Weekly Update: 07 September 2023
1) Coinbase stock surges after favorable federal ruling for Grayscale [Cointelegraph]
- In the final moments of the trading session on Aug. 29, the value of COIN stood at $85.13 per share, a jump of 15% over the previous day’s close.
2) Spot bitcoin ETF approval is ‘inevitable,’ says former SEC chairman [The Block]
- “The dichotomy between a futures product and cash product can’t go on forever,” Clayton said.
3) Bitcoin revenue per terahash nears record lows as hash rate soars [Cointelegraph]
- As the Bitcoin network hash rate tops 414 EH/s, miners are struggling to stay afloat amid plummeting profitability.
4) Controversial digital euro plan to be led by architect of landmark MiCA crypto law [CoinDesk]
- The EU’s central bank digital currency has proved controversial, and draft laws include privacy controls.
5) Crypto casino Stake targeted in reported $40M exploit [CoinDesk]
- Cyvers’ platform describes the exploit as being related to a “private key leak.”
6) EOS network’s token receives trading approval in Japan, EOS surges nearly 10% [CoinDesk]
- Under the Payment Services Act, the JVCEA and FSA, two financial bodies, closely monitor and regulate crypto-asset providers.
7) SEC delays spot bitcoin ETF decision for all applicants including BlackRock, Fidelity [CoinDesk]
- The regulator has now announced delays for all six of the new ETF applications.
8) South Korean parliament rejects motion to expel lawmaker over crypto scandal [Cointelegraph]
- South Korean lawmaker and Wemix investor Kim Nam-kuk will stay in the parliament after a 3–3 vote in the expulsion motion.
9) Singapore’s new president, a former central bank chairman, has called crypto ‘slightly crazy’ [CoinDesk]
- The 66-year-old garnered more than 70% of the vote to take over a largely ceremonial role.
10) Swift successfully transfers tokens across blockchains in landmark experiment with Chainlink [CryptoSlate]
- Swift said it has successfully demonstrated that it can provide a single point of access to multiple networks using existing infrastructure.
