5 November

“Bitcoin hit a seven-week high after a better-than-expected U.S. jobs report in October showed that the labor market remains surprisingly robust even as the Federal Reserve pushes to cool down the economy. Ether (ETH) followed a similar trajectory, rising 5.6% to $1,620 as of press time.

Traditional markets also put up a strong performance Friday, with the Standard & Poor’s 500 Index up 0.2%.”

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Fintech firm Ripple is garnering more support from the crypto and finance industry in its ongoing battle with the United States Securities and Exchange Commission (SEC).

For those of you keeping count, 12 amici briefs submitted. It’s unprecedented to have this happen at this stage. They each explain – in their own unique way – the irreparable harm the SEC will do to every facet of the US crypto economy if it gets its way.

That growing number of supporters that have already filed briefs include Coinbase, the Chamber of Digital Commerce, the Crypto Council for Innovation, the Blockchain Association, Valhil Capital, I-Remit, Spend The Bits, Tapjets, the Investor Choice Advocates Network (ICAN) and John Deaton on behalf of more than 75,000 XRP investors.”

“European Union lawmakers won’t vote on the Markets in Crypto Assets regulation (MiCA) until February, likely meaning further delays in the landmark licensing regime for crypto companies within the bloc. A previous tentative plan for the Parliament to vote at its December plenary session has been abandoned given the length and complexity of the text.

The law’s provisions, which require crypto companies such as wallet providers and exchange platforms to seek authorization from national regulators, start to apply between 12 and 18 months after the final law is published in the EU’s Official Journal – an event originally foreseen for spring of next year, but which now seems set to be pushed back.”

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“Project Cedar, a research effort launched by the N.Y. Fed’s New York Innovation Center (NYIC), tested the speed of FX transactions using distributed ledgers, finding that in a simulated example, they could lower the speeds of transactions with multiple participants and observers. The project intended to research the benefits of wholesale CBDCs.

This indicates that a modular ecosystem of ledgers has the potential for continued scalability, and that distributed ledger technology could enable settlement times well below the current industry standard of two days, with the added guarantee of atomic settlement.

The test used an undisclosed permissioned blockchain network and was written in the Rust programming language – it did not provide many details about how the simulation was conducted or how they confirmed transaction settlements.”

Prosecutors have reportedly secured a “messenger conversation” in which Kwon ordered an employee to manipulate Terra’s market price.

CEO Kwon specifically ordered price manipulation.

The KBS report now suggests Kwon is residing somewhere in Europe, and as of Nov. 3, without a valid passport. ‘Do Kwon is now an illegal immigrant, wherever he is, in any country, and he cannot travel legally between countries.'”

“Bug bounty platform Immunefi has released its Whitehat Leaderboard — a scoring system that showcases the top 20 most elite white hats in Web3. According to the company, white hats who rank on the leaderboard will also be selected to earn further rewards, all-expenses-paid trips, exclusive merch, and speaking opportunities.

In Immunefi’s community, the top 10 white hats alone have generated over $42 million in total earnings by disclosing critical vulnerabilities that have led to big bounty payments.

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