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Fed's rushing with FedNow but Cashing Out with Bitcoin
FTX's Unsettled Waters and the Surprising Surge of Hamster Race Betting
Welcome to Daily Digest, where we surface trending news in crypto-based on conversations we found on Twitter, news publications, blog posts, and other social media, powered by the Coinfeeds platform.
Here are the trending news items over the last 24 hours. If you’d like to see it’s realtime updated version, head over to our website here
Federal Reserve Officially Launches Instant Payments System FedNow
The Federal Reserve has officially launched its instant payments system called FedNow. This system will allow for faster and more efficient transactions, providing a real-time payment option for individuals and businesses. The system is expected to be fully operational by 2023.
US Government Sells Another 8,200 Bitcoin, On-Chain Data Confirms
The US government has sold another 8,200 Bitcoin (BTC) connected to the Silk Road darknet marketplace, according to on-chain data. This confirms previous rumors and indicates that the government has been gradually getting rid of its BTC holdings related to Silk Road.
FTX Users Potentially Targeted in Possible Phishing Attack as Bankruptcy Claims Deadline Nears
Several users of bankrupt crypto exchange FTX have received a "reset password" request from the exchange's official customer support email, potentially indicating a phishing attack. The email contains a password reset link that leads to the FTX claims portal, where users can submit bankruptcy claims for their assets.
FTX Leadership Seeks Return of Over $1B in Cash, Stocks From Former Executives
The estate for bankrupt crypto exchange FTX is suing founder Sam Bankman-Fried and other executives, seeking the return of over $1 billion in cash and shares that were allegedly fraudulently transferred.
Move Over Shiba Inu: Crypto Community Flirts With Hamster Race Betting
Crypto traders have found a new way to generate returns by betting on real hamster races through the blockchain-based platform Hamsters.gg. The platform allows users to bet on hamsters running on a track, with popular racers like "Rocky" and "Buster" drawing bets of up to $500 per race.
Wormhole Launches New Bridge Connecting to any Cosmos Appchain
The Wormhole Foundation has launched a new bridge that connects liquidity and users from over 20 different blockchains to any Cosmos appchain. This bridge aims to make it easier for developers and users to on-ramp tokens to any Cosmos chain, with the goal of driving liquidity and growing the Cosmos ecosystem.
Bankman-Fried using company funds for criminal defense, FTX says
According to a new lawsuit filed in bankruptcy court, FTX's caretaker leadership alleges that Sam Bankman-Fried, the failed crypto mogul, is using company funds for his criminal defense.
Coinbase to Wind Down Lending Program Over Coming Months
Coinbase is winding down its lending program, Coinbase Borrow, over the next few months. The program allowed customers to receive fiat loans against their bitcoin holdings. The decision to shut down the program is part of Coinbase's focus on products that customers care about the most.
U.S. House Republicans Introduce Crypto Oversight Bill to Protect Investors
U.S. House Republicans have introduced a new bill called the Financial Innovation and Technology for the 21st Century Act, which aims to establish a regulatory framework to protect investors in the crypto sector.
Syndica launches Sig - a new Solana validator client written in Zig, focusing on RPS-optimization, client diversity, and accessibility. Tweet
A16Z research answers all your questions regarding governance in their new blog posts. Tweet
Coinbase took out a full page ad in WaPo to talk about their efforts around safety and compliance in crypto. Tweet
As always, stay tuned for more updates in crypto!