Coin Bureau Insider

2022-09-28 14:06:41 COIN BUREAU NEWSFLASH! – (28/09/22)
Here are some of today’s most important headlines:

Christie’s Goes Fully On-Chain with New Ethereum NFT Marketplace

Luxury auction house Christie’s makes history by becoming the first global auction house to host fully on-chain sales, through the launch of its own dedicated NFT “on-chain auction platform” titled “Christie’s 3.0.”

Christie’s has built the platform in collaboration with smart-contract startup Manifold and partnered with blockchain analytics firm Chainalysis and metaverse platform Spatial to create additional functionality for the marketplace. The platform will also provide users with tools for compliance and tax purposes.

https://decrypt.co/110659/christies-goes-fully-on-chain-with-new-ethereum-nft-marketplace

Celsius and FTX US Executives Step Down from Leadership Roles

Yesterday, Alex Mashinsky and Brett Harrison, executives of two of the biggest crypto companies, stepped down from their leadership positions.

Mashinsky, the CEO of crypto lender Celsius Network was the first to announce his resignation. He called his leadership an “increasing distraction” for the company and apologised to customers for the “difficult financial circumstances” the company’s bankruptcy had left them in.

Brett Harrison, the President of FTX US, announced he was stepping down from his position and moving into an advisory role. He will reportedly be replaced by Zach Dexter, head of FTX US Derivatives.

https://www.bloomberg.com/news/articles/2022-09-27/celsius-mashinsky-ftx-us-harrison-departures-jolt-crypto-industry

Nexo Acquires Minority Stake in US Chartered Bank

Crypto lending platform Nexo has reportedly acquired a minority stake in Summit National Bank- a financial institution regulated by the Office of the Comptroller of the Currency (OCC). The deal was reported to be “two years in the making” and was executed by acquiring a stake in Hulett Bancorp, a holding company that owns the federally chartered Summit National Bank.

According to reports, Nexo expects the deal to expand its presence in the U.S. by enabling the firm to offer bank accounts, lending and card services to both retail and institutional clients, along with access to Nexo's crypto services.

Tatiana Metodieva, Nexo's head of corporate finance and investments, stated,

"Nexo is looking to reach new clients and expand its addressable market in the U.S. through new fintech capabilities such as the ones we have the potential to develop with Summit National Bank. We will be unveiling more of our future plans for Nexo’s US expansion in the months to come."

https://cointelegraph.com/news/nexo-acquires-stake-in-us-chartered-bank

MPCH Labs Raises $40M in Series A Funding Round for New Crypto Security Product

Multi-party computation (MPC) developer MPCH Labs has reportedly raised $40 million in a Series A funding round. The funding round was led by Liberty Ventures and saw participation from QCP Capital, Global Coin Research, Polygon Studios, Quantstamp, LedgerPrime, Animoca and others.

The funds will reportedly be used to further develop MPCH Labs’ first product, Fraction, an operating platform that enables institutions to securely safeguard their digital assets by utilising MPCH Labs’ MPC6 engine. The MPC6 engine will create a “user-centric toolkit” and will allow multiple parties to compute in the same wallet without compromising their data.

https://www.theblock.co/post/172841/mpch-labs-raises-40-million-series-a-emerges-from-stealth

Robinhood Releases Beta Version of Web3 Wallet to 10,000 Users

Crypto and stock trading platform Robinhood has announced the release of the beta version of its Web3 wallet titled simply “Robinhood Wallet.” The Polygon-based wallet will now be available to the first 10,000 users who signed up for the testing period in May.

Johann Kerbrat, chief technology officer of Robinhood Crypto, stated,

“Like we did with the stock market, Robinhood Wallet strips away some of the complexities of web3 and DeFi to make crypto more accessible to everyone.” Open / Comment

2022-09-27 17:45:45

Open / Comment

2022-09-27 17:45:37 Hey Guys,

One of the biggest risks to the global economy right now is dollar strength.

That's right, the greenback has been soaring to levels not seen in decades. On the flip side, we are also seeing a massive crash in the value of other currencies such as the Euro, Pound and Yen.

The problem with this sustained dollar strength and foreign currency weakness is that it could supercharge inflation in countries that rely on imports. This could lead to a balance of payments crisis in some of those poorest countries that can least afford it.

