China recognizes virtual assets 🇨🇳, $16M in crypto lost to hacks in August 💸, Bitcoin heads for red September 📈
Daily Crypto, Blockchain & Web3 Update 2023-09-01
CRYPTOCURRENCY
China court declares virtual assets legal properties protected by law: Report (2 min read)
A People’s Court in China published a report on the legality of virtual assets, analyzing the criminal law attributes of these digital assets. The court noted in its report that virtual assets under the current legal policy framework are still legal property and protected by law.
Bitcoin heads for red September, but analysts tip October as ‘days to watch’ (3 min read)
Bitcoin investors may be in for a rollercoaster ride. September is usually a volatile month for Bitcoin, but two ETF analysts recommend that investors focus on mid-October as the next significant day to pay attention to.
Bitwise withdraws Bitcoin and Ether Market Cap ETF application (3 min read)
Bitwise has unexpectedly asked to withdraw its application for the Bitcoin and Ether Market Cap Weight Strategy exchange-traded fund (ETF). They had initially filed the application with the U.S. Securities and Exchange Commission (SEC) on Aug. 3.
Bitcoin traders wipe Grayscale gains after SEC delays spot ETF decisions (2 min read)
In less than a day, Bitcoin has shed nearly all the gains it made from Grayscale Investment's court victory against the United States Securities regulator. BTC price surged and then dropped rapidly in the last three days due to two events affecting pending spot Bitcoin ETF applications.
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Brazilian crypto streamer loses $50K by accidentally exposing private key (3 min read)
Brazilian cryptocurrency streamer Fraternidade Crypto is one of the latest victims of unsafe self-custody practices, reportedly losing thousands of dollars due to a private key accident.
Polygon makes new sidechain developer stack opensource, supporting ZK-powered Layer 2s on Ethereum (3 min read)
The Ethereum ecosystem could welcome a variety of new layer 2 (L2) protocols built on Polygon’s newly open-sourced codebase, Chain Development Kit, which harnesses zero-knowledge proof (ZK-proof) technology to ensure security and fast finality.
StarkWare, Herodotus launch tech to verify data from any point in Ethereum’s history (3 min read)
A new zero-knowledge proof (ZK-proof) technology is set to improve the ability to access and verify historical data from the Ethereum blockchain, with deep chain validation cited as a usability barrier for the network.
Ethereum staking services agree to 22% limit of all validators (3 min read)
Five Ethereum liquid staking providers have set a self-limit rule of not owning more than 22% of the Ethereum staking market. This rule aims to maintain decentralization on the Ethereum network.
Worldcoin signs up over 9K users in Argentina in a single day despite criticism (3 min read)
Human ID project Worldcoin signed up over 9,500 users in Argentina in a single day in August, setting a record for single-day sign-ups. To achieve this feat, facilitators onboarded participants at an average rate of less than nine seconds per person, according to an Aug. 31 announcement from the project.
US, UK intel agencies warn against new crypto malware: Report (2 min read)
US and UK government agencies issued a report advising users to be careful of new malware that targets crypto wallets and exchanges.
Exploits, hacks and scams stole almost $1B in 2023: Report (2 min read)
Malicious actors targeting the crypto space have taken more than $45 million in digital assets from their victims in the month of August alone and a total of $997 million year-to-date (YTD), according to a report shared by the blockchain security firm CertiK.
UK’s Travel Rule comes into effect, could halt certain crypto transfers (2 min read)
Crypto businesses in the UK must now withhold certain crypto transfers according to the new Travel Rule for Crypto, which started on Sept. 1.
$16M in crypto lost to hacks in August: Report (2 min read)
A total of $15.8 million in cryptocurrencies was lost to hacks or exploits in the month of August. Four security incidents took place on Coinbase's layer-2 solution, Base, shortly after its launch.
OKX plans to enter India, hire local employees for Web3 exploration (3 min read)
Cryptocurrency exchange OKX is looking to enter the Indian market and hire local employees to expand Web3 application opportunities, according to a report from CoinDesk.
Oprah and The Rock collect crypto donations for Maui wildfire victims (3 min read)
Celebrities Oprah Winfrey and Dwayne "The Rock" Johnson are accepting cryptocurrency donations for a relief fund supporting the Maui community. The crypto community has come together to show their support.