Issue #77

Regulation

1. SBF found guilty on all 7 charges

-- A tentative sentencing date and another trial for additional charges set for March 2024

2. Co-Founder of Terraform Labs Daniel Shin in on trial in S Korea

-- Prosecution claims Shin took advantage of investors' lack of information while the defense argues that virtual assets were not regulated when Terraform was founded

3. SafeMoon executive team charged with multiple fraud counts, arrests made

-- Allegedly engaged in wash trading and misappropriation of investor funds

4. PayPal has been granted a license by the Financial Conduct Authority (FCA) to offer crypto services in the UK

-- PayPal becomes the 4th firm to receive a crypto license by the FCA

5. Abu Dhabi introduces a formal regulatory framework for DAOs and Marshall Islands further refines its existing framework

6. New crypto exchange Backpack receives license to operate in Dubai

Infrastructure

1. Vitalik Buterin unpacks the current landscape of Ethereum's scaling ecosystem (source)

2. Celestia rolls out its mainnet beta

-- The beta enables rollups and other modular chains to use Celestia as a data availability and consensus layer

-- Airdropped its native TIA token to 580k users

-- Less than 350k transactions and TPS of 0.19 in the first week

3. Ava Labs proposes Astra upgrade for subnets

-- Phase 1: subnet validators can exclusively focus on validating a subnet and synchronizing its P-chain (eliminates the need for them to validate the main chain)

-- Phase 2: requirement to lock/stake AVAX upfront is eliminated and a “pay-as-you-go” validation fee will be imposed instead

4. Crypto custody provider Qredo down to 6 months of runway, cuts 50% of staff

5. Lido Finances approves proposal to enable decentralized staking module Obol

Finance

1. Thailand's 2nd largest bank KBank acquires 97% ownership of local crypto exchange Satang

2. BIS releases an update on Project mBridge

-- Concludes that multi-CBDC arrangements that directly connect the CBDCs of different jurisdictions in a single common technical infrastructure offer significant potential to improve the current system

-- Hoping to build a minimum viable product next

3. Tether's attestation report from BDO shows that 86% of its reserves are in cash and cash equivalents

4. Crypto exchange OKX publishes proof of reserves report

-- Has maintained a reserve ratio exceeding 100% for the past year, with $12.5 billion in assets

5. The National Bank of Georgia has selected Ripple Labs as the official technology partner for its digital lari project

6. Bitget in dispute with Floki over token listing

-- Bitget alleging market manipulation, which is why it listed and promptly delisted Floki's token; offering to buy back tokens from users at a price lower than the current market rate

-- Floki claiming Bitget listed a fake version of the token

Consumer

1. USDT transactions in Brazil have surpassed Bitcoin transactions, accounting for 80% of all crypto transactions in the country

2. Circle curbs stablecoin minting for retail users

3. Worldcoin claims 4M app downloads and 1M active users

4. OpenSea lays off 50% of its staff in preparation for the launch of OpenSea 2.0

-- The move is in response to user feedback that the company felt like a "follower, not a leader"

5. CryptoPunks holders were offered physical versions of their NFTs for 48 hours

6. Boba Guys, a bubble tea brand, reported a 67% increase in monthly visits and a 65% increase in spend from its loyalty program powered by Solana

Security

1. North Korean hacking group Lazarus targeting blockchain engineers with a new macOS malware called KandyKorn

2. Telegram trading bot Unibot hacked for over $600k via a token approval exploit

-- The protocol has promised to reimburse any stolen funds

3. Frax Finance's domain hijacked

-- Users were redirected to a malicious website though no user funds have been stolen yet

Research

1. Integration of self-sovereign identity with a TLS 1.3 handshake to build trust in IoT systems (source)

-- Problem: centralized public key infra is not great for identity in large-scale IoT systems

-- Develops an extension of the original TLS 1.3 handshake to support two new SSI authentication modes while maintaining interoperability with nodes implementing the original handshake protocol

2. Decentralized, scalable, and privacy-preserving synthetic data generation (source)

-- Use of multi-party computation, trusted execution environments, and Solid

3. How difficult is it to takeover a blockchain with delegated proof of stake consensus? (source)

4. A blockchain combining broadcast and consensus (source)

-- Achieves latency lower than 0.5 seconds for throughput up to 5,000 certificates per second (150k ops/s with bundling)

-- Uses a consistent broadcast protocol between validators to ensure the safety of all operations, ensuring lower latency as compared to consensus

-- Only relies on consensus for the correct execution of complex smart contracts operating on shared ownership objects, as well as to support network maintenance operations

5. Privacy-preserving federated learning for financial anomaly detection (source)

-- Use of homomorphic encryption and multi-party computation to provide input privacy

-- Provides output privacy against inference time attacks through differential privacy

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