It could also lead to a sovereign debt crisis as those countries that issued dollar denominated debt wills struggle to meet their interest obligations.

On top of this, actions by foreign central banks trying to catch up with the Fed are also leading to massive disruptions within those countries themselves.

This is all covered in my latest vid - a deep dive into the ins and outs of DXY's surge.

Enjoy! Open / Comment

2022-09-27 14:02:28 “Roblox is one of the fastest growing and largest platforms in the metaverse, and we know our customers are spending loads of time there. So, we’re focusing on creating new and innovative experiences that excite them, something we’re already doing in the communities where they live, and now, the virtual worlds where they play,”

https://www.theblock.co/post/172853/walmarts-new-roblox-metaverse-tells-kids-where-to-find-all-the-best-toys Open / Comment

2022-09-27 14:02:28 COIN BUREAU NEWSFLASH! – (27/09/22)
Here are some of today’s most important headlines:

New Cosmos White Paper Revamps Cosmos Hub, ATOM Token

Cosmos, the Interoperability-focused blockchain network, has released a new white paper which outlines the new vision for the Cosmos Hub and ATOM token. The white paper lays out a set of proposed changes to the Cosmos Hub that will see it play a central role in interchain security. It also proposes changes to the utility and issuance schedule of ATOM. The proposed changes are expected to be made on-chain on October 3rd.

https://www.coindesk.com/tech/2022/09/26/new-cosmos-white-paper-revamps-cosmos-hub-atom-token/

FTX Wins Auction for Bankrupt Crypto Broker Voyager Digital’s Assets

According to reports, Sam Bankman-Fried’s crypto exchange FTX has won the bidding war to buy the assets of Voyager Digital Ltd. FTX reportedly won with a bid valued at $1.42 billion. The purchase agreement between Voyager and FTX will be presented for approval to the U.S. Bankruptcy Court for the Southern District of New York on Oct. 19, and will also need creditor approval before it can proceed.

https://www.wsj.com/articles/ftx-wins-auction-for-bankrupt-crypto-broker-voyager-digitals-assets-11664263726

California Files Order Against Nexo Interest Account

As part of an ongoing investigation into businesses that offer interest-bearing crypto assets accounts, the California Department of Financial Protection & Innovation (DFPI) has issued a desist and refrain order against crypto lending platform Nexo. DFPI would be taking action against the company alongside regulators from seven other American states. The other participating states are Kentucky, New York, Maryland, Oklahoma, South Carolina, Washington, and Vermont.

https://cointelegraph.com/news/california-files-order-against-nexo-interest-account-says-it-s-8th-state-to-take-action

Do Kwon Says He’s Not Hiding, South Korea Moves to Freeze Bitcoin Tied to Do Kwon

Yesterday, after reports of Interpol issuing a red notice for Do Kwon broke out, Kwon was seen replying to tweets asking for his thoughts on the red notice. He is seen stating,

“I’m writing code in my living room…. I’m making zero effort to hide. I go on walks and malls, no way none of CT hasn’t run into me the past couple weeks.”

In the meanwhile, South Korean Prosecutors have reportedly sent requests to crypto exchanges KuCoin and OKX to freeze a total of 3,313 Bitcoins (~$67 million) that had been moved to the exchanges from a wallet linked to Kwon’s Luna Foundation Guard.

https://www.bloomberg.com/news/articles/2022-09-27/south-korea-seeks-to-freeze-bitcoin-btc-linked-to-do-kwon

Hackers Steal Nearly $1 Million in Crypto From ‘Vanity Address’ Exploit

According to an alert published by blockchain security firm PeckShield, 732 ETH (~$950,000) has been stolen from an Ethereum address created at the vanity wallet address generator called "Profanity". The attacker reportedly moved the funds to crypto mixer Tornado Cash on September 25. This is the latest attack which is linked to vanity addresses generated via Profanity to be reported after the Wintermute hack last week.

https://decrypt.co/110526/hackers-nab-nearly-1-million-crypto-ethereum-vanity-adress-exploit

Walmart's New Roblox Metaverse Tells Kids Where to 'Find All the Best Toys'

Retail giant Walmart has announced the launch of two new experiences titled ‘Walmart Land’ and ‘Walmart’s Universe of Play’ in Roblox. The experiences are expected to allow consumers to experience the metaverse. According to the statement issued by Walmart, Walmart Land will include a virtual merchandise store, while Universe of Play contains various toy worlds and games.

