Weekly Crypto News Recap - September 22, 2023

September 22, 2023



TOP STORIES OF THE WEEK

Binance, U.S. Affiliate, Changpeng 'CZ' Zhao File to Dismiss SEC Lawsuit

CoinDesk
 The SEC sued Binance, Changpeng "CZ" Zhao, and Binance.US in June, alleging they illegally listed unregistered securities in the form of several cryptocurrencies for trading and investment by U.S. investors, but the accused parties filed to dismiss the lawsuit on Thursday, claiming the regulator hadn't "plausibly alleged" various securities-related violations, and that it was seeking to encompass digital assets under its authority despite Congress not explicitly spelling that out in legislation.

Mt. Gox Bitcoin repayment: The day that never comes

Cointelegraph

Judge Denies SEC’s Request To Access Binance.US Tech Stack

Crypto Briefing

Banking Giant Citigroup Launches Private Blockchain To Transform Client Deposits Into Digital Tokens: Report

The Daily Hodl
Financial services and banking giant Citigroup is reportedly launching a unique private blockchain for its clients. According to a new Bloomberg report, Citigroup has unveiled Citi Token Services, a product aimed at tokenizing client deposits to improve cash management and trade-finance capabilities. The so-called “tokenized deposits” represent bank claims and are instantaneously transferrable on the blockchain.

Nouns Fork: Disgruntled NFT Holders Exit With $27 Million From Treasury

Decrypt
The community of NFT holders in prominent Ethereum collection Nouns fractured into two when a proposed fork from the project was completed. The owners of 472 total Nouns NFTs—out of 846 in total, or almost 56% of the collection—joined the fork, and took almost 16,757 ETH ($27.3 million worth at present) with them from the current Nouns DAO treasury into a new DAO organization. As a result of the fork, the owners’ original NFTs will be returned to the DAO treasury and each holder will be issued a replacement NFT with identical artwork for the new DAO. The new DAO will let holders “ragequit” and take their share of the treasury after forfeiting their NFT for good. Overall, the move signals a lack of confidence in the original Nouns DAO format.

BITCOIN

Nic Carter doubles down on theory Bitcoin was invented by NSA Friend.tech look-alike ‘Alpha’ emerges on Bitcoin network Bitcoin Tumbles to $26.9K on Hawkish Remarks by Federal Reserve's Powell Bitcoiners stack ’em up: Inactive BTC supply hits all-time highs Bitcoin Ordinals creator proposes to change inscription numbering system Record-breaking increase in Bitcoin hash rate boosts network difficulty BRC-20 developer Domo praises tokens for 6% of Bitcoin activity milestone

ETHEREUM

‘End of an era’ — Consensys sunsets Truffle, Ganache amid shift to MetaMask Snaps Ethereum Devs Put Forth ERC-7512 Standard to Represent Audit Reports On-Chain Understanding the Economics of Ethereum Layer 2s Ethereum ICO Participant Moves $9,960,000 Worth of ETH to Crypto Exchange Kraken: On-Chain Data Ethereum’s New Holesky Testnet Delayed After Launch Failure One Year After The Merge: ETH Supply Shrinks But Challenges Remain Canto, Astar blockchains plan expansion to Ethereum ecosystem as layer 2s Coinbase’s Base Beats Ethereum in Daily Transactions Crypto Whale Trades $150M in ETH Call Options, Trading Data Tracker Shows Idealistic Ethereum community-built zkEVM Scroll launching in weeks

