Reachoutforyouth

• Amazon reportedly sent an email to CoinDesk confirming the existence of digital tokens and an NFT gallery on its platform.
• Rumors have been circulating since January that Amazon is planning to launch its own NFT marketplace soon.
• Crypto news sites Blockworks and The Big Whale suggest that the NFT feature will be launched on April 24.

Amazon Teases NFT Plans

Amazon appears to have confirmed the upcoming launch of digital tokens, an NFT gallery, and resale opportunities in an email sent to CoinDesk’s Nikhilesh De. Rumors about Amazon’s plans for Web3 expansion have been circulating since January 2021, with crypto news sites Blockworks and The Big Whale suggesting a possible launch date of April 24th.

Confirmation Email

The confirmation email was sent to De after he renewed his subscription for a Prime Video channel. It gave no further details as to what exactly these new tools may contain or where they might live on the e-commerce platform.

Rumors On Web3 Expansion

Crypto news site Blockworks first suggested that Amazon might be releasing its own marketplace for non-fungible tokens (NFTs), citing anonymous sources who claimed it would focus on blockchain-based gaming and related applications. The Big Whale followed up with a report earlier this month giving the feature a tentative release date of April 24th.

Impact On Digital Assets

The addition of digital assets to Amazon could potentially revolutionize the industry, as it would open up access to millions of users who already use the platform regularly and trust it implicitly. This could lead to increased demand for NFTs, which has already seen explosive growth over the past few months due to popular projects such as blockchain-powered collectibles like CryptoKitties or decentralized finance (DeFi) platforms like MakerDAO.

Conclusion

Only time will tell if Amazon’s rumored plans come into fruition, but if so, it could significantly change how people interact with digital assets online by making them more accessible than ever before.

• Core Scientific had stopped paying Priority Power Management in May 2022
• A judge approved a settlement with the bitcoin miner’s exclusive energy contract negotiator and Core Scientific will transfer over $20 million worth of equipment to the supplier.
• The dispute relates to two facilities in west Texas that were supposed to bring 1 gigawatt (GW) of power capacity to Core Scientific’s portfolio of assets.

Core Scientific Bankruptcy Judge Approves Transfer of Over $20M of Equipment

Core Scientific had ceased payments to their exclusive energy negotiator, Priority Power Management, in May 2022 due to concerns that the two facilities in West Texas, which were projected to provide 1 Gigawatt (GW) of power capacity, would not receive the desired power load. This resulted in Core Scientific halting all debt payments by October 2022 and filing for Chapter 11 bankruptcy protection in December.

Priority Power Management Claims

Priority Power Management asserted that they were owed approximately $30 million for their work up until the bankruptcy filing. As such, a settlement was reached under which Core Scientific will transfer more than $20 million worth of electrical equipment to the supplier.

Overview Of Dispute

The dispute between Core Scientific and their exclusive energy contractor started when it became clear that the two West Texas sites would not receive the expected power load as promised. This resulted in numerous halted payments from Core Scientific and eventually led them into bankruptcy proceedings.

Approval Of Settlement

A judge overseeing Core Science’s bankruptcy case approved a settlement between both parties under which Core Science will transfer more than $20 million worth of electrical equipment to Priority Power Management as payment for their services rendered prior to the bankruptcy filing.

Conclusion

After much deliberation, a judge has finally approved a settlement between both parties so that Priority Power Management can be compensated for its services provided up until now and also allowing Core Science access additional resources needed for their operations going forward.

• The Gimmicks is a successful Web3 cartoon project that has survived the crypto winter.
• The creators of The Gimmicks spoke at Consensus, discussing their plans for interactive storytelling.
• Their second season, House of Chico, is a mix of South Park, wrestling and crypto that allows NFT holders to vote on what happens to characters.

What is “The Gimmicks”?

The Gimmicks is a successful Web3 animation project that has managed to survive the recent crypto winter. It’s a vulgar animated comedy that blends elements of South Park, wrestling and cryptocurrency together into an interactive storytelling experience. At Consensus 2021 in Austin, the creators discussed their plans for future interactive projects.

What Makes “The Gimmicks” Unique?

What sets The Gimmicks apart from other animations is its use of non-fungible tokens (NFTs). Through these tokens, viewers are able to vote on what happens to certain characters in the show. This gives viewers an unprecedented level of control over the story and makes them feel like they’re part of it all.

