Crypto LVL

2023-09-27 16:02:17 Mainstream Media Objects to Further Customer Data Redactions in FTX Bankruptcy Case

Prominent media outlets, including Bloomberg, Dow Jones & Company, The New York Times, and The Financial Times, have raised objections to a joint motion by the debtors and the Official Committee of Unsecured Creditors asking for further data redactions in FTX bankruptcy case.

The motion sought authorization to extend the redaction of confidential customer information for an additional 90 days, covering the names, addresses, and email addresses of all of the debtors' customers, including entities and institutional creditors who were also customers.

Media Intervenors expressed their opposition in a court filing, highlighting concerns over the continued redaction of customer data.

They argued that the motion lacked substantial new evidence to support an extension of the redaction deadline. The media outlets emphasized that stating ongoing discussions with third parties as the reason for the extension was insufficient justification. These objections are part of a larger legal battle between the media outlets and FTX Trading Ltd. concerning the redaction of customer names in court filings.

In December 2022, Media Intervenors successfully intervened in the bankruptcy case to oppose the redaction of the FTX creditors' names in court documents. Their intervention was granted by the court. Open / Comment

2023-09-24 16:59:59 Blockbuster Crypto Wall Street Memes Token to List on Binance in 3 Days Claims Source

There are three days to go before Wall Street Memes, one of 2023’s biggest crypto presales, launches on exchanges, and Binance could be among the tier 1 trading venues being targeted.

WSM coin is at the center of a plan to monetize the meme stocks movement and bring that energy to crypto.

With a one million-strong social community of financially switched-on individuals behind it, a community that Elon Musk interacts with, the opportunity to turn investments of hundreds of dollars into millions has been too good to pass up for many.

According to the Wall Street Memes website, in three days, the first tier 1 centralized exchange (CEX) listings will take place, and it is thought that at least two of them are ranked in the top 10 globally.

But today an inside source has let it slip that the world’s largest crypto exchange, Binance, might possibly be listing the coin.

As crypto trading volumes touch multi-year lows, centralized exchanges are competing fiercely for market share. Binance, at one stage, looked like it would be one of the winners of the crypto winter when it grabbed a market share of as much as 65% earlier this year. Open / Comment

2023-09-21 16:01:24 CoinEx to Resume Withdrawals of Certain Cryptos Following Security Breach

Cryptocurrency exchange CoinEx, that fell victim to a hack last week, is set to start its deposit and withdrawal services for major cryptocurrencies including Bitcoin (BTC), Ether (ETH), Tether (USDT) and USD Coin (USDC), from September 21.

Per an official update on Wednesday, CoinEx said that it is working to complete the reconstruction and deployment of the wallet system, along with resuming withdrawals. Furthermore, the exchange is upgrading the deposit addresses for all users. CoinEX warned users of losing tokens if deposited in the old addresses.

“Please DO NOT use any old deposit addresses you may have saved - The old addresses will NO LONGER work and assets sent to them will be permanently lost.”

The exchange temporarily suspended deposit & withdrawal services on September 13, for “added security” and said that it would resume only after a “thorough review.” It further asked users to be patient as there may be a “large number of pending withdrawals” which might take longer than usual to process all withdrawal requests.

“We ensure the new wallet system is stable, and we will gradually resume deposit and withdrawal services for more assets.” Open / Comment

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2023-09-18 16:00:57 US House Financial Services Committee Advances Bill to Block Digital Dollar Launch

The United States House Financial Services Committee is going forward with the legislative measures aimed at controlling the issuance of a digital dollar. Chairman Patrick McHenry recently announced that the Committee has scheduled a markup session for two crucial bills related to the potential digital dollar.

A markup is a pivotal stage where lawmakers discuss the intricate details of a bill before it progresses to the House floor, marking an essential milestone in the legislative process. One of the key bills under consideration is the Digital Dollar Pilot Prevention Act, designated as H.R. 3712.

This legislation, introduced by Representative Alex Mooney in May, seeks to restrict the Federal Reserve from launching pilot programs to test CBDCs without prior approval from Congress.

The move comes in response to recent developments where the Federal Reserve, while not confirming its decision to issue a CBDC, has indicated its readiness to proceed with the issuance only under the framework of an authorizing law.

