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Table of Contents
News
Global
Critical Review Looms for BitLicense Oversight in New York
- Thomas DiNapoli, the Comptroller of New York State, expressed his disapproval of BitLicense’s administration at the NYDFS.
- It is suggested by DiNapoli to create official protocols for the examination follow-up procedure.
Singapore Central Bank Flags imToken Crypto Wallet
- The Monetary Authority of Singapore (MAS) placed the cryptocurrency wallet firm imToken on the Investor Alert List in Singapore.
- ImToken was flagged for not applying for a financial business license, despite its headquarters being located in Singapore.
SEC Cyber Breach: False BTC ETF Approval Announcement Rattles Markets
- The misinformation triggered a temporary surge in Bitcoin prices.
- The SEC assured collaboration with law enforcement in the ongoing investigation.
US SEC Grants Approval to All 11 Spot Bitcoin ETF Applications
- The US Securities and Exchange Commission has approved all 11 spot Bitcoin Exchange Traded Funds (ETF), as per the statement on Wednesday.
- The SEC’s approval of a noteworthy list of Bitcoin ETFs signals an important change in the crypto market.
EBA Conducts Public Hearing To Shape Guidelines for Stablecoin Issuers under MiCA
- EBA policy officials provided insights into proposed guidelines for issuers of asset-referenced tokens.
- Hearing addressed internal governance of stablecoin issuing companies, management requirements and compliance.
South Korean Brokerages Pause Transactions for Foreign Spot Bitcoin ETFs
- South Korean securities firms have suspended Bitcoin spot ETF services in response to regulatory concerns from the FSC.
- FSC further announced intentions to conduct a comprehensive review of its regulations.
Singapore’s Proposed Bill Aims to Extend Regulatory Oversight on Crypto Financial Products
- Under a law that is now in the country’s parliament, the Monetary Authority of Singapore (MAS) will be given more authority.
- The measure stipulates that CMSL holders may sell unregulated goods that could jeopardize their regulated operations.
Platform and Tokens
CoinsPaid Crypto Gateway Faces Major Security Breach, Loses Over $7.5M: Report
- CoinsPaid, a cryptocurrency payment gateway, suffered its second security incident in as many months.
- The attacker exchanged almost 97 million CPD tokens for ETH worth about $368,000, according to Cyver’s team on X.
Celsius Files Intent to Recover Pre-Bankruptcy Withdrawals of Over $100k
- Under this filing, eligible account holders can settle their liabilities by remitting 27.5% of the funds by January 31, 2024.
- Non-compliant account holders may face lawsuits to recover the preferences they received.
Apple India Takes Action: Blocks Binance and 9 Other Crypto Exchanges Amid FIU Notice
- The Indian government issued a violation warning against almost a dozen off-shore crypto exchanges; weeks later, Apple’s App Store in India barred those apps.
- The FIU-notified cryptocurrency exchanges are still accessible on Google Play Store and web versions while being blocked by Apple’s App Store.
Genesis Global Trading Settles with NYDFS, Forfeits BitLicense, and Agrees to $8M
- Genesis Global Trading has consented to a settlement with the NYDFS in which it gives up its right to operate within the state.
- The NYDFS clarified that Genesis Global Trading—a distinct organization from Genesis Global Capital—was impacted by the settlement.
Do Kwon Seeks SEC Trial Postponement Amid Extradition Challenges
- Kwon’s legal team has formally requested a trial postponement until mid-March.
- If the court denies the request, the trial is slated to proceed on January 29, 2024.
Venezuela Shuts Down Petro Cryptocurrency Amidst Corruption Scandal
- All crypto wallets on the Patria Platform, the exclusive trading platform for the petro, are slated to close on January 15.
- The remaining petros are to be converted to the country’s local currency- bolivars.
Wise Lending Faces $440K Loss in Suspected Flash Loan Exploit of Crypto Assets
- Multiple security experts report that Wise Lending was purportedly exploited and deprived of 170 Ether, which is currently valued at $440,000.
- As part of the hack, the attacker took 1,110 Lido Staked Ether (stETH) tokens, worth $2.9 million, from the Aave lending protocol.
Project Updates
CleanSpark Signals Expansion, Plans to Acquire 160,000 Miners
CleanSpark purchased 60,000 Bitmain S21 units at $16.10 per terahash for $193.2 million. Miner has option to acquire an extra 100,000 miners at a fixed rate of $18 per terahash over the next 12 months.
CoinGecko’s X Accounts Compromised in Elaborate Phishing Attack
The X (formerly Twitter) account and terminal of cryptocurrency data aggregator CoinGecko were momentarily hacked on January 10. The company’s X account briefly featured a phishing scam link alerting users to a CoinGecko token airdrop.
CoinShares To Buy Valkyrie Investments’ ETF Unit Following SEC Approval
The acquisition includes Valkyrie’s Bitcoin and Ether Strategy ETF (BTF) and the Bitcoin Miners ETF (WGMI). On Wednesday, Valkyrie’s spot bitcoin ETF received SEC approval.
Podcasts and Interviews
- Interview with Kartin Wong, founder of Hyper Oracle
- “Trading Wizard: WOR Podcast EP 84” podcast by Words of Rizdom
- “Crypto Mindset Returns!” podcast by FreshandFit
Job Listings
- Technical Chief Operating Officer | Status
- ZK Circuits Engineer | Ethereum Foundation
- Senior Fullstack Developer | Enya Labs
- Lead Security Engineer | Enya Labs
- Smart Contract Auditor | Netherminds
2k24 Events
- EF’s Next Billion fellowship cohort 4 deadline is January 15, 2024
- ETH Cinco de Mayo hackathon (Cholula, Puebla) from February 2 to February 4
- ETHDenver BUIDLWeek & hackathon from February 25 to March 3
- ETHLatam (San Pedro Sula, Honduras) from March 13 to March 14
- ETHGlobal London from March 15 to March 17
As we wrap up another week of insights and discoveries, remember that staying informed and motivated is an ongoing journey. WeekInFocus by CoinCodeCap is here to accompany you on this path, bringing you a fresh perspective on the news, a doorway to exciting job possibilities, and a collection of thought-provoking podcasts. Let’s embrace the coming week with curiosity and determination. Until next time, keep focused and keep thriving!
