Nasdaq Inc (NDAQ.O) is placing a big bet on the cryptocurrency market, with the launch of a digital assets business that is aimed at tapping institutional investors.
The new unit, Nasdaq Digital Assets, will offer custody services for cryptocurrencies, including bitcoin and ethereum, potentially pitting it against firms such as Coinbase (COIN.O), Fidelity Digital Assets and Winkelvoss twin-owned Gemini that offer similar products.
Nasdaq has hired Ira Auerbach, a Gemini executive, to lead the new unit.
The stock exchange has also expanded its anti-financial crime technology to detect and curb money laundering, fraud and market abuse risks, it said in a statement on Tuesday, as the market is constantly on the regulator’s radar.
The crypto market is reeling from a major rout, forcing some of its biggest players to lay off thousands of employees in a bid to cut costs. Bitcoin has crashed nearly 60% this year, driving companies such as Celsius Network and Voyager Digital Ltd to file for bankruptcy.
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US, NY, 22nd September, 2022, Chainwire
As the Bored Ape Yacht Club (BAYC) continues to reign the NFT space and going well beyond towards the mass adoption, we see the rise of projects using the full potential of renowned jpegs – as BAYC owners have full intellectual property rights over their NFTs. Recently the ecosystem has attracted a lot of big names that utilize IP offered by BAYC, like Snoop Dogg and Eminem who smashed the VMAs rocking their ape personas like nobody’s watching.
Now the Yuga Labs IP ecosystem is joined by the Bored & Lucky, the world’s first Bored Ape raffle platform. The platform offers everyone a fair chance to win blue chip NFTs and join some of the most exclusive NFT-gated communities in Web3, like BAYC, MAYC, and CryptoPunks.
How it works
The whole process is fully transparent – all Bored & Lucky raffles are Ethereum smart contract based. The NFT prize and the funds received from the ticket sales are locked in the contract and the only way to release them is via a raffle process that is 100% fair for all parties involved.
The winning ticket is determined in a completely random and fair manner. To guarantee transparency and unbiased approach the winner is determined by smart contract via transaction on blockchain using Chainlink VRF to independently generate a random number to draw a winner.
There are currently 3 open raffles featuring a MAYC, a BAYC, and a CryptoPunk, with the very first DeadFellaz #1175 NFT already raffled away to a new winner.
Who is BAYC #4619
BAYC #4691 is an incredibly lucky ape who has made his fortune on smart crypto investment choices. A real connoisseur of art and all things classy, he’s now chasing away the boredom by spreading the luck and organizing raffles with life-changing blue chip NFTs.
For more information on Bored & Lucky visit https://boredlucky.com/
About Chainlink
Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.
For more information on Chainlink visit https://chain.link/
About Yuga Labs
The possibilities for blockchain’s impact on culture are endless. Yuga Labs is a Web3 platform building most known for the creation of the Bored Ape Yacht Club and a recent Metaverse project Otherside, as well as acquisition of CryptoPunks and Meebits.
For more information on Yuga Labs visit https://www.yuga.com
Contact
- BAYC #4619
- boredlucky@gmail.com
Seoul, South Korea, 22nd September, 2022, Chainwire
The NFT Marketplace Calls out To NFT Investors To Grab its Super Successful NFT Before The Launch Of Its New Game ‘Tournaments’ That Will Give Special Access To Existing NFT Holders.
As soon as the Blockchain Gaming Platform and NFT Marketplace, PlayDapp, launched its Non-Fungible Token (NFT) collection ‘PlayDapp Members+ Mikey NFT’, the entire collection of 10,000 free minting NFTs was sold out within three hours. The collection featured DJ Mikey, a badass teenage red panda triumphing his way to Superstar DJ status.
PlayDapp Members+Mikey NFT collection was traded in the marketplace from September 6th to 18th 2022, making a transaction volume of $17,296. With the starting daily floor price for Mikey NFT being at $4.39 during the time of its launch, its floor price skyrocketed to $5.91 marking an increase of 34.6% on its last day of trade. A total of 3,992 NFTs were transferred or sold.
With the success of its PlayDapp Members+Mikey NFT collection, the PlayDapp team hopes NFT enthusiasts will join the community and it’s exclusive club before the main utility and feature of the NFTs kick in with the soft-launch of its newest hyper-casual game ‘Tournaments’ on September 26 that will bring a world of perks to its NFT holders.
