Reddit mods sold tokens 💸, Google Cloud partnered with MultiversX 🤝, Binance resumes euro services 🎉
Daily Crypto, Blockchain & Web3 Update 2023-10-20
CRYPTOCURRENCY
Community reacts to SEC dropping XRP case and LBRY shutdown (6 min read)
Ripple recently won a legal battle against US securities regulators. However, this victory was overshadowed by the news of the blockchain platform LBRY shutting down, which caused a strong reaction from the community.
Reddit mods dumped tokens hours before blockchain program termination (3 min read)
Reddit announced on October 17th that it will no longer continue its blockchain-based community points program due to scalability problems. The announcement caused controversy in the crypto community. People labeled it a "rug pull" because the native token's price dropped on multiple Subreddits after the news circulated.
Google Cloud teams up with MultiversX amid blockchain firm’s focus on metaverse (2 min read)
Google Cloud has partnered with blockchain infrastructure firm MultiversX (formerly Elrond) to boost its Web3 presence. Google Cloud’s BigQuery data warehouse has integrated with MultiversX, which will help Web3 projects and users derive valuable insights from powerful data analytics and artificial intelligence tools within the Google Cloud ecosystem.
Crypto exchange Binance restores euro services after finding new fiat partners (3 min read)
Crypto exchange Binance has announced it has onboarded new partners to handle euro deposits and withdrawals, one month after losing its previous fiat partner, PaySafe, in September.
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Atomic Wallet freezes $2M in ‘suspicious deposits’ on exchanges (2 min read)
Hacked cryptocurrency wallet Atomic Wallet has frozen $2 million in “suspicious deposits” in a joint effort with major crypto exchanges. The reason behind the freeze lies in the collaboration between Atomic Wallet, forensic companies, and centralized exchanges. They did this after receiving reports from users who said there were unauthorized transactions in their wallets.
Circle launches Web3 development platform for Web2 developers (4 min read)
Circle, the issuer of stablecoin, has released a new tool. It aims to help developers build Web3 apps without facing complexity. This tool was announced on October 19 through a social media post.
Coinbase open sources code for layer-2 network Base (3 min read)
Coinbase's layer-2 network Base has made its code repositories and smart contracts open-source. This decision aims to improve transparency and accountability, and enable public contributions to the project.
‘This will be our last post’ — LBRY throws in towel against the SEC (4 min read)
LBRY, the company behind the LBRY blockchain, has sent their last message to the crypto community. They stated that due to debts amounting to several million dollars, they are no longer able to sustain the company.
Tether to publish reserve reports in real time in 2024: Bloomberg (1 min read)
Tether Holdings, the company behind the largest stablecoin called Tether, is getting ready to update how often it releases its reserve data reports. Tether's Chief Technical Officer, Paolo Ardoino, announced that the company intends to publish real-time reserve data starting in 2024.
Argentine central bank to introduce digital peso bill ‘as soon as possible’ (2 min read)
The Central Bank of the Argentine Republic is working faster on legislation to implement a central bank digital currency (CBDC) in the country.
European Banking Authority, ESMA issue crypto entity suitability guidelines (2 min read)
The EBA and ESMA released a consultation paper on October 20 with two drafts. These drafts encompass the assessment of the suitability of management body members and shareholders or members holding qualifying stakes in issuers of asset-referenced tokens (ARTs) and crypto asset service providers (CASPs).
EU data protection regulators urge anonymity for smaller transactions in digital euro (2 min read)
On Oct. 18, the European Data Protection Board and the European Data Protection Supervisor issued a joint statement on regulating a digital euro, as proposed by the European Commission in July 2023. Regulators made recommendations to improve personal data protection for the EU central bank digital currency (CBDC).
Metaverse tech gets US greenlight to use speedier 6GHz frequency (3 min read)
The US communications regulator has changed the rules to allow low-power wearable technology, such as virtual reality (VR) and augmented reality (AR) devices, to use the 6 gigahertz (GHz) frequency band for the metaverse.
US surveillance and facial recognition firm Clearview AI wins GDPR appeal in UK court (4 min read)
United States surveillance and facial recognition firm Clearview AI has won a court appeal in the United Kingdom after being accuse’s general data protection regulation (GDPR).