Weekly Update: 14 September 2023
1) FTX court filing reveals $7B in assets as firm aims to complete bankruptcy process by second quarter 2024 [CryptoSlate]
- FTX is eyeing the completion of its bankruptcy process for the second quarter of next year, according to its Sept. 11 court filings.
2) JPMorgan is exploring blockchain-based deposit token for payments, settlements [Bloomberg]
- If approved by regulators, the token could speed up transactions, marking an expansion of JPMorgan’s blockchain push.
3) Change to US accounting rules will be a boon to companies holding crypto in 2025 [Cointelegraph]
- The Financial Accounting Standards Board has recommended recording crypto at fair market value on corporate balance sheets.
4) Financial privacy and regulation can co-exist with ZK proofs — Vitalik Buterin [Cointelegraph]
- A new paper co-authored by Ethereum’s Vitalik Buterin highlights the use of zero-knowledge proofs as a tool for regulatory compliance and on-chain privacy.
5) G20 moves forward with international crypto framework [Cointelegraph]
- The upcoming framework will affect users in several countries by automatically exchanging information about crypto transactions between jurisdictions on an annual basis.
6) MAS approves digital asset exchange AsiaNext as recognised market operator [Fintech SG]
- AsiaNext, a digital asset exchange for institutional investors, announced that it has secured a license as a Recognised Market Operator (RMO) from the Monetary Authority of Singapore (MAS).
7) PayPal rolls out crypto-for-USD conversion service [The Block]
- The payment giant is now rolling out an “off ramp” service so users can seamlessly convert digital currency into dollars.
8) Southeast Asia super-app Grab adds support for web3 services [The Block]
- Grab, a ride-hailing super-app popular in Southeast Asia, has incorporated web3 services.
9) Vitalik Buterin’s X account hacked, over $691K drained from victims’ wallets [Cointelegraph]
- Victims allegedly suffered losses exceeding $691,000 due to a malicious link falsely promoting a free NFT.
10) $500B Korean asset manager Mirae taps Polygon Labs in securities tokenization drive [CoinDesk]
- Mirae Asset Securities is teaming up with Ethereum scaling solution Polygon Labs to develop a tokenized securities network and accelerate adoption of Web3 technologies.
