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Table of Contents
News
Global
Belgium Takes Initiative to Revive EU Blockchain Infrastructure Project
- Belgium’s government states that during its early 2024 presidency of the Council of the European Union, it intends to expedite the creation of a European blockchain infrastructure.
- The issues of online privacy, artificial intelligence (AI), and the skills required for the digital economy will be addressed in the final three projects.
DOJ Flags Binance’s Ex-CEO CZ as a Significant Flight Risk
- Government prosecutors in the US are attempting to prevent CZ from departing the nation due to fears about his possible danger of escape.
- Prosecutors stated in an ancillary letter that the government would not be able to secure Zhao’s return if he chose not to return to the US.
Swiss City of Lugano Integrates Polygon into MyLugano App
- MyLugano is set to launch a new NFT collection celebrating the work of Swiss-based visual artist Yuri Catania.
- The city aims to transform itself into a blockchain hub.
South Korea Pushes Back CBDC Launch to 2024, Calls for 100K in Crucial Testing
- South Korea plans a Q1 pilot for a CBDC involving 100,000 citizens next year.
- The Bank of Korea delays CBDC issuance until the United States and Europe act.
Singapore Imposes Stringent Regulations to Quash Retail Crypto Speculation
- The MAS has rolled out a set of new regulations targeting Digital Payment Token service providers.
- MAS now requires Digital Payment Token service providers to actively discourage cryptocurrency speculation among retail customers.
Platform and Tokens
Atomic Wallet Seeks Dismissal of $100 Million Lawsuit, Citing Lack of US Ties
- Atomic Wallet requests dismissal of a class action lawsuit in the US for a $100m hacking incident.
- Atomic Wallet contends that its ties to the United States are minimal.
SEC files lawsuit against Kraken; alleges mixing user funds
- SEC alleges that Kraken failed to meet registration requirements as a securities exchange, broker, dealer, and clearing agency.
- Kraken has rejected the SEC’s accusations, asserting that it has not listed unregistered securities.
Blockchain Association Challenges OFAC’s Sanctions on Tornado Cash
- Blockchain Association noted that OFAC’s decision to sanction the privacy-centric crypto mixer went beyond its statutory authority.
- Blockchain Association contended that this move was both arbitrary and capricious.
Bittrex Global Halts Trading Activities, Initiates Full Closure Process
- With its main office located in Liechtenstein, Bittrex Global is a cryptocurrency exchange that has declared its closure. December 4 will mark the end of trading.
- Bittrex Global stated that they took great care in making this decision and are aware of the inconvenience it may cause their customers.
Binance Founder CZ: $175M Bail Ahead of Sentencing and Guilty Plea to DOJ Charges
- Before his sentencing on February 23, 2024, Binance founder Changpeng “CZ” Zhao will pay a $175 million release bail and consent to return to the United States for 14 days.
- CZ plans to enter a guilty plea to multiple charges brought against him by the DOJ.
Justin Sun’s HECO Chain Faces $86.6 Million Security Breach
- The Heco Bridge and HTX exchange, affiliated with Justin Sun, have suffered a crypto attack resulting in losses surpassing $100 million
- HECO Chain deposits and withdrawals paused for ongoing security breach investigation.
Sam Bankman-Fried’s Appeal for Release Denied by Appeals Court
- SBF will remain behind bars after his legal team was unable to persuade an appeals court in the US to grant him release while he challenges his conviction.
- The New York court disregarded his claim that he was exercising First Amendment-protected free speech.
Do Kwon’s Extradition Granted by Montenegro Court
- Do Kwon is set to have his extradition to either the United States or South Korea, approved by a Montenegrin court.
- The court ordered that before Kwon can be extradited, he must serve a four-month prison sentence for document falsification in Montenegro.
Binance CZ Challenges DOJ Travel Restrictions Ahead of Sentencing Date
- After entering a guilty plea, CZ has resisted attempts by the US authorities to prevent him from seeing his family in the UAE while he awaits sentencing.
- Despite the possible 18-month prison sentence, the attorneys made it clear that he has no intention of staying in the UAE to avoid his sentencing date.
Project Updates
Kronos Research Faces $26 Million Loss in API Key Security Breach
The stolen funds, valued at $25 million, were redirected to six distinct cryptocurrency wallet addresses. Kronos states the stolen funds do not constitute a significant portion of its equity.
Fantom Foundation Grants $1.7M Bounty for Foiling Potential $170M Drain
Following a $550,000 attack in October, the Fantom Foundation, a nonprofit creating the Fantom blockchain network, has fixed a significant vulnerability. The Fantom Foundation claims that the hacker may have been able to steal $170 million by using the wallet access due to the vulnerability that was found.
KyberSwap Hacker Issues $4.6M Bounty to Recover $46M Stolen Assets
A 10% bounty payment has been extended by the decentralized exchange KyberSwap to the hacker who stole $46 million on November 22. The hacker stole funds from other chains, including Base, Ethereum, Optimism, Polygon, and Arbitrum.
Podcasts and Interviews
- Interview with Kartin Wong, founder of Hyper Oracle
- “WOR Podcast EP.84” podcast by Words of Rizdom
- “Can AI and Crypto Save the US?” podcast by Bankless
Job Listings
- Senior Operations Security Expert | Ethereum Foundation
- Lead Security Engineer | Enya Labs
- Smart Contract Auditor | Netherminds
- Lead Solidity Engineer | Ebay
- UX Engineer and Staff Rust Engineer | Aave
2k23 Events
- Road to Devcon grants deadline on November 30
- ETHVenice on December 4
- Columbia CryptoEconomics workshop from December 6 to December 7
- ETHIndia (Banglore) from December 7 to December 10
- ETHGlobal Pragma from December 7 to December 10
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!
