WeekInFocus is your ally in plugging in the gaps in the news you might have missed during the course of the previous week. Beyond that, it serves as a catalyst for your professional and personal development by introducing you to new ideas and exciting job opportunities. Join us in accepting both what is occurring and what is conceivable.
News
Global
Philippines To Launch Wholesale CBDC Within Two Years
- Remolona clarified that the CBDC would not utilize blockchain or distributed ledger technology.
- Central bank to use the Philippine Payment and Settlement System, which is owned and operated by the BSP for CBDC.
South Korea’s FIU Tightens Grip on Crypto Exchanges, To Expel ‘Unfit’ Firms
- FIU’s ‘2024 work plan’ aims to safeguard the Korean market from unauthorized exchanges and enhance anti-money laundering protocols
- FIU’s plan involves assessing exchanges for money laundering risks, user protection measures, and operational capabilities in the domestic market.
South Korea Shaken by Alleged Celebrity Crypto Scandal
- An alleged cryptocurrency scandal involving numerous well-known celebrities and YouTubers and the marketing of a fraudulent scheme has impacted South Korea.
- The National Police Agency was notified of the program, which had previously been disclosed to the National Civil Service.
Japan Regulators Recommended: Halt Fiat-to-Crypto P2P Transfers
- Japan’s main financial regulator, the FSA, has recommended a number of steps to shield customers against “unlawful transfers” to crypto exchanges.
- Banks are urged to “further tighten their user’s protection” by the FSA and the National Police Agency (NPA).
Honduran Banks Barred from Dealing with Crypto, Regulatory Authority Announces
- Financial institutions in Honduras are not permitted to handle cryptocurrency, according to a resolution published by the CNBS.
- The resolution stated that because cryptocurrency is unregulated, it can be used for money laundering, fraud, and terrorism financing.
Platform and Tokens
SafeMoon CEO Out on Bail Amid Legal Team Withdrawal Concerns
- Federal prosecutors had objected to Karony’s bail, citing concerns about community safety.
- The decision by Karony’s lawyers at Petrillo Klein & Boxer to withdraw from representing him was influenced by the lack of funds.
Changpeng Zhao’s Binance Sentencing Delayed Until April
- Seattle Court Extends Binance Founder Changpeng Zhao’s Sentencing Timeline by Two Months.
- Binance’s CZ can not travel outside the US by April-end.
Digitex CEO Faces Federal Charges for Alleged Bank Secrecy Act Violations
- The indictment states that the founder has publically refused to implement KYC policies for Digitex Futures.
- The indictment alleges that from January 2018 to April 2022, Todd sold unregistered futures contracts to customers of Digitex Futures.
New York Court Approves Genesis to Sell $1.6B Bitcoin and ETH Trust Shares
- The sale of 1.6 billion Bitcoin and Ethereum (ETH) trust shares has been approved by a New York court for cryptocurrency lender Genesis.
- Roughly $1.38 billion is the value of the Bitcoin shares. At current exchange rates, the total value of the Ethereum and ETH classic trust shares is about $207 million.
NIST Probes Binance Trust Wallet App for Potential Vulnerability
- Concern arises because the app generates mnemonic words that can only be verified at the entropy source
- NIST will assign a base score to the vulnerability, indicating its severity on a scale of 0 to 10.
Jupiter’s Crypto Investment Plan Axed by Compliance Team, Asset Manager Faces Setback: Report
- The FT said that JUN was forced to abandon an investment in a crypto ETP because of a compliance problem.
- The report states that the investment was canceled at a loss of $834 after being reported by the corporation through its “regular oversight process.”
GoFundMe Terminates Tornado Cash Legal Fundraising
- GoFundMe cancels fundraiser for founders of Tornado Cash amid US charges.
- GoFundMe cites terms violation highlighting a potential risk of harm exposure to the platform.
VanEck Settles with SEC for $1.75M Over BUZZ ETF Launch
- VanEck Associates has agreed to pay $1.75 million to resolve allegations from U.S SEC
- VanEck failed to disclose a social media influencer’s role in the launch of its new exchange-traded fund
Celsius Pays $2 Billion in Crypto to Creditors
- Nearly 75% of the crypto set to be distributed through PayPal/Venmo and Coinbase has already been collected by eligible creditors.
- 20,500 BTC and 301,000 Ether tokens have been distributed among eligible creditors.
Project Updates
Bakkt Receives Green Light for $150M Securities Sale
The cryptocurrency startup Bakkt claims that regulators have given it permission to sell up to $150 million worth of securities. In one or more offers spread over three years, Bakkt stated that permission would enable it to raise a total of $150 million in capital.
Telefónica Partners with Chainlink to Bolster Security Against SIM-Swap Attacks
Telefónica has partnered with Web3 Oracle supplier Chainlink to strengthen defenses against SIM swaps. The integration enables access to operator networks through a framework of common network APIs and Chainlink data verification from various sources.
Coinbase Donates $3.6 Million to Brink to Support Bitcoin Developer Community
$3.6 million donation was facilitated through GiveCrypto, an initiative by Coinbase designed to provide cryptocurrencies to those in need. Funds will be used to support the ongoing development efforts of Bitcoin engineers.
Podcasts and Interviews
- Interview with Kartin Wong, founder of Hyper Oracle
- “Bitcoin Breaks $1 Trillion Market Cap” podcast by Scott Melkar
- “Is FOMO About To WRECK Investors!” podcast by Crypto Banter
Job Listings
2k24 Events
- ETHDenver BUIDLWeek & hackathon from February 23 to March 3
- ETHLatam (San Pedro Sula, Honduras) from March 13 to March 14
- ETHGlobal London from March 15 to March 17
- ETH Canal conference & hackathon from March 19 to March 21
- ETHTaipei conference & hackathon from March 21 to March 24
As we wrap up another week of insights and discoveries, remember that staying informed and motivated is an ongoing journey. WeekInFocus by CoinCodeCap is here to accompany you on this path, bringing you a fresh perspective on the news, a doorway to exciting job possibilities, and a collection of thought-provoking podcasts. Let’s embrace the coming week with curiosity and determination. Until next time, keep focused and keep thriving!
Deep
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