TL;DR Breakdown Moroccan national, Soufiane Oulahyane, indicted for orchestrating a $450,000 crypto and NFT heist by creating a deceptive replica of the OpenSea marketplace. Oulahyane allegedly used a fraudulent website and paid advertisements to trick unsuspecting victims into providing their login credentials, enabling him to gain unauthorized access to their accounts. The stolen digital assets included a highly sought-after Bored Ape NFT and resulted in charges of wire fraud, unauthorized access device usage, and aggravated identity theft against Oulahyane, who awaits potential extradition to the United States. Description Soufiane Oulahyane, a Moroccan individual, has been indicted by the United States Attorney for the Southern District of New York on charges related to a significant cryptocurrency and non-fungible token (NFT) heist. The indictment alleges that Oulahyane orchestrated a complex scheme by creating a deceptive replica of the renowned OpenSea digital marketplace, ultimately stealing digital … Read more Soufiane Oulahyane, a Moroccan individual, has been indicted by the United States Attorney for the Southern District of New York on charges related to a significant cryptocurrency and non-fungible token (NFT) heist. The indictment…

TL;DR Breakdown Circle CEO Jeremy Allaire suggests that Chinese Yuan (CNY)-backed stablecoins could be a more effective tool for internationalizing the currency than central bank digital currencies (CBDCs). While China’s economic policy and capital controls pose obstacles, experts believe there may be incremental moves to increase the use of the yuan in trade, but radical changes are unlikely. Hong Kong is taking steps to regulate stablecoins, with the Hong Kong Monetary Authority (HKMA) planning to introduce regulations by 2024, aiming to become a global virtual asset hub. Description In a recent interview with the South China Morning Post, Circle CEO Jeremy Allaire advocated for introducing Chinese Yuan (CNY)-backed stablecoins to facilitate the currency’s internationalization. Allaire argued that stablecoins could be a more effective means than central bank digital currencies (CBDCs) to achieve this goal. While acknowledging the complimentary nature of stablecoins and CBDCs, … Read more In a recent interview with the South China Morning Post, Circle CEO Jeremy Allaire advocated for introducing Chinese Yuan (CNY)-backed stablecoins to facilitate the currency’s internationalization. Allaire argued that stablecoins could be a more…

TL;DR Breakdown Goldman Sachs predicts that India will surpass the United States to become the second-largest economy by 2075, trailing only China. India’s favorable demographics, including a large working-age population, and increased capital investment are expected to drive its future economic growth. Challenges include the need to boost labor force participation, particularly among women, and address the current account deficit and net exports drag on India’s growth. Description Goldman Sachs Research has projected that India’s economy is on track to surpass the United States and become the second-largest in the world, trailing only China within a few decades. According to the investment bank’s analysis, India is expected to claim the third position by 2075, with a gross domestic product (GDP) estimated to reach … Read more Goldman Sachs Research has projected that India’s economy is on track to surpass the United States and become the second-largest in the world, trailing only China within a few decades. According to the investment bank’s analysis, India is expected to claim the third position by 2075, with a gross domestic product (GDP) estimated to…

TL;DR Breakdown US Federal Reserve introduces stricter capital regulations for banks with assets over $100 billion. New rules aim to enhance financial stability and risk management, following earlier bank failures. The requirements include transparency in reporting asset losses and heightened capital buffers. Description A shake-up is in store for U.S. banking, following the revelation of more rigid capital regulations targeting large lenders. This move, orchestrated by the Federal Reserve, aims to buttress a financial framework made vulnerable by the collapse of several regional banks earlier in the year. Beefing up the financial bulwarks The Federal Reserve’s vice-chair for … Read more A shake-up is in store for U.S. banking, following the revelation of more rigid capital regulations targeting large lenders. This move, orchestrated by the Federal Reserve, aims to buttress a financial framework made vulnerable by the collapse of several regional banks earlier in the year. Beefing up the financial bulwarks The Federal Reserve’s vice-chair for supervision, Michael Barr, has introduced a series of regulatory adjustments applicable to institutions possessing $100 billion or more in assets. These revised stipulations mandate…

TL;DR Breakdown The collaboration involves Axelar joining Microsoft’s Azure marketplace, marking it as the first cross-chain protocol to be listed on the popular developer’s online store. Through the Azure marketplace, developers will be able to leverage Axelar’s tools, such as the AxelarJS software development kit (SDK) and its general message-passing capabilities.  Microsoft’s Azure marketplace currently hosts over 25,000 applications and services for developers and businesses. Description Axelar, a cross-chain protocol, and tech giant Microsoft recently announced a partnership aimed at bridging public and private blockchains. The collaboration involves Axelar joining Microsoft’s Azure marketplace, marking it as the first cross-chain protocol to be listed on the popular developer’s online store. By joining the Azure marketplace, Axelar gains access to a vast network … Read more Axelar, a cross-chain protocol, and tech giant Microsoft recently announced a partnership aimed at bridging public and private blockchains. The collaboration involves Axelar joining Microsoft’s Azure marketplace, marking it as the first cross-chain protocol to be listed on the popular developer’s online store. By joining the Azure marketplace, Axelar gains access to a vast network of…

