CoinCodeCap WeekInFocus: January 21, 2024

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WeekInFocus is your ally in plugging in the gaps in the news you might have missed during the course of the previous week. Beyond that, it serves as a catalyst for your professional and personal development by introducing you to new ideas and exciting job opportunities. Join us in accepting both what is occurring and what is conceivable.

News

Global

South Korea’s FIU Gears Up for Stringent Regulations on Crypto Mixers

  • The FIU emphasized the urgency of addressing the misuse of crypto mixers by scammers
  • Reportedly, the talks for the regulation of crypto mixers are still in the early phases

EU Banking Authority Announces Anti-Money Laundering Rules For Crypto Firms

  • Revised guidelines have been effective since December 30,2023
  • EBA emphasized that these changes are a vital progression in the EU’s fight against financial crime.

CFTC Takes Action Against Debiex in $2.3 Mln Romance Crypto Scam

  • CFTC asserts that Debiex managed to siphon over $2 million through this intricate scheme.
  •  CFTC has identified five victims over two years.

Nasdaq, Cboe Seek Approval for BTC ETF Options, SEC acknowledges proposal

  • Cboe filing seeks permission to trade options on “ETPs that Hold Bitcoin.” 
  • Nasdaq’s filing aims to list and trade options on BlackRock’s iShares Bitcoin Trust, 

Platform and Tokens

SEC Chairman Gary Gensler Unveils Truth Behind SEC’s X Account Hack

  • SEC Chairman Gary Gensler, in a recent press release, addresses the unauthorized access to the SEC’s ‘@SECGov’ X account.
  • Gensler provides reassurance by stating that there is no evidence suggesting the breach extended to SEC systems or data.

Bittrex Objects SEC’s Securities Classification of Crypto 

  • Crypto Exchange Bittrex has filed a dismissal plea in its continuing legal dispute with SEC igniting a new debate over the complexities of digital asset regulation.
  • Bittrex hopes to build a more precise regulatory framework that accepts digital assets by filing this move to dismiss.

US SEC Supports Do Kwon’s Request to Start Trial Post-Extradition

  • In support of Do Kwon’s attorneys, the US SEC agreed to move the trial forward following the co-founder of Terraform Labs’ extradition.
  • According to the document, the SEC supports Kwon’s request for a brief postponement so he can take part in the trial.

Tether Issues Strong Response to UN Report Alleging ‘Illicit Activity’ of USDT

  • Tether has responded to a report by the UN that purportedly showed their stablecoin’s involvement in illegal activities.
  • The UNODC released a report which discussed the use of cryptocurrency in illicit operations and underground banking.

Socket Protocol Hit by $3.3M Loss in Exploit

  • A social media statement from the team claimed that Socket had been compromised and that $3.3 million had been taken out of contracts related to it.
  • The team announced that the platform was back up and running, and the damage had been completely mitigated.

Dismissal Looms for FTX’s Clawback Lawsuit Against SBF’s Parents

  • Parents of Sam Bankman-Fried Move to Dismiss ‘Threadbare’ FTX Lawsuit
  • Stanford Law professors Bankman and Fried assert that Bankman lacked a fiduciary relationship with FTX.

IcomTech’s Ex-CEO Sentenced to Five Years in Prison for Wire Fraud

  • After entering a guilty plea for conspiring to commit wire fraud, the former CEO of IcomTech was given a five-year jail sentence.
  • Ochoa entered a guilty plea to one count of conspiracy to conduct wire fraud in September, which was connected to an IcomTech Ponzi scam based on crypto.

Project Updates

TrueUSD Stablecoin Depegs Amid Massive Sell Off

Traders have reportedly sold over $339.2 million worth of TUSD in the last 24 hours on Binance. Speculation arose that the stablecoin might be undercollateralized, contributing to the depegging.

HashKey Exchange Surpasses $100 Million Funding Goal, Attains Unicorn Status

The  latest post-raise valuation of HashKey stands at $1.2 billion. The specific identities of institutional investors were not disclosed.

ProShares Makes Bold Move, Files for 5 Bitcoin ETFs with Indirect Exposure

In the early days of spot Bitcoin ETF trading on regional stock exchanges, ProShares is preparing to introduce a number of Bitcoin ETFs with indirect BTC exposure. The daily investing goals of ProShares Plus Bitcoin ETF and ProShares Ultra Bitcoin ETF are to outperform the daily performance of BGCI by 1.5x and 2x, respectively.

Podcasts and Interviews

  • Interview with Kartin Wong, founder of Hyper Oracle
  • “Raoul Pal on Bitcoin” podcast by Anthony Pompliano
  • “Bitcoin Dumping While Tech Stocks Rally” podcast by Scott Melkar

Job Listings

2k24 Events

  • ETH Cinco de Mayo hackathon (Cholula, Puebla) from February 2 to February 4
  • Ethereum Lima Day on February 3
  • 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!

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