Crypto News Flash

The European Parliament announced that the Commission voted overwhelmingly in favor of amending its capital requirements regulations and capital requirements directives applicable to banks holding cryptocurrencies.

According to a draft law, banks will be required to hold a risk-weighted exposure amount of up to 1,250% of their capital based on their exposure to cryptocurrencies.

The lawmaker said the changes were in line with changes at the Basel Committee on Banking Supervision (BCBS), which is responsible for international banking standards.

The group has published consultation papers in 2019, 2021 and 2022, exploring grouping crypto assets and recommending how banks should respond to potential risks. BCBS reports that banks have more than $9 billion in exposure to crypto assets by 2021.

Legislators of the Arizona Senate are considering a bill designed to allow voters to decide whether virtual currencies are exempted from property taxes. In the legislation submitted to the first session of the Arizona Senate in 2023, Senator Wendy Rogers, Sonny Borrelli, and Justine Wadsack proposed to let the residents of Arizona decide to amend the state’s constitution of the state’s property tax.

If the measure is passed in the legislature, voters can choose whether to exempt virtual currencies in the state in November 2024. According to the Constitution of Arizona, the property of all federal, states, counties, and cities is duty -free. The same is true of public debt, many family supplies and some “raw materials or finished products, unprepared parts, semi -finished products or finished products”.

According to the State State of Arizona, more than 4 million voters in November 2022 were remembered, and the state tended to the Republican Party slightly.

Legislators tried to promote legislation related to cryptocurrencies and taxes at the previous sessions. For example, the 2018 bill allowed residents to submit taxes by encrypted taxes before governor Doug Ducey rejected the bill.

Bankrupt crypto lender BlockFi has more than $1.2 billion in assets tied to Sam Bankman Fried’s FTX and Alameda Research, according to a mistakenly uploaded BlockFi document assembled by M3 Partners.

The balances shown in the unapproved BlockFi filing include $415.9 million worth of FTX assets and $831.3 million in Alameda loans. Lawyers for BlockFi said earlier that the loan to Alameda was worth $671 million, while another $355 million in digital assets was frozen on the FTX platform.

BlockFi’s exposure to FTX is greater than previously disclosed. Following FTX’s bankruptcy, the company filed for Chapter 11 bankruptcy protection in late November. FTX had agreed to rescue BlockFi before bankruptcy.

A lawyer for the creditors’ committee confirmed that the unredacted document had been uploaded by mistake, but declined to comment further. Lawyers for BlockFi did not respond to a request for comment.

SushiDAO’s proposal to transfer all SushiSwap fees to the SushiDAO treasury has been unanimously approved, and will implement the new fee-diversion protocol Kanpai’s rate adjustment, which will be increased from the default 10% to 100%.

According to the Snapshot voting page, 747 wallet addresses participated in this vote, with over 99% of the votes in favor.

It is reported that the new Kanpai rate will last for one year until SuShiDAO votes again to adopt a new Token economic model.

Ethereum co-founder Vitalik Buterin published a new blog over the weekend seeking to enhance privacy protection for blockchain users through a stealth address system. In his article, Vitalik Buterin points out that ensuring privacy remains a major challenge for the ecosystem and improving the situation is an important issue. Stealth addresses are generated by wallets and obfuscate public key addresses in order to conduct transactions in a private manner.

To access these private transactions, a special key called a spending key must be used. Given that transactions on the blockchain are public, privacy has always been a big concern for the Ethereum ecosystem.

Although some privacy mechanisms exist, such as Tornado Cash, it can only hide mainstream alternative assets such as ETH or major ERC-20 tokens. Stealth addresses will provide a mechanism to add privacy protection to NFT and ENS domain names.

The floor price of the Porsche NFT project PORSCHΞ 911 in the secondary market has fallen below its issue price of 0.911ETH, and is now at 0.909ETH.

The total number of NFTs in this series is 7,500, and as of now, the remaining 6,260 are available for batch casting. Some users believe that the reason why Porsche NFT has not achieved the expected effect is mainly because its expensive casting price strategy is not in line with the spirit of Web3. So far, Porsche officials have not commented on this matter.

From January 2023 to the present, the NFT market OpenSea’s transaction volume has reached 320 million US dollars, which has surpassed the 283.5 million US dollars in December last year. It is also a positive signal after the decline in transaction volume for several consecutive months.

Historical data shows that in January 2022, OpenSea recorded its best month ever with $4.86 billion in Ethereum NFT sales.

However, starting in 2022, OpenSea’s NFT transaction volume has reached at least US$2 billion for five consecutive months, but there have been sharp fluctuations during this period. In the past year, only December 2021 and January 2022 have seen continuous growth.

Etherscan records show that addresses related to the theft of $323 million worth of ETH in the cross-chain protocol Wormhole began transferring assets.

The attacker’s address integrated the stolen ETH, and converted 95,630 ETH (approximately US$157.2 million) into stETH through the DEX aggregator OpenOcean, and then stETH was converted into 86,473 wstETH.

The hacker also used wstETH as collateral to obtain a DAI loan of 13 million US dollars, which was used to purchase about 7989.5 ETH through KyberNetwork. The hacker repeated the process, continually increasing leverage.

Lookonchain monitoring data shows that Crypto.com’s 12 wallets hold a total of 44,456 BTC ($838 million), 760 million USDC, 522,446 ETH ($736 million), 55 trillion SHIB ($524 million), 21.6 100 million CRO ($141 million), etc.

Crypto.com holds $2.46 billion worth of BTC, ETH, USDT, USDC, DAI, and BUSD, accounting for 68%. Another 32% are illiquid assets. As previously reported, the encryption exchange Crypto.com announced the layoffs of the company, reducing the number of global employees by about 20%.

Grayscale responded to a briefing issued by the U.S. Securities and Exchange Commission (SEC) on December 9. Grayscale stated that the core view of the SEC is the regulatory sharing agreement between exchanges and CMEs for bitcoin futures ETFs (exchange-traded funds). Adequate protection is provided against fraud and manipulation in the bitcoin futures market, but not in the spot bitcoin market.

But any fraud that occurs in the bitcoin spot market is bound to affect the price of bitcoin futures, so the SEC’s view is illogical. The SEC will issue a final briefing on the matter on February 3.