Chinese Paper creating NFT Site 📰, Local Web3 help Displaced Citizens 🆘, Fraud Cost $450K 💸
Daily Crypto, Blockchain & Web3 Update 2023-10-10
CRYPTOCURRENCY
Chinese government-owned newspaper to launch NFT platform (2 min read)
China Daily, an English-language newspaper owned by the Publicity Department of the Chinese Communist Party, wants to create its very own metaverse and nonfungible token (NFT) platform.
Local Web3 community launches ‘Crypto Aid Israel’ to help displaced citizens (1 min read)
42Studio, MarketAcross, Collider Ventures, etc. established Crypto Aid Israel to raise funds for displaced Israeli citizens in need of humanitarian aid.
The charity campaign aims to raise funds for humanitarian aid to help civilian Israelis affected by the recent conflict.
Binance users in Hong Kong lose $450K in wave of fraud texts: HK police (3 min read)
11 Hong Kong-based Binance customers were targeted in phishing scams sent via text messages, alarming the police force.
Brazilian securities regulator plans sandbox for tokenization in 2024 (2 min read)
The Comissão de Valores Mobiliários (CVM) of Brazil is planning to start a second regulatory sandbox program in 2024. Brazil's CVM plans to explore a regulatory sandbox for tokenization use cases, starting in 2024.
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Zimbabwe turns gold-backed digital token into payment method (2 min read)
On Oct. 5, the gold-backed digital token called, Zimbabwe Gold (ZiG), officially launched as a payment method. The launch was announced by the Reserve Bank of Zimbabwe (RBZ).
Bitcoin ASIC manufacturer Bitmain pauses employee salary payments: Report (2 min read)
Bitcoin application-specific integrated circuit (ASIC) manufacturer Bitmain has paused employee salary payments for September and beyond.
The firm cited difficulty in achieving “net positive cash flow” in making the decision.
OK Group sunsets ‘Okcoin’ for a global transition to ‘OKX’ (2 min read)
Major cryptocurrency exchange operator OK Group continues to transform its business, rebranding its crypto ventures under the single name “OKX.”
Founded in 2013, Okcoin will have the same name as OK Group’s other crypto venture, OKX, formerly known as OKEx.
Binance tight-lipped on projects funded by $1B crypto recovery fund (2 min read)
Binance-initiated IRI fund has only used around 2.7% of the $1.1 billion dedicated to protecting crypto after the FTX collapse. However, it has not yet clarified who benefitted from this fund.
Ordswap urges users to recover keys after losing control of website (2 min read)
Ordswap, a marketplace that allows users to inscribe, auction, and trade Bitcoin Ordinals, has devised a method for users to retrieve their private keys as it scrambles to regain control of its website domain.
Circle rolls out native USDC tokens on Polygon (2 min read)
US dollar stablecoin issuer Circle has announced that it has begun minting USD Coin (USDC) natively on Ethereum layer 2 scaling protocol Polygon.
Circle taps into Ethereum layer 2 Polygon to provide USDC liquidity directly on the proof-of-stake scaling protocol.
Bitcoiner drops BitVM paper — Bringing Ethereum-like contracts to Bitcoin (4 min read)
A Bitcoin developer has proposed a new way to bring more expressive off-chain smart contracts to Bitcoin without needing a soft fork.
The author of the white paper, Robin Linus, based BitVM’s architecture on Ethereum’s optimistic rollups with fraud proofs and recent Merkle tree developments.
Cyprus to tighten crypto regulations in accordance with FATF (2 min read)
One of the friendliest European jurisdictions for crypto, Cyprus, might bring its industry regulation to tighter standards. According to an Oct. 10 report by the Cyprus Mail, the Cypriot Ministry of Finance intends to amend the existing Prevention and Suppression of Money Laundering and Terrorist Financing Law.
Astrology NFT project Lucky Star Currency rugged for over $1M — CertiK (3 min read)
The astrology-themed nonfungible token (NFT) project Lucky Star Currency (LSC) has performed an exit scam for over $1 million, according to an Oct. 9 report from blockchain security firm CertiK.