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2022-09-30 13:23:26 THE LATEST CRYPTO NEWS FROM CNS

OAK Network has won Polkadot Auction #28

Funds Raised: 149 998 DOT ($973 489)
Reward: 1 DOT : 75.5+ OAK
Crowdloan Cap: 150 000 DOT

OAK Network, the Web 3.0 hub for Defi and payment automation, closed a $5.5M Seed round led by Foundation Capital, Greylock, and Hypersphere Ventures. Other notable participants in the funding round include Electric Capital, Monday Capital, GSR, Shima Capital, Blockwall Digital, and angel investors.

https://parachains.info/details/oak_network


Spain's largest telecom brand dives deep into Web3

With crypto adoption moving forward in various parts of the world, Spain continues to encounter major developments in its local blockchain space as its largest telecom services provider dives deeper into Web3 technologies.

Telefónica, the multinational telecom company based in Madrid, Spain, has enabled payments with cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), USD Coin (USDC) and many others on its online tech marketplace called Tu. The firm integrated a crypto payment feature provided by the Spanish crypto exchange Bit2Me to receive crypto in exchange for their tech products. The exchange teased the integration during its Telefónica Metaverse Day event.

https://cointelegraph.com/news/spain-s-largest-telecom-brand-dives-deep-into-web3


Central banks can push DeFi into mainstream: Swiss National Bank official

Central bank digital currencies (CBDC) can work well with decentralized finance (DeFi), and they have a lot of potential to boost DeFi adoption, according to a Swiss central bank official.

Among many various types of digital currencies, it is CBDC that could provide more stability and lower risks to the development of DeFi, according to Thomas Moser, a governing board member at the Swiss National Bank (SNB).

https://cointelegraph.com/news/central-banks-can-push-defi-into-mainstream-swiss-national-bank-official


Meta introduces NFT crossposting and sharing on Instagram

Meta, Facebook and Instagram's parent company, announced another development in its digital arts initiative. As of Sept. 29, all users on both platforms can connect wallets and share nonfungible tokens (NFTs) across 100 countries.

As part of the feature, which has been in testing since May, users will be able to tag creators and collectors, and cross-post digital collectibles between platforms without paying any fees.

https://cointelegraph.com/news/meta-introduces-nft-crossposting-and-sharing-on-instagram


Sam Bankman-Fried reportedly intended to join the Twitter deal in March

Not only Elon Musk thought of buying Twitter — crypto billionaire and CEO of FTX exchange Sam Bankman-Fried “was interested” in acquiring the social network back in March 2022, according to a report from Business Insider.

In the piece, published on Sept. 29, journalists are referring to the private texts released amid the court battle between Musk and Twitter, which had been unwinding after the businessman had suspended the acquisition negotiations in July.

https://cointelegraph.com/news/sam-bankman-fried-reportedly-intended-to-join-the-twitter-deal-in-march Open / Comment

2022-09-29 13:34:14 THE LATEST CRYPTO NEWS FROM CNS

SWIFT partners with Chainlink for cross-chain crypto transfer project

Interbank messaging system SWIFT has partnered with price oracle provider Chainlink to work on a proof-of-concept (PoC) project which would allow traditional finance firms the ability to transact across blockchain networks.

Chainlink co-founder Sergey Nazarov announced the project at its SmartCon 2022 Conference in New York on Sept. 28 alongside SWIFT strategy director Jonathan Ehrenfeld Solé.

https://cointelegraph.com/news/swift-partners-with-chainlink-for-cross-chain-crypto-transfer-project


JPMorgan's CEO feels threatened by disruption in payment systems

JPMorgan Chase's CEO Jamie Dimon feels threatened by how the crypto space is disrupting the payment systems, stated Shark Tank host and multi-millionaire venture capitalist Kevin O’Leary speaking at a Converge22 panel on Sept. 28.

O'Leary made his remarks after Dimon declared himself as a “major skeptic” on “crypto tokens, which you call currency, like Bitcoin,” referring to them as “decentralized Ponzi schemes” in his testimony to the United States Congress last week.

O'Leary explained that friction is one of the major problems in the traditional financial system and that it's how banks profit on transaction fees, adding that stablecoins could lead to a reduction in fees throughout the world.

https://cointelegraph.com/news/jpmorgan-s-ceo-feels-threatened-by-disruption-in-payment-systems-kevin-o-leary


US lawmakers propose amending cybersecurity bill to include crypto firms reporting potential threats

United States Senators Marsha Blackburn and Cynthia Lummis have introduced proposed changes to a 2015 bill that would allow “voluntary information sharing of cyber threat indicators among cryptocurrency companies.”

