Day: November 24, 2023

CASPs should work on protocol interoperability, self-hosted wallets

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The European Union’s banking regulator, the European Banking Authority (EBA), wants to update existing Anti-Money Laundering and Combatting the Financing of Terrorism (AML/CFT) rules for crypto providers.  In a consultation paper published on Nov. 24, the EBA explains that current European regulations are no longer sufficient to govern AML/CFT standards compliance among crypto providers. The proposed new industry guidelines are intended to address these issues, and the EBA has given interested parties until Feb. 26, 2024, to comment. In particular, the EBA suggests merging the AML/CFT criteria for payment service…

From Crypto Mogul to Mackerel Trader

Bankman-Fried, who has not yet been sentenced, is awaiting a second trial on charges of campaign finance fraud and bribery of Chinese officials, scheduled for March 28, 2024. Sam Bankman-Fried, the co-founder and former CEO of FTX Derivatives Exchange recently convicted on November 2 for defrauding customers is reportedly adapting to the economic realities of prison life with resilience and resourcefulness. Sam Bankman-Fried Sees Drastic Lifestyle Shift A recent report from the Wall Street Journal reveals that Bankman-Fried, accustomed to the lavish lifestyle of a crypto billionaire with a $30…

Grayscale Bitcoin Trust Could See $2.7B of Outflows if ETF Conversion Is Approved: JPMorgan

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“If this $2.7b exits completely the bitcoin space then such an outflow would of course put severe downward pressure on bitcoin prices,” the authors wrote. “If instead most of this $2.7b shift into other bitcoin instruments such as the newly created spot bitcoin ETFs post SEC approval, which is our best guess, then any negative market impact would be more modest.” Original

Community hails industry milestones, expresses gratitude

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As crypto community members celebrated Thanksgiving, many expressed gratitude for the progress made in the digital asset space over the years.  From comparing price points for Bitcoin (BTC) and Ether (ETH) in 2022 to sharing their Thanksgiving conversations about BTC, crypto users exchanged their musings on X (formerly Twitter) for the holiday. Animoca Brands executive chairman Yat Siu reminded his followers that there is “much to be grateful for.” Siu posted ETH and BTC prices a year ago and compared them with current market prices. The executive also mentioned Web3’s…

Bitcoin, EOS, and BNB prices fall after Binance deal; InQubeta draws investors

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The Binance exchange aims for its native Binance Coin (BNB) to regain favor as a viable crypto investment following the resolution of its legal issues with the U.S. Securities and Exchange Commission (SEC).  The settlement involved Binance CEO Changpeng Zhao pleading guilty to violating U.S. anti-money laundering laws and agreeing to a $4.3 billion settlement, including a $50 million corporate penalty from Zhao’s private funds. The impact of this settlement is debated in crypto.  Meanwhile, Bitcoin (BTC) is stable after rallying, increasing interest in altcoins like InQubeta (QUBE) and EOS. …

Do Kwon extradition approved by Montenegro court

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The saga of Terraform Labs co-founder Do Kwon continues to unfold, with a court in Montenegro approving his extradition to either South Korea or the United States. The High Court of Podgorica has determined the legal requirements for Kwon’s extradition, according to an official statement posted on the court’s website on Nov. 24. As the court approved Kwon’s extradition to either the U.S. or South Korea, the final decision on his extradition will be made by Montenegro’s minister of justice, the announcement notes. Previously, a court in Montenegro sentenced Kwon…

KyberSwap Offers 10% Bounty to Attacker Who Made Off With $50M

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Shiba Inu Community Project Calls Out Founders For Refusing To Burn 103 Trillion SHIB

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Shiba Inu (SHIB) burn tracker, Shibburn, has called out the creator of the meme coin, who goes by the pseudonym “Ryoshi”. The community project seemed to suggest that Ryoshi wasn’t acting in the best interest of the SHIB ecosystem.   How “Ryoshi” Has Hampered SHIB’s Burn Rate In a series of posts on their X (formerly Twitter) platform, Shibburn alleged that the founders of the token haven’t always been honest in their dealings. Specifically, the platform suggested that the founders have forestalled the token’s burn rate by refusing to burn over…

Hong Kong to use AI against superbugs and antibiotic overprescription

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Hong Kong’s Hospital Authority is planning to tackle a noteworthy rise of two superbugs — vancomycin-resistant enterococci and Candida auris — with the help of artificial intelligence (AI).  According to a Nov. 24 South China Morning Post report citing the authority, the increase in the prevalence of multidrug-resistant organisms, or superbugs, on the island occurred due to a redistribution of resources aimed at combating the COVID-19 pandemic over the past three years. Dr. Raymond Lai, the authority’s chief infection control officer, told journalists: “A significant number of isolation wards were…