GSR Weekly Crypto News Recap - September 30, 2022

September 30, 2022

Top Stories of The Week

New Whitepaper Proposes A Slew Of Changes To Cosmos Hub

Bitcoin Insider

Cosmos hub shared its whitepaper for the revamped Cosmos 2.0
roadmap to rapturous excitement from the Cosmos community. The paper was revealed during the first day of the Cosmoverse conference in Medellin, Colombia. The slew of changes could see Cosmos’ native token ATOM turn into the ecosystem’s reserve currency. The new Cosmos hub whitepaper proposes a slew of changes and a major expansion to the utility of the Cosmos Hub, the blockchain at the heart of the Cosmos ecosystem. At present, Cosmos Hub acts as a template, allowing blockchains to be built into the Cosmos Interchain, a web of individual blockchains for the seamless sharing of information and assets. The new whitepaper proposes allowing other chains to use it and secure their own network. ATOM will also see a change in its utility and issuance schedule. Cosmos co-founder Ethan Buchman said, “Cosmos Hub is taking its place within the interchain. The Hub is still not going to dominate the interchain or own the whole interchain or bring everyone under its umbrella. But it’s trying to offer services to the larger interchain that help enable it, help support it, [and] help it thrive and grow.”


FTX US Wins Bid to Acquire Voyager Digital’s Crypto Assets



Interpol Issues Red Notice for Do Kwon: Report



Chainlink launches Economics 2.0 staking programs


Decentralized oracle protocol Chainlink has announced the launch of its long-awaited staking reward programs – SCALE and BUILD. The programs are part of the Economics 2.0 plan to secure the network and reward participants by introducing staking.
Chainlink SCALE was designed to reduce the operational cost of running oracle data by splitting costs among project node operators and dApp users. The participating projects will offer a portion of their revenue in LINK to cover transaction fees of Chainlink oracle networks. In exchange, Chainlink will unlock advanced oracle features and solutions for the projects. Developers can get access to tweak the configurations to suit their ecosystem needs, such as Data Feed for higher update frequencies. The BUILD program was launched as part of Chainlink staking targeted at early-stage and established projects. Projects on the BUILD program will be able to deploy custom Data Feed DONs, get priority access to Chainlink upgrades, and bolster the cryptoeconomic security of the network. Participating projects stake their network fees in Chainlink’s native LINK token to provide incentives for network participants like stakers.


IRS Wins Court Battle To Access Crypto Bank sFOX’s Customer Records for Tax Investigation

The Daily Hodl

The IRS is gaining access to crypto bank sFOX’s customer records as a means of investigating potential tax evasion. According to a new press release, the IRS has obtained a court order authorizing it to dive into sFOX’s records to find US customers that allegedly traded virtual assets and failed to file taxes.
Crypto prime dealer sFOX, which had previously partnered with M.Y. Safra Bank to offer users banking digital assets trading services, must now hand over its crypto transaction data to the IRS after the agency won a court battle allowing them to issue a John Doe summons. “sFOX has over 175,000 registered users who have collectively undertaken more than $12 billion in transactions since 2015. Based on its recent experiences with cryptocurrencies, the IRS has strong reason to believe that many virtual currency transactions are not being properly reported on tax returns.”



Brits are Turning to Bitcoin as the Pound Plummets Against the US Dollar
Why this UK territory is adopting the Bitcoin Lightning Network
Bitcoin profitability for long-term holders declines to 4-year low: Data
MicroStrategy Looks to Hire Software Engineer for Building Bitcoin Lightning Network Infrastructure
CF Benchmarks launches bitcoin interest rate curve as lenders continue to increase yields for savers
Lightning Labs Releases Software to Allow Bitcoin Developers to Mint and Transfer Assets on the Blockchain
Bitcoin was almost named Netcoin by Satoshi Nakamoto, hints domain data

ETHW Surges as Binance Launches Ethereum Proof-of-Work Mining Pool
Ethereum Merge was ‘executed flawlessly,’ says Starkware co-founder
Academic Proposal to Make Ethereum Transactions Reversible Divides DeFi Community
Joseph Lubin’s Infura Plans to Create an Amazon Web Services for Ethereum Nodes

Olympus Slashes OHM Inflation In Bid For Sustainability
Sushi Deploys to Kava, Debuting Major UI Overhaul
EPNS rebrands to Push Protocol as it moves to a multi-chain future
Cosmos Poised To Revamp ATOM Tokenomics
CEL Token Jumps as SBF Said to Eye Celsius in Buying Spree
Safe token airdrop goes live with 43,000 users eligible for reward
Komodo’s AtomicDEX bridge will now connect Cosmos to hundreds of blockchains
Aragon Network Holding Votes on Key Parts of Shift to a New DAO Structure
Terra’s Luna Classic Pumps 40% as Binance Plots Supply Burn
Osmosis co-founder reveals cross staking through mesh security in chainmail armor at Cosmoverse
Decentralized Exchange Bancor Proposes Burning 1M BNT Tokens to Support Prices
Polkadot looks to 10x transaction speed in new updates
Co-Founder of Failed Crypto Exchange QuadrigaCX Starts DeFi Protocol UwU Lend
Tezos activates Kathmandu protocol upgrade on its mainnet

