Weekly Update: 15 Dec 2022
1) Binance withdrawals surge as concerns about its reserve report spook traders [Coindesk]
– Binance endured a wave of withdrawals on Monday amid concerns about its proof of reserve report. Its net outflows hit $902 million, according to Nansen.
2) The Royal Bahamas Police Force arrested FTX founder Sam Bankman-Fried[Coindesk]
– SBF was arrested in reference to various financial offenses against laws of the United States.
3) Algorand to support bank and insurance guarantees platform in Italy [Cointelegraph]
– Layer-1 blockchain platform Algorand has been chosen as the public blockchain to support an “innovative digital guarantees platform” in Italy’s banking and insurance markets.
4) CSOP Bitcoin Futures ETF and CSOP Ether Futures ETF to list on HKEX [Yahoo Finance]
– CSOP Bitcoin Futures ETF (3066.HK) and CSOP Ether Futures ETF (3068.HK) will be listed on the Hong Kong Stock Exchange on 16 December 2022 as Asia’s first listed Bitcoin and Ether futures ETFs.
5) Ethereum developers target March 2023 for release of staked Ether [Coindesk]
– Ethereum developers determined that the network’s next hard fork, called “Shanghai,” will have a target release time frame of March 2023.
6) FTX’s Sam Bankman-Fried charged with criminal fraud, conspiracy [Wall Street Journal]
– An indictment by the U.S. attorney’s office for the Southern District of New York, unsealed Tuesday, charges Mr. Bankman-Fried with eight counts of fraud.
7) Starbucks launches Beta of Web3 ‘Odyssey’ loyalty program [Coindesk]
– Starbucks’ Odyssey program combines customer loyalty rewards with NFT collecting and other gamified elements. The company will send monthly invitations beginning in January.
8) US prosecutors to charge Binance, executives on possible money laundering violations [Reuters]
– The Treasury will launch a consultation on the new regulatory regime, which may include provisions on dealing with the collapse of companies and restrictions on product advertising.
9) Nillion raises over $20 million to build new web3 infrastructure [TechCrunch]
– Nillion, a web3 startup aiming to build a non-blockchain decentralized network, closed an oversubscribed round of more than $20 million.
