Regulation
Legal
SEC initiates legal action against Elon Musk over Twitter stock disclosures
The regulator said the billionare failed to honor a subpoena that has been served since May.
Bankruptcy
FTX backdoor reportedly discovered by US-based employees: WSJ
Alameda Research's former CEO Caroline Ellison is said to have confirmed knowledge of the use of customer funds.
DeFi
Solana DeFi ecosystem rallies amid strong headwinds
Solana's ecosystem is enjoying notable growth this year, scoring adoptions from Visa, Shopify, and other major traditional institutions.
Technology
Friend.Tech bolsters security as more users report SIM-swap attacks
ZachXBT said four Friend.Tech users lost $385,000 to SIM-swap attacks.
Bankruptcy
FTX creditors hope Google’s potential $2B investment in Anthropic will boost recovery prospects
Anthropic, in which FTX and Alameda Research invested a combined $500M, could see a $30 billion valuation if it secures new investments from Google.
Culture
Failed 3AC co-founder Su Zhu $35M villa converted into an ecological urban farm
The transformed building has been used to create a thriving ecosystem encompassing agriculture and aquaculture.
Legal
SBF Trial: Bankman-Fried cannot rely on US unclear crypto regulatory regime in trial, DOJ says
The U.S. crypto regulatory landscape remains unclear as the authorities are yet to formulate laws catering to the industry.
Tokenization
Ripple’s XRP price jumps 5% fuelled by Singapore licensing acquisition amidst crypto market downturn
Ripple recorded significant victories during the reporting period as it secured licensing in Singapore and victory over the SEC.
Exchanges
India to launch global crypto-crime detection database by 2024
The primary objective of this database is to equip law enforcement agencies with the tools to track and compile data regarding illicit cryptocurrency activities.
Technology
Nomic bridge paves way for Bitcoin’s seamless entry into the Cosmos ecosystem
Nomic DAO will take control of the bridge after the planned upgrade.
Technology
South Korean gaming titan Wemade taps Chainlink for interoperable Web3 gaming ecosystem
Chainlink also became the first member of Wemade's COURT consortium.
Legal
Ex-SEC official predicts downfall of FTX’s former CEO SBF in high-stakes trial
Sam Bankman-Fried's trial will begin today, Oct. 3, with jury selections.
