Headlines
▌Bitcoin market value surpasses Meta
Due to the decline in Meta's stock price, according to 8marketcap data, the current market value of Bitcoin has surpassed Meta. At the time of writing this article, the market value of Bitcoin was about 320.18 billion US dollars, up 0.52% in the past 24 hours; while the market value of Meta Platforms (Facebook) was about 319.67 billion US dollars, up 4.01% in the past 24 hours.
Policy
▌India will explore banning unsecured cryptocurrencies during its G20 presidency
India said on Thursday that during its current G20 presidency, he will prioritize the development of a global regulatory framework for unsecured encrypted assets, stablecoins and decentralized finance, and will explore "the possibility of banning them." It was previously reported that the Reserve Bank of India released the Financial Stability Report stating that cryptocurrencies have failed to become a hedge against inflation.
▌The Central Bank of Turkey conducts the first CBDC test
The Central Bank of Turkey (CBRT) conducted the first test of its Turkish digital lira. As part of an initial testing phase, CBRT successfully conducted the first payment transaction on its central bank digital currency (CBDC) network. Turkey's digital lira will enter an advanced stage by 2023, with the central bank conducting pilot tests with broad participation including banks and fintech firms, the CBRT said. “The study of the legal aspects of the digital TRY showed that digital verification is essential to the project. Therefore, throughout 2023, research on the technical requirements and the economic and legal framework of the digital TRY will be prioritized,” the bank said.
Cryptocurrency
▌3Commas CEO Finally Takes API Key Leak Responsibility
In a recent development, CEO Yuriy Sorokin took to Twitter to acknowledge for the first time that there was a data leak in his company. Sorokin explained that they had verified that the information in the files was accurate after seeing the hacker’s message. Moreover, the executive confirmed that 3Commas has now demanded the immediate revocation of all the keys from Binance, Kucoin, and all supported exchanges. The platform chief also agreed that an inside job is always possible but found no evidence of this in the investigation. Now, he claimed that the platform launched a full investigation involving law enforcement. Meanwhile, 3Commas’ Twitter account claims that no key made after Nov. 16 is at risk. The platform also stated, “We urge every user to reissue their keys on the exchanges. Again, we commit to saying that no keys after Nov. 16 are at risk. In case you do not update those, they will be revoked by exchanges to ensure your account security.”
▌CZ: I don’t think India is a very favorable environment for cryptocurrencies
Binance founder and CEO Changpeng Zhao (CZ) said in a recent interview that the company does not think India is a "very favorable environment for cryptocurrencies." He said the company was trying to convey its concerns about local taxes to local governments, but asserted that tax policies often take a long time to change. In addition, CZ also said, “Binance is going to countries where the regulations support cryptocurrency and support commerce. We will not go to countries where we will not have a sustainable business.”
▌The Ethereum Foundation issued a document summarizing the research and development of each team in 2022
The Ethereum Foundation issued a document summarizing the research and development of each team in 2022, which mentioned that the consensus R&D team will switch the consensus mechanism of the Ethereum mainnet to Proof of Stake (PoS) this year, and has been solving urgent problems in the MEV field. Issues, next year will be dedicated to withdrawal functionality, continued refinement of the EIP-4844 consensus layer specification, and other post-merger research topics. The cryptography team contributed to post-quantum signature schemes standardized by NIST (National Institute of Standards and Technology), and in the future, scalability may be improved through better aggregation techniques or different hardness assumptions. Also contains updates from Fe-lang, Formal Verification, Geth, Javascript team, Ipsilon, Portal, Privacy and Extension Exploration, Protocol Support and more.
▌Michael Saylor: MicroStrategy will release software applications and solutions powered by the Bitcoin Lightning Network next year
MicroStrategy founder Michael Saylor talked about the company’s plans in Twitter Spaces on Wednesday. MicroStrategy will release software applications and solutions powered by the Bitcoin Lightning Network in 2023. The areas of Lightning Network services currently being explored include online content monetization, corporate marketing, network paywalls, and internal corporate controls.
Jixu
