Day: March 26, 2023

Coinbase extends request for builders to expand ecosystem via Base Fund

Coinbase’s layer-2 platform, Base, is extending a request for builders to work on a safer DeFi, altcoins, on-chain reputation, and on-chain Limit Order Book(LOB) exchange through its eco-fund. Bringing expansion to Base Base recently announced the launch of the Base Ecosystem Fund, a capital pool for investing in early-stage projects building on its rails. The firm then mentioned that it was considering expanding its space for builders to have more support from its team for further success. Over the last three weeks, the firm added that there was interest from builders, and they…

Where the U.S. Government Went Wrong in Regulating Crypto

As a former public servant, I believe there is a role for the government in overseeing the cryptocurrency industry. However, recent regulatory announcements – including directives from the U.S. Federal Reserve and executive branch designed to debank crypto firms, a pending lawsuit against the largest and most trustworthy U.S. exchange, Coinbase, and increasingly hostile rhetoric from Congress – are far from appropriate. Source

Dwpbank launches wpNex platform for bitcoin trading via affiliated banks

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Deutsche WertpapierService Bank AG has launched the wpNex platform enabling affiliated banks to offer bitcoin (BTC) trading to retail clients. Deutsche WertpapierService Bank AG enables bitcoin trading for banks Deutsche WertpapierService Bank AG (dwpbank), a key German player in the securities exchange controlling more than 5.3m securities accounts, on Mar. 22, launched wpNex. This new platform enables more than 1,200 affiliated banks to allow bitcoin (BTC) trading to their retail clients. Deutsche Wertpapier Service Bank AG (dwpbank) owns approximately 1,200 German banks. dwpbank announced with its new platform, wpNex, which…

Do Kwon to reportedly appeal against court’s decision to extend detention

Following his arrest in Montenegro while attempting to fly using fake documents, Terraform Labs co-founder Do Kwon will reportedly appeal the court’s decision to extend detention time for up to 30 days. A legal representative of Kwon confirmed the appeal against the Montenegrin court’s decision to detain the entrepreneur for longer than usual, according to local media Vijesti. The decision was made after Kwon was caught using fake documents at Podgorica airport while trying to fly to Dubai. Translation from Montenegro Minister of Interior Filip Adzic – “ONE OF THE…

Nasdaq Aims to Launch Crypto Custody Services in Second Quarter – Exchanges Bitcoin News

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Nasdaq intends to launch its custody services for digital assets like bitcoin by the end of this year’s second quarter. The exchange operator is among those traditional financial firms that want to play a role as intermediaries in the crypto sector which saw the collapse of some major players. Stock Exchange Nasdaq Seeks Regulatory Approval as Crypto Custodian U.S. exchange operator Nasdaq plans to launch its own custody services for crypto assets by the end of June. The company moves into the industry in the aftermath of a series of…

Celsius sets end of April as new deadline for proof of claim

After the Customer Contract Decision, the bankruptcy partner at McCarter & English, LLP, David Adler, announced that Celsius is adjusting its timetables. Apr. 28, 2023, is the new cutoff, also called the Bar Date. Because of this amendment, it is now possible for creditors to provide evidence of a claim within the allotted period.  Previously, a court order made it possible for customers of Celsius who had custody accounts to obtain up to 72.5% of their deposited cryptocurrency back. However, Celsius consumers who had Earn accounts and handed over their coins to…

Euler Finance hacker returns ethereum worth $102m

In a surprising turn of events, the exploiter of Euler Finance has reportedly returned 51,000 ether (ETH) to the DeFi lending protocol. According to BlockSec, a blockchain security firm working with Euler Labs, the exploiter has also returned a further 7,737 ETH, bringing the total returned funds to 58,737 ETH. All told, Euler has gotten back ETH worth about $102 million at current rates. It is a remarkable development after the Euler hack on Mar. 13, 2023. The hack was one of the largest flash loan attacks in DeFi history, resulting in…

Fujitsu interested in crypto trading services: trademark application

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Japanese tech giant Fujitsu filed a trademark application with the United States Patent and Trademark Office (USPTO), revealing its intent to offer brokerage services for cryptocurrency trading, among other crypto and non-crypto financial facilities. Fujitsu’s trademark application aims to register a new mark which “consists of the stylized word FUJITSU with a sideways s shaped swirl over the J and I,” as evidenced in the official document filed on March 16. The branding is dedicated to offering financial services, which include acceptance of deposits, financing loans and financial management and…

Regulations Governing Tokenized Deposits and Crypto Assets in South Africa Set to Effect in January 2025 – Africa Bitcoin News

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Regulations governing tokenized deposits and crypto assets are likely to become effective on Jan. 1, 2025, a senior fintech analyst at the South African central bank has revealed. However, according to the analyst, regulators are still trying to understand or learn the risks that come with using distributed ledger technology. Central Bank Considers Appropriateness of Retail CBDC Gerhard van Deventer, a senior fintech analyst at the South African Reserve Bank (SARB) recently disclosed that regulations governing the so-called tokenized deposits and crypto assets are expected to come into effect on…

Tim Draper recommends founders hold ‘at least’ two payrolls ‘worth of cash’ in crypto

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American venture capital investor and entrepreneur Tim Draper advised founders to keep at least two payrolls worth of cash in Bitcoin (BTC) or alternative cryptocurrencies, in response to the uncertainty created by the collapse of Silicon Valley Bank (SVB). In a March 25 report directed at business founders, Tim Draper stated that Bitcoin is a hedge against a “domino run” on the banks and on overbearing government intervention, adding that businesses “can no longer rely” on a single bank or governing body to manage their cash. Some tips for business…