ALTCOINS

Trading Volume On Social App PostTech Crosses $5M Bitcoin Crash to $8,200 in 2021 Finally Linked to SBF’s Alameda PancakeSwap integrates Transak for fiat onboarding on multiple chains Polygon Emerges as Suitor for Celo’s New Layer-2 Blockchain, Competing With OP Stack Chainlink hits Ethereum layer-2 Arbitrum for cross-chain DApp development ETH developer programs AI-generated memecoin AstroPepeX using ChatGPT LayerZero Leaves Decentralization for Google Cloud Toncoin Surges Into Top 10 Cryptocurrencies, Briefly Topping Dogecoin 'We Can't Build Something Like This on Ethereum,' Says DYdX Founder as Mainnet Nears Arbitrum Blockchain Traders Can Now Protect Against 'Impermanent Loss' Rollbit Coin Tumbles 5% as Crypto Influencer Gainzy Swaps Sponsorship to Stake Dexalot Unveils SimpleSwap and SimpleView Features for Enhanced User Experience OPNX’s $30M Hodlnaut bid rejected as FLEX token plummets 90%: Report Optimism Quietly Rolls Out Third Community Airdrop New Avalanche Dapp Lets Traders Swap Hundreds of Different Tokens in Single Transaction

STABLECOINS

Prisma Finance Pulls In $30M With LST-backed mkUSD Stablecoin Tether brushes off concerns over restarting controversial USDT short-term loan services Binance Warns of Multiple Stablecoin Delistings as Lawyers Puzzle Over EU's MiCA PayPal’s Stablecoin PYUSD is Available on Venmo to Select Users Tether acquires 20% stake in German Bitcoin miner Northern Data in unusual equity deal: Report Circle launches USDC stablecoin on Polkadot Asset Hub Tether authorizes $1B USDT to ‘replenish’ Tron network PayPal Shares First PYUSD Report as Stablecoin Market Fades to $131 Billion Second-Largest Stablecoin USDC Launches on Ethereum (ETH) Competitor NEAR Protocol (NEAR) Tether denies affiliation with Justin Sun-linked stUSDT protocol

CRYPTO ECOSYSTEM

‘You Can Do Nothing’: Crypto Trading Titans Are Yelling at Each Other on Elon Musk’s X a16z suggests Machiavelli to fix decentralized governance Galaxy Digital Eyes European Expansion With New Regional CEO Grab Launches Web3 Wallet For Singaporean Users Evmos, Swing, Tashi, Wormhole team up to solve Cosmos’ liquidity issues Wormhole integrates native USDC transfers for four blockchain networks Decrypt’s 1000x Launches First-of-its-Kind Affiliate Program for Degens Base On-Chain Assets Surpass Solana as Friend.tech, DeFi Activity Surge Bitbuy enters strategic partnership with Canadian crypto ATM firm Localcoin Base Network hits almost 2M transactions in a day, still trails Polygon, BSC Polkadot community PolkaWorld halts operations after failed funding bid DJ 3LAU causes a stir after opting out of Friend.tech over regulatory risks Coinbase CEO stands up for DeFi, Polygon says $1B ZK-rollup paying off: Finance Redefined Crypto Exchange BTSE Launches Crypto-to-Fiat International Mastercard – Here’s What You Need to Know

NFTS / GAMING / METAVERSE

'Bottle Shock' Film Director Plots Animated Musical Remake—Funded by NFTs
Major League Baseball Is Hosting Its First Live Game in a Virtual Stadium
OpenSea, Rarible, and more NFT marketplaces restrict Stoner Cats following SEC action
friend.tech Trading Volumes Cross $220M
Animoca Brands Subsidiary to Launch Unique Bitcoin Metaverse Token
Magic Eden integrates Solana’s compressed NFTs into marketplace

MINING

Bitcoin’s Sustainable Energy Mix Over 50%, Carbon Footprint Compares Better Than Other Industries: Bloomberg Report
Chilean Drug Trafficking Ring Was Also Mining Bitcoin: Report
Chamber of Digital Commerce launches Digital Power Network miners’ coalition
Hut 8 receives green light from Canadian Supreme Court for USBTC merger
Celsius and Core Scientific Reach $45 Million Settlement Deal Following Mining Facility Dispute