PlayDapp’s NFT holders are granted special access to the game tournaments where they will receive more token rewards of $PLA, the Ethereum token that powers PlayDapp, as compared to its non-NFT holders. Moreover, PlayDapp NFT holders are granted more chances to play the game than non-NFT holders which implies that the former potentially gets more chances to try to win the $PLA rewards.
“We are over the moon to have our NFT collection sold out in just 3 hours. From what started as a free minting NFT, the market added value to it making it our top-seller,” says Peter Song Head of Global Marketing at PlayDapp. “It is a very exciting time for us, and now we can’t wait to introduce our new game Tournaments to the market which will boost the demand for our NFTs and make them more valuable,” he adds.
About PlayDapp
PlayDapp is a global blockchain middleware provider that provides companies with the opportunity across many different industries to integrate blockchain technology into their business models and easily turn their assets into Non-Fungible Tokens (NFTs). PlayDapp’s blockchain-based C2C Marketplace allows gamers and users to freely buy, sell and trade their digital assets with each other.
To buy PlayDapp Members+ Mikey NFT, please click on the link here.
For more information, please visit https://members.playdapp.com
PlayDapp is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest.
Contact
Head of Global Marketing
- Peter Song
- PlayDapp
- media@playdapp.io
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Zug, Switzerland, 22nd September, 2022, Chainwire
Unveiling multiple technological breakthroughs, SupraOracles is excited to announce its novel cross-chain oracle infrastructure enabling highly accurate, robust data porting across a multitude of blockchains and DLTs with only 3-5 second finality. Now, with over 550+ signed integration partners, they’re officially announcing the launch of their Alpha testnet as they progress towards mainnet in early 2023.
To jumpstart momentum, Supra has partnered with Dorahacks, the host of BNB Grants and BNB Global Hackathons, by sponsoring and providing its oracle service to over 4,000-5,000 developers worldwide. Developers interested in adding this new, institutional grade oracle to their Web3 toolkit are invited to apply to the Supra Network Activate Program: https://join.supraoracles.com/network-activation-program
Oracles play a key role in Web3 projects. Developers need oracles to securely connect their decentralized applications (dApps) with timely, accurate data originating from other blockchains or real-world sources. This opens up a world of use cases such as exotic derivatives backed by real-world assets, options markets, multi-lateral clearing and settlement across public blockchains and DLT networks, that otherwise are simply not feasible with incumbent oracles today.
Supra’s PhD driven research team, led by the renowned Dr. Aniket Kate, has prioritized a number of novel principles in their design that brings a new gold standard to how oracles should perform. The most crucial being security of the core data, decentralization of nodes and consensus, auditability of data provenance, and cost efficient, predictable budgeting for consumers.
With these innovations, Supra has received recognition from Web3 incubators like Mastercard’s Start Path program, Berkeley Blockchain Xcelerator, and Silicon Valley’s Plug and Play, which recently named Supra among their top 10 up-and-coming Web3 projects.
Supra is drawing near to the launch of their incentivized testnet in Q4, with a roadmap that includes activities for developers to begin their testing:
- 2022 Early October: Launch Data Dashboards, documentation for Ethereum, BNB Chain, Polygon, Avalanche, Aptos testnet chains
- 2022 Late October: Supra’s VRF service documentation
- 2022 November: Node Operators Onboarding launch
- 2022 December: Incentivized testnet live, whitepapers unveiled
- 2023 Early Q2: Mainnet goes live
Node Operators interested in learning about Supra’s block rewards and incentivization programs are invited to join the Discord community to know more: https://discord.io/supraoracles.
SupraOracles CEO, Joshua Tobkin commented, “We’ve built oracles that will undoubtedly exceed the typical expectations of cross-chain solutions, and we’re proud to bring forth a world-class product to the industry to help blockchains do even more incredible things.”
About SupraOracles
SupraOracles is supercharging oracles for a better, decentralized future. Blockchains need better, faster, accurate, and more secure off-chain data. SupraOracles provides a next-generation cross-chain oracle solution so smart contracts and blockchain apps work better.
After 5+ years of research, and thousands of hours of R&D and simulations, SupraOracles’ revolutionary technical breakthrough helps solve the Oracle Dilemma while improving performance across the board. The team’s academic mindset forms the bedrock of the organization and reinforces their commitment to deep research and a rigorous scientific process in everything they design and build.
Contact
Media contact
- Christopher Sealey
- SupraOracles
- chris@serotonin.co
A hotly contested disqualification fight at the 11th U.S. Circuit Court of Appeals should provide a good indication of just how much damage the crypto law firm Roche Freedman is facing after last month’s revelation of surreptitious video recordings of name partner Kyle Roche.
