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2023-02-16 12:58:17 THE LATEST CRYPTO NEWS FROM CNS

Abu Dhabi to back the growth of Web3 startups with $2B

Abu Dhabi's technology ecosystem, Hub71, has announced a new initiative called "Hub71+ Digital Assets," with a capital backing of over US$2 billion. This project aims to advance Web3-based innovations, such as blockchain technology and metaverse applications. The initiative aspires to provide Web3 startups with access to a range of programs, and initiatives, as well as, corporate, government, and investment partners in both global markets and the UAE.

This project aims to advance Web3-based innovations, such as blockchain technology and metaverse applications. It aspires to provide Web3 startups with access to a range of programs, and initiatives, as well as, corporate, government, and investment partners in both global markets and the UAE.

https://cointelegraph.com/news/abu-dhabi-to-back-the-growth-of-web3-startups-with-2b


SEC proposes tougher rules as part of its crypto custody crackdown

A five-member panel of the United States Securities Exchange Commission (SEC) has voted 4-1 in favor of a proposal that may make it more difficult for cryptocurrency firms to serve as digital asset custodians in the future.

The proposal, which is yet to be officially approved by the SEC, recommends amendments to the “2009 Custody Rule” will apply to custodians of “all assets” including cryptocurrencies, according to a Feb. 15 statement from SEC Chairman Gary Gensler.

https://cointelegraph.com/news/sec-proposes-tougher-rules-as-part-of-its-crypto-custody-crackdown


Mango Markets exploiter seeks to keep disputed funds paid as ‘bug bounty’

The alleged exploiter of the decentralized finance protocol Mango Markets, Avraham Eisenberg, is seeking to keep his share of crypto gained from his so-called “highly profitable trading strategy.”

On Feb. 15, attorneys for Eisenberg filed a motion in a New York District Court objecting to a lawsuit from Mango that asks for $47 million in damages plus interest starting from the time of Eisenberg’s October attack, whidrained around $117 million from the protocol.

https://cointelegraph.com/news/mango-markets-exploiter-seeks-to-keep-disputed-funds-paid-as-bug-bounty


EC launches blockchain regulatory sandbox for 20 projects annually through 2026

The European Commission announced the launch of the European Blockchain Regulatory Sandbox on Feb. 15. The sandbox will provide a space for regulatory dialog for 20 projects per year through 2026.

The sandbox was first announced in 2020 and is being facilitated by a number of private firms that won tenders in 2022. Funding will come from the Digital Europe Programme. Projects will be chosen by an independent panel of academic experts on a competitive basis from public and private sector use cases of “Blockchain and other Distributed Ledger Technologies.”

https://cointelegraph.com/news/ec-launches-blockchain-regulatory-sandbox-for-20-projects-annually-through-2026 Open / Comment

2023-02-15 21:29:01 IN 30 MIN WE ARE LIVE

https://www.youtube.com/live/P8n3anyY41M?feature=share Open / Comment

2023-02-15 21:09:34 https://kingsumo.com/g/doaf4r/weekly-altcoin-giveaway-1-winner-x-50-binance-usd-coins-busd-tokens-to-lovely-lucky-people Open / Comment

2023-02-15 15:41:06

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2023-02-15 14:59:23 THE LATEST CRYPTO NEWS FROM CNS

South Korea to examine crypto staking services following the Kraken case

As reported by a local publication on Feb. 15, Korean financial authorities are looking into the staking services market. However, as the unnamed official specified to the journalists:

The fears of the crypto community about the possible repercussions of the recent court deal between the United States Securities and Exchange Commission (SEC) and Kraken are starting to materialize. Following their American counterparts, South Korean regulators intend to examine the crypto-staking operators in the country.

https://cointelegraph.com/news/south-korea-to-examine-crypto-staking-services-following-the-kraken-case


Ethereum supply plunges 37% on crypto exchanges post the Merge upgrade

Ethereum supply plunges 37% on crypto exchanges post the Merge upgrade, the second-largest cryptocurrency by market capitalization, has seen a constant decline in exchange supply over the past six months post-Merge. The Ethereum network underwent a major upgrade in September 2022, moving from a proof-of-work (PoW) to a proof-of-stake (PoS) network in an event called the Merge.

