Poly Network developers ask the hacker known as “Mr. White Hat” to please release the key to return the funds to users, while the hacker replies that he is not ready to release the key this week. This and more news in this handy daily summary so that you are always informed with the most recent events that occur within the crypto world.
Cybersecurity
📍Poly Network's fund refunds are delayed as developers plead for users' peace of mind. Poly Network hacker, known as “Mr. White Hat,” has saying who is not ready to hand over his private key this week, referring to the final key of the multi-signature address where the funds stolen from Poly Network were deposited last week.
As reported by Bit2Me News, Poly Network created a multi-signature address to receive a large portion of the $613 million that was stolen last week (except for the $33 million blocked by Tether to prevent the hacker from exchanging the money). The multi-signature address requires a signature from “Mr. White Hat” to release the funds so that developers can return the money to its owners; something the attacker intends to extend because he considers it “a fun game.” Poly developers are asking Mr. White Hat to return the funds for the peace of mind of all affected users.
“…We are still waiting for the key to be provided this week, as thousands of users are waiting to recover their assets. The sooner the asset recovery can be carried out, the more negative emotions will be avoided, and we believe that this is the right way to treat our users.”, the protocol developers wrote in a message sent to the hacker on Wednesday.
Bitcoin and Blockchain Adoption
📍Philips Sport Vereniging, known as PSV Eindhoven or PSV, has signed the first sponsorship contract paid in bitcoin in the European Union. The Dutch multi-sports club, which has one of the best professional football teams in the region, announced a association with Anycoin Direct to “raise awareness in cryptocurrencies” through a sponsorship paid entirely in bitcoin. PSV says it has its sights set on the promising future offered by bitcoin and cryptocurrencies. The sports club has also been dabbling in the crypto collectibles market in NFTs.
NFT and DeFi Markets
📍OpenSea withdraws Pepe The Frog-inspired NFT project at the request of its creator. According to Matt Furie, creator of Pepe The Frog, the project NFT “Sad Frogs District” has a theme that is quite similar to his creation, so he asked for its removal for copyright violation. Furie told OpenSea, the most popular NFT marketplace currently, that the creators of Sad Frogs are using images similar to his project without his permission. However, the creators of the collection assure that they are not violating Furie’s copyright, so they filed a counter-DMCA to OpenSea, in order to reinstate the project that in less than a month raised 4 million dollars from the sale of its NFTs.
📍Correos, Spain's state-owned postal service, will use NFTs to create its new stamps. Similar to what the United States Postal Service (USPS) is doing, Correos will do use of technology blockchain and NFTs to certify documents with unique and unrepeatable digital stamps that, in addition to providing a high level of reliability and security to the service, will also serve as crypto-collectibles, Indian the Europa Press.
CBDC and Central Banks
📍Jamaica anticipates savings from issuing digital currency while clearing up concerns about user privacy. The Central Bank of Jamaica said The Jamaica Observer told the Jamaica Observer that the issuance of a digital currency CBDC It is much cheaper and more feasible for long-term money production than the process of printing paper money. The bank also stated that the CBDC, by making use of blockchain technology, allows authorities to track payments and transactions made, although the country's confidentiality and customer data protection laws prevent the entity from accessing such information without a court order. Because of this, the Central Bank of Jamaica assures that it will only use general data for economic analysis.
To date, the Central Bank of Jamaica has minted J$230 million in digital currencies, under the pilot that the bank is currently developing and which it hopes to complete by the end of this year.
Development and Technology
📍Avalanche announces incentive program and AVAX price soars. According to data According to CoinGecko, the value of the AVAX token grew by more than 150% in the last month, after the protocol announced its plans to create an incentive program to incentivize the development of DeFi protocols and applications on the network. The Avalanche Foundation reported that the incentive program will total $180 million.
📍Vitalik Buterin suggests Proof of Stake and Proof of Humanity to advance decentralized governance. According to explained the co-founder and developer of Ethereum Vitalik Buterin, Proof of Stake and Proof of Humanity will help strengthen and advance decentralized governance (DeGov) from its current form to a much more efficient and trustless one. Buterin highlighted that developers and protocols need to focus on much more than token voting to fix the current flaws in digital governance systems in order to grow the DeFi ecosystem exponentially.
Rules and Regulations
📍Compound Labs' Jake Chervinsky warns of US' 'true' intentions in DeFi industry According to opinion According to Compound Labs' general counsel and member of the Blockchain Association, the US government wants to reach out to the industry DeFi through the infrastructure bill passed by the Senate a few days ago. Although the law is not yet final, and will move to the House of Representatives next month, Chervinsky notes that the law does not have much to do with cryptocurrencies themselves, but rather seeks to enter the decentralized finance ecosystem and increase oversight over the space without the need for a court order.
Some regulators have announced that miners, node operators, validators, and software developers will be outside the scope of the law’s enforcement, while custodial entities such as exchanges and intermediaries in the crypto industry will be subject to the law’s new reporting and tax regime starting in 2023. Crypto community leaders and several crypto-friendly senators are calling on regulators to modify the proposed law so as not to affect financial innovation in the country.
📍Regulators continue to crack down on Binance as the exchange hires former US Treasury officialIn the Netherlands, the De Nederlandsche Bank warned regarding Binance's operations, noting that the exchange is not authorized to provide its services in the country. Chile's Financial Market Commission also issued a advertisements about him exchange cryptocurrency exchange, citing a lack of regulation to operate in its jurisdiction. With the Dutch bank and the Chilean authority, Binance has already received about a dozen warnings this year. The United Kingdom, Japan, Canada, Italy, Poland and the administrative region of Hong Kong are some of those where regulators are carrying out greater scrutiny on the platform's cryptocurrency trading operations.
On the other hand, the exchange announced recently hired Greg Monahan, a former investigator for the United States Department of the Treasury, as part of its strategy to strengthen its fight against money laundering and mitigate global regulators.
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