State Street launches bond and money market fund tokenization projects, postponing the creation of a stablecoin and tokenized deposits 🏦
Ubisoft faces a class-action lawsuit from players in the United States for sharing personal data through Meta Pixel without users' consent 🎮
VanEck Ventures launches a $30 million venture fund for early-stage investments focused on fintech, digital assets, blockchain, and artificial intelligence, supporting innovations in tokenized assets and stablecoins 💼💡
Canary Capital has filed for a spot XRP ETF with the SEC following a similar move by Bitwise Asset Management, strengthening the race to launch new cryptocurrency products 📈
Cryptocurrency investment firm Canary Capital filed an application with the U.S. Securities and Exchange Commission (SEC) on October 8 to launch a spot XRP ETF. This is the firm's first step toward launching an exchange-traded fund. Earlier, on October 2, Bitwise Asset Management also filed a similar application for an XRP ETP, which will directly hold XRP. Both companies are awaiting approval of their applications.The firms are seeking to launch their products amid the success of Bitcoin and Ethereum ETFs, which have attracted significant investments. Bitcoin ETFs have drawn nearly $19 billion, while Ethereum funds have experienced capital outflows of around $550 million.These actions are also related to the launch of the Grayscale XRP Trust in September, which provides accredited investors with direct access to XRP and could serve as a basis for future XRP ETFs in the U.S.
Wirex Pay launches a modular blockchain system for cryptocurrency payments with support for Tether, USD Coin, and Dai via non-custodial wallets 💳
Wirex Pay has introduced a modular blockchain payment system that enhances security using non-custodial wallets and a private key system. This solution aims to build trust in platforms by allowing users to have full control over their funds.On October 9th, Wirex Pay launched an early access application, giving selected users the ability to make everyday payments using cryptocurrencies through non-custodial wallets. The application supports cryptocurrencies such as Tether (USDT), USD Coin (USDC), and Dai (DAI), and is available in 54 countries, excluding the United States.Wirex Pay co-founder Pavel Matveev noted that the platform gives users complete control over their funds with the help of private keys and multi-signature, which is especially important amidst declining trust in centralized platforms.
Google integrates support for Ethereum Name Service (ENS): Search for .eth names, instant Ethereum wallet balance check, and simplified cryptocurrency transactions 💼
Google has simplified working with cryptocurrency by integrating support for ENS.Now users can search for .eth names directly through Google and get information about wallet balances associated with those names. ENS (Ethereum Name Service) is akin to a phone book for the Ethereum blockchain, allowing users to send and receive cryptocurrency via simple names instead of long wallet addresses.Google's integration with ENS means that now, by entering a name like “mycoolname.eth” into the search bar, you can instantly view the balance of the crypto wallet. This greatly simplifies the process of using Ethereum and other digital currencies.As the popularity of .eth names grows, this opens up new opportunities for creative people: musicians, artists, and businesses, allowing them to create unique identifiers for their crypto wallets, making them more personalized and user-friendly.ENS names are also supported by PayPal and Venmo, making it even easier for users in the U.S. to send and receive cryptocurrency.
The Supreme Court of Brazil lifted the ban on X (formerly Twitter) after fines of 28 million reais 💰($5.1 million) and account blocks for disinformation 🔐
The Supreme Court of Brazil has lifted the ban on the social network X (formerly Twitter). Judge Alexandre de Moraes authorized the "immediate resumption" of the platform's operation after fines were paid and accounts spreading disinformation were blocked.The platform paid fines amounting to 28 million reais ($5.1 million) and agreed to appoint a local representative, as required by Brazilian law.Earlier, Moraes blocked access to X as the company refused to block profiles spreading false information about the 2022 presidential election.The agency Anatel was instructed to restore the platform’s services for 20 million users within 24 hours.
