Weekly Update: 25 May 2023
1) Malaysia orders Huobi Global to cease operations [CoinDesk]
– The Securities Commission Malaysia has ordered Huobi Global to cease operations, including disabling its website and mobile applications.
2) Visa experiments with Ethereum’s Goerli testnet for account abstraction [The Block]
– Visa is testing transaction-free payments using account abstraction on Ethereum’s Goerli testnet, potentially simplifying user interaction with the Ethereum network.
3) Coinbase expands subscription service outside U.S. [CoinDesk]
– Coinbase One, a zero-fee subscription service, is now available in the U.K., Germany, and Ireland, offering various services including pre-filed tax return documents to U.S. clients.
4) Crypto trading platform Hotbit terminates CEX operations [Decrypt]
– Hotbit has ended all centralized exchange operations due to deteriorating conditions, with a deadline of June 21 for users to withdraw their assets.
5) Dash blockchain halts, Binance Pool suspends mining rewards [CoinDesk]
– Dash blockchain stopped processing transactions due to a failed hard fork, causing a chain split and suspension of mining rewards on Binance Pool.
6) HashKey Group aims to raise up to $200M at $1B valuation [CoinDesk]
– HashKey, an Asia-based digital asset firm, is in talks to raise up to $200M, capitalizing on Hong Kong’s potential as a crypto hub.
7) Hong Kong regulator to accept crypto exchange license applications from June 1 [CoinDesk]
– The SFC will begin accepting crypto trading platform license applications starting June 1, with new guidelines in place.
8) Singaporean family office to set up digital bank in Bahrain [Cointelegraph]
– Whampoa Group plans to open a digital bank in Bahrain by year-end, offering services including digital asset trading and custody.
9) Tornado Cash’s TORN token up 10% as attacker submits proposal to undo attack [CoinDesk]
– TORN token price rose by 10% after an attacker proposed to reverse the malicious changes made to the Tornado Cash’s DAO governance state.
10) Web3 move-to-earn app STEPN integrates Apple Pay for in-game purchases [CoinDesk]
– STEPN, a Web3 move-to-earn game, has integrated Apple Pay, allowing users to purchase in-game NFT sneakers without a crypto wallet.
