Partnerships
Reddit is forging ahead with blockchain adoption push with FTX partnership
Reddit has partnered with FTX Pay to allow users to buy ETH with fiat to pay for gas fees associated with Community Points transactions.
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Lending
Babel Finance reaches debt agreement to ease liquidity pressure
Crypto lending platform Babel Finance has reached agreements with major counterparties on the debt repayment timeline to ease its liquidity crunch.
Investments
Three Arrows Capital reportedly considering asset sales, bailout
Three Arrows is trying to buy time from creditors to figure out a plan to save itself, which could include asset sales or a possible bailout, The Wall Street Journal reported.
Mining
Regulators need to determine whether miner extractable value is illegal, BIS report says
A BIS research paper suggests that the process of miners making profits by choosing the sequencing of transactions in a block should be considered illegal.
Investments
Mike Novogratz equates crypto crash to Long Term Capital Management crisis
The crypto investor said that while the worst may soon be over for the crypto market, prices could still go further south.
Lending
BlockFi fined $943,000 for not registering securities in Iowa; to pay $100M in settlement
A multi-state investigation in the U.S. found that BlockFi has sold unregistered securities and misrepresented facts about its loan risks.
Partnerships
VeChain, UFC enter multi-year marketing collaboration
VeChain's branding will be integrated into UFC assets and events, giving the blockchain marketing visibility across millions of UFC fans.
Tokenization
ApeCoin holders vote to stay on Ethereum blockchain amid community contention
The ApeCoin community voted to stay on Ethereum, but with a close vote, the community remains divided on the future of the token.
Hacks
Attackers drain $5M from Osmosis; FireStake Validator admits to exploiting LP bug
Attackers exploited a bug, initially pointed out in a reddit thread, that allowed users to gain 50% more tokens while adding and withdrawing liquidity on Osmosis.
Regulation
NY stablecoin issuers Gemini, Paxos have to ensure 100% reserves daily under new guidelines
In light of the Terra-LUNA disaster, NY's Department of Financial Services has set new reserve and redemption guidelines for dollar-pegged stablecoin issuers.
Adoption
Crypto cannot fulfil ‘social role of money’ due to fragmentation: BIS
The inherent limitations of blockchains cause fragmentation, making cryptocurrencies unsuitable as payment mechanisms, a BIS report said.
Stablecoins
TRON’s claims of USDD over-collateralization may have hidden worms
TRON DAO claims that its USDD stablecoin is now collateralized at over 200%. But a crypto researcher says the claims might be exaggerated.
Exchanges
The CFTC is suing Gemini exchange for making false statements in 2017
The CFTC claims that Gemini provided false or misleading information about the Bitcoin Futures Contract's vulnerability to manipulation in 2017.
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