Editor's Choice
SEC Appeal Against Ripple Labs: The Future of Crypto Regulation in the U.S. at Risk, XRP Back in Legal Battles ⚖️
Crypto regulation in the U.S. could drastically change in the coming months, with Ripple's case being the focus. On October 2, 2024, the SEC filed a new appeal against Ripple Labs, reigniting debates over the legal status of cryptocurrencies. After the 2023 ruling in favor of Ripple, the appeal could alter the rules for the entire crypto industry.The litigation centers on whether secondary sales of the XRP token are transactions involving securities. The judge previously ruled that XRP is not a security; however, Ripple's primary sales to institutional investors fall under the criteria of an investment contract.If the ruling in favor of Ripple stands, it would weaken the SEC's ability to regulate cryptocurrencies as securities. This case could set an important precedent and influence future regulation of digital assets.
Aptos Labs acquires Japanese NFT provider HashPalette to integrate Japanese businesses into its blockchain ecosystem and expand Web3 innovations 🌐
Aptos Labs announced the acquisition of the Japanese NFT provider HashPalette to strengthen its presence in Asia and integrate Japanese companies into its blockchain ecosystem. After closing the deal with HashPort, HashPalette will become a subsidiary of Aptos Labs, and the Palette Chain blockchain and applications will be migrated to the Aptos network.This acquisition will help Aptos Labs expand cooperation with Japanese businesses and support local NFT developers and creators using advanced blockchain technologies.
Lamborghini and Animoca Brands are launching the Fast ForWorld platform for using Lamborghini digital cars in Web3 games with full NFT support 🚗📈
Lamborghini has teamed up with Animoca Brands to launch its first collection of digital cars on the blockchain. These virtual cars will be integrated into Web3 games. The platform, called "Fast ForWorld," will allow users to buy, sell, and use virtual Lamborghini models in various games from Motorverse.The official release of the first version of the platform is scheduled for November 7, where users will be able to store their collectible digital cars in a special 3D wallet and use them in games. Fast ForWorld will also offer unique interaction opportunities for motorsport fans and Lamborghini enthusiasts.The partnership with Animoca Brands will open new prospects for Lamborghini in the Web3 space, creating a precedent for the integration of digital cars into virtual gaming worlds.
Nibiru Foundation launches Nibiru Ventures to support development on Nibiru Chain blockchain with investments in DeFi and real assets - LayerBank platform with $675M in assets prepares for cross-chain lending launch in 2024 💰
Nibiru Foundation has launched a venture division, Nibiru Ventures, to support development on the Nibiru Chain blockchain. The goal of Nibiru Ventures is to assist decentralized application (dApp) developers and expand the services of the Nibiru ecosystem, said Chief Operating Officer Jonathan Chang.Nibiru Ventures will provide not only funding but also strategic support, helping projects in company building, marketing, fundraising, and technical assistance. The fund plans to invest in early-stage projects, particularly in decentralized finance (DeFi) and real assets.Among Nibiru Ventures' first investments is the LayerBank platform, with $675 million in assets and plans to launch cross-chain lending by the end of 2024.
