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Cointime News Wrapup-Afternoon Version: Huobi Plans to Move Headquarters to Hong Kong from Singapore
To smooth and facilitate the reading experience for all users, we hereby compose this wrapup, especially for users who cannot check out what’s going on in a timely manner.
Golden Finance reported that the market showed BTC breaking through $68,500 and is currently trading at $68,501.99, with a 24-hour increase of 2.56%. The market is volatile, so please be prepared for risk control.
According to Aggr News, Tapioca DAO, a full-chain currency market based on LayerZero, may have been subject to a security breach. The specific details are currently unclear, and users should remain vigilant and avoid interacting with unknown links or suspicious activities.
EigenLayer X account is suspected to have been hacked, and a tweet was posted about the re-allocation of the remaining EIGEN tokens for the 2nd season Stakedrop, which includes a fraudulent link. Users should be cautious when interacting with it.
The United Arab Emirates is focusing on introducing a legal framework for decentralized autonomous organizations (DAOs) in the Ras Al Khaimah Digital Asset Oasis (RAK DAO), a free economic zone dedicated to digital assets. Law firm NeosLegal and RAK DAO announced that the new system will be launched and discussed at the DAO Legal Clinic on October 25th. Irina Heaver, a partner at NeosLegal, said that the framework is expected to clarify how DAOs can remain legally compliant, and she believes this will have a significant impact on decentralized governance in the UAE and the wider Web3 ecosystem. The announcement emphasizes that the legal structure will clarify tax obligations and benefits. It will also establish property rights for on-chain and off-chain assets and provide legal protection for the founders, members, and contributors of the DAO from personal liability. The legal framework will also enable DAOs to enter into legally binding contracts and establish guidelines for resolving internal and external disputes.
On October 18th, according to Bloomberg terminal data, as of October 15th, 2024, the total amount of US public debt reached a historic high of approximately $35.75 trillion. In just the past three weeks, US debt has increased by $455 billion.
According to Cryptoslate, the Minister of Justice of Montenegro, Bojan Božović, confirmed that a decision has been made regarding the extradition of Do Kwon, co-founder of Terraform Labs, and the extradition agreement will be signed before the end of this week. This decision was made after a long and controversial legal process that lasted for several months. Božović did not provide further comments on the details of the case, nor did he disclose where Kwon will be extradited to. He said, "As Minister of Justice, I have no further comments other than those already ruled by the Supreme Court."
Bitfish (@bitfish1) posted on X platform, stating that when there are security risks on the front end, hardware wallets should ensure asset security as the last line of defense. However, at present, blind signature issues are prevalent, which provides hackers with opportunities. This problem must be solved.
Deutsche Börse's Clearstream announced that its digital securities platform D7 has issued over 10 billion euros (11 billion US dollars) in digital bonds. Currently, D7 is mainly used for two types of issuance, namely large digital bonds and structured products. From a technical perspective, the D7 platform uses DAML smart contracts, and the latest version of DAML supports the Canton blockchain. Previously, Clearstream also participated in a practical experiment using the French wholesale central bank digital currency CBDC for settlement.
Lawyers from the US Commodity Futures Trading Commission (CFTC) argued in a brief submitted to an appeals court that a federal judge "wrongly" allowed Kalshi to list and trade election contracts, and reiterated many of its arguments made in a lower court. Last month, a judge ruled that the CFTC could not prohibit Kalshi from listing election contracts. The regulatory agency applied for a stay to prevent the company from launching the product before the appeal's outcome, but the court's judge ruled that the CFTC failed to prove irreparable harm would be caused.
The Hong Kong Securities and Futures Commission's official website updated information shows that the virtual asset trading platform license application submitted by Huobi HK to the Hong Kong Securities and Futures Commission was withdrawn on February 23. As of now, the number of applicants for virtual asset trading platform licenses revoked and returned by the Hong Kong Securities and Futures Commission is four, including Ammbr, BitHarbour, and Meex in addition to Huobi HK. According to information disclosed by the Hong Kong Securities and Futures Commission, reasons for license applications being returned, rejected, or withdrawn include but are not limited to the following:
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