CryptoSlate Wrapped Daily: Binance’s CZ lashes out at Reuters reporter; Ethereum network at peak performance CryptoSlate Wrapped Daily: Binance’s CZ lashes out at Reuters reporter; Ethereum network at peak performance
Binance's CZ lashes out at Reuters reporter, Japan looking to amend KYC rules and much more in this edition of CryptoSlate Wrapped Daily.
3 min read
Updated: Oct. 18, 2022 at 12:25 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
The biggest news in the cryptoverse for Oct. 18 includes Japan looking to amend KYC rules for crypto, Binance CEO Changpeng Zhao’s post about the company’s recent dealings with a Reuters reporter and Texas’ probe into FTX US and Sam Bankman-Fried for allegedly offering unregistered securities.
Japan looks to amend crypto KYC rules
The Japanese government said it has passed six foreign exchange laws that will see crypto exchanges comply to combat money laundering in the region.
Once the laws are enforced, crypto exchanges will be required to subject their customers to strict KYC processes to confirm their identities.
Quant rises over $200 after surging 100% in 30 days
In the last 30 days, Quant Network’s QNT token has surfaced as an outlier in a bear market after its value surged by over 100% to trade above $216.
The growing interest in the network is closely linked to the launch of its tokenization mechanism “Tokenise”, which allows users to create interoperable QRC20 and non-fungible tokens.
Hoskinson says banks are marketing crypto with their actions after Kanye West, JP Morgan fallout
Popular American rapper Kanye West has cut ties with JP Morgan after the bank asked him to withdraw his assets worth $140 million. In response to the unfair treatment, the rapper wore a Satoshi Nakamoto hat to show his support for the bitcoin revolution.
Cardano founder Charles Hoskinson said that JP Morgan’s maltreatment of Kanye West is bringing more marketing attention to the crypto space.
People keep asking why isn’t the cryptocurrency space doing a better job at marketing, the answer is that every bank in America does a pretty good job of doing it for us pic.twitter.com/OANsCCDPMw
— Charles Hoskinson (@IOHK_Charles) October 17, 2022
Binance’s CZ puts Reuters reporter on blast for intent to report about his children
A Reuter reporter had reached out to Binance with questions aimed at revealing details about CZ’s children.
The Binance founder who seeks to protect his children’s identity has declined to respond to such inquiries and labeled it as “unprincipled and intolerable.”
Bitcoin Association pursuing criminal charges against miner mining empty blocks
A miner in the BSV blockchain has been accused of allegedly producing empty blocks and launching a coordinated distributed denial-of-service (DDoS) attack on the network.
The Bitcoin Association has moved to pursue legal actions against the miner and have their block rewards frozen.
Texas is investigating FTX US, Sam Bankman-Fried over unregistered securities offerings
Texas State Securities Board (TSSB) has launched an investigation against FTX.US and Sam Bankman-Fried for allegedly offering unregistered securities.
The regulator has urged relevant authorities to stop FTX.US from purchasing Voyager’s assets for violating securities law.
Australian regulator suspends Holon Investments’ Bitcoin, Ethereum, Filecoin funds
Holon investment submitted an application to the Australian Securities and Investment Commission (ASIC) to offer Bitcoin, Ethereum, and Filecoin crypto funds to retail investors.
ASIC said that Holon’s application was vague as it failed to capture the risk profile of its target market. As a result, Holon was ordered to cease offering its crypto funds for the next 21 days, while it reviews the submission it made.
North Korean Lazarus Group targets Japanese crypto firms
According to Japan’s Police Agency, the North Korean Lazarus Group has been identified as the perpetrator of several cyber-attacks launched against Japanese crypto exchanges.
The hacking group reportedly stole about $45 million (¥6.7 billion) from the Zaif crypto exchange in 2018 and another $24 million (¥3.5 billion) from Bitcoin Japan in 2019.
Research Highlight
On-chain metrics show peak Ethereum network performance post-Merge
One month after the much anticipated Ethereum merge, on-chain data reveals that the network is performing efficiently.
CryptoSlate analysis shows that post-merge, Ethereum’s participation rate has increased above the 99% average level.
Further insights from ETH 2.0 total value staked metrics confirmed that more conviction is growing among ETH holders. As of press time, the total amount of ETH staked has surged to an all-time high of 14 million.
News from around the Cryptoverse
US regulators investigating Three Arrows Capital
The Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have launched an investigation against bankrupt crypto hedge fund Three Arrows Capital.
The regulators said 3AC failed to register with relevant U.S. agencies and allegedly misled investors by inflating its balance sheet.
Crypto Market
Bitcoin (BTC) increased by 1.11% to trade at $19,519 in the last 24 hours, while Ethereum (ETH) recorded an increase of 1.46% to trade at $1,328.
Biggest Gainers (24h)
- Phala.Network (PHA): +41.66%
- Mdex (MDX): +33.11%
- Synapse (SYN): +16.82%
Biggest Losers (24h)
- Sologenic (SOLO): -5.66%
- Celsius (CEL): -5.21%
- Bitgert (BRISE): -3.89%
Mentioned in this article
Bitcoin 
Ethereum 
Quant 
Cardano 
FTX 
FTX US Derivatives 
Three Arrows Capital 
Changpeng Zhao 
Charles Hoskinson 
Sam Bankman-Fried Posted In: Wrapped
Author 
Christian Nwobodo
Christian is a crypto-curious nerd who loves to investigate how protocols work under the hood. Christian is interested in DeFi protocol research, token economics, and on-chain analytics.
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In this article
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Ethereum
$3,461.41
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Quant
$116.658
Quant’s mission is to unlock the power of blockchain for everyone, by delivering interoperable ecosystems and real-world solutions that simply work: lowering costs, enabling new business and mitigating risk..
Cardano
$0.95657
Cardano is a decentralized public blockchain and cryptocurrency project and is fully open source.
FTX
FTX is a defunct cryptocurrency exchange, currently in bankruptcy proceedings, that was founded by Sam Bankman-Fried and Zixiao “Gary” Wang in May 2019.
FTX US Derivatives
FTX US Derivatives is a digital currency futures and options exchange and clearinghouse regulated by the US Commodity Futures Trading Commission (CFTC).
Three Arrows Capital
Three Arrows Capital (3AC), a Singapore-based crypto hedge fund, collapsed due to poor risk management, recklessness in dealing with business partners and a significant portion of greed.
Changpeng Zhao, popularly known as “CZ,” is a notable figure in the cryptocurrency world, primarily for founding and leading Binance, the world’s leading cryptocurrency exchange by trading volume.
Charles Hoskinson, based in Colorado, stands out as a prominent figure in the blockchain and cryptocurrency sphere.
Sam Bankman-Fried is the former CEO, and co-founder of defunct crypto exchange FTX and Alameda Research.