TOP STORIES OF THE WEEK
Ethereum developers target March 2023 for Shanghai hard fork
The Defiant
Ethereum developers are targeting March 2023 for the next hard fork, called “Shanghai.” Developers set the tentative March timeline for Shanghai in the All Core Devs meeting on Thursday. The upgrade most prominently will open validator staking withdrawals, a feature that’s been missing since Beacon Chain staking went live in December 2020. Shanghai intends to also include the EVM Object Format (EOF) upgrade if upcoming deadlines can be met. EOF is a set of improvement proposals that allow validating and versioning of EVM bytecode once deployed. Lastly, it was announced that EIP-4844, known as Proto-Danksharding, will be pushed to the subsequent hard fork currently expected next fall.
Chainlink staking is now live, a major step in its new Economics 2.0 plan
The Block
Staking for decentralized oracle network Chainlink is now live on Ethereum, in what Chainlink co-founder Sergey Nazarov claims is one of the most highly anticipated events for its network. Until now, token holders had been limited in how they could put their LINK to work. With staking enabled, holders of LINK can contribute to the network’s security and receive rewards. Chainlink’s first staking pool pulled in ~$170m of LINK, hitting community limits in just two days. Chainlink is the most widely used oracle network in the industry, and oracle networks are critical blockchain infrastructure allowing developers to securely use real-world data in their applications.
SBF says he will testify before US congress on Dec. 13
CryptoSlateDisgraced
FTX founder Sam Bankman-Fried (SBF) changed his stance and said he is willing to testify before the U.S. House Financial Services Committee on December 13th. SBF was initially reluctant to honor the Committee hearing as he claimed to not have enough information on what happened to his firm. Lawmakers, in response, revealed they were willing to subpoena SBF if he would not willingly honor the invitation, and he pivoted his stance shortly after.
FTX founder Sam Bankman-Fried (SBF) changed his stance and said he is willing to testify before the U.S. House Financial Services Committee on December 13th. SBF was initially reluctant to honor the Committee hearing as he claimed to not have enough information on what happened to his firm. Lawmakers, in response, revealed they were willing to subpoena SBF if he would not willingly honor the invitation, and he pivoted his stance shortly after.
Gate.io pledges $100M to revive crypto and rebuild investor confidence
Cointelegraph
In a move to tone down the negative impacts of a bear market and ecosystem collapse, crypto exchange Gate.io launched an industry liquidity support fund with an initial commitment of $100m. With investors moving their funds away from exchanges into self-custody, market liquidity is an immediate threat to struggling crypto businesses. Gate.io’s $100m commitment aims to support companies looking to restrategize and adapt to changing market conditions, allowing them to maintain their focus on their business while being protected from market uncertainties. The announcement noted the funds will be allocated among high-quality projects, market makers, high-frequency traders, and other institutional and HNW clients.
USDC could get access to Fed’s RRP via BlackRock partnership
CryptoSlateThe USDC stablecoin could get indirect access to the Federal Reserve’s reverse repo program (RRP) as BlackRock is set to apply for access. The Circle Reserve Fund is managed by BlackRock, which qualifies Circle as an indirect investor in the government money market fund. Barclays Strategist Joseph Abate wrote that BlackRock plans to use Circle’s Reserve Fund to apply for access to the Federal Reserve’s overnight reverse repurchase facility, which would make “USDC an intriguing non-bank hybrid between an insured deposit and CBDC,” according to Abate.