What Is House Of Chico?

House Of Chico is the second season of The Gimmicks and was launched in late October 2020 as a way to show people that even in difficult times for cryptocurrency they still firmly believe in its potential to reshape entertainment. It follows the same formula as before but with a few new additions including more comedic elements and interactive features like DIC punches which stands for decentralized inclusive community but sounds like “dick punch” – essentially an animated version of Facebook pokes!

Who Are The Creators Of “The Gimmick”?

Luisa Huang and John Attanasio are two co-founders at Toonstar – the parent company behind The Gimmicks Project – who were speakers at CoinDesk’s Consensus conference in April 2021. This was their first public appearance since taking up their roles as CEO/Founder respectively and gave attendees insight into where Toonstar is heading next with this project.

Conclusion

The Gimmicks Project is one example of how blockchain technology can be used to revolutionize entertainment experiences through interactive storytelling elements like voting on character arcs via NFTs or sending virtual “hello” messages (DIC Punches). Its success shows no signs slowing down despite difficult market conditions making it one worth watching out for!

• The U.K.’s Financial Conduct Authority has expanded its enforcement action against crypto ATMs, taking the investigation to East London after working with West Yorkshire Police to tackle crypto ATM operators in Leeds.
• All companies providing crypto services in the U.K. must be registered with the FCA for compliance with anti-money laundering and counter-terrorist financing rules.
• According to data from Coin ATM Radar, there are 18 bitcoin ATMs installed across the whole of the U.K.

UK Financial Regulator Cracks Down on Crypto ATMs

The U.K.’s Financial Conduct Authority (FCA) has begun expanding their enforcement action against illegal cryptocurrency Automatic Teller Machines (ATMs). Last month, they conducted inspections at sites in Leeds, Northern England and recently expanded their investigations to East London where they are inspecting several sites suspected of hosting illegally operating crypto ATMs.

Rules For Operating Crypto ATMs

All companies providing crypto services in the U.K., including those involved with running a crypto ATM, must register with the FCA for compliance with anti-money laundering and counter-terrorist financing rules. Currently, none of the companies registered with them are authorized to provide such services so any machine operating is doing so illegally.

Number Of Crypto ATMS In The UK

According to data from Coin ATM Radar, there are currently 18 Bitcoin ATMs installed across all of England and Wales combined which indicates that illegal activity is likely occurring without being detected by authorities until now..

Impact Of The Crackdown

This crackdown is expected to have a significant effect on operations related to cryptocurrency as it will help prevent money laundering activities using cryptocurrencies and also bring about better regulations for legitimate businesses offering such services in the region..

Conclusion

The FCA’s decision to expand its enforcement actions against illegal cryptocurrency Automatic Teller Machines (ATMs) is an important step towards ensuring greater compliance with anti-money laundering regulations and promoting better regulation of legitimate businesses offering such services in the region

• Binance’s custody arm Ceffu is reportedly applying for a Capital Markets Service license from the Monetary Authority of Singapore to provide custodial services in the country.
• Hex Trust, Coinbase and Binance have all received similar licenses in Singapore over the past year.
• Binance withdrew from Singapore in December 2021 due to having already invested in a regulated exchange there, but is now attempting to receive a new license as a custodian.

Binance Custody Arm Applies for Singapore License

Binance has rebranded its custody arm to Ceffu and is reportedly applying for a Capital Markets Service license from the Monetary Authority of Singapore (MAS). The exchange’s move comes after other crypto-related companies, such as Hex Trust and Coinbase, have received similar licenses in Singapore over the past year.

Ceffu Aiming to Provide Custodial Services

Ceffu will aim to provide custodial services for institutional investors and high net-worth individuals, not retail clients. According to MAS regulations, this would require Ceffu to meet certain standards of customer protection and record-keeping requirements.

Why Has Binance Applied for This License?

Binance withdrew from Singapore in December 2021 due to having already invested in a regulated exchange there. However, it appears that Binance is now making attempts at receiving another license as a custodian. If granted by MAS, this would allow them access into providing their services within the region more directly than before.

What Could This Mean For Crypto In Singapore?

The granting of this license could open up greater opportunities for institutions interested in investing into cryptocurrencies within Singapore – allowing them access to secure storage solutions specifically designed with them in mind. It could also pave the way for further regulations around digital assets within the region that may attract more investors further down the line should they be welcomed with open arms by local authorities.

