Exchange News
Coinbase announced Phase 2 of its “Go Wide, Go Deep” international expansion strategy. It stated that Phase 2 will focus on acquiring licenses, registering, and establishing and strengthening operations in markets that are “enacting clear rules”, with short-term priority markets comprising Europe (EU and UK), Canada, Brazil, Singapore, and Australia. “We are in the final stages of selecting the location of our MiCA center in the EU,” he said. The exchange will also work to expand products and services globally, establish partnerships and initiatives with banks, as well as work with G20 members and major financial centers to help build consensus and create global standards for the industry, he said.
Investment News
Coinbase Enterprises allocated its initial round of Base Ecosystem Fund investments into six projects: Avantis, bsx extension, Onboard, OpenDeck, Paragraph, and Truflation. The team received more than 800 applications, according to the announcement, but did not disclose investment amounts. The Foundation Ecosystem Fund was launched earlier this year to invest in the next generation of on-chain projects based on Coinbase. Foundation pink, I added.
Legal News
Crypto startup LBRY appealed a court decision that was not registered with the US Securities and Exchange Commission (SEC). “On November 7, 2022, the Court granted plaintiff’s Securities and Exchange Commission motion for summary judgment (Doc. 55) and found defendant LBRY, Inc. (“LBRY”) liable for violating Section 5 of the Securities Act of 1933,” he had said in the ruling.
Mining News
Bitcoin miner Riot Platforms said power grid operator Electric Reliability Council of Texas (ERCOT), USA, paid the company $31.7 million in energy credits last month to reduce its electricity consumption energy, saying that based on the August average price, the energy and demand response credits received were equivalent to approximately 1,136 BTC. “Texas experienced another month of extreme heat in August 2023, causing an increase in demand for electricity, in some cases approaching the total available supply. Riot continued to execute its energy strategy by reducing its energy use by more than 95% during peak demand periods. ”the company said.
Regulation News
The International Monetary Fund (IMF) and the Financial Stability Board (FSB) warned against outright bans on cryptocurrencies. They argued that it could not work since cryptocurrencies do not respect borders. Their joint report recommended targeted restrictions, sound monetary policies, licensing crypto service providers, and implementing the Financial Action Task Force’s (FATF) anti-money laundering and counter-terrorism financing (AML/CFT) standards.
Professional News
Galas Markets, a multi-dealer OTC electronic marketplace for crypto businesses and institutions, announced a new appointment to its leadership team: Krish Chatterjee has joined as an advisory member for business development in Asia-Pacific (APAC). Chatterjee previously held positions as a BD consultant at Infinito Blockchain Laboratories and as an International Sales and BD Manager at DTCO, where he collaborated with local partners to design sales strategies and promote blockchain solutions in various industries, according to an announcement. Additionally, Chatterjee offers mentoring for blockchain projects, “leveraging his extensive knowledge of tokenization and launch processes gained from working in the Net3 space,” he added.
By Leonardo Pérez