Gemini wants to boost GUSD stablecoin volume in MakerDAO
Circle Expands USDC Stablecoin Support to Five New Blockchains
Stablecoin Markets Shift as Binance Begins USDC Conversions
Jack Dorsey’s TBD Teams Up With Circle to Take US Dollar Stablecoin Savings and Remittances Global
Native USDC on Cosmos to Fill Vacuum Left by Terra’s UST Stablecoin
Stablecoin Reserves Must Be “Publicly Transparent”: Jerome Powell
Tether’s USDT stablecoin goes live on Polkadot

Druckenmiller sees ‘big role’ for cryptocurrency as central bank trust evaporates
Circle acquires payment services firm Elements
Crypto Market Integrity Coalition inducts 8 new members, plans training
MetaMask adopts custodial features for NFT-hungry institutional investors
CryptoCompare, Blockdaemon Release Staking Yield Indexes
Crypto Custody Firm Anchorage Digital to Be Preferred Custodian for Layer 1 Blockchain Aptos Labs
Galaxy Digital to provide market data to blockchains with Chainlink

NFT platform X2Y2 hits back at blacklist by Tyler Hobbs’ QQL
Star Atlas offers first glimpse of gameplay with debut on Epic Games Store
Facebook and Instagram Activate NFTs for US Users
Someone Just Paid $4.5M for a CryptoPunks Ethereum NFT Despite Bear Market
Tyler Hobbs’ QQL NFT Project Raises Nearly $17M in Successful Mint
Anonymous makes numerous allegations against Yuga Labs and its Bored Ape Yacht Club
Christie’s moves on-chain with NFT auction platform on Ethereum
S. Korean Crypto Project Klaytn Will Offer Gas Fee Rebates to Gaming Firms
OpenSea NFT Marketplace Adds Support for Optimism – OP Token Price Forecast
‘Apple Must Be Stopped’ as Web2 Firm Launches 30% NFT Tax: Epic Games CEO
Walmart Debuts Roblox Worlds as ‘Testing Ground’ for the Metaverse
NFT Game Pixelmon Attempts Comeback After $70M ‘Horrible’ Art Reveal
Art Blocks NFT platform winds down Curated Series, plans branding refresh
OpenSea aims to automatically index Solana NFTs
Royalty-free NFT platform SudoAMM surpasses $50 million in volume months after launch

Bitcoin miner Rhodium to go public via merger deal
Bitcoin mining difficulty falls 2.14% after four consecutive increases
Bitmain Founder Jihan Wu Setting Up $250M Fund to Buy Distressed Bitcoin Mining Assets: Report
Court approves more first-day motions in Compute North bankruptcy case
Miners flee PoW tokens as token prices tank, GPU value flounders
Cipher Mining seeks to raise up to $250 million in stock market offering
Compute North’s CFO details the firm’s collapse amid first-day filings
Bitcoin Miner Iris Energy to Sell $100 Million in Equity to B. Riley
China GPU prices drop to new lows after the Ethereum Merge

Coinbase shares drop 9% after Wells Fargo issues profitability warning
Binance Registers in New Zealand and Opens Local Office
Binance Re-enters South Africa’s Crypto Futures Market
Crypto Exchange FTX Is Moving Its US Headquarters From Chicago to Miami
Ethereum Project Ribbon Finance Launches Crypto Options Exchange to Boost Growth
Crypto exchange Bitkub targeted by Thai SEC with wash trading claims
Trading Platform Secures Regulatory Approval to Operate in France
Komainu taps former Italian stock exchange head as CEO
Kraken’s incoming CEO: No plans to register with SEC
Coinbase Responds to Wall Street Journal Proprietary Trading Allegations in New Blog Post
Coinsquare Acquires CoinSmart, Plans to Boost Presence in Canada
Crypto Exchange Binance Eyes Return to Japan 4 Years After Exit: Report

Ooki DAO moves to raise funds to defend against CFTC lawsuit
Uniswap seeks more than $100 million in funding at $1 billion valuation: Tech Crunch
Solana tech developer Coral raises $20M, plans to launch ‘xNFT’ protocol
Crypto hardware wallet maker OneKey raises $20 million in Series A funding
Bitcoin Lightning-Based Payments App Strike Raises $80 Million in Funding Round
Coinbase Ventures backs crypto firewall provider Harpie’s $4.5 million raise: Exclusive
Solar-Powered Bitcoin Miner Aspen Creek Raises $8M Despite Bear Market
Deribit Valued at $400 Million After a Fundraiser from Existing Investors: Report