The anonymous website Crypto Leaks published video clips of Roche, a well-known crypto litigator, last month. Roche appears to boast of a lucrative financial stake in blockchain company Ava Labs Inc and to suggest that he filed class actions against Ava competitors to benefit the blockchain company. Roche also seems in the video clips to disparage class action plaintiffs as “100,000 idiots out there” and to criticize jurors as “idiots.”
Roche, who did not respond to a query, has denied any improper litigation conduct, asserting in an Aug. 29 Medium post that the videos were illegally recorded by an operative working for a defendant in a class action filed by Roche Freedman. Roche also said that the clips were selectively edited, that he was intoxicated when the recordings were made and that Ava had no say in Roche Freedman’s crypto class actions.
The firm itself has acknowledged that Roche’s comments about class members and jurors were “inappropriate,” though it has also echoed Roche’s assertion that he was illicitly taped in a “set-up orchestrated by a defendant.” The firm contends that Roche’s boasts about using class action litigation to further Ava’s interests were “plainly false,” describing Roche’s statements as a misguided attempt to impress the purported venture capitalist he believed he was meeting with.
Roche Freedman nevertheless removed Roche from its class action practice, including ongoing cases against stablecoin creator Tether Ltd and crypto exchange Bitfinex, citing the “regrettable distraction” the videotapes have prompted.
That action has not appeased some critics. Roche Freedman is facing calls for disqualification in the Tether case not just from defendants but also from its own co-counsel at Selendy Gay Elsberg and Schneider Wallace Cottrell Konecky. U.S. District Judge Katherine Polk Failla of Manhattan has scheduled an Oct. 3 hearing on the disqualification requests, which contend, among other things, that Roche Freedman’s continued involvement in the class actions will bog down the litigation in discovery about Roche’s conduct.
But in the meantime, Roche Freedman is also fending off a disqualification motion at the 11th Circuit by Craig Wright, the self-proclaimed Bitcoin inventor who was hit earlier this year with a $143 million judgment in a case that Roche Freedman litigated on behalf of the estate of Wright’s onetime business partner David Kleiman. I’d argue that the outcome of the 11th Circuit disqualification will tell us even more than the Tether case about the extent of damage to the firm from the Roche tapes.
Roche Freeman’s client, which sought hundreds of billions of dollars from Wright, initiated the 11th Circuit appeal, despite obtaining a $143 million judgment from the trial court. Roche Freedman and co-counsel from Boies Schiller Flexner argued in their opening brief that the trial judge committed several critical errors before and during the 2021 trial against Wright, which ended with a $100 million jury verdict on one of the estate’s claims, but a defense verdict on a dozen other demands. Wright has not cross-appealed the judgment.
The timeline is significant. Roche and Freedman began representing the Kleiman estate back in 2018, before they even left Boies Schiller to found their own firm. Ava Labs did not exist when they first filed the estate’s suit against Wright. And according to Roche Freedman, the two name partners were nearly two years into the estate’s case against Wright before they were engaged to do any legal work for Ava.
So what does the Wright case have to do with Roche’s videotaped comments about his relationship with Ava?
There’s just one direct link, according to the Sept. 6 disqualification motion filed by Wright lead lawyer Andrés Rivero of Rivero Mestre. Roche allegedly referred to Wright in one of the video clips at Crypto Leaks as a “nemesis” of Ava’s founder, suggesting a motive to push hard against Wright. The disqualification motion also theorized that Roche’s boasting about his own wealth suggests that he does not feel constrained to put his clients’ interests ahead of his own. In this case, Wright’s motion argued, Roche Freedman blew up a potential settlement that would have benefited the estate.
But mostly, the brief is an opportunity for Wright and Rivero to highlight Roche’s unsavory comments, including his assertion that jurors and class members are “idiots.” The filing, in effect, invites the 11th Circuit to join in Wright’s disapprobation.
“[Roche’s] admissions of wrongdoing demonstrate the firm’s unlawful ‘business plan’ and its ongoing efforts to subvert the fair administration of justice, which heap scorn and disrepute upon the legal profession and every court (including this one) in which the firm has appeared,” Rivero argued.
Roche Freedman’s Sept. 19 response emphasized that the Wright litigation was well under way before Ava existed and was tried to a verdict months before Roche was videotaped.
“Wright’s suggestion that this action was brought for an improper purpose defies logic,” Roche Freedman said. “To state the obvious, this action was brought because plaintiffs — who have never met anyone from and have no affiliation with Ava Labs — believed in good faith that Wright converted their valuable bitcoin and blockchain-related intellectual property.”
