Tuesday October 3, 2023
◾ UBS launched a live pilot of for a tokenized fund in Singapore. (UBS)
◾ The Federal Reserve blamed Silvergate Bank’s concentration in the crypto industry, rapid growth, and multilayered funding for leading to the bank’s voluntary liquidation. (FederalReserve)
◾ The EC’s vice-president for values and transparency warned that the block’s impending AI legislation should not be based on “dystopian” concerns. (FT)
◾ Bloomberg prepared an interesting timeline showing the rise and fall of Sam Bankman-Fried ahead of his trial start. (Click to see full time line)
Government & NGO Actions
◾ The Governor of the Bank of Portugal called for international cooperation to regulate crypto-assets saying “it would be short-sighted to believe that regulating [digital assets] at the national level will suffice.” (PublicNow)
◾ Indian’s telecom regulator is seeking industry input to help develop a regulatory framework for the Metaverse. (EconomicTimes)
Public Company Releases
◾ 9 ETFs began trading Ethereum futures on Monday. (Decrypt)
◾ BitFarms (BITF) mined 411 bitcoin (6.1 EH/s) selling 362 last month. (GlobeNewsWire)
◾ Cipher Mining produced 416 bitcoin selling 382 and ending September with 556 BTC on its balance sheet. (GlobeNewsWire)
◾ Digihost (DGHI) mined 85 bitcoin in September. (GlobeNewsWire)
Restructuring, Losses and Legal News
◾ Celsius told its bankruptcy judge it wants to repay customers whose funds have been frozen on the platform since June 2022 a portion of what they’re owed by year’s end. (Bloomberg)
◾ A class action lawsuit has been filed against Binance and Changpeng Zhao accusing the digital asset exchange of engaging in unfair competition and violations of SEC laws for attempting to monopolize the cryptocurrency platform market by hurting the competitor trading platforms operated by the FTX. (CourtFiling)
◾ The class action law suit against Terraform Labs and Do Kwon was voluntarily dismissed – no reason was given for the dismissal. (CourtFiling)
◾ Blockchain analytics firm Chainalysis is eliminating 150 out of 900 jobs. (Forbes)
◾ Payment blockchain and smart contract platform Chia announced the reduction of 26 positions. (X)
Protocols, Applications & Business News
◾ Grayscale announced plans to convert the Grayscale Ethereum Trust to an ETF. (GlobeNewsWire)
◾ Brazilian investment bank BTG Pactual is buying digital brokerage firm Órama for $98 million. (ValorInveste)
◾ Crypto miners in Kazakhstan — the world’s third-largest market in terms of Bitcoin mining hash rate — have asked the country’s President to lower energy subsidies on crypto miners. (Cointelegraph)
◾ YouTube influencer Mr. Beast tweeted a warning of his own AI deepfake offering an Apple iPhone 15 giveaway. (X)
Market Data
◾ Bitcoin’s difficulty inched up into positive territory increasing 0.35% in its latest adjustment. (Btc.com)
Thoughts on the Ecosystems
◾ JP Morgan (JPM) CEO Jamie Dimon believes generative AI could lead to a 3.5 day workweek. (Bloomberg)