Issue #59

REGULATION

1. US Court of Appeals sides with Grayscale instead of the SEC

-- Matter at hand: Grayscale laid out a proposal to convert the Grayscale Bitcoin Trust (GBTC) into an ETF

-- Court ruling: SEC's denial of Grayscale's proposal was "arbitrary and capricious" and must now review the proposal again

-- SEC has 45 days to request an en banc hearing and could still appeal the decision

2. SEC brings first NFT enforcement action in case against podcast studio Impact Theory

-- Allegedly conducted an unregistered securities offering via NFT sales

-- Imposing a $6.1M penalty and the destruction of the studio's NFT collection, Founders Keys NFTs

3. Treasury Department and IRS propose crypto tax reporting rules

-- Require crypto brokers and exchanges to report sales

-- Introducing Form 1099-DA to help crypto taxpayers calculate their gains

-- Comments are due October 30 and the Treasury will hold hearings in November

4. SEBA Bank receives approval-in-principle in Hong Kong to offer crypto-related services

5. Binance given green light to continue operations in Belgium via a Polish entity

INFRASTRUCTURE

1. Base and Optimism are collaborating on a revenue and governance sharing agreement

-- Base contributing either 2.5% of its total revenue or 15% of its net profits and receiving up to 118 million OP tokens over 6 years

-- Base and Optimism want to collectively shape the rules for upgrades and sequencing of OP Chains

-- Base and Optimism also working on establishing a security council and a client called OP-geth

2. StarkWare users temporarily locked out of their accounts due to a 0.12.1 version upgrade

3. Akash Network adds NVIDIA GPUs to its marketplace for decentralized compute

4. MakerDAO announces plans to launch a native blockchain called NewChain

-- Plans to fork Solana's codebase

5. Solana-based automation tool Clockwork is shutting down

-- Due to limited commercial upside and the team's interest to explore new opportunities

6. Polygon releases Chain Development Kit to help developers create customizable, zk-powered L2s

7. Offchain Labs releases Arbitrum Stylus

-- Allows developers to build smart contracts using WebAssembly-compatible languages

FINANCE

1. Nansen: PayPal's new stablecoin has seen slow adoption so far

-- Most of the supply is still held by Paxos and few holders have balances of more than $1k

2. MoonPay launches MoonPay Ventures to invest in early stage web3 startups

3. Circle partners with Mercado Pago to introduce USDC to Chile

4. Tether starts using Britannia Bank & Trust as its banking partner

5. Argent and Starknet launch Hito Studios, a venture studio that helps startups build on Starknet

-- Provides early stage investment and operational resources, such as hiring, engineering, legal, and growth

6. Trust Machines launches its flagship wallet, Leather

7. Binance ending support for its stablecoin (BUSD) and encouraging users to convert to FDUSD by Feb '24

8. Hong Kong Monetary Authority releases report highlighting the potential of tokenization to increase efficiency, liquidity, and transparency in bond markets

9. Reliance Industries Chairman Mukesh Ambani launches Jio Financial Services

-- Exploring blockchain-based platforms and CBDCs

10. DCG reaches in-principle agreement with Genesis creditors to resolve bankruptcy claims

-- Unsecured creditors expected to recover 70-90% of their funds

-- Some creditors are accusing Genesis of ballot-stuffing

11. Indian crypto exchange CoinSwitch cuts 1/3 of its customer support team

CONSUMER

1. Cryptoys is launching a new collection of collectibles/toys based on Mickey Mouse

-- The 15-piece collection features different skins designs and levels of rarity

SECURITY

1. 3 former Pepe team members stole $15M from project's multi-sig wallet

-- Transaction approval requirements were changed from 5/8 wallets to 2/8 wallets

2. Coinbase is investigating an error that has caused some Coinbase Wallet users to see zero balances

-- Had identified the cause of the issue and implementing a fix

3. OpenZeppelin releases Defender 2.0 to help developers build secure smart contracts

RESEARCH

1. Time-Bin CKA as a tool for blockchain technology (source)

-- Use of Quantum Conference Key Agreement (CKA) for the development of post-quantum blockchains

-- CKA more scalable than BB84

2. Improving robustness and accuracy of Ponzi scheme detection on Ethereum using time-dependent features (source)

-- Identifies 4 categories of Ponzi schemes on Ethereum

-- Use of transaction data (as opposed to smart contract code) to identify Ponzi schemes

3. Securing blockchain systems: a novel collaborative learning framework to detect attacks in transactions and smart contracts (source)

-- Developed a tool that can detect attacks in real-time with 94% accuracy

4. How does post-quantum cryptography affect CBDCs? (source)

5. Analyzing the right of access according to GDPR Article 15 (source)

-- Reveals 10 patterns users face when requesting and accessing their data in geographies where GDPR regulation applies

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