Freedman elaborated via an email response to the query I sent to him and Roche. “Wright’s motion is frivolous,” he said. “While we understand he has a personal animus against the firm, we’d have hoped that wouldn’t be reflected in his filings. Unfortunately, we were wrong.”
Wright counsel Rivero retorted: “Their response doesn’t even start to address their confessed misconduct.”
Freedman said he does not expect other Roche Freedman adversaries to follow Wright’s lead. I’ve been writing about litigation for long enough to predict that if the 11th Circuit grants Wright’s motion, despite the relatively tenuous connection between Roche’s taped comments and his firm’s litigation against Wright, we can expect Roche Freedman opponents to pile on with their own disqualification motions.
The 11th Circuit motion is basically a test of whether judges can stomach Roche’s conduct. If they can’t, Roche Freedman could be in big trouble.
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Majuro, Marshall Islands, 21st September, 2022, Chainwire
What’s better than low fees? No fees. Gate.io is excited to announce ZERO trading fees on most spot and contract market trading pairs. The no-fee structure was launched in two phases, first on September 16 (UTC) and then on September 20 (UTC), for spot and other markets, respectively.
After a breakthrough year for the exchange, this radical change in fees is an ambitious move to give back to the crypto community. The removal of fees on this scale is unmatched by any other mainstream exchange, making Gate.io the industry’s most affordable platform for crypto trading.
Zero-fee breakdown
As a gesture of goodwill to millions of users worldwide, maker and taker fees on all spot market USD, BTC, and ETH quote currency trading pairs and BTC/USDT have been completely removed as of September 16 (UTC). As of September 20 at 10:00 (UTC), there will be no fees on all spot ETF pairs, USD-M and BTC-M perpetual futures pairs, USDT-M and BTC-M delivery futures pairs.
USD-pegged stablecoins such as USDC, TUSD, PAX, BUSD, and HUSD are denominated in USD and can be traded as USD spot pairs without the need for conversion and with no fees. With USD-pegged stables being the most commonly traded stablecoins on the market, having no fees helps make trading much cheaper. These reduced fees will remain in place indefinitely until further notice.
United with the crypto community
The crypto market has been pretty sluggish so far this year, so Gate.io is lending a hand to users so they can weather the storm together.
Though recently, Ethereum’s Merge has managed to spark the interest of its supporters and the entire crypto community. The ability to trade ETH at no cost will support the Ethereum community and, as an extension, its thriving ecosystem. And regardless of the ongoing bear market, Bitcoin still stands as the most traded digital asset by a wide margin. Making BTC a no-fee asset helps ease the trading experience for millions of users.
Fewer fees. Fewer worries.
Gate.io makes trading a secure, easy, and low-cost experience so traders can better focus on their positions and strategies and worry less about the rest.
Eliminating trading fees is another user experience enhancement following Gate.io’s 9th anniversary, which also included refreshed branding, lower and more flexible fees platform-wide, trading competitions with multi-million dollar max prize pools, and much more.
On Gate.io, user asset security is always priority number one. It was the first exchange to provide verifiable user asset reserves audit by a certified firm and is currently in the process of another audit. Meaning all user assets on the exchange are genuinely held and available for withdrawal at any time.
With nearly a decade of refinement, fine-tuning, and industry experience, Gate.io provides a comprehensive and safe trading experience trusted by millions of crypto users worldwide. Users can trade over 1,500 cryptocurrencies on over 2,500 trading pairs in the spot and futures market and access lending, contracts, options, NFTs, Web3, copy trading, exclusive fee discounts and bonus rewards.
About Gate.io
Established in 2013, Gate.io is one of the pioneers in the crypto industry. It has established a comprehensive ecosystem, which includes a cryptocurrency exchange, public blockchain, decentralized finance, research and analysis, venture capital investing, wallet services, startup incubator labs, and more.
Gate.io offers services related to trading multiple leading digital assets, and it has grown to serve over 10 million users worldwide. It has been consistently ranked as one of the top 10 cryptocurrency exchanges based on liquidity and trading volume on CoinGecko and has received a rating of 4.5 by Forbes Advisor, making it one of the Best Crypto Exchanges for 2021.
