Issue #73

Regulation

1. UK FCA working on blueprint for fund tokenization due this year

2. The latest and greatest in SBF's trial

-- Defense: SBF needs ADHD meds (Adderall) to testify

-- Former FTX General Counsel: never approved the exchange lending customer funds to sister firm Alameda Research

3. California Governor Gavin Newsom signs BitLicense bill

-- Requires the state's Department of Financial Protection and Innovation to create a regulatory framework for the crypto sector

-- Requires businesses conducting crypto operations in California to obtain a license

4. SEC drops charges against Ripple CEO Garlinghouse, Chairman Larsen

5. US Treasury is proposing to label crypto mixers as a "primary money laundering concern"

6. Upbit receives in-principle approval for a MPI license in Singapore

7. Coinbase has chosen Ireland as its regulatory hub in Europe

-- Citing the country's talent pool and “very good” approach to taxation

8. Council of the EU adopts DAC8 crypto tax reporting rule

-- Grants tax collectors the jurisdiction to monitor and evaluate every crypto transaction carried out by individuals/entities within any other member state of the EU

9. South Korea investigating Sui for manipulation

Infrastructure

1. Ethereum's queue for new validators is emptied

-- Down from a peak of 96,000 in June

-- This is due to the Shapella upgrade in April, which allowed withdrawal of staked ETH for the first time, and the declining ROI from staking ETH

2. Lightning Labs releases Taproot Assets, a protocol that allows developers to issue/manage digital assets

3. Scroll launches its zkEVM to mainnet

4. Manta ditches OP Stack for Polygon's Chain Development Kit

-- Hopes to provide faster transaction finality, increased security, and broader interoperability with this move

5. Stellar is launching Soroban, a Rust-based smart contract platform

6. Polygon releases proposal to create a “Protocol Council” to oversee changes to the blockchain

-- Names 13 inaugural members from the wider blockchain community, including Coinbase and the Ethereum Foundation

7. Base open-sources code to enhance transparency

-- Offering a bounty payout of up to $1M for bug discovery

Finance

1. Uniswap Labs will start charging a 0.15% fee on trades involving ETH, USDC and other select tokens

-- The fee is intended to sustainably fund Uniswap's operations (expected to generate $1M/day)

-- Stablecoin swaps and trades between ether and wrapped ether are exempt from the fee

2. Tangible to sunset USDR after depeg

-- Holders able to redeem USDR for a mix of crypto assets, some of which represent real estate

3. FTX proposes a plan to return up to 90% of creditor holdings held at the exchange before it went bust last November

4. Unchained forms Sound Advisory, a network of Bitcoin-competent financial planners catering to HNWIs

5. Circle introduces its smart contract platform

6. Binance shutting down its Visa debit card in Europe

7. Tether to start publishing reserve reports in real-time in 2024

Consumer

1. Ferrari to start accepting crypto payments in US; Europe to follow

2. Korean giant SK Telecom releases crypto wallet called T wallet

3. Reddit is shutting down its blockchain-based Community Points program due to the high resourcing needed and the regulatory environment

-- On-chain data revealed that 3 moderators of Reddit's Cryptocurrency subreddit may have used the information to dump their token holdings

4. Creator of "Magic: The Gathering" releases blockchain game called "Brawlers" on the Epic Games Store

Security

1. CertiK cuts 15% of workforce in response to "market dynamics"

2. Tether freezes funds in 32 crypto addresses linked to terrorism and warfare in Israel and Ukraine

3. Gaming project FinSoul drains $1.6M via exit scam

-- The team hired actors to pose as executives and rebranded itself after an earlier exit scam

4. Philippines-based crypto exchange Coins(.ph) loses $6M in exploit

Research

1. Building verifiably random and fair raffles on Sui (source)

2. A two-layer blockchain sharding protocol (source)

-- Architecture consists of "control" and "process" shards

-- Process shards: subset of control shards; expected to contain at least one honest node with high confidence; blocks that receive unanimous acceptance verdicts are accepted

-- Control shards: expected to have a majority of honest nodes with high confidence; blocks that do not obtain unanimous verdicts are collected and voted on by the control shards; process shards that either don't vote or vote in opposition to the decision reached by control shards are eliminated

3. Bridging BRC-20 to Ethereum (source)

4. An Ethereum blockchain network security monitoring system (source)

-- An open-source tool for monitoring and detecting potential attacks on Ethereum's P2P network

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