Weekly Update: 18 May 2023
1) Ethereum finality issues patched [The Block]
– Beacon chain finality issues resolved with updates for Prysm and Teku clients that previously caused the network to halt block finalization twice.
2) FedNow to integrate with Metal blockchain [Cointelegraph]
– FedNow, the Federal Reserve’s instant payment service, merges with Metal blockchain, enabling swift, secure transactions of digital dollars for financial institutions.
3) Binance exits Canada due to regulatory issues [CoinDesk]
– Citing stringent regulatory guidance, Binance opts to leave Canada, delivering a substantial blow to the country’s crypto industry.
4) BlockFi to liquidate crypto lending platform, faces over $1B in litigation [Blockworks]
– Amid bankruptcy proceedings, BlockFi moves to shut down its lending platform to repay creditors, with lawsuits against FTX, Alameda, and Three Arrows Capital.
5) Crypto startup launches marketplace for locked-up DeFi assets [CoinDesk]
– Hourglass enables trading of Time-Bound Tokens (TBTs), providing immediate access and trading opportunities for these typically unavailable assets.
6) EU Finance ministers approve MiCA crypto regulation [Cointelegraph]
– EU finance ministers endorse MiCA, a comprehensive regulatory framework overseeing trading, custody, and lending within the EU crypto industry.
7) G7 Finance ministers discuss crypto regulation [CoinDesk]
– G7 finance ministers pledge adherence to standards set by FSB and IMF concerning crypto and central bank digital currencies.
8) Ledger crypto wallet under fire over seed phrase recovery service [Decrypt]
– The new service raises security breach fears despite Ledger’s assurance of encrypted storage and multi-step verification.
9) Optimism plans mainnet Bedrock upgrade [The Block]
– Optimism prepares for Bedrock upgrade on June 6, aimed at enhancing performance, security, and developer experience.
10) South Korea probes crypto exchanges [CoinDesk]
– Upbit and Bithumb, South Korea’s leading crypto exchanges, are under investigation over money laundering allegations involving ex-lawmakers.