Contacts
Head of PR & Communication
- Dion Guillaume
- Gate.io
- dion@gate.io
San Francisco, California, 21st September, 2022, Chainwire
As part of a drive to strengthen its contribution to the Nigerian economy, the Lekki Free Zone Development Company (LFZ) is in talks with Gluwa, a blockchain technology company. The pair are looking to partner and use blockchain to foster trade collaboration, growth, and sustainability among new and existing Free Zone enterprises. The partnership would also explore the creation of a Virtual Free Zone within the Lekki Free Zone.
Lekki Free Zone’s Head of Strategy, Innovation & Special Projects, Mr. Tomiwa Idowu, has disclosed that discussions are ongoing between LZF, the Nigerian Export Processing Zones Authority, and the Gluwa team.
In a statement, Idowu explained that the partnership, when finalized, will create a dashboard for the tokenization of goods into NFTs (non-fungible tokens) and provide digital asset-backed loans for new and existing enterprises who are looking to fund operations and/or expand their businesses, similar to the integration of OpenSea and Compound.
Idowu shared his vision for innovating the trading and industrial sector in Nigeria and Africa as a whole, bringing it into the modern information age with the Lekki Free Zone at the epicenter.
“I am extremely excited by the enormous potential of such a partnership, which would further establish Lagos State as Africa’s leading sub-national in terms of innovation, economic development and revenue generation,” said Idowu.
He commended the Lagos State Governor, Babajide Sanwo-Olu, as a beacon of progress and hope for the nation in general, saying: “Our Governor has always been a firm believer in fast-paced development, which involves using technology to leapfrog bureaucracy and going straight to solving immediate problems.”
Chief Executive Officer at Gluwa, Tae Oh, noted that the firm is keen to partner with the Lekki Free Zone as it is the largest and most developed Free Zone in Nigeria with proximity to the deep-sea port as well as the Dangote refinery, saying: “Trading has been the bedrock of the Nigerian economy, with annual volumes running into billions of dollars.”
He added: “We believe the digitization of the sector can allow us to harness its full potential. For instance, a standard process to digitize goods manufactured or processed within the zone in tandem with a market system on web3 will allow manufacturers to trade globally via the blockchain.
“All trades will be registered and benefit from the incentives of the Lekki Free Zone, such as zero taxation and free circulation of goods. As soon as the goods get settled for export by the in-Zone Customs Processing Center, they will get shipped out straight from the Lekki Free Zone via the deep-sea port.
“This will reduce delays, eliminate human errors, exponentially drive up Nigeria’s non-oil exports and sustain a positive trade balance for the nation. While we are still working out the fine details and a specific framework with NEPZA, we believe it is the future of commerce and trade in Africa.”
About Gluwa
Gluwa is an Open Finance platform, connecting capital from developed markets to emerging market lending opportunities using blockchain technology. By providing the decentralized infrastructure rails to raise and disburse capital anywhere in the world, investors can use the Gluwa Invest platform to partake in debt-financing deals with emerging market fintech lenders, earning up to 15% APY.
Contacts
VP of Business
- Aston Lee
- Gluwa
- support@gluwa.com
San Francisco, United States / California, 20th September, 2022, Chainwire
Vehicle theft is a common concern in Europe and Roole, a French automobile club, announced today their partnership with Nodle to help car owners trace and recover their cars. Nodle is a decentralized network of smartphones that work together to locate and connect smart objects, such as Bluetooth tags embedded within vehicles. Nodle users are rewarded with the NODL cryptocurrency in exchange for helping grow the mobile network and locating stolen vehicles.
Off-the-shelf Bluetooth tags are placed on the vehicle, and when an owner reports a vehicle is stolen, the Nodle Network searches for the tag in question. When a vehicle is discovered, the detection is securely routed to Roole.
The entire process, from contributing to the Nodle network to locating vehicles, is based on privacy-first principles where no direct personal data, such as first or last names, are collected.
“We are excited to pilot the Nodle network with our fleet,” says Thomas Fournier, CEO of Roole. “Multiple, low-cost smart sensors prevent stolen vehicle disassembly, a common practice in Europe where stolen vehicles are sold for parts,” says Fournier. “If a car is stolen from France, for example, and ends up in another country, there’s a good chance we’ll find it, thanks to our partnership with the Nodle Network”
“Roole represents the first step in moving enterprise asset tracking towards a more secure and private model leveraging a decentralized architecture,” says Micha Benoliel, Nodle Founder and CEO. “On-chain services such as Roole provide a powerful, real-life use case for the Nodle network and drive value that anyone with a smartphone can benefit from in the form of Nodle’s native token, NODL.”
