Pay gas fees with Visa card 💳, Chinese police to curb crypto 👮🏼♂️, Coinbase layer-2 hits 136,000 DAU 👥
Daily Crypto, Blockchain & Web3 Update 2023-08-11
CRYPTOCURRENCY
Visa explores crypto gas fees payments through cards (3 min read)
Visa, the payments’ solution provider, is testing a new solution that allows users to pay on-chain gas fees with a Visa card.
Visa’s innovative solution employs Ethereum’s ERC-4337 standard and the “Paymaster” smart contract, enabling off-chain gas fee settlement.
Newly discovered Bitcoin wallet loophole let hackers steal $900K, SlowMist (3 min read)
A vulnerability in the Libbitcoin Explorer 3.x library led to over $900,000 being stolen from Bitcoin users. The vulnerability can also affect users of Ethereum, Ripple, Dogecoin, Solana, Litecoin, Bitcoin Cash and Zcash who use Libbitcoin to generate accounts.
Binance applies for Taiwan AML compliance: Report (3 min read)
Binance, the top cryptocurrency exchange, has reportedly requested registration in Taiwan under the Money Laundering Control Act and the Financial Supervisory Commission (FSC).
Bitcoin ETFs to push US slice of crypto ETF trading volume to 99.5%, Analyst (3 min read)
Bloomberg ETF analyst says the US could account for 99.5% of global trading volume for crypto ETFs if spot Bitcoin ETFs are approved.
Currently, North America accounts for 97.7% of all crypto ETF trading volume, Bloomberg senior ETF analyst Eric Balchunas revealed in an Aug. 10 X (Twitter) post.
BUSINESS
XRP briefly hits $50 on Gemini as users suspect relisting 'price glitch' (2 min read)
Users have spotted unusual prices for Ripple's XRP token on the Gemini crypto exchange shortly after the token was relisted for deposits and trading. XRP has been wildly fluctuating on the Gemini crypto exchange since its relisting.
Robinhood beats investors’ appeal in GameStop meme stock case (2 min read)
The appeals court judge said Robinhood had the right to impose restrictions on meme trade purchases.
A US court has confirmed a decision to dismiss a lawsuit against Robinhood Markets. The lawsuit was filed by investors after a stock trading problem in 2021.
QUICK LINKS
Worldcoin opens up WLD reservations for unverified users (2 min read)
The iris-scanning crypto project Worldcoin has now made it possible for even unverified customers to reserve their Worldcoin (WLD) tokens.
Coinbase layer-2 network Base hits 136,000 daily active users (2 min read)
Daily active users on Coinbase’s layer 2 blockchains have exceeded 100,000 for the first time, just the day following the official launch of the network.
Cross-chain wallet BitKeep changes name to Bitget Wallet after acquisition (2 min read)
Cross-chain wallet BitKeep has changed its name to Bitget Wallet after the crypto exchange purchased a controlling stake for $30 million in March.
Chinese police to crack down on crypto and deepfake AI (2 min read)
The move comes as several prominent Chinese blockchain executives have been arrested this year.
After a surge in personal identity thefts and digital financial crimes, Chinese police are more closely scrutinizing the Web3 sector.
Hong Kong securities regulator issues in-principle approval to HKVAX (2 min read)
Hong Kong’s Securities and Futures Commission (SFC) has issued in-principle approval to Hong Kong Virtual Asset Exchange (HKVAX) to operate a virtual asset trading platform under the region’s securities laws.
US regulators consider regulating political deep fakes ahead of 2024 election (2 min read)
The US Federal Election Commission (FEC) unanimously voted on August 10th to move forward a petition that seeks to regulate political ads that use deep fakes created by AI.
California commission outlines campaign disclosure requirements for crypto (3 min read)
The California Fair Political Practices Commission (FPPC) has updated its campaign disclosure manuals, with revisions including detailed rules for cryptocurrency contribution declarations.
Canada to develop repository for storing crypto and NFT seizures (2 min read)
The Royal Canadian Mounted Police (RCMP) is seeking a digital asset solution to facilitate the seizure and storage of cryptocurrency and nonfungible tokens (NFTs).