Best news of the last 10 days
The government of Palau and Japan's Soramitsu have introduced the blockchain system "Palau Invest" for purchasing savings bonds in US dollars via a mobile app 💰🌐
Coinbase adds support for sending Bitcoin to Taproot addresses, providing privacy and reducing fees for millions of users 🌐
NTT Digital becomes a validator for Injective, supporting network growth of 2000% and more than 1 billion transactions, strengthening its presence in Web3 🌐 and blockchain technology 📈
The BCI division returned $130,000 of the $280,000 stolen from a 75-year-old Ohio resident through a cryptocurrency scam involving pop-up warnings 💸
A Russian investigator sentenced to 16 years for receiving a $73 million bribe in Bitcoin from an organized crime group 🎯
A former Russian investigator has been sentenced to 16 years in prison for receiving a bribe in Bitcoin, marking the largest corruption case in Russia's history.Marat Tambiev received around $73 million in Bitcoin from an organized crime group he was investigating. This bribe is more than five times larger than the previous biggest bribe in the country, according to reports by Russian media cited by Reuters.Tambiev transferred more than half of the crime group's funds to his own crypto wallets instead of confiscating all assets for the state, as required by law. The keys to these wallets were found by investigators in a file on his computer labeled "Pension."In court, Tambiev insisted on his innocence, arguing that his actions allowed the state to recover part of the funds belonging to the crime group. Nevertheless, he plans to appeal the sentence.Some of the stolen funds have been recovered, but the whereabouts of the remaining Bitcoin have yet to be determined. It is also reported that his alleged accomplice received nine years in prison.
An 86-year-old former attorney from California sentenced to 5 years of probation and ordered to pay $14 million for participating in a Ponzi cryptocurrency scheme involving Bitcoin 💰⚖️
An 86-year-old former attorney from California was sentenced to five years of probation and ordered to pay nearly $14 million after being found guilty of organizing a multimillion-dollar Ponzi cryptocurrency scheme.According to a ruling by the Federal Court in Las Vegas on October 8, David Cagle was convicted on one count of conspiracy to commit commodity fraud. In May, Cagle pleaded guilty.From 2017 to 2022, Cagle, along with two accomplices, attracted people to invest in a fraudulent scheme related to trading bots, promising high profits and no risk.Over the years, the criminals managed to obtain about $15 million from investors in "various cryptocurrency trading programs." Cagle used his position as an attorney, sending letters on official law firm letterhead, which helped instill trust in the scheme.Deceived individuals believed their money was being invested in cryptocurrency markets using trading bots, and Cagle assured them that he held 1,000 bitcoins in trust.
South Korea is planning to introduce foreign exchange controls over stablecoin transactions due to their growing use in international trade 💼
South Korea is considering the introduction of foreign exchange controls over stablecoin transactions, reflecting the government's concern over their increasing use in international trade. The country's Ministry of Economy and Finance is exploring measures to enhance the stability of cryptocurrency transactions, particularly those involving stablecoins.While stablecoins are currently used primarily within the cryptocurrency ecosystem, the ministry believes they may soon become a means of payment and settlement in the real economy. There are concerns that these assets operate outside the state's control, which could pose a threat to the stability of the country's currency market.No specific timeline for the introduction of controls has been announced yet. However, the Financial Services Commission is expected to focus on discussions regarding stablecoin regulation as part of an upcoming legislative initiative, drawing on the experience of Japan and the European Union.
Binance discovered and requested the return of 1.35 million Solana (SOL) tokens worth $190 million, which FalconX had been holding since 2021 due to an accounting error 🔄
Crypto broker FalconX has been holding 1.35 million Solana (SOL) tokens since 2021 but didn't know who they belonged to. Now that their value has grown to $190 million, it has been revealed that these tokens belong to Binance, the largest cryptocurrency exchange. Binance recently reached out to FalconX to ask for their return.How FalconX lost track of these assets, and why Binance failed to notice for several years, remains unclear. However, this case raises questions about the quality of accounting and control systems in the crypto space.FalconX confirmed the existence of a "reconciliation anomaly" with Solana tokens. When the company reconciled its records with exchanges, clients, and partners, no transactions related to these tokens were found.Binance assured that its clients' funds were never at risk, and if the tokens had not been found, the exchange would have simply written off the loss.