Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
Ethereum news
- Crypto trading firm Darma Capital launched LiquidStake, a liquidity solution for Ethereum (ETH) 2.0 validators. It allows validators take out a USDC loan against their staked ETH, allowing participants to remain liquid while their ETH is locked on the ETH 2.0 blockchain. (Learn more: Launching Ethereum 2 Phase 0 On December 1 is an ‘Uphill Battle’)
Exchanges news
- Binance said it awarded a USD 200,000 bounty to investigators at the US Department of Justice after they revealed its indictment of two people who were allegedly responsible for an attempted hack of Binance in March 2018. Back then, the exchange offered a USD 250,000 reward for information leading to the arrest of the attackers. “The remaining USD 50,000 to be given once the attackers are in custody,” Binance added.
- Johny Lyu, CEO of the recently hacked KuCoin exchange, said that the company has recovered “84% of the affected assets” via “approaches like on-chain tracking, contract upgrade and judicial recovery.” KuCoin has resumed the full service of 176 tokens and all others are scheduled to be re-opened before November 22, he added.
Blockchain news
- China Construction Bank has partnered with Hong Kong-based fintech company Fusang to launch the sale of USD 3bn worth of debt on a blockchain, the South China Morning Post reported, claiming that this is “the first digital security issued by a Chinese bank on the technology.” (Learn more: CCB Corrects Blockchain Bond Reports…and Says a Big Fat ‘No’ to BTC)
- The municipal government of Busan, South Korea’s second city and biggest port, has set aside a USD 7.1m tranche of next year’s budget for blockchain technology developments as the city begins its post-COVID-19 mitigating efforts in earnest. Per Newsis, the city’s financial heads said the money will be used to bolster the efforts of Busan’s blockchain regulatory sandbox, which has seen a number of leading crypto and blockchain firms relocate to the city. The city also wants to spend money on contact-free tech advances, which may also make use of blockchain technology.
- The Haidian District, in Beijing, could move to ensure lawyers operating in the neighborhood use blockchain technology-powered legal practitioner licenses. Per China Email, the Haidian Justice Bureau will team up with the district’s specialized blockchain adoption unit to issue the paperless permits, providing a “convenience boost” for legal clerks, who are have been bogged down with slow, paper-heavy protocols.
Mining news
- 65 crypto mining farms have been registered in Abkhazia since mining in the country was legalized, according to the EA Daily, quoting the de facto state’s deputy finance minister. As previously reported, Abkhazia recently listed a blanket ban on crypto mining, but imposed new laws that require all miners to register with the government and declare the nature of their activities. Unauthorized mining efforts will be punished, said the deputy minister, with offenders facing fines and mining bans of up to 90 days.
Regulation news
- Former Commodity Futures Trading Commission Chairman Gary Gensler, who is considered to be pro-crypto and blockchain-savvy, has been picked to lead the financial policy transition team for US President-elect Joe Biden.
Decentralization news
- ShareRing, a decentralized sharing economy startup, said that major Japanese online booking platform Rakuten Travel Xchange will integrate into ShareRing’s system. ShareRing’s platform will provide access to Rakuten Travel’s offerings via a self-sovereign identity platform where everything from documents to vehicle information can be stored in one location and only accessible to the traveller, they said in an emailed announcement.
Investments news
- Balancer Labs, the developer of “a protocol and non-custodial portfolio manager designed for programmable liquidity,” said that Pantera Capital and Alameda Research have made an unspecified investment in Balancer through the direct purchase of BAL tokens from the Balancer Labs treasury. “This new funding will help grow the Balancer Labs team as development of Balancer V2 ramps up,” they said.
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