EXCHANGES

Crypto’s Lehman moment: Investors buy $250M of FTX claims — Report
eToro Expands EU Presence: Gains CySEC Crypto License
Binance CEO Denies Receiving $250M Loan from BAM Management, Says it is "the Other Way Around"
OKX Achieves SOC 2 Type II Certification, Demonstrating Its Industry-Leading User Safety, Security and Compliance Standards
CoinEx resumes services post-$27M security breach, warns against using old addresses
EU Users of Binance: Paysafe Blocks Withdrawals ahead of Service Termination
CZ Denies Binance.US Used Ceffu or Binance Custody in Apparent Contradiction
FTX’s Crypto Liquidation Sales Unlikely to Cause Market Shock: Coinbase
CZ says Binance.US needed new leadership amid ‘hostile’ regulatory environment
Coinbase Earned $1M Amid Hack, but Hasn't Reimbursed Victims

CAPITAL RAISES

Tim Draper Launches Crypto Accelerator Despite US Regulatory 'Shitshow,' Says Partner
Web3 Innovators Get a Boost with Consensys' $1.5 Million Fellowship Program
DraftKings' Billionaire-Backed Crypto Analytics Firm CoinScan Raises $6.3M
a16z Crypto Leads $3.6 Million Seed Round for Decentralized Information Exchange Protocol Freatic – What Does It Do?
Former Andreessen Horowitz execs launch Bastion after $25M funding round
Nvidia AI partner Databricks raises $500M to achieve $43B valuation

INVESTMENT MANAGEMENT

Grayscale officially abandons post-Merge PoW Ethereum tokens
Grayscale applies for new Ethereum futures ETF
Crypto Investment Products See Continuous Outflows, Nearing $500 Million in Nine Weeks
Nomura's Laser Digital Starts 'Bitcoin Adoption Fund' for Institutional Investors
Sino Global, Coinbase and Libra Alums Start $60 Million Web3 Fund
Blockchain Capital closes funds totaling $580M for investments in crypto gaming, DeFi
What I Learned Managing a Crypto Fund for Five Years
Cardano, Solana and XRP See Institutional Inflows While Bitcoin and Ethereum Investments Slide: CoinShares
Ant Group Reportedly Plans Withdrawal from $100 Million Crypto Venture A&T Capital

TRADFI / TECH

Nirvana Bassist Says AI Could Help Complete Old Demo Songs
Microsoft unveils AI-powered Copilot for Windows 11
X CEO confirms forthcoming in-app payment features
Brain Implant Testing: Neuralink Begins Recruiting for Human Thought-Reading Trials
Microsoft Plans Expand Support for Crypto Wallets Across Next Generation of Hardware Products, Documents Suggest
New DALL-E 3 Image Generator is a Big Upgrade—With Guardrails
Apple, Goldman Sachs drop plans for trading app: Report
Google expands Bard to connect with several of its other services
Bidding War: Scaramucci's SkyBridge Capital Competes for Silicon Valley Bank's VC Unit
Google Gemini Poised to Take On AI Titans OpenAI and Microsoft

CBDC

Chinese Banks, Firms Make Digital Yuan Smart Contract Progress
International financial group finds gaps in digital euro legislative package
U.S. CBDC Efforts Opposed in Legislation Advanced by House Republicans
Almost 490,000 Vendors in China’s Changsha Accept Digital Yuan Payments
Kazakhstan establishes regulatory agency to implement CBDC
CBDC Pilots Now Being Tested by Three Central Banks, According to SWIFT

