• Sat. May 21st, 2022

Polygon’s Supernet, Stripe’s Crypto Move, Ulbricht’s Bitcoin Deal, Macron on Crypto Regulation + More News

ByHazel R. Lang

Apr 22, 2022
Source: AdobeStock / rarrarorro

Get your daily digest of crypto-asset and blockchain-related news – by investigating stories that fly under the radar in today’s crypto news.


Adoption News

  • Ethereum (ETH) scaling solution Polygon (MATIC) has launched a new blockchain network, Supernets, and said it will invest $100 million in projects that use it and want to scale their growth through a dedicated Supernet channel, VentureBeat reported. He explained that a supernet is an Internet network formed by combining multiple networks, or subnets, into a larger network.
  • online payment company Bandaged and social media giant Twitter will pilot stablecoin payments for certain users of Twitter’s content monetization products, Reuters reported. Eligible users of Twitter’s Ticketed Spaces and Super Follows programs will be able to receive their earnings from the company in USD coins (USDC). They can keep their earnings in crypto wallets on the Polygon network and exchange them for other currencies. Stripe plans to add payment options in other cryptoassets in the future, according to the report.
  • The Bahamian government will allow Bahamians to pay taxes using digital assets, according to a white paper that outlines the national digital asset strategy through 2026. The government will also begin allowing Bahamians to access digital assets. digital using the Bahamian Sand Dollar, a digitally issued central bank. currency launched in 2020.

Legal news

  • Ross Ulbricht, the doomed creator of the Silk Road dark web market for drugs, reached an agreement with prosecutors stipulating that part of a new Silk Road bitcoin (BTC) hoard, seized from an anonymous hacker, will be used to reverse the restitution of more than 183 million dollars that Ulbricht was ordered to pay as part of his sentence, Wired reported. In exchange for this, Ulbricht will relinquish any ownership he may have of the coins, according to the report.
  • Major crypto exchange Binance is seeking to be fired from an $8 million lawsuit in which a woman accuses the exchange and others of orchestrating and aiding a romance scam, according to Law360. They say the plaintiff has no jurisdiction over them because the exchange does not operate in the United States.
  • United States justice department announced the arrest of Chet Stojanovich, aka “Chester J. Stojanovich”, accused of defrauding more than a dozen victims of more than $1.8 million, through fraudulent misrepresentations that he would provide victims of specialized miners and miner hosting services that provide victims with a lucrative stream of hashing power. The charge carries a potential maximum sentence of 20 years in prison.

Regulatory News

  • Emmanuel Macron, the French president and current presidential candidate, has said he is in favor of “rapid progress” on the regulation on crypto-asset markets (MiCA) which aims to provide a legal framework for the development of crypto-asset markets. . within the EU, according to an interview with The Big Whale. He said that “France will be very careful that the text does not prevent innovation and remains as technologically neutral as possible”, adding that “[w]what is happening should also lead us to move much faster on the subject of the digital euro.”
  • United States Office of the Comptroller of the Currency (OCC) issued a consent order against Anchorage Digital Bank, which they claim is based on the bank’s failure to adopt and implement a compliance program that adequately covers the required elements of the Bank Secrecy Act/anti-money laundering (BSA/AML) program. The bank has 15 days from the date of the order to appoint a compliance committee which will be responsible for preparing regular progress reports.

Trade news

  • Currency.com announced its expansion into the United States. Registered with the Financial Crimes Network (FinCEN) as a money services business, it will allow US residents to trade cryptos in 48 states and territories. Customers in New York and Hawaii will be able to access the exchange in the coming months, they added.
  • Changpeng Zhao, CEO of Binance, wrote on Twitter that the North Korean hacker group behind the Axie Infinity The Ronin Bridge Attack from (AXS) attempted to move their funds through the exchange, spread across 86 accounts. He added that $5.8 million had been recovered.

Investment News

  • Web3 and blockchain security company CertiK announced an additional investment of $60 million from SoftBank Vision 2 Funds and world tiger. This funding brings the total amount invested in CertiK over the past nine months to $290 million, they added.
  • The financial branches of South Korean banks shinhan and Kookmin (KB) have joined the search engine giant Naver in an investment round worth around $13.6 million for the crypto disclosure platform xangle. According to EDaily, an anonymous industry insider said that although both KB and Shinhan have made crypto-related investments in the past, Naver’s involvement was “remarkable” as the search engine operator “rarely” makes such “direct investments”. Another expert said it’s possible Naver is considering a “strategic collaboration” – and considering the provision of “crypto-asset related services”.
  • investment firm Andreessen Horowitz (a16z) announced the creation of a16z crypto researcha lab that will work closely with their wallet and others to solve problems in the crypto industry.
  • Decentralized Finance Protocol (DeFi) Bastion announced that it raised $9 million in a Series A funding round led by Capital of the Three Arrows. The project plans to roll out new features such as leveraged farming, interest rate swaps, new asset listings and others in the coming weeks, they added.
  • Digital Economy Bank MetaLend announced the closing of a $5 million seed funding round led by Pantera Capital. The funds will be used to expand their coverage to other play-to-earn games in the coming months, they added.

Career news

  • Decentralized privacy system Nym announced that advisers consisting of George Danesiz (ex-Meta), Aggelos Kiayias (Global IO), Ben Laurie (Google), and Bart Preneel (KU Leuven) have joined their scientific council. They added that a fund for developers and the Nym ecosystem is being created.

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