According to on-chain data shared by crypto analytics firm Santiment, the amount of available ETH sitting on exchanges continues to fall. Since the Merge, there is 37% less ETH on exchanges. A constant decline in supply on exchanges is considered a bullish sign, as there is less ETH available to trade or sell.

https://cointelegraph.com/news/ethereum-supply-plunges-37-on-crypto-exchange-post-the-merge-upgrade


Crypto mixer Blender has been rebranded to Sinbad, says Elliptic

Blender, the cryptocurrency mixer sanctioned by the United States Department of the Treasury’s Office of Foreign Assets Control in May, was “highly likely” relaunched as Sinbad, according to risk management firm Elliptic.

In a Feb. 13 report, Elliptic said its analysis of Sinbad indicated that the crypto mixer was likely a rebrand of Blender as well as having “the same individual or group responsible for it.” According to the firm, Sinbad was behind the laundering of roughly $100 million in Bitcoin
BTC for North Korea’s hacking group Lazarus.

https://cointelegraph.com/news/crypto-mixer-blender-has-been-rebranded-to-sinbad-says-ellipticPolygon sets late March launch date for its zkEVM mainnet beta

The long-awaited scaling upgrade from Ethereum layer-2 solution provider Polygon has been announced, with the beta launch of its zero-knowledge Ethereum Virtual Machine (zkEVM) mainnet slated for March 27.

In a Feb. 14 blog post, Polygon said that after three and a half months of “battle testing,” the system will be ready for the mainnet launch next month.

https://cointelegraph.com/news/polygon-tables-late-march-launch-date-for-its-zkevm-mainnet-beta


Siemens issues $64M digital bond on a public blockchain

German engineering and technology giant Siemens has become one of the first companies in Germany to issue a digital bond on a public blockchain. It’s worth 60 million euros ($64 million) and has a maturity of one year, in accordance with Germany’s Electronic Securities Act.

According to the Feb. 14 announcement, the bond was sold directly to investors such as DekaBank, DZ Bank, and Union Investment, without the need for central clearing and paper-based global certificates. Siemens noted that the process enabled transactions to be executed much faster and more efficiently than traditional bond-issuing methods.

https://cointelegraph.com/news/siemens-issues-60m-digital-bond-on-a-public-blockchain Open / Comment

2023-02-14 13:59:33 THE LATEST CRYPTO NEWS FROM CNS

Binance withdrawals and BUSD redemptions surge post Paxos crackdown

Cryptocurrency exchange Binance has seen a surge of withdrawals over the last 24 hours as investors appear to be spooked over recent news of regulatory action against Paxos and its stablecoin Binance USD.

At the same time, the BUSD token has recorded significant redemptions, with 342 million BUSD burned over the last 24 hours according to Peckshield.

https://cointelegraph.com/news/binance-withdrawals-and-busd-redemptions-surge-post-paxos-crackdown


SEC to target crypto firms operating as ‘qualified custodians’

The United States Securities and Exchange Commission (SEC) is reportedly planning to propose new rule changes this week that could impact what services crypto firms can offer their clients.

According to a Feb. 14 report from Bloomberg citing “people familiar with the matter,” the securities regulator is working on a draft proposal that would make it difficult for crypto firms to hold digital assets on their client’s behalf as “qualified custodians.”

This may, in turn, affect the many hedge funds, private equity firms and pension funds that work alongside such crypto firms.

https://cointelegraph.com/news/sec-to-target-crypto-firms-operating-as-qualified-custodians-report


Crypto mixer Blender has been rebranded to Sinbad, says Elliptic

Blender, the cryptocurrency mixer sanctioned by the United States Department of the Treasury’s Office of Foreign Assets Control in May, was “highly likely” relaunched as Sinbad, according to risk management firm Elliptic.

