Day: March 28, 2023

UK Government Suspends Plans to Launch State-Owned NFT

In a statement about reasons for the halt of NFT plans, Chair of the Treasury Select Committee Harriet Baldwin cited the uncertainty across the cryptocurrency sector. The UK Treasury Department has revealed it will no longer be going forward with its initial plans of launching a non-fungible token. According to an April 2022 proposal, which was put forward by then Chancellor of the Exchequer and current prime minister Rishi Sunak, the plans were part of a broader effort to make the UK a global crypto hub. At the time, Coinspeaker…

National Exchanges Reportedly Pause Operations in Venezuela, as Attorney General Confirms Crypto Watchdog Sunacrip Involvement in Oil Sale Schemes – Exchanges Bitcoin News

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National cryptocurrency exchanges have paused their activities in Venezuela according to reports, as the anti-corruption probe on national crypto watchdog Sunacrip and unlawful oil sales continues in the country. Tarek William Saab, attorney general, confirmed the involvement of the institution in a parallel scheme that involved the sale of Venezuelan oil to third parties, mentioning Sunacrip as part of the criminal structure. National Exchanges Pause Operations in Venezuela The “Crypto-PDVSA” anti-corruption probe, named after the state-owned oil company, is still investigating the involvement of Sunacrip, the Venezuelan crypto watchdog, in…

China to upgrade national blockchain standards by 2025

Chinese officials have been actively developing its fintech industry, with a strong focus on blockchain technology, despite their stringent stance on cryptocurrencies. On March 28, the Ministry of Industry and Information Technology (MIIT), a watchdog for the Chinese fintech industry, said it intends to improve standards for its blockchain technology development by the year 2025. The information comes from a draft of its guidelines published on the ministry’s website, which also calls for public opinion on the matter of blockchain development from “all walks of life.” China plans to have…

Binance.US Acquisition of Voyager Digital Halted by Federal Judge

Since the time of the auction and the bidding process, US regulators have expressed a lack of confidence in the sale of the company to Binance. Judge Jennifer Rearden, a new Federal Judge for the US District Court in New York has temporarily halted the proposed sale of Voyager Digital to Binance.US. According to the judgment passed, the proposed $1 billion sale will now only be concluded once a decision has been made concerning the final details of the bankruptcy proceedings. The decision to suspend the completion of the acquisition…

Parts of Twitter Source Code Leaked Online

As per court filing, Twitter has issued a subpoena and asked GitHub to disclose “name(s), address(es), telephone number(s), email address(es), social media profile data, and IP address(es)” linked to the handle behind the source code theft. As per a legal court filing, some parts of Twitter’s source code have been leaked as Elon Musk‘s Twitter is now seeking information about the responsible person. Last week on March 24, Twitter issued a subpoena to the software collaboration platform GitHub for a user identified as “FreeSpeechEnthusiast”. The user had reportedly shared excerpts…

Dev with upgrade key makes platform custodial

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In a new update to the class-action lawsuit against bZX DAO members, a United States district judge ruled that the ability for developers to upgrade a smart contract where the key is in the hands of a single developer makes the arrangement custodial.  On March 27, United States District Judge Larry Alan Burns passed a ruling with regard to the class-action lawsuit against bZx DAO and a few others. While the ruling seemed normal on the surface, Web3 lawyers were able to spot a significant development for decentralized autonomous organizations…

Elon Musk’s Neurotech Company Neuralink Seeks Partner to Begin Human Trials Phase

Neuralink is looking for a partner to conduct human trials for brain implants and has approached a leading neurological treatment centre. Elon Musk‘s brain implant company Neuralink is reportedly searching for a human trials partner and is in talks with several medical centers. Among these is the Arizona-based neurological disease treatment and research organization Barrow Neurological Institute. According to inside sources, Neuralink views Barrow Neurological Institute, one of the US’ biggest neurosurgery centers, as a potential clinical trials partner. Neuralink hopes to test its devices on humans through this potential partnership once…

SBF banned from using online messengers under new bail agreement

The story of FTX founder Sam Bankman-Fried continues to unfold as lawyers and the court continue to argue about SBF’s bail conditions. SBF lawyers have reportedly reached a new bail agreement with the United States prosecutors, allowing him to stay at home while restricting the use of some electronic devices and apps. According to a report by Reuters, the lawyers reached the new agreement on March 27 after a judge brought up the need to send SBF to jail pending trial. The new bail conditions are yet to be approved…

Exploiter of Euler Finance Returns Another $37.1M Worth of ETH and DAI

Over the last week, the attacker of Euler Finance has released a total of $138 million which is 70% of the total amount stolen from the Euler Finance protocol.  Earlier this month, a major decentralized finance (DeFi) hack rocked the crypto market with the hacker stealing nearly $200 million by exploiting the Euler Finance protocol. However, as per the latest development, the hacker has been releasing partial funds. On-chain data shows that on Monday, March 27, the hacker returned an additional $26.5 million worth of Ether (ETH) to the deployer…