According to a draft bill on amending the Cybersecurity Information Sharing Act of 2015, Blackburn and Lummis suggested U.S. lawmakers allow companies involved with distributed ledger technology or digital assets to report network damage, data breaches, ransomware attacks and related cybersecurity threats to government officials for possible assistance. Should the bill be signed into law, agencies including the Financial Crimes Enforcement Network and the Cybersecurity and Infrastructure Security Agency would issue policies and procedures for crypto firms facing potential cybersecurity risks.

https://cointelegraph.com/news/us-lawmakers-propose-amending-cybersecurity-bill-to-include-crypto-firms-reporting-potential-threats


CFTC Commissioner Kristin Johnson touts DCCPA bill in market risk advisory meeting

The United States Commodity Futures Trading Commission (CFTC) Market Risk Advisory Committee (MRAC) held its first meeting with its new membership on Sept. 28. In her opening statement, the committee’s sponsor, Commissioner Kristin N. Johnson, ran through a laundry list of issues for consideration, but spent the bulk of her time talking about digital assets.

This is the first MRAC meeting under Johnson’s leadership. She gave a summary of CFTC actions in the crypto space, including the controversial Ooki DAO case, the recent White House Comprehensive Framework for Responsible Development of Digital Assets and the CFTC roundtable on non-intermediation held earlier this year.

https://cointelegraph.com/news/cftc-commissioner-kristin-johnson-touts-dccpa-bill-in-market-risk-advisory-meeting Open / Comment

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2022-09-28 14:15:54 THE LATEST CRYPTO NEWS FROM CNS

Crypto exchange Bitkub targeted by Thai SEC with wash trading claims

Thailand’s largest crypto exchange Bitkub has come under regulatory scrutiny from the country’s Securities and Exchange Commission (SEC) over falsifying and creating artificial trading volume on its platform.

Thai SEC ordered legal action against the crypto exchange and two individuals alleging the crypto platform was involved in wash trading, a process where investors buy and sell the same assets at the same time in order to manipulate the market by inflating volumes.

https://cointelegraph.com/news/crypto-exchange-bitkub-targeted-by-thai-sec-with-wash-trading-claims


FTX reportedly considers bailing out Celsius via asset bid

Crypto exchange FTX, led by crypto billionaire Sam Bankman-Fried (SBF), is reportedly considering bailing out Celsius Network by bidding on the bankrupt lender’s assets. Coincidently, the information came out the same day Alex Mashinsky resigned as the CEO of Celsius.

“I regret that my continued role as CEO has become an increasing distraction, and I am very sorry about the difficult financial circumstances members of our community are facing,” said Mashinsky while explaining his decision. For FTX, acquiring the assets of Celsius would imply the exchange’s intent to save the lending firm, similar to what FTX US did for Voyager by securing the winning bid of approximately $1.4 billion.

https://cointelegraph.com/news/ftx-reportedly-considers-bailing-out-celsius-via-asset-bid


BIS marks CBDC pilot as ‘successful’ with $22M transacted

A multi-jurisdictional central bank digital currency (CBDC) pilot has been marked “successful” by the Bank for International Settlements (BIS) after a month-long test phase that facilitated $22 million worth of real-value cross-border transactions.

The central banks of Hong Kong, Thailand, China and the United Arab Emirates took part in the pilot program along with 20 commercial banks from those regions.

https://cointelegraph.com/news/bis-marks-cbdc-pilot-as-successful-with-22m-transacted


Bitcoin think tank: Reject CBDCs and look to BTC and stablecoins instead

United States think tank Bitcoin Policy Institute is calling for the United States to reject central bank digital currencies (CBDCs) and look to Bitcoin (BTC) and stablecoins as alternatives.

In a white paper shared on Tuesday, authors including Texas Bitcoin Foundation executive director Natalie Smolenski and former Kraken growth lead Dan Held argue that CBDCs would strip the public of financial control, privacy and freedom.

https://cointelegraph.com/news/bitcoin-think-tank-reject-cbdcs-and-look-to-btc-and-stablecoins-instead


FCA green lights Revolut, making no UK crypto firms operating under temporary status

The United Kingdom’s Financial Conduct Authority, or FCA, has added cryptocurrency-friendly payments app Revolut to its list of companies authorized to offer crypto products and services in the country.

In a Monday update to its list of registered crypto asset firms in the U.K., the FCA showed Revolut was in compliance with amended regulations from 2017 on "Money Laundering, Terrorist Financing and Transfer of Funds." The fintech firm joined 37 other companies with the green light to offer crypto services in the country after being granted an extension to operate as a crypto asset firm with temporary registration in March.

https://cointelegraph.com/news/fca-green-lights-revolut-making-no-uk-crypto-firms-operating-under-temporary-status Open / Comment