Weekly Update: 17 August 2023
1) Europe’s first spot Bitcoin ETF lists in Amsterdam [CoinDesk]
– Jacobi first won approval for the fund in October 2021 with plans to list it in 2022. However, the firm opted to push back its plans due to inopportune circumstances elsewhere in the digital asset market.
2) Singapore’s central bank releases stablecoin regulatory framework [CoinDesk]
– Stablecoins must hold minimum base capital of 1 million Singapore dollars ($740,000) and provide redemption within no more than five business days of a request.
3) Binance Connect shutting down on Aug. 16 [Cointelegraph]
– A spokesperson said the move came in response to “changing market and user needs.”
4) Binance Labs invests $10M to accelerate Helio Protocol’s liquid staking pivot [Decrypt]
– LSDfi is a fast growing space within DeFi. Now Binance is throwing capital into it.
5) CFTC charges residents of Florida, Louisiana, Arkansas with crypto fraud [Cointelegraph]
– The regulatory body claims the defendants enticed over 14,000 individuals by creating false weekly returns.
6) Curve Finance vows to reimburse users after $62M hack [Cointelegraph]
– The platform said it would assess each impacted user for reimbursement.
7) FDIC crypto warning underlines U.S. banking agencies’ arm’s-length policy [CoinDesk]
– The Federal Deposit Insurance Corp. formally added crypto to its annual report on risks facing U.S. banks and says it’s set for “robust” talks about digital assets with bankers.
8) Senator Lummis files amicus brief supporting Coinbase’s dismissal motion against SEC [Cointelegraph]
– Senator Cynthia Lummis argued that the SEC is attempting to “circumvent the political process” by establishing itself as the main authority on crypto.
9) Zunami Protocol confirms stablecoin pools attacked, $2.1M loss estimated [Cointelegraph]
– Blockchain security firm PeckShield estimates the protocol suffered more than $2.1 million from the price manipulation attack.
10) $DAI in DSR reached $1.3 billion, up $1 billion in a week [TokenInsight]
– The DSR increase to 8%, then 5%, attracted $1.04 billion to MakerDAO’s sDAI, while Aave’s proposal seeks to integrate sDAI for higher yield stablecoins through collateral in their V3 Ethereum pool.
