COIN BUREAU NEWSFLASH! – (09/10/22) Here are some of today’s m | Coin Bureau Insider

COIN BUREAU NEWSFLASH! – (09/10/22)
Here are some of today’s most important headlines:

US DOC Agency NIST Explores Security, Safety, and Trust Of Stablecoins

The U.S. Department of Commerce’s National Institute of Standards and Technology (NIST) has released an initial public draft addressing the many security issues related to the design and use of stablecoins.

The report found that the top five stablecoins that retained their peg were USDT, USDC, BUSD, DAI and FRAX. It also noted that these coins represented 87 % of the total top 20 coins market capitalisation. The report also claims that while decentralised finance (DeFi) is typically more vulnerable to security issues due to increasing smart contract code complexity and critical functionality, centralised finance (CeFi) architectures are typically more vulnerable to trust issues due to a greater reliance on human trustworthiness.

https://cointelegraph.com/news/us-doc-agency-nist-explores-security-safety-trust-of-stablecoins

OpenSea CFO Leaves Less Than One Year After Joining

OpenSea CFO Brian Roberts is the latest to join the growing number of crypto executives that have been leaving their positions or exiting the industry. According to a LinkedIn update posted on Friday, Roberts has left the NFT marketplace company less than a year since joining. The update further states that he will remain on as an advisor to the firm.

https://www.theblock.co/post/175758/opensea-cfo-leaves-less-than-one-year-after-joining

Brazillian Police Raid ‘Bitcoin Sheikh’ for Defrauding Victims of $766M

A crypto fraud ring believed to have defrauded investors of up to 4 billion reals ($768 million) through fraudulent crypto products has been dismantled by authorities in the U.S. and Brazil. 100 Brazilian police agents reportedly raided 20 addresses linked to the crypto fraud network controlled by Francisco Valdevino da Silva, aka “Sheikh dos Bitcoins.”

The operation allegedly deceived "thousands of victims" by offering services that promised monthly returns of up to 20% of the amount they invested. Victims of the scam include several domestic celebrities such as Sasha Meneghel, daughter of Brazilian television star Xuxa and several unnamed soccer players.

https://decrypt.co/111454/brazillian-police-raid-bitcoin-sheikh-defrauding-victims-766m

Dapper Labs Restricts Services to Russia Amid EU Sanctions

According to an announcement from Dapper Labs, the NFT collectables giant has cut off payment services for non-fungible token owners with links to Russia. It cited the European Union sanctions as the reason for doing so. Impacted users can still look at their NFTs, but they cannot move funds, gift tokens, sell NFTs or buy new ones.

https://www.coindesk.com/policy/2022/10/07/dapper-labs-restricts-services-to-russia-amid-eu-sanctions/