Conclusion

Binance’s application for an MAS license shows that it wants to be able to offer its services within the region once again – this time as an official provider of custodial services under strict regulatory guidelines set out by authorities in Singapore. If granted by MAS this could open up greater opportunities for institutions interested in investing into cryptocurrencies within the country – creating potential long term benefits that can only be speculated at this stage of proceedings.

• DWF Labs has invested $25M in the privacy technology startup Beldex.
• The funds will help promote the ecosystem of decentralized applications that protect user data.
• The Beldex ecosystem includes private messaging app BChat, decentralized virtual private network BelNet, Web3 browser Beldex and cross-chain privacy protocol Beldex.

DWF Labs Invests $25M in Privacy Tech Startup Beldex

Beldex Fundraising Efforts

DWF Labs has invested $25 million in the privacy technology startup Beldex. The funds will help promote the ecosystem of decentralized applications that protect user data. With this new partnership, DWF will serve as a counselor and help with marketing for the project.

Beldex Ecosystem

The Beldex ecosystem includes private messaging app BChat, decentralized virtual private network BelNet, Web3 browser Beldex and cross-chain privacy protocol Beldex which enables anonymous transfers of assets between different blockchain networks.

Crypto Winter Impact on Venture Capital Investments

The funding comes as crypto winter pushed venture capital investments in crypto projects down 91% year-over-year in January, although infrastructure projects remained relatively strong.

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• The TRU token of decentralized lending protocol TrueFi surged 220% in an hour on Thursday due to speculation around Binance’s minting of $50 million of TrueUSD (TUSD) stablecoin.
• This confusion appears to be based on the past relationship between TrueFi and TUSD, which has since been separated.
• TrustToken sold TUSD in 2020 to Techteryx and then rebranded as Archblock while TrueFi worked on decentralizing its platform.

TRU Token Rallies Over 200% After Binance’s TUSD Mint Sparks Speculation

The rally appears to come from traders mistakenly connecting TRU with TUSD, a stablecoin that had been issued by TrueFi in the past but now no longer is. By Krisztian Sandor Feb 16, 2023 at 6:03 p.m. UTC Updated Feb 16, 2023 at 7:24 p.m. UTC

Background of The Speculation

Before the rally took off, Binance, the world’s largest crypto exchange by volume, minted $50 million of TrueUSD (TUSD) stablecoin, according to blockchain data. This event sparked speculation among crypto traders about TUSD potentially gaining a larger role in trading on Binance after the regulatory crackdown on the Paxos-issued Binance USD (BUSD).

Separation Between Tokens

However, the speculation about the TRU token appears to be misplaced because the issuers of the TrueUSD and TRU tokens were separated a while ago. TrustToken sold TUSD in 2020 to a firm called Techteryx and then separated from the original protocol and was renamed Archblock last year as TrueFi embarked on a road to decentralize its platform..

Rally Of TRU Token

TRU surged as high as 14.6 cents from 4.4 cents on Binance before later paring some of the gains. The token was trading at around 11 cents at press time. Earlier this week, Paxos said it would halt minting BUSD on orders from New York regulators amid concerns that non-approved firms were using it for trading activities not allowed under U.S laws such as margin trading or derivative contracts .

Conclusion

The surge of TRU token was likely due to mistaken speculation that linked it with TUSD following news that Binance had minted $50 million worth of stablecoin tokens which caused investors to believe that there may be some kind connection between truefi’s trutoken and tusd’s relaunch despite them being separate entities today

• Kraken has agreed to shut down its cryptocurrency-staking services in the US and pay $30 million to settle charges with the SEC.
• The SEC voted on the settlement during a closed-door commissioner meeting on Thursday.
• Kraken offers several services under its staking umbrella, including a crypto-lending product offering up to 24% yield.

Kraken Agrees to Shutter US Crypto-Staking Operations

Kraken has agreed to “immediately” end its crypto staking-as-a-service platform for U.S. customers and pay $30 million in order to settle Securities and Exchange Commission (SEC) charges that it offered unregistered securities, the U.S. agency announced Thursday.

SEC Meeting

The SEC is meeting in a closed-door session on Thursday regarding the matter. CoinDesk Global Policy and Regulation Managing Editor Nikhilesh De discusses the details and wider implications for crypto regulation.