Using the Nodle Network’s on-chain API to locate vehicles, Roole works anywhere Nodle exists. This means that if a vehicle ends up in another country, the vehicle can still be located. There are no complex roaming agreements, expensive cellular modules, or GPS. With Bluetooth already running on billions of smartphones, Nodle just works.
“Roole represents a compelling real-world use case for on-chain smart asset tracking,” says Garrett Kinsman, a Nodle Co-founder. “It represents a shift where non-blockchain or Web2 companies are using decentralized technologies to create new experiences for their customers.”
In the automotive industry, the Nodle Network has many other potential applications. For instance, ridesharing services want to ensure that drivers are using the vehicle declared on their platform and doing their rides instead of sharing it with somebody else. The Nodle Network can be used to prove that the rider is in the right vehicle, driven by the right driver. Cryptographic proof would be issued without the need for personal data to be shared, tying the vehicle to the driver and the rider.
In the future, vehicles could even natively support Nodle, allowing anti-theft security to be built into vehicle hardware. In this forthcoming solution, Nodle-enabled vehicles would be extremely difficult to steal, deterring thieves.
To learn more about Roole you can visit www.roole.fr. To earn cryptocurrency by helping locate Roole vehicles, and other smartphone devices, download nodle.com/cash.
About Nodle
Nodle connects the physical world to Web3 by using smartphones as edge nodes. The edge nodes read devices and sensors in the physical world using Bluetooth Low Energy (BLE) and connect that information to the blockchain. Creating a geolocation-based layer one that can be used by many unique applications built for the hyper-connected, mobile-oriented world we live in, including real-time asset tracking. Nodle creates an economic model that is secure, private, and scalable. Anyone with a smartphone can join the network in return for Nodle Cash tokens ($NODL). Nodle provides insights for consumer electronics manufacturers, enterprises, smart cities, the finance industry and beyond. Since its creation in 2017, Nodle has become one of the world’s largest wireless networks by number of base stations. To join, download the Nodle app for iOS or Android.
Twitter | Telegram | Discord | YouTube | Medium | GitHub | Website
Contacts
- Carolina Mello
- carolina@nodle.com
Indonesia’s trade ministry plans to issue a new rule governing crypto asset exchanges, requiring two-thirds of the board of directors and commissioners to be Indonesian citizens and reside in the country, a deputy minister said Tuesday.
The measure comes following financial issues faced by Southeast Asia-focused cryptocurrency exchange Zipmex, which temporarily prevented users from withdrawing funds.
“We don’t want to give permits (to exchanges) carelessly, so only for those that meet the requirements and are credible,” deputy trade minister Jerry Sambuaga told reporters after a parliamentary hearing.
The ministry’s Commodity Futures Trading Regulatory Agency (Bappebti) will issue the new rule soon, he said, without giving a timeframe.
It will also require an exchange to use a third-party to store client funds and to prohibit exchanges re-investing stored crypto assets, according to a document issued by the ministry.
Bappebti acting head Didid Noordiatmoko told the parliamentary hearing that ensuring two-thirds of the board were Indonesians based in the country “could prevent the top management running away when a problem hits the exchange.”
Asked about a plan to launch an Indonesian crypto asset bourse, which has been delayed from last year, Sambuaga said the plan could hopefully be completed this year.
Cryptocurrency has gained popularity in Southeast Asia’s biggest economy with a total transaction volume of crypto assets up more than 1,000% in 2021 at 859.4 trillion rupiah ($57.37 billion), according to Bappebti’s data.
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Hackers have stolen digital assets worth around $160 million from crypto trading firm Wintermute, its CEO tweeted on Tuesday, the latest heist to hit a sector long plagued by cybercrime.
The theft targeted London-based Wintermute’s decentralised finance operations, Evgeny Gaevoy said in a tweet. The firm, which provides liquidity across major crypto exchanges and trading platforms, remains solvent after the hack, he added.
Decentralised finance platforms and software, which aim to provide crypto-based financial services without traditional gatekeepers such as banks, have been targeted by numerous heists in recent years. The sector is little-regulated and victims of crime rarely have recourse.
Gaevoy and Wintermute did not immediately respond to requests for comment.
Wintermute calls itself “one of the largest players” in global crypto markets. It says it manages “hundreds of millions” in assets and trades more than $5 billion a day.
Gaevoy said on Twitter “there will be a disruption in our services today and potentially for next few days,” adding that some 90 assets were hacked.
“If you are a lender to Wintermute, again, we are solvent, but if you feel safer to recall the loan, we can absolutely do that,” Gaevoy said.
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