In a Feb. 13 report, Elliptic said its analysis of Sinbad indicated that the crypto mixer was likely a rebrand of Blender as well as having “the same individual or group responsible for it.” According to the firm, Sinbad was behind the laundering of roughly $100 million in Bitcoin
BTC for North Korea’s hacking group Lazarus.

https://cointelegraph.com/news/crypto-mixer-blender-has-been-rebranded-to-sinbad-says-elliptic


Proposed EU parliament rule could have banks apply 1,250% risk weight to crypto exposure

The European Parliament has released a report on a draft bill proposing that banks holding cryptocurrencies set aside a large amount of capital in an effort to address potential risk.

In a Feb. 9 notice, European Union lawmakers said any framework applied to crypto assets should “adequately mitigate the risks of these instruments for the institutions’ financial stability,” proposing banks apply a 1,250% risk weight on their exposure to digital assets — one of the highest risk ratings for investments. The proposed law suggested that such requirements go into effect until Dec. 30, 2024.

https://cointelegraph.com/news/proposed-eu-parliament-rule-could-have-banks-apply-1-250-risk-weight-to-crypto-exposure Open / Comment

2023-02-13 14:23:33 THE LATEST CRYPTO NEWS FROM CNS

Huobi Cloud Wallet no more: Exchange pulls plug on DeFi multi-token wallet

Cryptocurrency exchange Huobi has announced that it will discontinue its Huobi Cloud Wallet platform in May 2023, citing “strategic and product adjustments.“

As per an announcement on Huobi’s support page, maintenance and upgrades of the multi-token wallet service will officially stop on Feb. 13. Users that are still using the cloud wallet are being encouraged to transfer cryptocurrency and nonfungible tokens (NFTs) to their main Huobi accounts or other wallet addresses.

https://cointelegraph.com/news/huobi-cloud-wallet-no-more-exchange-pulls-plug-on-defi-multi-token-wallet


Coinbase will ‘happily defend’ staking in US courts, says CEO

Crypto exchange Coinbase’s executives are standing up for its crypto staking services, claiming they cannot be classified as a security and threatening to bring the matter to the courts in the United States.

Coinbase CEO Brian Armstrong posted on Twitter that the company will “defend this in court if needed.” The move follows the agreement reached by crypto exchange Kraken with the Securities and Exchange Commission on Feb. 10 to stop offering staking services or programs to clients in the country.

https://cointelegraph.com/news/coinbase-will-happily-defend-staking-in-u-s-courts-says-ceo


Crypto bank Silvergate ranks as the second- most-shorted stock on Wall Street

Crypto bank Silvergate Capital Corp. is the second-most-shorted stock in the United States, with over 72.5% of its shares shorted, according to the latest Short Interest Reporting from Feb. 9.

The Financial Industry Regulatory Authority (FINRA) collects and publishes twice a month short interest positions of all equity securities. A short position means investors and traders believe the price of a security, such as a stock, will decrease in value. A short seller profits from the price decline of a security.

https://cointelegraph.com/news/crypto-bank-silvergate-ranks-as-the-second-most-shorted-stock-on-wall-street


OneKey says it has fixed flaw that got its hardware wallet hacked in 1 second

Crypto hardware wallet provider OneKey says it has already addressed a vulnerability in its firmware that allowed one of its hardware wallets to be hacked in one second flat.

A video on YouTube posted on Feb. 10 by cybersecurity startup Unciphered showed they had figured out a way to exploit a “Massive critical vulnerability” that allowed them to “crack open” a OneKey Mini.

https://cointelegraph.com/news/onekey-says-it-s-fixed-the-flaw-that-got-its-hardware-wallet-hacked-in-1-second


SEC’s crypto staking crackdown has uncertain consequences for DeFi: Lido Finance

A crackdown by the United States securities regulator on crypto staking could have unintended consequences for decentralized finance, according to the head of business development at Lido DAO.

Jacob Blish — who leads business development at Lido’s decentralized autonomous organization — told Bloomberg in a Feb. 13 report that the most significant risk would be if the SEC eventually concluded that no U.S. citizen can interact with crypto staking services, including protocols.

https://cointelegraph.com/news/sec-s-crypto-staking-crackdown-has-uncertain-consequences-for-defi-lido-finance Open / Comment

2023-02-11 23:54:05 I always said the future of finance will be build on ethereum!!!


