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

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

Uniswap V3 Gets ‘Warped’ Onto StarkNet

Ethereum development company Nethermind has reportedly used its “Warp” project to make a version of decentralised exchange Uniswap available on the Ethereum Layer 2 network StarkNet. Nethermind describes Warp as a "Solidity to Cairo Transpiler" that enables Solidity-based Ethereum projects to migrate their codebase to StarkNet in order to take advantage of lower fees.

Nethermind team lead Jorik Schellekens stated,

"Warp is not about to stop with Uniswap! We will continue working hard on features and repeat this experiment with a few other protocols, bringing new protocols to StarkNet at warp speed."

https://www.theblock.co/post/175800/an-ethereum-team-has-warped-uniswap-onto-starknet

Defi Startup Arch Raises $5 Million To Become The 'Blackrock of Web3'

DeFi startup Arch, a company that aims to become the "BlackRock of web3," has reportedly raised $5 million in a seed round that was led by Digital Currency Group and SoftBank spinoff Upload Ventures. The round also saw participation from other investors such as the venture arm of Latin America blockchain firm Ripio, TechStars and GBV. The funds raised from the round will reportedly be used to tokenise a wider suite of DeFi indices and to develop the platform into a decentralised asset management protocol.

https://www.theblock.co/post/174058/defi-startup-arch-raises-5-million-to-become-the-blackrock-of-web3

Crypto Investment Firm Blockwater Technologies Defaults on DeFi Loan

According to a statement from decentralised lending protocol TrueFi, South Korean blockchain investment firm Blockwater Technologies has defaulted on a $3.4 million loan in BUSD issued by the lending protocol. TrueFi issued a “notice of default” to Blockwater on Oct. 6 and has stated that a “potential court-supervised administrative proceeding” would be the best route to recover funds for stakeholders due to the “complexity around the sudden insolvency” of Blockwater.

https://www.coindesk.com/markets/2022/10/10/crypto-investment-firm-blockwater-technologies-defaults-on-defi-loan/

PayPal Says Policy to Punish Users for Misinformation Was ‘In Error’

Online payment network PayPal has retracted a controversial policy update that could’ve seen users fined $2,500 for spreading “misinformation.” The payment platform claimed that the policy update was published “in error”,

“PayPal is not fining people for misinformation and this language was never intended to be inserted in our policy [...] Our teams are working to correct our policy pages. We’re sorry for the confusion this has caused.”

Crypto believers took the opportunity to reiterate the need for self-custody and decentralisation. Maple Finance co-founder Sid Powell stated,

“PayPal is a good example of why you need to custody your own funds. Your finances used to be decoupled from free speech. Now custodying your own funds is the only way to safeguard that right for yourself.”

https://cointelegraph.com/news/paypal-says-policy-to-punish-users-for-misinformation-was-in-error