Get your daily digest of crypto-asset and blockchain-related news – by investigating stories that fly under the radar in today’s crypto news.
- The Financial Sector Regulatory Authority (FINRA), a US brokerage services self-regulatory body, said it was “conducting a targeted review of business practices”. By announcement, it requires companies to provide all retail communications regarding crypto assets distributed between July 1 and September 30 of this year. This includes any written communication (including electronic), adding that “video, social media, mobile apps and websites generally fall into this category of communication”.
- Hong Kong-based crypto services company Genesis block said he would quit over-the-counter (OTC) commercial services because of the risk of contagion from bankruptcy FTX exchange, Reuters reported. “We stopped trading because we don’t know which counterparties would fail next, so we prefer to close all our positions to regain some of our liquidity,” chief executive Wincent Hung said. The company is also asking customers to withdraw their funds and will not be accepting new customers.
- blockchain analytics company Nansen said than FTX and Alameda Search have had close ties (on-chain) from the very beginning, that the initial success of Alameda, FTX and FTT most likely led to an increase in the balance sheet value of Alameda, adding that this high balance sheet value of the positions FTT was likely used as collateral by Alameda to borrow against. “Putting together the pieces of our chain investigation, it was obvious that the Collapse of Luna/Terra revealed a deep flaw between Alameda and FTX’s confused relationship,” the Nansen team wrote. “There were significant outflows of FTT from Alameda to FTX around the Terra-Luna / 3AC situation.”
- Binance has launched a new educational initiative, Academy Courses, where users can learn about crypto and block chain industry by completing courses and quizzes. Users who log into their verified Binance accounts while completing all courses and quizzes in the Beginner Track will qualify to each receive a non-fungible token (NFT) certificate, exchange said.
- Faruk Fatih Özer, the founder of the now defunct Turkish crypto exchange Thodexwill be extradited to Turkey to face charges of fraud and running a criminal organization, aa.com reported. Turkey began the extradition process after his arrest in Albania in August. A red notice was issued for Özer in April 2021 by Interpol.
- The Ukraine FilmFest will take place on November 20 in Los Angeles and November 26 in London as part of the ceremony of President Volodymyr Zelenskyy UNIS24 initiative, and EnoughTea Foundationpartner of the Ministry of Digital Transformation of Ukraine, will facilitate an NFT auction for the purpose of raising funds for humanitarian relief. NFTs will be minted using the Hedera Token Service, said the announcement.
- Gimbal (ADA) developer Emurgo announced plans to issue a USD pegged stablecoin called USDA on the network in early 2023, various news outlets reported. Emurgo said the USDA would be the first blockchain-regulated stablecoin that is backed by fiat currency.
- Blockchain Forensics Society MRT Laboratories announced the launch of beacon networka public-private communication network for Web3 incident response. The press release said that the network will enable reliable communication between law enforcement and Virtual Asset Service Providers (VASPs) directly through the TRM Forensics interface, enabling faster communication during critical situations such as crypto hacks.
- Global Input Output (IOG), one of the manufacturers of gimbalin partnership with the Edinburgh University to develop “the blockchain industry’s first ‘decentralization index’,” reads a press release. The Edinburgh Decentralization Index (EDI) aims to create more transparency by using a research-based methodology to produce a framework that consistently determines the ‘decentralizationlevel of public blockchain projects, he explained.
- BNB Channel has partnered with Amazon Web Services (AWS) and Kyros Ventures to hold a Web3 networking initiative, Web3 Matching in Ho Chi Minh City, Vietnam on December 11. A press release said the initiative would provide networking opportunities for SEA Web3 projects, as well as mentorship on funding, infrastructure, and blockchain. BNB Chain community specialists will mentor projects on topics such as funding, scaling dapps, and go-to-market techniques. The event includes the participation of Binance Labs, Pantera, Capital Mechanism, Animoca Ventures, C2 Enterprises, Newman Capital, ICandy, Group of teachers, GeekCarteland Cydonia Ventures.