Despite this cautious stance, the Federal Reserve of San Francisco has been actively recruiting technical experts for a CBDC project, suggesting that the digital dollar remains a topic of serious consideration. Open / Comment

2023-09-15 16:01:53 US Senator Sherrod Brown Urges CFTC, SEC and Treasury Secretary to Enhance Crypto Transparency

The chair of the Senate Banking Committee, Sherrod Brown has urged key federal agencies to use their existing authority to address concerns within the cryptocurrency industry and enhance transparency to protect investors.

Brown sent a letter to three pivotal figures in the U.S. financial landscape: Treasury Secretary Janet Yellen, Securities and Exchange Commission (SEC) Chair Gary Gensler, and Commodity Futures Trading Commission (CFTC) Chair Rostin Behnam.

He emphasized the importance of assessing their current authorities and leveraging them to target deficiencies observed in digital asset tokens and platforms. The letter has more significance given the context that Senator Brown has ultimate power over crypto’s congressional destiny.

The senator's concerns revolve around the lack of self-policing within the cryptocurrency industry, arguing that opacity benefits insiders, sponsors, and executives. He asserted that inadequate disclosures persist because it is more profitable when customers are left in the dark. Open / Comment

2023-09-12 16:01:21 FLOKI Addresses Rumors and Denies Association with PetabyteCapital

FLOKI INU, a popular crypto meme project, addressed users on X about allegations and rumors about its projects and warned the crypto community to beware of anyone using their brand name and reputation to promote any project to them, as it is likely a scam.

FLOKI used their X handle RealFlokiInu to clarify the rumors of PetabyteCapital's association with the project. FLOKI also stated that the project does not have a founder or co-founder.

"We would like to clarify that PetabyteCapital is not and was NEVER a FLOKI co-founder. Floki is a community project in the true sense of the word and has never had a founder or co-founder. "

FLOKI made this announcement following several reports of scam projects and individuals associating themselves with them. The effort was also intensified when they saw some projects claiming to have a FLoKI co-founder to gain trust and hype around their project. Open / Comment

2023-09-09 16:01:58 FBI Identifies North Korean Lazarus Group as Culprit Behind $41 Million Stake Casino Hack

North Korean hackers at the infamous Lazarus Group have by the FBI been identified as responsible for stealing $41 million worth of crypto from the online crypto casino Stake.

The attack, which took place around September 4, drained funds over the blockchain networks Ethereum, BNB Chain (formerly Binance Smart Chain/BSC), Polygon and Bitcoin, the FBI said in a statement published on Wednesday this week.

The statement listed 33 wallet addresses believed to be involved in the attack, and officially attributed it to North Korea’s Lazarus Group (also known as APT38).

Other blockchain security firms followed up, with Beosin estimating the total loss to be around $41.35 million, encompassing $15.7 million on Ethereum, $7.8 million on Polygon, and another $17.8 million from Binance Smart Chain.

The activity sparked widespread concerns across the digital asset community at the time, with many calling it the latest rugpull in the market amid plunging prices. Despite the major loss, services on the casino were resumed later the same day, with Stake simply telling their followers on X that they “apologise for any inconvenience.” Open / Comment

2023-09-06 21:00:42 Blockchain Startup Story Protocol Secures $54 Million Funding Led by Andreessen Horowitz

Story Protocol, a startup that uses blockchain tech to track intellectual property (IP), has secured more than $54 million in funding driven by venture capital giant Andreessen Horowitz (a16z) crypto.

The open-source platform was launched Wednesday and aims to “democratize” IP creation through a worldwide extensible IP vault, a company release noted. Put simply, Story Protocol would simplify the process associated with maintaining IP and address creators’ concerns, particularly around the recent rise in generative AI (artificial intelligence).

“In a world of total abundance catalyzed by generative AI, blockchain technology presents the perfect solution for transparent provenance tracking and fair attribution,” Story Protocol Co-Founder Seung Yoon Lee said in a press release.

Lee noted that the company aims to create a “new era of entrepreneurial creators” by helping existing IP holders to engage audiences and advance their IP.

Furthermore, the platform’s framework manages the entire lifecycle of intellectual property development by enabling features including provenance tracking, licensing and revenue sharing.

The company’s vision is to create, govern, and license intellectual property on-chain, forming an ecosystem of story legos that can be remixed and composed. This approach enables creators to build narrative stories with ownership and incentives. Open / Comment

2023-09-06 18:00:06 GameFi project MetaTrace gave exclusive rights to the MEXC crypto exchange to list the $TRC token!

Date: September 7
Time: 10:00 AM UTC

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