BITCOIN
ETHEREUM
Bitmex now lets you bet on Ethereum’s daily staking rewards
Vitalik Buterin reveals exciting use cases for Ethereum ecosystem
ALTCOINS
Cosmos’ largest DEX Osmosis launches a stableswap: Exclusive
Nexo Token Up 5% on Ethereum ‘Smart Staking’ Launch
Gnosis Executes Its Own Merge in Shift to PoS in Boost for Staking
Hashflow partners with Wormhole for cheaper cross-chain crypto swaps
Warner Music, Polygon and LGND partner to launch Web3 music platform
Over $30M Pours Into ApeCoin Staking in First Day
SushiSwap proposes to direct 100% of xSUSHI revenue to treasury wallet
Polkadot Projects Forge Alliance to Protect Blockchain From Bad Actors
Aave acquires web3 social gaming app Sonar to expand Lens Protocol
15% of 1inch token supply worth over $100 million to be unlocked on Dec. 30
Avalanche to power Alibaba Cloud’s infrastructure services in Asia
UNI Surges After ‘Fee Switch’ Vote is Proposed
Ankr says no one should trade aBNBc, only LPs ‘caught off guard’ will be compensated
STABLECOINS
Crypto Exchange Coinbase Asks Users to Switch USDT for USDC
Waves-backed stablecoin USDN drops further after regulator warning and exchange delisting
Ampleforth developer debuts Ethereum-based inflation-resistant token
Japan recommends against algorithmic backing in stablecoins
Tether launches CNH₮, a stablecoin pegged to Chinese Yuan
Stablecoin Issuer Circle Cancels Plan to Go Public
CRYPTO ECOSYSTEM
Amber Group’s planned raise halved as it cuts 40% of jobs: Reports
Genesis Client Letter Suggests No Imminent Solution to Withdrawal Freeze
Zodia Custody rolls out service to protect client assets from exchange insolvency
Crypto tax startup Koinly cuts 14% of staff
Nike’s RTFKT unveils web3 sneakers, angers some with U.S.-only drop
Crypto Bank Silvergate Slides Further After Letter from US Sen. Warren
Ledger Taps iPod Creator Tony Fadell for New Crypto Hardware Wallet
ConsenSys Updates Privacy Policy for MetaMask, Infura After Community Pushback
Alchemy Releases Web3 App Store to Streamline Dapp Access
Orthogonal Trading Misses $10M Loan Payment
Silvergate CEO Attempts to Address Concerns in Public Letter
Nexo bows out of US on regulatory uncertainty
SEBA Bank and HashKey target institutional investors in Hong Kong
Novogratz’s Galaxy Digital to acquire Celsius’ GK8 in bankruptcy garage sale
Alameda Research invested $1.15B in crypto miner Genesis Digital: Report
MetaMask Co-Founder Wants to ‘Dump’ Apple, Calls iOS Purchase Tax ‘Abuse’
NFTS / GAMING / METAVERSE
OpenSea Again Changes Course on NFT Royalties After More Creator Pushback
Blur offers some NFT traders 50% refund after ether losses from UI ‘bug’
ImmutableX gaming NFTs now available on Nifty Gateway
Decentraland launches virtual property renting for LAND owners
DJs Steve Aoki and 3LAU Form CryptoPunks Supergroup
Minting of Reddit Avatar Tokens Climbed to Record High Over Weekend
Coca-Cola releases FIFA World Cup NFTs based on heatmaps from matches
Opera Crypto Browser to enable instant NFT minting through launchpad
MINING
Bitcoin miner Marathon won’t bid on bankrupt Compute North’s assets, CEO says
Bitcoin miner Marathon explores Compute North bid: Bloomberg
Kazakhstan’s parliament moves forward on Bitcoin mining legislation
Ukrainian Tailor’s Shop a Front for Illegal Crypto Mining Farm
Bitcoin Miner Marathon Expects to Recover Less Than Half Its Deposit From Bankrupt Compute North
Russia on the Verge of Legalizing Crypto Mining
Bitcoin mining difficulty falls 7.2% in sign unprofitable machines are being unplugged
Kentucky to scrutinize contracts offering cheaper electricity to miners
Bitcoin Miner Riot Switches Mining Pool After Falling Short in November
Mysterious Bitcoin miner shows off oldest signature dated Jan. 2009
Bitcoin’s mining difficulty set for largest single drop of 2022
EXCHANGES
Bybit introduces new KYC requirements for P2P trading, fiat deposits and NFT trades
Crypto exchange Rtcoin not licensed in Germany, BaFin says
Coinbase Revenue Will Be ‘Half or Less’ of Last Year’s: CEO Brian Armstrong
Crypto Options Exchange Deribit Registered Record Trading Volume in November
Binance.US Adds Ethereum to Bitcoin Zero Fee Trading
FTX hires forensics team to find customers’ missing billions: Report
Independent Audit Confirms Binance’s Bitcoin Is More Than Fully Backed
Binance Generates 90% of Revenue From Transaction Fees, Changpeng Zhao Says
Binance Integrates with oneZero to Expand Liquidity Offering