TL;DR Breakdown Arkham Intelligence, known for its mission to ‘deanonymize the blockchain’, faces scrutiny over its legitimacy and affiliations. The company’s controversial Arkham ICP Report in 2021, accusing DFINITY’s Internet Computer network of being a pump-and-dump scheme, raised questions due to its lack of solid evidence. Speculations suggest that Arkham might have been commissioned to produce the defamatory report, potentially by a competitor. Description In the latest online buzz surrounding Arkham Intelligence, a company making waves in the world of cryptocurrency, questions arise about its legitimacy and transparency. The crypto community is filled with chatter about the questionable practices and unclear affiliations of this rapidly growing blockchain enterprise. The Arkham saga Arkham, rising to prominence with its aggressive mission … Read more In the latest online buzz surrounding Arkham Intelligence, a company making waves in the world of cryptocurrency, questions arise about its legitimacy and transparency. The crypto community is filled with chatter about the questionable practices and unclear affiliations of this rapidly growing blockchain enterprise. The Arkham saga Arkham, rising to prominence with its aggressive mission to ‘deanonymize the…

TL;DR Breakdown Find Satoshi Lab, the team behind STEPN, unveils Gas Hero, a Web3 video game set in a post-apocalyptic world after an AI-induced apocalypse. Gas Hero introduces a user-generated content contest, offering a prize pool of $431,400 in GMT tokens and creator royalties for designing Genesis Hero NFTs. The three-month contest will have three phases, with participants creating designs for various character codenames, aiming to win royalties, GMT tokens, and recognition in the Gas Hero game. Description Find Satoshi Lab (FSL), the team behind the blockchain-powered fitness app STEPN, has launched their latest project – Gas Hero. The game, set in a post-apocalyptic world devastated by artificial intelligence, aims to combine strategy, decentralized elements, and community engagement. To celebrate the game’s reveal, FSL has organized a user-generated content contest with a prize … Read more Find Satoshi Lab (FSL), the team behind the blockchain-powered fitness app STEPN, has launched their latest project – Gas Hero. The game, set in a post-apocalyptic world devastated by artificial intelligence, aims to combine strategy, decentralized elements, and community engagement. To celebrate the game’s…

TL;DR Breakdown Ankr introduced Ultra Sound Infrastructure to Web3 developers to provide high-performance connections to blockchains globally.  The Ultra Sound Infrastructure provides a globally distributed network of nodes from a number of node provider partners, such as Microsoft and Tencent Cloud. The initiative is aligned with Ankr’s mission to onboard the next billion users to web3. Description Since the Bitcoin boom, blockchain technology has spread to other industries, including Web3, and Ankr has profited immensely as a result. Despite the fact that Web3 infrastructure is still in its infancy, many businesses are looking into the future of databases. With that in mind, Ankr’s new Ultra Sound Infrastructure could be a game-changer for … Read more Since the Bitcoin boom, blockchain technology has spread to other industries, including Web3, and Ankr has profited immensely as a result. Despite the fact that Web3 infrastructure is still in its infancy, many businesses are looking into the future of databases. With that in mind, Ankr’s new Ultra Sound Infrastructure could be a game-changer for decentralized applications (dApps). Ankr graces the crypto – Web3 market…

TL;DR Breakdown Paradigm’s special counsel, Rodrigo Seira, criticizes the SEC for overstepping its authority in pursuing a lawsuit against Bittrex, a crypto exchange. Seira argues that the SEC’s authority doesn’t extend to crypto assets because they do not involve investment contracts, meaning they fall outside the SEC’s jurisdiction. The lack of clear regulation creates uncertainty for crypto businesses looking to register and comply with SEC regulations. Description The U.S. Securities and Exchange Commission (SEC) has come under fire for its recent lawsuit against Bittrex, a U.S.-based crypto exchange. Rodrigo Seira, Special Counsel at Paradigm, a crypto investment firm, lambasted the SEC for its alleged overreach and “unreasonable” application of the Howey test. This news comes in the wake of Paradigm’s amicus brief … Read more The U.S. Securities and Exchange Commission (SEC) has come under fire for its recent lawsuit against Bittrex, a U.S.-based crypto exchange. Rodrigo Seira, Special Counsel at Paradigm, a crypto investment firm, lambasted the SEC for its alleged overreach and “unreasonable” application of the Howey test. This news comes in the wake of Paradigm’s amicus brief…

TL;DR Breakdown The source code of Brazil’s Central Bank Digital Currency (CBDC) has functions allowing a central authority to freeze or reduce balances. Blockchain developer Pedro Magalhães discovered this after reverse-engineering the code. Magalhães suggests these functions could be beneficial for secured loans and decentralized finance (DeFi) protocols. Description The world of finance was recently abuzz following a shocking discovery in the Central Bank Digital Currency (CBDC) of Brazil. It seems that the supposed beacon of decentralization might contain some not-so-secret code enabling a centralized authority to freeze funds or even diminish balances at their discretion. Discovering hidden powers in Brazil’s digital currency The … Read more The world of finance was recently abuzz following a shocking discovery in the Central Bank Digital Currency (CBDC) of Brazil. It seems that the supposed beacon of decentralization might contain some not-so-secret code enabling a centralized authority to freeze funds or even diminish balances at their discretion. Discovering hidden powers in Brazil’s digital currency The revelation came courtesy of Pedro Magalhães, a renowned blockchain developer and the mastermind behind Iora Labs, a leading…