Trezor released new wallet 💯, China rejects crypto lending 🚫, CoinMarketCap launches ChatGPT 🚀
Daily Crypto, Blockchain & Web3 Update 2023-10-12
CRYPTOCURRENCY
Trezor releases new hardware wallet and metal private key backup (2 min read)
Trezor, a leading provider of cryptocurrency wallets, is marking its 10th anniversary with the launch of three self-custody products. These include a new Trezor wallet, a private key backup solution, and a Bitcoin-only wallet.
Crypto lending invalidated by Chinese court in second landmark ruling (2 min read)
A second Chinese court has ruled that crypto lending is an activity outside the protection of the country’s legal system.
In April 2021, Mr. Ming lent 80,000 Tether to Mr. Gang for stablecoin trading, as stated in an Oct. 10 press release from the Nanchang People's Court. Mr. Ming sued Mr. Gang in court because he defaulted on a loan that was supposed to be repaid within six months.
Platypus DeFi loses $2.2M in another flash loan exploit (2 min read)
Platypus, a decentralized finance (DeFi) protocol, lost more than $2 million in assets due to a flash loan exploit. The protocol suspended all of its pools in response to the attack.
CoinMarketCap launches ChatGPT plugin (2 min read)
CoinMarketCap, a crypto data aggregator owned by Binance, has developed a new plugin for ChatGPT, an AI chatbot based on a large-language model (LLM).
The plugin is free to use and features up-to-date crypto data sourced from CoinMarketCap.
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USDR stablecoin depegs to $0.53, but team vows to provide solutions (3 min read)
Real estate-backed stablecoin USDR lost its peg to the United States dollar after a rush of redemptions caused a draining of liquid assets such as Dai from its treasury, its project team has revealed.
Caroline Ellison testimony: SBF bribed Chinese officials for $150M to unfreeze funds (3 min read)
Caroline Ellison, the ex-partner of FTX founder Sam "SBF" Bankman-Fried and former CEO of Alameda Research, testified in court that SBF bribed Chinese officials with millions of dollars to release funds from local exchanges.
Caroline Ellison provided 7 ‘alternative’ balance sheets hiding Alameda’s exposure to FTX (3 min read)
During Sam Bankman-Fried's trial in New York, Caroline Ellison, former CEO of Alameda Research, confessed to presenting altered numbers to Genesis for review.
Alameda Research lost $190M to scams and ‘questionable’ blockchains: Whistleblower (3 min read)
FTX's sister hedge fund, Alameda Research, lost around $190 million from trading funds due to potentially avoidable scams, as claimed by a former engineer at the company.
Former Alameda Research engineer Aditya Baradwaj says one trader lost more than $100 million after clicking on a fake link.
Binance, Snapchat and capital among things SBF was ‘freaking out’ about (3 min read)
Weeks and months before the collapse of crypto exchange FTX, former CEO Sam Bankman-Fried was “freaking out” about Alameda, buying shares in Snapchat, raising capital from Saudi royalty, and getting regulators to crack down on rival crypto exchange Binance.
US lawmakers urge IRS to implement crypto tax reporting requirements before 2026 (2 min read)
Seven US senators have urged the Treasury Department and IRS to quickly implement a rule that would require crypto brokers to report certain tax information.
Hata receives in-principle approval to be fifth Malaysian digital exchange (2 min read)
Hata, which is based in Malaysia, has received preliminary approval from the Securities Commission Malaysia (SC) to register as a Recognized Market Operator (RMO) for digital asset exchange and digital brokerage services. The approval means Hata could launch its services in six to nine months.