Coinbase launches a brand new blockchain, the IMF sends blended indicators on cryptos, and be careful for pretend ChatGPT tokens. These tales and extra this week in crypto.
Coinbase Launches a Layer-2 Blockchain
Crypto alternate Coinbase launched an Ethereum layer-2 community known as Base, constructed with the assistance of Optimism. The testnet of Base won’t be restricted to Ethereum, however may also present entry to different networks akin to Optimism and Solana. The intention of the challenge is to supply a safe, low-cost, developer-friendly means for anybody, wherever, to construct decentralized apps.
IMF on Crypto: Blessing or a Curse?
The IMF’s Government Board acknowledged that in an effort to safeguard financial stability, international locations mustn’t grant authorized tender or official forex standing to cryptocurrencies. The board known as on member nations to make clear regulation on crypto property and even acknowledged that outright bans shouldn’t be dominated out. In the meantime a brand new weblog, additionally from the Worldwide Financial Fund, has uncharacteristically highlighted crypto’s constructive points stating the quickly evolving know-how behind crypto could in the end maintain larger promise for the monetary sector.
Hong Kong to Challenge Licenses for Crypto
Hong Kong’s Securities and Futures Fee is looking for a public session on the necessities of crypto buying and selling platforms. Below a newly proposed licensing regime, centralized platforms in Hong Kong can apply to be licensed by the SFC. Bloomberg has reported that mainland China’s authorities could also be quietly backing the transfer as officers have been noticed as frequent friends at crypto occasions in Hong Kong.
FTX’s SBF Faces New Prison Costs
Sam Bankman-Fried, the previous FTX CEO, faces 4 new prison prices. Among the many new accusations, prosecutors declare that SBF conspired with FTX executives to donate thousands and thousands of {dollars} to affect US politicians to move legal guidelines favorable to the corporate. SBF now faces a complete of 12 prison prices that would lead to a sentence as much as 100 years in jail.
Trainer Caught Mining Crypto in College
A trainer in Massachusetts faces prison prices after authorities found an elaborate crypto mining operation in a distant crawl area beneath the college at which he labored. It has been reported that greater than $17 thousand of taxpayer cash was spent on electrical energy to energy the mining rig.
Spotify Assessments NFT Enabled Playlists
Main music streaming app, Spotify introduced that it’s operating a pilot program for token-enabled playlists with sure NFT companions. The brand new service was designed in partnership with Web3 gaming ecosystem, Overlord, and entails a token-enabled community-curated playlist that may be accessed by Web3 wallets of those that maintain the Creepz NFTs on Spotify.
The First Litecoin NFTs are Right here
The Litecoin blockchain now has its first NFTs. The event stemmed from a public bounty of 15 Litecoin tokens supplied to any developer who may fork Ordinals to Litecoin. The Ordinals Protocol allows the encoding of references to digital artwork into small transactions on the Bitcoin blockchain, primarily creating Bitcoin-based non-fungible tokens.
Pretend ChatGPT Tokens Flood the Market
As AI applications akin to ChatGPT and BingChat seize headlines world wide, scammers are already making performs to money in from the hype. Over 150 tokens falsely carrying the model names of assorted AI initiatives have just lately appeared on quite a few platforms, with nearly all of tokens issued on Binance Chain and Ethereum.
That’s what’s occurred this week in crypto, see you subsequent week.