Daily Crypto News

1. Singapore’s Central Bank Asks Crypto Firms to Submit Business Data — The Monetary Authority of Singapore (MAS), the country’s central bank, has asked some digital asset firm to submit data about their business activity, Bloomberg reported, citing people with knowledge of the matter. The central bank is set to make changes to its crypto regulation policies following the collapse of Singapore-based crypto hedge fund Three Arrows Capital and Singapore-registered Terraforms Labs and Vauld.
2. Animoca Brands’ Japan unit raises $45M at $500M valuation for NFT push —Asia's crypto games and web3 investment powerhouse Animoca Brands is making inroads into Japan as its local unit picks up $45 million in financing at a $500 million pre-money valuation. The investment, which was shelled out equally by the parent firm Animoca Brands and MUFG Bank, the largest bank in Japan with 360 years of history, comes at a time when the country is tightening regulations around the crypto industry.
3. Crypto Exchange Binance to Help S. Korean City of Busan Develop Its Blockchain Industry — Binance, the biggest cryptocurrency exchange by trading volume, signed an MoU with Busan, South Korea, to help the city develop its blockchain ecosystem and promote the Busan Digital Asset Exchange, Binance said in announcement Friday.
4. Compound’s Upgraded DeFi Lending Platform Targets Security, Scalability — Compound has launched a new version of its decentralized finance (DeFi) lending platform, Compound v3. The limited production release reduces the number of supported tokens that can be borrowed and collateralized on the protocol, according to a Thursday blog post from the protocol’s founder.
5. Binance to suspend ETH deposits, withdrawals during “The Merge” — Binance, the world’s largest cryptocurrency exchange by trading volume, said it will suspend deposits and withdrawals for ETH and ERC-20 during “The Merge,” in support of Ethereum’s migration to the proof-of-stake (PoS) model.
6. BTC miner Whinstone countersues Japan’s GMO Internet for US$15 mln — Riot Blockchain (RIOT)’s Bitcoin mining facility Whinstone is seeking at least US$15 million in damages from Japanese tech company GMO Internet in a four-year-long dispute over usage of mining equipment, according to a document filed in the U.S. District Court for the Southern District of New York on Monday.
7. NFT- and Metaverse-Related Cryptocurrencies Underperform as Floor Prices Sink — The Flow network’s FLOW token, which can be used to build NFTs and decentralized applications (dapps) such as games on the Web3 platform, slumped 20% during the past seven days. FLOW’s decline was the second largest during that period among 52 cryptocurrencies with a market cap over $1 billion, according to crypto data and analysis firm Messari.
8. Tether’s Tornado Cash Noncompliance Is Less Brave Than You Think — Tether Holdings Limited, the issuer of the world’s largest stablecoin, USDT, clarified in a blog published Wednesday that it will not “unilaterally” blacklist blockchain addresses tied to the sanctioned cryptocurrency mixer Tornado Cash. The move has been hailed by some in crypto as a brave stance against regulatory capture.
9. Tornado Cash was the preferred ‘laundering tool’ for most NFT scammers before it was sanctioned by the US Treasury, says Elliptic — Tornado Cash was the “laundering tool of choice” for 52% of NFT scammers, Elliptic Enterprises wrote in a report. Tornado Cash was the source of $137.6 million of cryptoassets processed by NFT marketplaces. The Treasury Office of Foreign Asset Control sanctioned the platform this month as North Korea and others leveraged it for asset laundering.
10. Crypto ATM Bitcoin Depot unveils US$885 mln SPAC listing plans — Bitcoin Depot has announced its backdoor listing plans on the Nasdaq by the first quarter of 2023 via a merger with special purpose acquisition company (SPAC) GSR II Meteora at an estimated equity value of US$885 million, the crypto ATM operator said in a statement.

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