Weekly Update: 10 August 2023
1) Regulators say SEC will appeal XRP ruling in case against Ripple, regulator says [CoinDesk]
– A federal judge ruled that while Ripple’s direct sales of XRP to institutional investors violated securities law, its programmatic sales to retail investors through exchanges did not.
2) Temasek, Sequoia Capital, Softbank, leading VCs face lawsuit for “abetting” FTX fraud [Cointelegraph]
– The lawsuit alleged that the VC firms made many deceptive and misleading statements about FTX while encouraging customers to invest in the exchange for their personal gain.
3) Aave’s Earning Farm protocol targeted by reentrancy attack — PeckShield [Cointelegraph]
– According to the blockchain security firm, Aave’s Earning Farm was compromised by a reentrancy attack on Aug. 9.
4) Coinbase officially launches Base blockchain in milestone for a public company [CoinDesk]
– The largest U.S. crypto exchange says its blockchain is the first to be launched by a publicly traded company and gives it a new revenue opportunity.
5) Hong Kong officially opens crypto trading to retail investors, grants first licenses to HashKey, OSL [CoinDesk]
– OSL Digital Securities said retail investors can register to trade BTC and ETH effective immediately.
6) Microsoft, Aptos Labs team up on new blockchain AI tools [CoinDesk]
– The price of Aptos’ token is surging on news of the collaboration.
7) OPNX exchange bids for crypto lender Hodlnaut in Singapore: Report [Cointelegraph]
– If approved, the deal would see a capital injection of nearly $30 million worth of FLEX tokens into Hodlnaut to partially cover creditors’ payout and outstanding claims.
8) PayPal launches a stablecoin in latest crypto payments push [Bloomberg]
– Paxos Trust will issue PayPal USD, a dollar-pegged stablecoin. Despite stablecoins’ potential, their adoption in consumer payments remains limited.
9) Singapore commits $112M to support fintech solutions like Web3 [Cointelegraph]
– Singapore’s central bank recognized the importance of partnering with industry players to support solutions from emerging technologies like Web3.
10) Worldcoin Nairobi warehouse raided by Kenyan police: Reports [CoinDesk]
– The project failed to reveal its true intentions when it registered in the country, authorities say.
