🦎🚀 Grabbing to Web3 🚕🚗

Friday, September 8, 2023

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Setting the Stage

In a joint white paper, the International Monetary Fund (IMF) and the Financial Stability Board (FSB) of the G20 have stressed the need for a comprehensive policy and regulatory framework to address the risks associated with crypto-assets, particularly concerning macroeconomic and financial stability.

The paper argues that widespread adoption could potentially disrupt the effectiveness of monetary policy, and legal tender status granted to cryptocurrencies poses a threat to overall financial stability.

In today's news, we have Grab Singapore incorporating web3 services, Vitalik Buterin co-authoring a research paper on incorporating privacy features into blockchain transactions and CFTC taking action on three DeFi entities.

Read on!

Market Share of Crypto Derivatives Exchanges

Binance continued to dominate the crypto derivatives scene in 2023. However, its market share has continued to fall, having started at 53.5% in January, down to 47.4% in August.

Which of its competitors managed to gain from it?

Read more here

24h Hot Searches Worldwide 🔥

Bella Protocol (-0.6%)
Pink BNB (-1.9%)
Bonk (-4.0%)
Bitcoin (+0.5%)
BeNFT Solutions (+53.8%)
ApeCoin (-2.5%)
Poolz Finance (-2.9%)

Web3 is going great…or not. Let's recap the past year and half of the crypto wild west in this video.

Grabbing Web3 in Their Hands

Grab, a ride-hailing super-app popular in Southeast Asia, has incorporated web3 services.

Users can now set up a web3 wallet, win blockchain-based rewards, pay with NFTs and more. In addition, Grab partnered with the Monetary Authority of Singapore to bring NFT vouchers for popular eats and experiences in the city.

The Block

Preserving Privacy

Ethereum co-founder Vitalik Buterin has co-authored a new research paper exploring how a privacy-preserving blockchain protocol could balance the need for user anonymity with regulatory compliance.

This paper, co-authored by Buterin, Ameen Soleimani (an early contributor to Tornado Cash), Jacob Illum from the blockchain security company Chainalysis, and two researchers from the University of Basel, explores the concept of creating a neutral infrastructure for integrating privacy features into blockchain transactions.

Decrypt

On the Offense

The Commodity Futures Trading Commission (CFTC) has taken action against three decentralized finance (DeFi) entities - Opyn, Inc., ZeroEx (0x), Inc., and Deridex, Inc., for allegedly providing illegal derivatives trading services.

These companies, which employed blockchain-based protocols and smart contracts for trading, have been ordered by the U.S. derivatives regulator to cease these violations. As part of a settlement, Opyn, ZeroEx, and Deridex will each pay fines of $250,000, $200,000, and $100,000, respectively.

CoinDesk

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