CRYPTOCURRENCY
Congressional Memo Challenges SEC's SAB 121
Congress members question the enforceability of the Securities and Exchange Commission's Staff Accounting Bulletin 121, arguing it deviates from standard accounting practices, misrepresents custodians' responsibilities, and increases consumer risk.
SlowMist Reports Surge in Diverse Crypto Security Incidents for the Week of September 17-23, 2023
SlowMist, a cybersecurity firm specializing in blockchain, released its weekly security report for the week of September 17-23, 2023. The report highlights a total of seven security incidents with an estimated loss of around $380,600. The week saw a significant rise in phishing attacks and rug pull tactics, as well as the emergence of diverse attack methods like DNS hijacking and contract vulnerabilities.
FTX Customer Claims Portal Update: How It Affects Derivative Positions and USD Balances
The recent updates to the FTX Customer Claims Portal aim to provide more clarity on derivative positions for customers. While these changes may affect the displayed USD balance, they do not impact the overall value of the claims. The valuation of derivative positions is based on FTX exchange pricing as of specific dates and times, with the final USD valuation to be determined later.
Balancer's $2.1M Breach Impacts Pools Across Ethereum, Fantom, and Optimism
PeckShield Inc. has reported a $2.1 million loss on the Balancer platform, affecting multiple pools across Ethereum, Fantom Foundation, and Optimism Foundation. The loss, including Beethoven X, is believed to be miscalculated.
US authorities consider expanding credit line for banks
US authorities are considering expanding an emergency credit line for banks to provide First Republic Bank with a time buffer to address balance sheet concerns, according to Bloomberg sources. The bank is deemed stable enough to operate without immediate intervention.
Valkyrie to Liquidate Bitcoin Balance Sheet ETF following Low Customer Demand
The Valkyrie Balance Sheet Opportunities Fund is expected to liquidate on October 31, 2022.
PayStand Adds Cryptocurrency to Its Balance Sheet
PayStand cloud-based payment firm holds a substantial stake in cryptocurrency as part of its treasury reserve.
Time Magazine to Add Ether to Its Balance Sheet as Part of Efforts to Support Metaverse Newsletter with Galaxy Digital
Under a partnership with Galaxy Digital, Time Magazine will hold Ether as part of its corporate balance sheet and produce metaverse-related content.
South Korea’s Teachers’ Pension Fund Announces Plans to Invest in Bitcoin on Its Balance Sheet
The Korea Teacher's Credit Union (KTCU) in South Korea is following a list of rising pension schemes across the world to invest in Bitcoin.
Horizon Kinetics Bets on Bitcoin as Inflation Bites
Horizon Kinetics, a US-based investment firm, is the latest to bet on Bitcoin as an inflation hedge, saying that the company is playing their bets on two hedges against inflation: property and cryptocurrencies, especially Bitcoin.