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2023-02-11 23:52:15 https://www.epravda.com.ua/columns/2023/02/9/696874/ Open / Comment

2023-02-10 12:05:55 THE LATEST CRYPTO NEWS FROM CNS

Stablecoin issuer Paxos reportedly probed by New York regulators

Paxos Trust Company — the New York-based stablecoin issuer behind Binance USD (BUSD) and Paxos Dollar (USDP) — is reportedly being investigated by the New York Department of Financial Services (NYDFS).

A “person familiar with the matter” told Bloomberg in a Feb. 10 report that the exact motive behind the probe is currently unclear.

An NYDFS spokesperson declined to comment on ongoing investigations but noted that the department is broadly working to protect consumers from risks associated with investing in the cryptocurrency market

https://cointelegraph.com/news/stablecoin-issuer-paxos-probed-by-new-york-regulators


‘Kraken Down’ — SEC commissioner rebukes own agency over recent action

United States Securities and Exchange Commission (SEC) Commissioner Hester Pierce has publicly rebuked her own agency over the shutdown of crypto exchange Kraken’s crypto staking program in the United States.

The commissioner blasted her agency in a Feb. 9 statement titled “Kraken Down,” arguing that regulation by enforcement “is not an efficient or fair way of regulating” an emerging industry.

https://cointelegraph.com/news/kraken-down-sec-commissioner-rebukes-own-agency-over-recent-action


Rocket Pool’s Ethereum staking service reaches $1B in TVL

According to data from DefiLlama, Ethereum staking service Rocket Pool reached $1 billion in total value locked (TVL) on Feb. 9. The move comes less than two years after the decentralized finance (DeFi) protocol launched its mainnet on Nov. 9, 2021. Dubbed a liquid staking solution for Ethereum, Rocket Pool allows users to join an Ethereum decentralized node operator or run their own node.

Unlike conventional staking solutions, the capital requirements are far less, as users can run their own node with just 16 Ether as opposed to the network specified 32 ETH, with another 16 ETH coming from a pool of users who join a decentralized node operator. For the latter, the deposit requirement is only 0.01 ETH. Depositors receive liquid staking token rETH in exchange for their ETH, which proves the user is entitled to staking rewards over time and accrues yield.

https://cointelegraph.com/news/rocket-pool-s-ethereum-staking-service-reaches-1b-in-tvl


Coincover secures $30M in funding to strengthen digital asset security

London-based digital asset protection firm Coincover has secured $30 million in a funding round led by Foundation Capital with a follow-on investment from CMT Digital.

According to Coincover’s announcement, the funds will be used to scale its operations, drive recruitment, develop new products and form partnerships to help strengthen the security of the cryptocurrency ecosystem, thereby providing even more comprehensive protection to businesses and individuals holding digital assets.

Coincover was founded in 2018 and launched in 2019 with the aim of providing trust to the digital asset industry. The company already works with over 300 businesses, including exchanges, wallets, hedge funds, family offices, banks and a number of digital asset custodians.

https://cointelegraph.com/news/coincover-secures-30-million-in-funding-to-strengthen-digital-asset-security


Bitfarms settles outstanding loan with BlockFi for $7.75M

Bitcoin miner Bitfarms has settled its debt obligations with BlockFi, closing the chapter on its short relationship with the bankrupt cryptocurrency lender.

On Feb. 9, Bitfarms disclosed that it had settled its $21 million debt obligations with BlockFi for a single $7.75 million cash payment. The settlement was reached weeks after Bitfarms warned that it might default on its BlockFi loan.

“Combined with the earlier restructuring and elimination of our capital expenditure obligations in December, this successful negotiation and settlement furthers our initiatives to reduce indebtedness,” said Jeff Lucas, Bitfarms’ chief financial officer.

https://cointelegraph.com/news/bitfarms-settles-outstanding-loan-with-blockfi-for-7-75m Open / Comment