CoinCodeCap WeekInFocus: March 10, 2024
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News
global
Hong Kong SFC blacklists fake cryptocurrency exchange websites
Major regional cryptocurrency exchanges were masquerading as fake websites, which were detected and banned by the SFC.
At the SFC’s request, Hong Kong police blocked the relevant website.
Taiwan’s Upcoming Digital Currency Law Expected in September
The FSC said a new draft digital asset bill for Taiwan will be proposed in September 2024.
The committee will also draft legislation to prevent the risks digital assets pose to the stability of the traditional financial system.
UK Authorities Give Power to Seize Crypto Assets Under New Law
UK law enforcement agencies have been given the power to freeze cryptocurrency assets without conviction.
The move is aimed at addressing growing concerns surrounding the illegal use of cryptocurrencies.
Arizona Senate Considers Bitcoin ETF for State Retirement System
Under the proposed legislation, ASRS and PSPRS would be required to submit detailed reports highlighting everything from the risks to potential benefits of Bitcoin ETFs.
The Bitcoin Retirement Resolution was first introduced and read in the Senate on January 30, 2024.
New York Attorney General’s lawsuit against DCG dismissed
NYAG has filed a motion to dismiss its $3 billion fraud lawsuit against DCG and its CEO. They claim the accusations against them are “baseless satire.”
Genesis previously agreed to a separate settlement. DCG also submitted an objection to the interim agreement.
Wyoming passes bill providing legal framework for DAO
The bill passed 50 to 10 in the House of Representatives with bipartisan support.
The law details the requirements for DUNA formation and outlines the role of smart contracts.
Platforms and Tokens
Binance CEO summoned by Nigerian commission over financial crime concerns.
Richard Teng has been contacted by the Financial Crimes Committee of the House of Representatives of Nigeria in relation to allegations of money laundering and terrorist financing.
The CBN governor expressed concerns about Binance in 2023, citing its involvement in “suspicious fund flows.”
Fantom Receives Default Judgment Against Multichain in $122M Exploit Case
The court will assess damages against Fantom and require Multichain to repay them.
Fantom said the Singapore High Court has issued a default ruling in relation to its legal action against multichain, a cross-chain protocol.
Deutsche Börse unveils spot cryptocurrency trading platform
Deutsche Börse, a German stock market targeting institutional investors, has officially introduced its own cryptocurrency trading platform.
After an RfQ transaction, a multilateral trading facility or trading system is provided that facilitates the exchange of financial instruments between multiple parties.
Cryptoqueen’s brother avoids additional prison sentence in $4 billion OneCoin fraud case.
U.S. District Judge Edgardo Ramos in Manhattan sentenced Ignatov to the 34 months he has already spent in prison.
Ignatov will remain under court supervision for the next two years and must forfeit $118,000 in proceeds he earned in connection with OneCoin.
Terra founder Do-Kwon wins US extradition appeal
Mr. Dokwon’s ongoing story is that a Montenegrin court has once again overturned an earlier ruling that called for the administration’s extradition to the United States.
Since Kwon was detained in Montenegro, there have been numerous incidents through the lengthy extradition process, the most recent of which was a dismissal by the Court of Appeal.
WOOFi Exchange lost $8 million due to Arbitrum’s flash loan exploits.
WOOFi introduced a 10% white hat bounty program following the $8.5 million Arbitrum contract abuse.
WOOFi aims to resume operations within two weeks and proceed with the planned v3 version release.
BlockFi secured $874.5 million settlement with FTX and Alameda Research.
Under the in-principle agreement, BlockFi will receive $874.5 million in claims against FTX and Alameda Research.
The $874.5 million consists of a $185.2 million charge against FTX.com, reflecting the value of BlockFi customer assets held on the exchange, with an additional charge of $689.3 million.
U.S. appeals Do Kwon’s extradition to Korea
U.S. authorities plan to challenge the recent ruling by Montenegro’s High Court ordering Terraform Labs to extradite Mr. Do-kwon Kwon to South Korea.
In March 2023, the United States and South Korea submitted a request for Kwon’s extradition, but since then they have been divided over who will eat first.
Project updates
Binance suspends Nigerian naira trading until March 8
Binance is leaving the Nigerian market, announcing the complete termination of all services for the local fiat currency, Nigerian Naira. Binance will stop accepting NGN deposits immediately, as NGN deposits will not be supported after 2:00 PM UTC on March 5th.
Bitcoin mining giant Hut 8 suspends operations due to rising energy costs
Canadian Bitcoin mining company Hut 8 is leaving Drumheller, Alberta due to power outages and rising energy costs. All of the company’s current Bitcoin miners will be relocated to a location in Medicine Hat, Alberta, Canada.
Cryptocurrency Investment Fraud Will Reach $3.94 Billion in 2023: FBI Report
U.S. cryptocurrency investment fraud losses in 2023 reached $3.94 billion, up 53% from $2.57 billion in 2022. Losses from cryptocurrency-related fraud amounted to $3.94 billion, accounting for 86% of all U.S. investment fraud losses in 2023.
Podcasts and Interviews
Interview with Hyper Oracle Founder Kartin Wong
“Millionaire Crypto Trader Shares 2024 Market Blueprint” Podcast by Words of Rizdom
Crypto Nutshell’s “Why You Need a Minimum 0.1 Bitcoin” Podcast
Job information
Protocol Engineer | wow
Technical Writer | power room
Software Engineers and Staff Software Engineers | MetaMask Staking
TypeScript Developer | sourcing
Protocol Researcher | nethermind
Technology Chief Operating Officer | situation
2k24 event
ETHLatam (San Pedro Sula, Honduras) March 13 – March 14
ETHGlobal London from March 15 to March 17
ETH Canal Conference and Hackathon from March 19th to March 21st
ETHTaipei Conference and Hackathon from March 21st to March 24th
ETHSamba (Rio) March 22 to March 24
As we conclude another week of insight and discovery, remember that staying informed and motivated is an ongoing journey. CoinCodeCap’s WeekInFocus accompanies you on this path, providing fresh perspectives on news, doors to exciting career possibilities, and a collection of thought-provoking podcasts. Let us face the coming week with curiosity and determination. Until next time, stay focused and keep thriving!