William White, Walmart U.S.’ chief marketing officer, stated, Open / Comment

2022-09-26 17:42:15

Open / Comment

2022-09-26 17:42:08 Hey Guys,

So you know how last Monday I said things in the crypto market will get worse?

Well it looks like that's exactly what happened, and I have a feeling we're likely to have a similar week this week. But first let's get a sense of where we are now.

The Fed raised interest rates. Ethereum miners still holding on to a boat load of ETH. Bitcoin's hash rate continues to climb higher. Energy crisis in Europe is starting to unfold...

well I suppose that explains it all doesn't it? It's like the crash is here already.

In all seriousness, it might be a really rough week, so be sure you've adjusted yourselves accordingly. That means making sure you have enough to cover your wants and needs regardless of the volatility inside and outside of the markets. You have been warned...

Enjoy!! Open / Comment

2022-09-26 14:15:53 Competition Closed! Thanks for your entries, we will be reaching out to the winner soon! Want a FREE Trip to Dubai? That's right folks, team Coin Bureau is going to be at the Future Blockchain Summit in Dubai. This is taking place from the 10th… Open / Comment

2022-09-26 12:56:58 COIN BUREAU NEWSFLASH! – (26/09/22)
Here are some of today’s most important headlines:

CoinFlex’s Restructuring Plan Receives Overwhelming Support from Creditors in Early Voting

CoinFlex’s proposed restructuring plans have received overwhelming backing from creditors in the early hours of voting. After almost 5 hours of voting, the proposal has already received votes from tokens representing nearly 99% of creditor assets.

CoinFlex’s proposed restructuring plan will see creditors own 65% of the company's equity and employees allocated 15% to vest over time in a share option program. While Series A funding round investors will be wiped out, those who took part in the Series B round will remain shareholders.

https://www.theblock.co/post/172709/coinflex-creditors-overwhelmingly-back-restructuring-plan-in-early-voting

Interpol Issues Red Notice for Terra’s Do Kwon

According to South Korea Prosecutors, Interpol has issued a red notice for Do Kwon. The red notice is a request to law enforcement agencies worldwide to locate and arrest Do Kwon. The notice was issued just over a week after South Korean Prosecutors placed the request to Interpol on Sept 19. The request was made after Singaporean authorities stated that Kwon was not residing in the country and South Korean officials had no lead on his whereabouts.

https://www.bloomberg.com/news/articles/2022-09-26/south-korea-says-interpol-issued-red-notice-for-terra-s-do-kwon

Apple’s App Store Wants 30% Cut on NFT sales

According to reports, tech giant Apple is now allowing NFTs to be purchased and sold through apps that are listed on its app store as long as the app pays a 30% standard commission on in-app purchases. This figure is similar to the commission levied by Google Play, the app store for Android. This has led to many NFT marketplaces not allowing users to buy and sell NFTs through the app.

On the matter, Epic Games CEO Tim Sweeney tweeted,

“Now Apple is killing all NFT app businesses it can’t tax, crushing another nascent technology that could rival its grotesquely overpriced in-app payment service. Apple must be stopped.”

https://www.theinformation.com/articles/how-apples-app-store-policies-squeeze-nft-startups

Australian Pilot CBDC Test For eAUD To Commence Mid-2023

The Reserve Bank of Australia (RBA) has released a white paper outlining an elaborate plan for conducting a pilot project for eAUD (Australia’s CBDC). As a result of the collaboration between the RBA and the Digital Finance Cooperative Research Centre (DFCRC) last month, a project to test a general-purpose pilot CBDC was started. The collaboration focused on investigating CBDC use cases for Australia. The white paper released by the RBA states that the report on Australia’s CBDC pilot project is expected to be released in mid-2023.

https://cointelegraph.com/news/australian-pilot-cbdc-test-for-eaud-to-commence-mid-2023-rba-white-paper Open / Comment

2022-09-25 17:20:58

Open / Comment