Hacker attack on WazirX with damage of 2000 crore (about $240 million): Nischal Shetty launches a creditors' committee and receives a four-month court moratorium to restore the exchange 💼🔐
Kraken will stop supporting Monero in the European Economic Area by October 31, 2024, and all assets must be withdrawn by December 31, 2024, otherwise they will be automatically converted into Bitcoin with the distribution of funds until January 6, 2025 💰🔄
ComplyCube and GRVT have joined forces for large-scale user onboarding and to ensure compliance with global crypto regulations on a hybrid derivatives exchange with off-chain order matching and on-chain settlements at 600,000 TPS 🌐🔐
Zeus Network and Sec3 strengthen security for Mainnet Beta: protecting cross-chain infrastructure for Solana and Bitcoin 💼🔒
The FCA fined Starling Bank £29 million for insufficient checks on financial sanctions and risk assessments, including cryptocurrency platforms, after opening 54,000 accounts for 49,000 high-risk clients 🏦
More than 12 crypto companies, including Injective, ZeroLend, Fantom, Sushi, and Yearn Finance, mistakenly hired IT specialists from North Korea, leading to cyberattacks and the funding of the country's nuclear program through the transfer of earned funds to government crypto wallets 💻🔒💰
AFP seized $6.4 million USD in cryptocurrency from the alleged creator of the "Ghost" messenger used for organized crime 💰📱
The Stuttgart Stock Exchange has completed tests of tokenized securities with the participation of six major German banks using a blockchain platform and the Deutsche Bundesbank system for euro settlement through Target 2 🎯
Hacker Evan Frederick Light Pleads Guilty to Stealing More Than $37M in Cryptocurrency Using Cyber Hacking and Laundering Money Through Crypto Mixers and Gambling Sites 💻
Hacker Pleads Guilty to Stealing $37M in CryptocurrencyEvan Frederick Light from Indiana has pleaded guilty to cyber hacking, during which he stole more than $37 million in cryptocurrency from 600 victims. The U.S. Department of Justice stated that Light illegally accessed the servers of an investment company, stole client data, and used it to steal digital assets.To cover his tracks, he laundered the funds through cryptocurrency mixers and gambling sites. Light faces up to 20 years in prison for each charge. The crimes were committed from 2021 to May 2023, and Light acted with an unidentified accomplice.The DOJ noted that it will continue to actively combat cybercrimes despite their complexity.
Leaders of Web3 and Decentralized Finance have addressed Kamala Harris with a request for a meeting to discuss support for innovation in blockchain and cryptocurrencies in the USA 🏦🌐
A letter has been sent to Vice President Kamala Harris from a group of leaders in Web3 and Decentralized Finance (DeFi), asking for a meeting to discuss measures to stimulate innovation in the cryptocurrency and blockchain market in the USA. Signed by more than 20 industry representatives, the letter emphasizes the importance of creating policies that ensure the participation of all groups and strengthen the USA's position in the Web3 sphere.The leaders call for a discussion of regulations that will protect consumers and facilitate access to financial resources, especially for Black, Latino, Asian, and Indigenous communities. They also propose improving conditions for funding Web3 startups, revising business loan programs, and enhancing educational initiatives to prepare the workforce for the digital economy.
Three of Japan's largest banks, MUFG, SMBC, and Mizuho, are launching a test of stablecoins for cross-border payments aimed at reducing costs and speeding up transactions 💰🌐
Three of Japan's largest banks — MUFG, SMBC, and Mizuho — are launching a test to use stablecoins for cross-border transfers. The goal of the project is to increase the speed of transactions and reduce costs compared to traditional banking methods.MUFG is leading this experiment, demonstrating a commitment to implementing technologies for optimizing financial operations. SMBC is applying its technological capabilities to support the project, focusing on improving international payments. Mizuho contributes its expertise in financial inclusion and digital innovations.This test could change the approach to cross-border transactions, reducing their costs and speeding up the process. Success could have global implications for the banking system.
Binance introduces restrictions for Russian users under international sanctions, while continuing to ensure the safety of their digital assets and complying with global requirements 🔒🌍
Binance, the cryptocurrency exchange, announced that it is complying with international sanctions by blocking access for sanctioned Russian individuals and entities. The company emphasized that compliance is a top priority and is focused on maintaining users' trust by investing in protective measures. While Binance still provides limited services to Russian users to safeguard their assets, it is reevaluating its regional operations. The exchange aims to develop industry-leading compliance programs in cooperation with global legislative bodies.
