9 October

“Square, the payments company helmed by Twitter CEO Jack Dorsey, announced Thursday it has purchased 4,709 bitcoins, a $50 million investment representing 1% of the firm’s total assets.

Square believes that cryptocurrency is an instrument of economic empowerment and provides a way for the world to participate in a global monetary system, which aligns with the company’s purpose.

Bitcoin’s price jumped 2.5% following the announcement, while shares in Square popped around 1%.

Square is also now the second technology firm to go long on bitcoin in recent months after MicroStrategy, a business intelligence firm, crowned the crypto as its treasury reserve asset of choice.”

“U.S. Attorney General William P. Barr announced Thursday the release of “Cryptocurrency: An Enforcement Framework,” a roadmap for policing the cryptocurrency landscape.

The framework provides a comprehensive overview of the emerging threats and enforcement challenges associated with the increasing prevalence and use of cryptocurrency.

An 83 page document accompanying the release included three sections – threat overview, law, and future strategies – to guide DOJ’s handling of the space.”

See Also: DOJ says use of privacy coins is ‘indicative of possible criminal conduct’

Ethereum Merges Phase 0 Spec

“The Travel Rule Protocol (TRP), a working group favored by banks and traditional financial institutions and focused on bringing crypto in line with global anti-money laundering (AML) standards, has released the first version of its application programming interface (API).

The product aims to offer a straightforward way for firms to swap identification data about the originators and beneficiaries of crypto transactions, as per the requirements of global AML watchdog the Financial Action Task Force (FATF).

It’s not surprising the TRP’s membership is growing, given the financial clout of its founding team. A spokesman for the working group said that while the names of new joiners could not be disclosed without their permission, it included four large exchanges and a host of large tech firms.”

“100x – the holding group for BitMEX operator HDR Holdings – announced founders Arthur Hayes and Samuel Reed have ‘stepped back from all executive management responsibilities for their respective CEO and CTO roles with immediate effect.’

Vivien Khoo, current chief operating officer of 100x Group, will become Interim CEO, while Ben Radclyffe, commercial director, will take on a supporting role.

Along with fellow founder Ben Delo, Hayes and Reed will no longer hold any executive positions within 100x Group. Further, Greg Dwyer, the head of business development, will take a leave of absence.

“‘Big Four’ professional services firm KPMG has announced a new patent-pending blockchain solution intended to help organizations measure, report and offset their greenhouse gas emissions.

The firm describes its Climate Accounting Infrastructure (CAI) as a transparent platform that offers companies a means to trace their emissions.

KPMG will work with businesses such as blockchain data visualization company Context Labs, software company Prescriptive Data and ConsenSys-backed Allinfra, a blockchain firm already working on carbon offsetting infrastructure.”

See Also: GM and Honda publish specs for decentralized electric car charging network

“In the top 10 by DeFi market capitalization alone, Aave (LEND) has lost 23.6%, Yearn Finance (YFI) is down 42.7%, and both UMA and Compound (COMP) are down a massive 63% in the last 30 days.

Despite these losses, DeFi as a whole continues to grow at a breakneck pace in terms of user counts – more than tripling in the last three months.

Similarly, the total value (TVL) of assets locked up in DeFi platforms has continued to grow over both 30-day and 90-day timescales. TVL of DeFi has increased by 17.7% in the last month and 293% in the last three.”

Dfinity ICP Token Economics

“Day explained that as more companies show interest in participating in this kind of technology, Google Cloud believes it can learn how to better support customers who wish to run validation nodes.

Google Cloud is not getting into crypto mining. This is really an infrastructure play for us.

Day said the partnership comes in the same spirit as the company’s February announcement of a partnership with Hedera Hashgraph. Google Cloud also recently became a network validator for Theta Labs.

When asked if the startup that ran a $4 billion initial coin offering had paid the cloud giant for expressing interest in validating the EOS blockchain, Block.one declined to comment further.

“For Navy Admiral Craig Faller, head of US Southern Command, the use of cryptocurrency throughout the “young democracies” of the Southern Hemisphere is a problem for the United States—and he is taking this “threat” very seriously.

Sixty percent of the cryptocurrency in the world is in this hemisphere, and a lot of that is because folks are trying to avoid regular order in the international financial system.

Cuba and Venezuela have notably made greater use of cryptocurrency in recent years as a way to circumvent the “regular order in the international financial system” and evade US sanctions.”