COIN BUREAU NEWSFLASH! – (24/09/22) Here are some of today’s m | Coin Bureau Insider

COIN BUREAU NEWSFLASH! – (24/09/22)
Here are some of today’s most important headlines:

Tezos Activates Kathmandu Protocol Upgrade on Its Mainnet

Yesterday, Layer 1 proof-of-stake blockchain Tezos successfully activated an upgrade called Kathmandu at 4:30 p.m. ET. This is the 11th upgrade to the blockchain and has added potential supporting capabilities for off-chain computation via Layer 2 solutions like optimistic roll-ups and a streamlined block validation process. The upgrade also introduced a permanent testnet for experimenting with new features.

https://www.theblock.co/post/172590/tezos-activates-kathmandu-protocol-upgrade-on-its-mainnet

Crypto Exchange Coinbase Sued Over Patent Infringement

Crypto exchange Coinbase has been sued by Veritaseum Capital on claims that Coinbase has infringed on a patent it holds in its blockchain infrastructure services. The lawsuit filed in the Delaware federal court demands that an order prohibiting Coinbase from further infringing on the patent be issued along with providing "at least" $350 million in damages.

https://www.coindesk.com/business/2022/09/23/crypto-exchange-coinbase-sued-over-patent-infringement/

Coinsquare Acquires Publicly Traded Crypto Exchange Coinsmart

On Thursday, Canadian crypto exchange Coinsquare signed a deal to purchase fellow Canadian exchange CoinSmart for a combination of cash and stock at an undisclosed amount. Once the deal becomes final, CoinSmart will hold a roughly 12% ownership stake in Coinsquare on a pro-forma basis.

CoinSmart CEO Justin Hartzman stated,

“With a diversified product suite, exceptional crypto talent, and one of the largest user bases in Canada, the combined company will be well-positioned to pursue its aggressive expansion plans. While the crypto market is in the building phase of its life cycle, this transaction will provide the torque needed to be in a favourable position entering the next bull run."

https://cointelegraph.com/news/coinsquare-acquires-publicly-traded-crypto-exchange-coinsmart

Binance Hires Compliance Chief from Crypto Rival Kraken

Crypto exchange giant Binance has reportedly hired Kraken’s former chief of compliance Steven Christie as the senior vice president of compliance to lead its global compliance team. Christie has been a part of the crypto industry since 2015 and has previously served as the compliance chief at bitcoin custodian Xapo Bank before working with Kraken.

https://www.wsj.com/articles/binance-hires-compliance-chief-from-crypto-rival-kraken-11663925403