Details of Settlement

Under the settlement, Kraken will shut down all of its cryptocurrency staking services for U.S customers, including a crypto lending product offering up to 24% yield according to their website. Bloomberg reported Wednesday that Kraken was close to settling with the SEC over offering unregistered securities prior to this announcement from the agency today..

Implications

The news comes as yet another sign that regulators are taking a closer look at how cryptocurrencies are being used by exchanges and other service providers in America, making sure that they comply with existing laws and regulations when offering such services..

Conclusion

This move by Kraken shows that companies need to be aware of any potential legal or regulatory issues before launching new products or services related to cryptocurrencies or digital assets in general within the United States — even if those products or services have been available elsewhere without issue previously..

• Orion Protocol, a crypto trading venue, was the victim of a reentracy attack in which an attacker drained millions of dollars worth of cryptocurrency.
• The attacker deployed a fake token called ATK which was used to manipulate the Orion pools and utilized a self-destructing smart contract.
• Initial estimates placed losses at $2.8 million on Orion’s Ethereum implementation and $200,000 on its BSC implementation.

Orion Protocol Loses Crypto in Trading Pool Exploit

The Attack

Orion Protocol, a crypto trading venue, was the victim of a reentrancy attack in which an attacker drained millions of dollars worth of cryptocurrency. The attacker deployed a fake token called ATK which was used to manipulate the Orion pools and utilized a self-destructing smart contract.

The Losses

Initial estimates placed losses at $2.8 million on Orion’s Ethereum implementation and $200,000 on its BSC implementation. A wallet identified as the attacker’s began passing ether tokens through privacy mixer Tornado Cash shortly after the event.

CEO’s Statement

Orion Protocol CEO Alexey Koloskov said that “all funds are safe and secure” in a tweet thread following the attack. He stated that they believe the issue was not caused by any shortcomings in their core protocol code but rather might have been caused by vulnerability in mixing third-party libraries in one of their smart contracts used by their experimental and private brokers.

Price Impact

The price of Orion’s native token ORN is little changed following the apparent attack, up nearly 14% in the last 24 hours to $1.03.

Conclusion

Overall, it appears that while there were significant losses incurred from this exploit, all funds remain secure as per statements from CEO Alexey Koloskov and there has been minimal impact on ORN pricing so far due to this incident

• Crypto custodian Aegis has partnered with DeFi protocol Lido to provide custodial services for liquid staking derivatives.
• The partnership is a response to increasing demand from institutional users wary of regulation, as interest in liquid staking derivatives increases with the Merge transition.
• Aegis’ end-to-end custody already includes safe storage and fiat-to-cryptocurrency conversation, and now includes access to Lido’s liquid staking services.

Crypto custodian Aegis has announced a new partnership with decentralized finance (DeFi) protocol Lido to provide custodial services for liquid staking derivatives. The move is a response to increasing demand from institutional investors wary of regulation, as interest in liquid staking derivatives increases with the Merge transition.

The Merge, or the Ethereum blockchain’s transition to a proof-of-stake (PoS) consensus mechanism, has generated a lot of interest in liquid staking derivatives. These derivatives allow users to access liquidity to their staked assets, providing them with the option to stake their tokens and still receive rewards, while also being able to sell their tokens when needed.

The partnership between Aegis and Lido will give institutional investors access to Lido’s liquid staking services, as part of Aegis’ end-to-end custody. Aegis holds trust licenses in both Hong Kong and the U.S., and already offers custodial services for on-chain transactions. This includes safe storage and fiat-to-cryptocurrency conversation. With the new Lido partnership, Aegis clients can now participate in liquid staking.

Aegis CEO Serra Wei said the latest move from the company was in response to demand from institutional users wary of regulation. “We are thrilled to be partnering with Lido and providing our users with access to the ability to stake their tokens without sacrificing liquidity,” Wei said. She added that Aegis is committed to providing high-end solutions for its customers, and that the Lido partnership is a step towards supporting institutional users in the long run.

The partnership between Aegis and Lido is the latest example of how DeFi protocols are expanding their offerings to attract institutional investors. With the Merge transition, the demand for liquid staking derivatives is only expected to grow, and companies like Aegis and Lido are well placed to take advantage of this. It remains to be seen how the partnership between the two companies will pan out in the long term, but it is certainly a step in the right direction for both companies.