Market manipulation claims will be hardest ‘nut to crack’ in Bitcoin ETF approval — WisdomTree
BlackRock preps ETF targeting metaverse companies: Bloomberg
BlackRock’s newest ETF invests in 35 blockchain-related companies
Robo-Advisor Betterment Partners With Crypto Exchange Gemini to Offer Customized Crypto Portfolios
Pantera is seeking $1.25 billion for a second blockchain fund, Bloomberg reports
London-Based Asset Manager Fasanara Capital Establishes $350M Crypto VC Fund
More Woes for Grayscale Investors as Largest Bitcoin Fund Hits New All-Time Low

Spain’s largest telecom brand dives deep into Web3
Banks’ Crypto Asset Holdings May Be Just 0.01% of Total Risk Exposure, Basel Study Finds
SWIFT, Chainlink Labs reveal work on cross-chain proof-of-concept
Robinhood Web3 Wallet Goes Live On Polygon
Digital Bank Revolut Wins FCA Registration to Offer Crypto Services in UK
Disney hiring transaction lawyer for ‘aggressive’ NFT and DeFi plans

ECB reports on digital euro validation, privacy one year into investigative phase
Sweden’s central bank tests CBDC for retail and international remittance payments
Peer-to-Peer Validation for Digital Euro Might Not Be Feasible, ECB Says
Bank of Ghana to foster financial inclusion through CBDC project
Israel, Norway and Sweden central banks partner with BIS to explore CBDC payments
Bitcoin think tank: Reject CBDCs and look to BTC and stablecoins instead
BIS marks CBDC pilot as ‘successful’ with $22M transacted
Digital Euro Could be More Popular Beyond EU’s Borders: Lagarde
Russia Plans to Use Digital Ruble for International Deals with China
French Central Bank CBDC Projects Aim to Manage DeFi Liquidity, Settle Tokenized Assets
Former IMF official believes CBDCs need to function offline to gain mass adoption

CFTC chair: BTC price ‘might double’ with more regulation of crypto markets
California Moves Forward to Allow Vital Records to be Issued on Blockchain
Senate bill would create legal grace period for crypto exchanges
Judge orders SEC to turn Hinman documents over to Ripple Labs after months of dispute
SEC Charges Crypto Firm Hydrogen Technology With Market Manipulation, Selling Unregistered Securities
Kazakhstan ready to legalize crypto as Russians flock to the country
Terraform Labs says South Korea’s Luna case is ‘highly politicized’: WSJ
Non-euro stablecoin transaction cap revived in MiCA
EU Set to Ban Russian Crypto Payments After ‘Sham’ Referenda
CFTC’s Pham calls for new office focused on retail traders, with eye to crypto protections
Brazil’s Securities Regulator Probes Crypto Exchange Mercado Bitcoin on Token Issuance
EU securities regulator clears next step for tokenized trading pilot program
Japan to tighten laws to prevent money laundering via crypto by May 2023
DeFi needs appropriate regulation before expanding to retail: Fed Chair Powell
CFTC serves Ooki DAO members lawsuit via governance discussion forum
Regulators must extend existing processes to crypto, BoE’s Jon Cunliffe says
SEC Fines Tether’s Former Auditor $1.5M for ‘Improper Professional Conduct’
Thai SEC Sues 5 Entities for Creating Fake Volume Across 2 Crypto Exchanges
Crypto Lender NEXO Faces Cease-and-Desist Order From California
DARPA to Research Risks of Crypto to National Security in Partnership With Inca Digital
New UK Economic Crime and Corporate Transparency Bill Enables Authorities To ‘Seize, Freeze and Recover’ Crypto
Crypto License Bill Vetoed by California Governor Gavin Newsom in Win for Industry
ECB Exploring Distributed Ledger Technology for Interbank Settlements: Panetta

Crypto Is Quietly Thriving in Sub-Saharan Africa: Chainalysis Report
Circle to Roll Out Free Crypto Literacy Program to HBCUs
Bitcoin mining represents 0.1% of global greenhouse gas emissions, study finds
Bitcoin Mining’s Sustainable Electricity Mix May Be Declining, Says Cambridge University Research Organization Targeted in Latest Round of Lazarus Group’s Fake Job Scams
Ethereum scaling and bridge solution Aurora pays out $2 million in bug bounties
Jack Dorsey Told Elon Musk Twitter Should Be a Protocol ‘Like Signal’
Wintermute hack replicated on simple laptop in under 48 hours by exploiting Profanity flaw
Crypto Could Enjoy “Renaissance” as Trust in Banks Fades: Druckenmiller
CertiK says SMS is the ‘most vulnerable’ form of 2FA in use
Celsius CEO Mashinsky Resigns
NFT marketplace OpenSea pays $200,000 bounty to two ethical hackers
Cyber sleuth alleges $160M Wintermute hack was an inside job
Do Kwon Moved LFG’s Bitcoin After Court Approved Arrest, Prosecutors Claim
China arrests 93 people suspected of laundering 40B RMB via crypto
Wintermute inside job theory ’not convincing enough’ — BlockSec
Genesis co-head of sales and trading to step down, take on advisory role
Best Universities for Blockchain 2022: CoinDesk’s Methodology
Crypto trader exploits GMX, manipulates AVAX price to remove $565K