REGULATORY / COUNTRIES

US SEC Seeks Public Comments on ARK & VanEck's Spot Ethereum ETFs
India to develop dark net monitoring tool to combat crypto fraud: Report
South Korean’s Busan to Launch Digital Assets Trading Platform ‘This Year’
Former FCA Chair Reveals Pressure to Approve Crypto Firms Facing U.S. Investigations
California Revisits Stringent Licensing for Crypto Businesses with New Bill AB 39 – Here's What You Need to Know
Union Bank of the Philippines Secures Central Bank License to Offer Crypto Trading
BaFin Doubles Crypto Regulatory Activities in 2023, Eyes AI
Crypto payment firm Alchemy Pay wins money transmitter license in US
US House Committee Passes Bill to Block Digital Dollar Launch
US Presidential Hopeful Ramaswamy to Release “Comprehensive Crypto Policy Framework” Before Thanksgiving
Brazilian lawmakers seek to add crypto to debtors’ protected assets list
XRP Attorney Addresses New York's Delisting of Ripple and Dogecoin, Denies Political Intentions
German crypto regulator calls for global rules to also govern niche finance centers
Debanking Row Revived By UK Regulator Review
UK House of Lords passes bill to seize stolen crypto
Hong Kong to tighten crypto regulation in wake of JPEX fraud case
Hong Kong Regulator Hosts Top Ethereum Researcher Justin Drake, Asks Him to Extend Invitation to Buterin
Binance Is Supposedly Separate From Crypto Custodian Ceffu. The SEC Has Questions
Europol Warns of DeFi and NFT Crimes in EU, Applauds Blockchain Technology
New York Regulator Seeks Tougher Norms for Adding, De-Listing Crypto Coins
Taiwan Calls El Salvador Authorities to Establish Virtual Assets Bureau For Enhanced Crypto Regulations
Malta Seeks to Change Its Crypto Rulebook to Get Ready for MiCA
Elizabeth Warren's Digital Asset Anti-Money Laundering Act Gets Nine New Sponsors
South Korea focuses on OTC crypto regulations as unlawful deals reach $4B
Hong Kong central bank warns against crypto firms using banking terms
SEC to Unseal Documents in Legal Case Against Binance US – Here's the Latest
US Commodities Regulator Shouldn’t Launch Enforcement Actions Against DeFi Protocols, Says Coinbase CEO

SURVEYS, HACKS, MISC

Yield Platform Freeway Misused $160 Million in Customer Funds, Court Filing Says
FTX Files $157 Million Lawsuit Against Ex-Employees of Hong Kong Affiliate
Nansen Warns Of Potential Phishing Attacks Following Vendor Security Incident Exposing Customer Data
Insider Trading Ahead of Cisco’s $28 Billion Splunk Acquisition?
Judge Blocks Sam Bankman-Fried's Proposed Witnesses From Testifying
U.S. Treasury yields surge to multi-year highs
Bitcoin Pioneer Hal Finney Explains ZK Proofs in Rediscovered Footage
Balancer calls .fi domains unsafe after regaining access to front end
Crypto Whale Duped for $4.5 Million in a Phishing Attack
Former Deutsche Bank Executive Faces 30 Years in Prison for Crypto Fraud: DOJ
Scammers are Targeting Decrypt Readers With Fake 'Token Swap' Emails
Stanford to return millions in FTX donations amid lawsuit alleging misuse by SBF’s parents
Bitcoin.org's Anon Operator Denied Anonymity in Legal Battle Against Craig Wright
Criminals more reliant on cross-chain bridges than ever after mixer crackdowns
Hackers Compromise Balancer Website In Ongoing Exploit
Unexpected inflation surge in Canada propels 10-year treasury yield to new highs
CoinEx hack: Compromised private keys led to $70M theft
OneCoin Lawyer Involved In Laundering $400 Million Denied Fresh Trial
FTX Sues Sam Bankman-Fried's Parents, Aims to Recover "Millions of Dollars"
New Google cloud sync feature implicated in $15M crypto heist at Ripple-owned Fortress Trust
FTX Case: Trevor Lawrence and Influencers Settle Lawsuit
Hong Kong social media star arrested for promoting controversial JPEX crypto platform
Prosecutors Say SBF’s Lawyers Are Trying to Taint Juror Pool
Billionaire Mark Cuban Loses $870,000 In Crypto Scam
North Korean Hackers Tapping Russian Crypto Exchanges To Funnel Illicit Digital Assets, According to Chainalysis
Gemini legal team accuses DCG of ‘gaslighting’ Genesis creditors
New Report: Sam Bankman-Fried's Father Played a Key Role in FTX's Cryptocurrency and Legal Defense





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