Russian stablecoin usage surged after Ukraine invasion: Report
According to Chainalysis data, Russia’s stablecoin usage has increased since the onset of the war, due partly to ordinary Russian citizens seeking to protect their assets.
Crypto
STEPN to sack 100 staff as players step away from the move-to-earn app
The move-to-earn blockchain game has seen a significant drop in its user base and its rewards token has taken a decline due to the cryptocurrency market conditions.
French police use Twitter crypto sleuth’s research to catch scammers
The alleged fraudsters built a BAYC and MAYC NFT focused website that masqueraded as a service to animate the apes but instead phished victims details to steal their NFTs.
Further BTC mining consolidation as Crusoe acquires peer mining firm
Crusoe Energy Systems has just acquired the operating assets of Great American Mining, a sign that further consolidation could be ahead.
First Mover Asia: How Many Metaverse Users Are There? The Figures Are Debatable and Discouraging
Decentraland and Meta’s Horizon Worlds, among others, say they’re popular, but a deep dive into user data indicates that they’ve yet to catch on; Bitcoin trades up slightly as inflation report nears.
US Judge Allows Crypto Advocates to Join Ooki Defense Against CFTC
A federal judge ruled late Wednesday that LeXpunK Army and the DeFi Education Fund could file friends of the court motions. The crypto advocates want to convince him that the CFTC should identify individual Ooki DAO members, rather than serve them all at once through a website portal.
Blockchain.com gets regulatory nod from Singapore’s central bank
Blockchain.com becomes the second crypto exchange in two days to receive preliminary approval to provide crypto services within the growing crypto hub.
Polygon powers India police complaint portal, battling corruption
The First Information Report (FIR) launched on Polygon allows the citizens of Firozabad to register complaints against the police without worry of it being dismissed or manipulated.
IMF’s Georgieva Warns Central Banks to Hoard Reserves, Follow Fed Hikes
The official’s comments might be relevant to bitcoin traders, since the largest cryptocurrency’s has proven to be correlated with the dollar’s strength in foreign-exchange markets.
Court partially denies Aptos Lab’s motion to dismiss Glazer’s $1 billion lawsuit
Four legal claims were dismissed by the court, while three others were allowed to proceed.
Brazil’s Rio de Janeiro will accept crypto-payments for property taxes
The city will allow taxpayers to make crypto payments through third-party service providers.
Acting CoC Michael Hsu: Crypto is ‘immature,’ but maybe it doesn’t have to go away
The acting U.S. official added nuance to his well known skepticism about the crypto industry, but warns against accommodation, in speeches on risk and regulation.
Many crypto asset activities pose ‘novel risks’ to banks, says Fed vice chair for supervision
Michael Barr suggested financial institutions engage with U.S. regulators to ensure “safe, sound, and legally permissible” activities around use cases of innovative technologies.
Axie Infinity player count falls back to Jan 2021 levels
The numbers represent a 74% decrease from peak levels witnessed just ten months ago.
Market Wrap: Bitcoin Trades Higher Amid Muted Expectations for Next Inflation Reading
Thursday’s Consumer Price Index is widely expected to show inflation still above 8%. Market Wrap is CoinDesk’s daily newsletter diving into what happened in today’s crypto markets.
The SEC was right to whack Kim Kardashian for shilling Ethereum Max
Kim Kardashian disclosed that she was paid for promoting Ethereum Max — but didn’t tell her followers the exact amount. The SEC did the right thing when it fined her for that oversight.
nxyz raises $40M to enable faster blockchain indexing
The Web3 platform will focus on expanding its team globally and onboarding several more blockchains in the upcoming months.
Coinsquare becomes first Canadian crypto exchange to receive IIROC registration
All crypto exchanges must register with IIROC if they want to operate in Canada, and there is currently a backlog of applications.
Damien Hirst burns $10M in art: Nifty Newsletter, Oct 5–11
Racing league Formula One is positioning its brand in Web3 as it files trademark applications for “F1” covering crypto and NFTs.
Canadian Self-Regulatory Agency Approves First Crypto-Native Investment Dealer
Coinsquare has also been granted license to operate as a regulated alternative trading system (ATS), allowing it to match large, illiquid crypto trades between institutional investors.
Bitcoin se aferra a los US$19K y los traders hacen sus apuestas antes de la publicación de inflación
BTC se estabilizó en torno a los US$19.100, mientras que las acciones aumentaron antes de la publicación de los datos de inflación del Índice de Consumo de Precios.
Key US Lawmaker Says Talks Continue Over ‘Ugly Baby’ Bill to Oversee Stablecoins
After months negotiating legislation to establish U.S. oversight, Rep. Patrick McHenry signals the challenges ahead for the effort next year at DC Fintech Week.
Crypto Custodian Copper Raises $196M in Series C Funding Round
The U.K.-based company also reported a loss of $16 million last year, up from $4.1 million in 2020.
Crypto Hacks Fuel Memes of North Korea: Blockchain’s Biggest Baddie
Seemingly every week in crypto yields another multimillion-dollar hack or exploit – and with it, reams of memes about North Korea, the supposed culprit.
Regulators Should Use ‘Range of Options’ in Fintech, Fed’s Barr Says
Sometimes just identifying risks is enough to change risky behavior, Fed Vice Chair for Supervision Michael Barr said at DC Fintech Week.
Google’s Partnership With Coinbase Is ‘Validation’ for the Crypto Industry: Oppenheimer
Owen Lau, senior analyst at investment bank Oppenheimer, joined “All About Bitcoin” to discuss what Google’s partnership with crypto exchange Coinbase could mean for other crypto-native companies.
Mango Markets hacker proposes steep settlement
The Solana DeFi protocol suffered a $117 million exploit on Oct. 11, and the hacker wants 70M USDC in “bug bounty.”
From neglecting security to bad tokenomics, DeFi has played a hand in its own decline
Tokenomics aimed at financing worthless models, rampant hacks, and a lack of real-world utility have played a role in the beleaguered crypto market’s decline.