Weekly Update: 20 Apr 2023
1) Gary Gensler refuses to answer if ETH is a security: SEC hearing [Cointelegraph]
– SEC Chair Gary Gensler has said the SEC considers Bitcoin a commodity but refused to pin down Ether at an oversight hearing.
2) NY Financial Regulator adopts virtual currency assessment rule [CoinDesk]
– The regulation affects only companies with a state-issued BitLicense.
3) Crypto exchange Luno to withdraw from Singapore [CoinDesk]
– The firm will stop serving customers in the city state on June 20.
4) Gnosis Chain spends $5M on validator incentive program for decentralization [Cointelegraph]
– The program offers 388 mGNO to each of the first ten validators that runs in a listed country.
5) Hundred Finance loses $7 million in Optimism hack [Cointelegraph]
– The attacker reportedly manipulated the exchange rate between ERC-20 tokens and hTOKENS to steal over $7 million from the protocol.
6) Lido considers using its ARB airdrop to boost activity on Arbitrum [CoinDesk]
– Under a new proposal Lido would accept its $1.2 million in ARB tokens and reward them to liquidity providers in wrapped staked ether pools.
7) Olympus DAO votes to buy more ETH for treasury backing OHM token [CoinDesk]
– The rebalancing comes as Ether rallies off a successful Shapella upgrade.
8) Rocket Pool made it cheaper to stake ETH through its platform following Ethereum Shanghai upgrade [CoinDesk]
– The staking protocol gave users access to their staking rewards and lowered the barrier of entry to create an Ethereum validator.
9) Safemoon hacker strikes deal with developers to return $7.1M [CoinDesk]
– The exploiter will retain 20% of the stolen funds as a bug bounty.
10) Bitcoin financial services firm Unchained Capital raises $60M [CoinDesk]
– The Series B funding comes about five months after the company cut 15% of its staff amid the pressures of the prolonged crypto bear market.
