CoinCodeCap WeekInFocus: September 3, 2023

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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.



Hong Kong officially launches first licensed crypto exchange

  • HashKey Exchange, Hong Kong’s inaugural licensed retail virtual asset exchange, has been officially introduced.
  • The exchange facilitates direct transfers in USD and HKD from bank accounts and features trading pairs such as BTC/USD, ETH/USD, and USDT/USD.

South Korean Parliament Rejects Motion to Expel Lawmaker Amid Crypto Scandal Controversy

  • The parliamentary ethics subcommittee of South Korea rejected a motion to dismiss Kim Nam-kuk.
  • The panel rejected the plan after a 3-3 tie vote between the DP and the ruling PPP.

SEC Delays Ruling on Six Bitcoin Spot ETF Applications

  • Six applications for spot Bitcoin exchange-traded funds (ETFs) have been postponed by the SEC of the United States. 
  • After the SEC lost a significant court lawsuit brought by asset manager Grayscale, there was anticipation that the agency could finally authorize a spot Bitcoin ETF in the United States.

China’s Courts Extend Legal Protection to Crypto Investors

  • The report solidifies the status of virtual assets as legal property deserving protection under Chinese law
  • The report argues that crypto crimes should be based on the unification of criminal and civil law.

Ripple Strikes Back: Defends XRP Decision Against SEC Appeal

  • In its complaint against the US SEC, lawyers for Ripple have argued that the authority hasn’t satisfied the prerequisites to ask for an appeal.
  • The SEC claimed there was “substantial ground for differences of opinion” about the statutes in question at the time.

Platform and Tokens

Hashdex Enters Fray for BTC ETF Approval Amidst Regulatory Anticipation

  • Hashdex plans to acquire spot Bitcoin via physical exchanges within the Chicago Mercantile Exchange (CME) market.
  • Hashdex intends to include spot Bitcoin in its Bitcoin futures ETF and modify its ticker to Hashdex Bitcoin ETF.

Ripple vs Sec : lawyer calls for Hinman testimony 

  • Legal expert John E. Deaton criticizes SEC’s “aiding and abetting” charges against Ripple’s Brad Garlinghouse.
  • Deaton believes SEC’s case could have been prevented by allowing former officials William Hinman and Jay Clayton to testify on XRP’s non-security status.

Solana-Based Smart Contract Project Clockwork to Cease Operations

  • The development network and mainnet nodes will be shut down by October 31. 
  • The company’s code will remain open-source and free to access on GitHub.

CoinSwitch follows CoinDCX’s suit, lays off 40 plus employees

  • CoinSwitch cited redundancy in roles due to a lack of customer queries owing to the ongoing bear market.
  • The reduction reportedly represents about 8% of CoinSwitch’s workforce.

Grayscale’s Legal Victory: Paving the Way for Bitcoin ETFs

  • Grayscale triumphs over the SEC, advancing Bitcoin ETF prospects.
  • Legal victory accelerates potential mainstream Bitcoin investment.

SBF Trial: DOJ demands additional info, deems his Prison Tech “Inconvenient”

  • DOJ filing seeks the defendant to procure “additional notice” and “pretrial discovery.”
  • Prosectors state tech restrictions imposed on SBF are merely “inconveniences” that have not hindered his defense preparation.

Uniswap Triumphs as Judge Dismisses Class-Action Suit Over Token Scam Losses

  • The lawsuit against Uniswap Labs and its CEO, foundation, and venture capital supporters was dismissed by the United States District Court for the Southern District of New York.
  • The judge demonstrated a rare mastery of DeFi technology and advised the defendants to take their grievances to Congress instead.

Bitwise Pulls Bitcoin and Ether Market Cap ETF Proposal

  • Bitwise submitted a request to withdraw its exchange-traded fund (ETF) application for its Bitcoin and Ether Market Cap Weight Strategy.
  • Bitwise Chief Investment Officer Matt Hougan argued for SEC approval for all ETFs.

Project Updates

Pepe team reveals $15 million  theft from former members 

Pepe confirms ex-team members as culprits in the $15 million theft from the multisig wallet. Stolen actions led to around 16 trillion $PEPE tokens being sent to various crypto exchanges: OKX, Binance, Kucoin, and Bybit.

Elon Musk’s X Obtains Licenses for Crypto-Inclusive Payments

The social media platform X, formerly known as Twitter, has recently received payment licenses from several US jurisdictions, including a currency transmitter license in Rhode Island. If X introduces payment functions, it is still unknown precisely what financial services will be made available.

Launch of Uniswap v4 Following Ethereum Dencun Upgrade

After the Ethereum London upgrade, Uniswap v4 will be released, according to Uniswap Labs’ announcement from September 2. The London update is now being tested on the testnet. The concentrated liquidity model of Uniswap V3 is the foundation for V4, which also includes upgrades like the ability to use hooks, singleton contracts, flash accounts, native ETH support, ERC-1155 account support, improved governance features, and a donation feature. These modifications are meant to increase Uniswap’s adaptability and composability.

Podcasts and Interviews

  • “The Last Crypto Circle” podcast by Bankless
  • “Crypto Mindset On The END Of USD?” podcast by FreshandFit
  • “The Chopping Block” podcast by Unchained Podcast

Job Listings

Looking for an internship? Don’t worry; we’ve got you covered this week.

2k23 Events

  • ETHAccra hackathon from September 7 to September 9
  • Ethereum Singapore hackathon and conference from September 10 to September 12
  • Dappcon Berlin from September 11 to September 13
  • Protocol Berg Berlin on September 15
  • ETHChicago conference & hackathon from September 15 to September 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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