Coinbase's payment license in Singapore 🇸🇬, Bitfarms mines faster ⏩, Friend.tech's revenue exceeds 10,000 ETH 💰
Daily Crypto, Blockchain & Web3 Update 2023-10-02
CRYPTOCURRENCY
Coinbase crypto exchange obtains payment license in Singapore (3 min read)
United States-based cryptocurrency exchange Coinbase is expanding operations in Singapore after securing major regulatory approval from the country’s central bank. The new MPI license comes one year after Coinbase’s initial in-principle approval in Singapore, enabling it to expand digital payment token services.
Is ‘Uptober’ here? Bitcoin, Ethereum suddenly pump, wiping $70M in shorts (3 min read)
Over $70 million in crypto shorts were liquidated when the price of Bitcoin, Ether, and other cryptocurrencies unexpectedly increased on October 1st. The price of Bitcoin and Ethereum surged nearly 4% in just a 15-minute window, sparking bullish predictions for the month of October.
Swiss bank UBS launches tokenized money market fund on Ethereum (2 min read)
UBS, a major Swiss bank, has started a live pilot of a tokenized version of its variable capital company (VCC) fund. This initiative is part of Project Guardian, led by Singapore's central bank.
Q3 2023 crowned most ‘damaging’ quarter for crypto amid $700M losses: Report (2 min read)
The third quarter of 2023 has been the “most financially damaging” quarter of the year, with almost $700 million in digital assets lost to various security incidents, according to the quarterly report of blockchain security firm CertiK.
QUICK LINKS
Crypto firms beware: Lazarus’ new malware can now bypass detection (3 min read)
The Lazarus Group, a hacking group from North Korea, is using a new and sophisticated type of malware for their fake employment scams. This malware is more difficult to detect than their previous version, according to researchers.
IMF working paper proposes country-level assessment matrix for crypto risks (3 min read)
A working paper published by the International Monetary Fund (IMF) proposed a count of vulnerabilities and potential policy responses for the crypto sector. The matrix aims to identify potential risks associated with the crypto space and policy responses for regulators.
VC Roundup: Investors eye blockchain analytics, gaming and crypto privacy (5 min read)
Crypto startups keep raising capital despite tight liquidity and adverse macroeconomic conditions. In September, important things happened in space. Amitt Mahajan, co-creator of Farmville, raised $33 million to create Web3 games. Animoca Brands also revealed that they acquired $20 million in capital to advance the development of their Mocaverse platform.
Bitfarms increases mining pace, generates 411 BTC in September (3 min read)
The Canadian Bitcoin mining firm Bitfarms has been actively scaling operations, significantly increasing the amount of mined BTC last month.
Friend.tech revenue surges over 10,000 ETH, TVL tops 30,000 ETH (2 min read)
Decentralized social media platform Friend.tech, based on Coinbase’s layer-2 protocol, Base, has touched new heights in terms of revenue growth and total value locked on its platform.
Grayscale submits SEC filing to convert Ethereum Trust to spot ETF (2 min read)
Grayscale Investments wants to change its Grayscale Ethereum Trust into a spot Ether ETF, after the first Ether futures ETF was approved.
Tokenization is “securitization done on steroids” — Franklin Templeton CEO (3 min read)
Jenny Johnson, CEO of Franklin Templeton, believes that securitization, which has a history of over 50 years, is undergoing a significant transformation.
September becomes the biggest month for crypto exploits in 2023: CertiK (2 min read)
September has officially become the worst month in 2023 (so far) for crypto-related exploits — with a whopping $329.8 million in crypto stolen.