Best news of the last 10 days
After Hurricane Helen: Restoration of 365 MW of power, return to 28 EH/s hashrate, and full operational recovery by October 4, 2024, with the support of affected communities 🌪⚡️
Binance officially enters the Argentine market: users can now fully utilize the cryptocurrency exchange's mobile app and web platform after VASP registration 🪙
Trump launches World Liberty Financial: WLFI token sale is open to accredited investors with a net worth of at least $1 million and an income of at least $200,000 💵
The owner of cryptocurrency ATMs in the United Kingdom, Olumide Osunkoya, has been found guilty of fraud and laundering more than £2.6 million through 11 illegal ATMs without FCA registration. He faces up to 26 years in prison 💰
Japan's new Prime Minister Shigeru Ishiba is implementing blockchain and NFTs for the global revaluation of local assets, including food and tourism, with the support of web3 technologies and cryptocurrency startups 🇯🇵
Japan's new Prime Minister, Shigeru Ishiba, is championing blockchain technology and NFTs to elevate local industries, such as food and tourism, onto the global stage. His pro-blockchain stance aims to drive innovation and sustainability in rural areas through Web3 advancements.Ishiba’s vision aligns with the goals of various crypto advocates who are pushing for broader NFT and DAO integration. He stated that blockchain could enhance the value of traditional local products by leveraging digital technology.Many in Japan's crypto community see Ishiba's appointment as a positive signal for the country's Web3 future. His cabinet could potentially include Masaaki Taira, a key Web3 figure who has advocated for reforming Japan’s crypto tax system and promoting blockchain startups.Meanwhile, Japan’s Financial Services Agency is reviewing cryptocurrency regulations, which may lead to tax reductions on crypto gains, making them more competitive with traditional investments. This review comes as Japan's crypto market shows signs of recovery, with trading volumes rising to nearly $10 billion monthly.
Michael Dell, founder and CEO of the technology company Dell Technologies (DELL), sold 10 million Dell Technologies shares worth $1.22 billion in September, showing interest in artificial intelligence and Bitcoin 📃
Michael Dell, the CEO of Dell Technologies, sold 10 million shares of his company for $1.22 billion at the end of September. This was his second significant stock sale that month, following another 10 million shares sold for $1.17 billion earlier in September. Despite the large sales, Dell still holds over 16.91 million shares worth over $2 billion.The company's stock price has surged by 58.5% this year, largely due to increasing demand for AI hardware. Dell Technologies also recently rejoined the S&P 500. However, the stock sales haven't affected the stock price significantly, with only a slight dip in after-hours trading.Dell sparked curiosity in June when he shared cryptic posts on X, hinting at an interest in Bitcoin. Despite the speculation, Dell Technologies hasn’t added any Bitcoin to its balance sheet, focusing instead on growing its AI and server business.
The Central Bank of Russia will begin investigating cross-border cryptocurrency transfers by residents through banking channels to assess the volume and impact of cryptocurrency operations on the country's financial system 🏦🔍
The Bank of Russia is set to investigate cross-border crypto transfers by residents in Q4 2024 and Q1 2025. This initiative, outlined in its latest oversight program, aims to assess the scale of crypto transactions involving residents. The study will analyze transaction types, counterparties, directions, and the role of banks like Raiffeisenbank, Citibank, and others. The central bank's statistics department will also review the volume of these crypto transfers to gauge their impact on Russia’s financial system.This move aligns with rising crypto adoption in Russia, where nearly 20% of the population has engaged with cryptocurrency. However, despite growing awareness, only a small portion actively uses it for savings or investment. Reports indicate that about 6% of Russians hold crypto, translating to over 9 million people. Additionally, estimates suggest that over 10 million Russians may have crypto wallets with significant holdings.
Pos Indonesia released its first postage stamps with an NFT version, featuring an image of the bird of paradise (Cenderawasih), combining traditional postal services with blockchain technology 📮
Pos Indonesia, the state-owned postal service, recently launched its first NFT postage stamps, blending tradition with blockchain technology. Announced via Instagram, the stamps feature 'Cenderawasih,' or the bird of paradise, with both physical and NFT versions available. The collection will also be released as a booklet. This initiative reflects Indonesia's growing interest in Web3, with financial authorities planning a regulatory sandbox for crypto assets by early 2025 to combat fraud.Although the NFT market has seen a decline, with sales dropping to $296 million in September 2023—an 81% fall from March—Pos Indonesia joins a trend started by countries like the UAE, Austria, and the Netherlands, which have previously introduced NFT stamps to revive interest in stamp collecting.