20 December

The bid represents the fair market value of Voyager’s cryptocurrency portfolio, which has a current market value of around $1.002 billion, and an additional consideration of $20 million in incremental value. Binance.US will make a good faith deposit of $10 million and will reimburse Voyager for certain expenses up to $15 million.

The Binance.US bid aims to return crypto to customers in kind, in accordance with court-approved disbursements and platform capabilities.”

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Fireblocks has received the Cryptocurrency Security Standard (CCSS), a first-of-its-kind certification that was built as a security standard for crypto wallets and custody. The certification analyzes how a provider generates keys, the hardware it uses and how the policy and workflow engine works, as well as the cybersecurity controls used.

Fireblocks received a level three certification – the highest there is – and the one most suitable for enterprises. To win the level three standard, ‘multiple actors are required for the all-critical actions, advanced authentication mechanisms are employed to ensure authenticity of data, and assets are distributed geographically and organizationally.’

An in-depth and rigorous audit was conducted of Fireblocks’ people, processes, and technology components for compliance with the CCSS and found that Fireblocks went above and beyond the CCSS Level 3 requirements.

Fireblocks’ clients include Bank of New York Mellon, Robinhood and fintech company Revolut, among others.”

Grayscale Investments is exploring options to return a portion of capital of its flagship Grayscale Bitcoin (GBTC) product if the Securities and Exchange Commission (SEC) refuses to approve its spot bitcoin exchange-traded fund (ETF), the firm said in an investor letter.

One option is to offer tender for up to 20% of outstanding GBTC shares, which are currently trading at a 49% discount to net asset value (NAV). At least in the short term, the Grayscale announcement appears to be having its desired effect, with shares in GBTC up 4.1% early Monday morning.

In June, Grayscale sued the SEC hours after the U.S. regulator rejected its ETF application.”

Ethereum in 2023 with Vitalik Buterin

Democratic members from the United States Democratic National Committee (DNC), the Democratic Congressional Campaign Committee (DCCC) and Congressman Hakeem Jeffries were contacted by SBF prosecutors for information to aid their ongoing investigations, according to a New York Times report.

On Dec. 17, three prominent Democratic groups — the DNC, the Democratic Senatorial Campaign Committee and the DCCC — have reportedly decided to return SBF-linked donations to FTX investors, which together exceed $1 million.

Given the allegations around potential campaign finance violations by Bankman-Fried, we are setting aside funds in order to return the $815,000 in contributions since 2020.”

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“According to Chainalysis, 2022 is on track to be the worst year on record for funds stolen through hacks and exploits. Some $3 billion was stolen, at last count.

The Ronin hack is particularly notable. In March, North Korean-linked Lazarus Group expropriated about $620 million worth of ETH and USDC from the Ronin Network, a sidechain built for the popular Web3 game Axie Infinity. The list goes on and on.

Fortunately, there’s hope. Protocols can up their game when it comes to auditing code, monitoring network activity and setting clear attack response plans when an exploit does occur. If the industry takes note and implements these protections, it’s very plausible years like this will remain in the rear view mirror.

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From using the bot for smart contract auditing to enhancing user interactions with AI, various executives gave their thoughts on how the new AI tool will have an impact on the Web3 industry.

This could potentially improve the efficiency and accuracy of the development process. It can be used positively within an enterprise’s security and development workflow, which increases the defense capabilities above the current security standards.”

“The U.K.’s wide-ranging Financial Services and Markets Bill (FSMB) has already been debated in the House of Commons and is set to have its second reading in Parliament’s upper house, the House of Lords, by Jan. 10. The FSMB is crucial because it will make way for crypto to be regulated in the U.K.

If the FSMB is passed as is, it will ensure crypto is treated as a regulated activity and give the Financial Conduct Authority (FCA) and Payments Systems Regulator power to regulate the sector and protect consumers.

This is of course an important milestone and will enable us to make substantial progress on the provisions within the Bill, including repealing and replacing burdensome pages of retained EU (European Union) law governing the sector, measures to embrace crypto asset technology, and measures to protect the consumer.”

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