Crypto.com’s CRO Surges as It Launches World Cup NFTs With Coca-Cola
Crypto Exchange Bybit to Lay Off 30% of Its Work Force in ‘Deepening Bear Market’
KuCoin engages auditor Mazars to provide factual findings report
Bitget Shares Proof of Reserves, Launches Merkle Validator
Swyftx cuts 35% of staff as it braces against ‘worst-case scenario’
Gemini Exchange Seeks to Retrieve $900 Million from Crypto Lender Genesis
LedgerX for sale, with interest from Blockchain.com, Gemini, others: Bloomberg
CAPITAL RAISES
Blockstream’s unicorn status in jeopardy as it seeks fresh funding: Bloomberg
Bitwave raises $15 million for crypto-focused tax and accounting platform
INVESTMENT MANAGEMENT
Canada’s Largest Pension Fund No Longer Mulling Crypto Investment: Reuters
Former Binance strategy chief Gin Chao ‘leans in’ to the crypto winter after unveiling new fund with ClearVue Partners
Fir Tree fund sues Grayscale in effort to force changes to Bitcoin Trust
Alameda’s capital portfolio reveals highest token investments in Polygon, Hole, and Port Finance
a16z appoints ex-CFTC commissioner Quintenz head of policy
TRADFI / TECH
Japanese banking giant SMBC trialing soulbound tokens
Signature Bank to Reduce Crypto-Tied Deposits by as Much as $10 Billion
GameStop undertakes a ‘big’ round of layoffs, crypto team reportedly impacted
Goldman Sachs reportedly looking to buy crypto firms after FTX collapse
‘Twitter Coin’ hints unveiled by tech sleuth
CBDC
Australian CBDC receives unexpected interest but could hurt banks: RBA
Nigeria Limits Cash Withdrawals to $45 per Day in CBDC, Digital Banking Push
Report outlines reasons why stakeholders are against CBDC
Central bank plans to make CBDC ‘only legal digital tender’ in Indonesia, says gov
Pakistan launches new laws to expedite CBDC launch by 2025
REGULATORY / COUNTRIES
SEC urges crypto companies to disclose exposure to recent market collapse
UK Includes Crypto Assets in Financial Services Reform Package
EU crypto taxation proposal will target firms all over the world
Hong Kong to subject crypto exchanges to the same laws governing TradFi
South Korea’s Central Bank Wants to Oversee Stablecoins
Crypto consumer protection, proof-of-reserves bills introduced into US Congress
Rep. Torres asks US GAO to investigate SEC ‘failure’ to protect public against FTX
Argentine Government Creates National Blockchain Committee
Court approves issuance of subpoenas to 3AC co-founders
House committee weighing subpoena for Sam Bankman-Fried
Paraguay Lawmakers Shelve Hotly Debated ‘Crypto Law’
Indonesia Payment system digitalization among 2023 economic growth plans
UK set to announce new crypto regulations: FT
FTC Probes ‘Possible Misconduct’ in Cryptocurrency Advertising
U.S. House Committee says SBF has sufficient knowledge to testify
Japanese Government Set to Adopt FATF Crypto AML Guidelines into National Law
Malta Seeks to Remove NFTs From Crypto Law
Chinese court says NFTs are virtual property protected by law
EU financial regulator to address off-shore crypto companies
Ripple files final submission against SEC as landmark case nears end
ENVIRONMENTAL, SOCIAL, GOVERNANCE
ECB official proposes ban on tokens with an ‘excessive ecological footprint’
Iran set to freeze bank accounts of women who refuse to wear a hijab
How Bitcoin Can Help Solar Energy Gain More Traction
Bitcoin Lightning company Strike enables payments to 3 African countries
Jack Dorsey-Backed East African Bitcoin Miner Gridless Raises $2M
Red Cross to reveal prototype for blockchain-based aid distribution project
SURVEYS, HACKS, MISC
Sam Bankman-Fried misses deadline to respond to testimony request, now what?
This DAO is donating 100ETH ($123k) to crypto sleuth ZachXBT
Ankr deploys $15M to make users whole as Helio stablecoin recovers after exploit
North Korea Running ‘Trojan-infested Fake Crypto Exchange,’ Say Experts
GOP Congressman Cawthorn Fined for Promoting ‘Let’s Go Brandon’ Cryptocurrency
FatManTerra alleges Terraform Labs dumped $450M UST over 3 weeks before its collapse
Three Arrows Liquidators Target $30M Yacht in Hunt for Assets
Alameda ex-CEO Caroline Ellison spotted in New York, Twitter users claim
SBF Publicly Punts on U.S. House Hearing Invitation
Legal team for 3AC liquidators blast founders for shifting blame to FTX, media blitz amid bankruptcy
Hacker Mints Six Quadrillion of Ankr’s BNB Staking Tokens
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