Poly Network hacker started returning stolen funds to the DeFi protocol, while Riot Blockchain will open a new mining farm in Texas next year. These and more news in this practical daily summary so that you are always informed with the most recent events that occur within the crypto world.
Miners and Validators
📍Riot Blockchain will have 7,7 EH/s of power on the bitcoin network with its data center in Texas. The crypto mining company published a report July updates stating that its Texas data center could reach 7,7 EH/s of power by mid- or fourth quarter of next year.
The company also reported that it produced a total of 444 BTC last month, 770% more than the BTC production in July 2020. So far this year, Riot Blockchain has mined a total of 1.620 BTC from the network, worth close to $76 million, according to the current price of bitcoin at the time of this writing.
CBDC and Central Banks
📍The Central Bank of Ghana (BOG) will begin testing its CBDC with Giesecke + Devrient. According to reported The central bank, the German company Giesecke + Devrient will be responsible for providing the security technologies for the issuance of the central bank digital currency (CBDC). The BOG's goal is to pilot the first general-purpose (retail) central bank digital currency in Ghana, West Africa. The trials to be conducted in conjunction with the German company will involve banks, payment service providers, merchants, consumers and other stakeholders.
Cybersecurity
📍Poly Network hacker has started returning stolen funds. Poly Network lost nearly $610 million in what is the largest hack to occur in the DeFi ecosystem on Monday. However, the person responsible for the attack is beginning to return the funds. The developers of the DeFi protocol reported via Twitter about an agreement with the hacker, to send the stolen funds to a multi-signature address controlled by Poly Network or to three cryptocurrency addresses, Ethereum, BSC and Polygon, of the project.
According to the developers, the hacker has returned about $265 million as of this writing, sending the funds to the indicated addresses. Poly network also said that, apparently, the hacker is a “white hat”.
Rules and Regulations
📍SEC Chairman Gary Gensler responds to Senator Elizabeth Warren saying the regulator should have more authority to legislate on the crypto industry. The chairman of one of the world's most important financial regulators, the US Securities and Exchange Commission (SEC), sent a letter in response to a call for regulation from Senator Elizabeth Warren, a known skeptic of cryptocurrencies. In the letter, Gesler said that the SEC should have greater authority to regulate crypto assets in order to protect investors participating in the industry.
According to Gensler, investors are not adequately protected by US laws, so new regulations are needed that focus on “cryptocurrency trading, lending and (decentralized finance) platforms.” Recently, Brian Quintenz, commissioner of the US Commodity Futures Trading Commission (CFTC), stated that cryptocurrencies are commodities, so they fall under the jurisdiction of the CFTC and not the SEC, which should only regulate securities.
📍The state of Wyoming (United States) gives the green light to the fourth cryptocurrency bank within its jurisdiction. The authorities of the state of Wyoming, recognized as the paradise of crypto and blockchain in the United States, gave Commercium Financial the banking status of “special purpose depository institution (SPDI)”, to offer cryptocurrency and digital asset services to its clients and users. In its web pageCommercium Financial indicates that it is a Wyoming SPDI bank formed to serve as a custodian of digital assets and securities that can connect to the United States Federal Reserve System (FED).
Commercium Financial is the fourth approved cryptocurrency bank in Wyoming, joining Avanti, Kraken, and Wyoming Deposit and Transfer. However, none of these crypto banks have opened their doors to the public, as they have yet to receive a certificate of authority from regulators.
📍In China, the online payment platform Alipay wants to prevent speculation with NFTs. According to reported According to a local media outlet, the payment platform Alipay has updated the terms and conditions of use of its small NFT marketplace to prevent users from speculating on the value of these assets. The platform’s new terms of use indicate that users must maintain ownership of their NFTs for a minimum of 180 days, during which time they will not be able to sell, negotiate or trade the non-fungible tokens. In addition to this, the transfer and trading of NFT tokens on Alipay can only be done to accounts previously verified by the company; according to the company, the measure seeks to minimize the risks of illicit activities.
Continue reading: Bitcoin maintains its value after the passage of the US Infrastructure Act
