Daily Web3 Headlines You Need To Know
02 November #NFT #DeFi&Trading #Policy&Law
🖼 NFT
Now Anyone Can Create an Ethereum NFT DAO With Zora’s Nouns Builder
Ethereum project Nouns created a new kind of on-chain organization, using a daily NFT auction to cultivate community and open-source IP — and has raised tens of millions of dollars worth of ETH to date. Now, NFT platform Zora is expanding that model, empowering almost anyone to create an NFT-driven DAO for nearly any project…(Read More)
NFT sales decline for sixth straight month despite tailwinds
Non-fungible token (NFT) sales in October fell for the sixth straight month, failing to break US$500 million in sales for the first time since July 2021, according to NFT aggregation site CryptoSlam. Sales reached only US$460 million for the month, representing a roughly 90% drop from the record US$4.7 billion…(Read More)
📈 DeFi / Trading
Deribit crypto exchange halts withdrawals amid $28M hot wallet hack
Major cryptocurrency derivatives exchange Deribit has halted withdrawals after suffering a $28 million hot wallet hack. Deribit exchange got its hot wallet compromised before midnight UTC on Nov. 1, the firm reported on Twitter. As part of the ongoing security checks, Deribit had to halt withdrawals, including custodians Copper Clearloop and Cobo…(Read More)
Bitcoin on-chain data flashes early signs of the BTC bottom being in
While Bitcoin price support may be psychological for some traders, the statistics behind BTC remaining over $20,000 for a week are strong indicators of price support or, in other words, a new bear market floor. Multiple Bitcoin data points might be able to establish a $20,000 support level. Last week, Bitcoin reached a high of $20,961. However, it never sustained its upward momentum as the rally fizzled out…(Read More)
⚖️ Policy & Law
Judge orders probe to investigate whether Celsius was a Ponzi
The judge overseeing the Celsius bankruptcy case has ordered the examiner and the official committee of Celsius creditors to determine who will head a probe into whether the firm was operating like a Ponzi scheme. The order during the Nov. 1 hearing comes in response to allegations from customers that Celsius had used assets of new users to pay yields and facilitate withdrawals to existing users, and as a result, fits the legal definition of a Ponzi scheme…(Read More)
Stablecoin issuers Circle and Paxos gain approvals in Singapore
Stablecoin issuers Circle and Paxos have each received approvals for their respective licenses from the Monetary Authority of Singapore (MAS), the city-state’s central bank. Circle received in-principle approval for a Major Payments Institution License allowing it to issue cryptocurrencies and facilitate domestic and cross-border payments while Paxos received its license to offer digital payment token services…(Read More)
Singapore bank DBS uses DeFi to trade FX and state securities
DBS Bank, a major financial services group in Asia, is applying decentralized finance (DeFi) for a project backed by Singapore’s central bank. DBS has started a trading test of foreign exchange (FX) and government securities using permissioned, or private, DeFi liquidity pools, the firm announced on Nov. 2…(Read More)
DFSA Publishes List of “Recognised Crypto Tokens” as Changes Take Effect
The Dubai Financial Services Authority (DFSA) announced its initial list of ‘Recognised Crypto Tokens’ on Tuesday, changing its current regulatory regime concerning the crypto industry. The list includes Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). The DFSA defines a cryptocurrency token as a token that is used as a medium of exchange…(Read More)
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