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Sam Bankman-Fried deepfake aims to scam FTX collapse victims

A deepfake of former FTX CEO Sam Bankman-Fried aims to scam victims of the exchange’s collapse.

FTX was the third-largest cryptocurrency exchange and Bankman-Fried was seen as the face of crypto in Washington. The exchange enjoyed many celebrity endorsements and secured a 19-year,...

Heroic Story raises £5m to create web3 roleplaying game

Blockchain Gaming

Web3 gaming company Heroic Story has raised £5 million in a seed round led by Upfront Ventures for a blockchain-based tabletop roleplaying game (RPG).

The funding will be used to launch a live beta of the game, develop blockchain technology for a multiplayer version of the game, and...

Nike deepens its web3 presence with .SWOOSH platform

Nike is going deeper down the web3 rabbit hole with the unveiling of its own platform.

The iconic brand is launching .SWOOSH (pronounced “dot swoosh”), a platform where fans can buy – and even co-create – virtual items.

“Web3 digital technology has opened the door...

UK Parliament launches inquiry into risks of NFTs

UK Parliament

A British Parliament committee is planning an inquiry into the benefits and risks of non-fungible tokens (NFTs) and wider blockchain technology as a whole.

The Digital, Culture, Media and Sport (DCMS) Committee will assess whether NFT investment poses a risk to vulnerable...

Coinbase cuts 60 more jobs as web3 layoffs continue

Layoffs

Major crypto exchange Coinbase is cutting 60 jobs as layoffs continue to plague the bearish cryptocurrency market.

The employees from Coinbase’s recruitment and onboarding teams will lose their jobs as the crypto industry continues to suffer from the dramatic downfall of a major...

Singapore central bank approves Circle and Paxos stablecoins

Singapore

The Singapore central bank (Monetary Authority of Singapore) has approved licences for two stablecoin issuers, Circle and Paxos, to operate in the city-state.

US-based Circle, the issuer behind USD Coin (USDC), was granted approval for a major payments institution licence, meaning it...

CashApp integrates Bitcoin Lightning Network support

Cash App

CashApp has added support for transaction payments through the Bitcoin Lightning Network.

Developed by Block Inc, CashApp is a mobile payment processing app similar to PayPal.

The new feature allows CashApp users to send and receive Bitcoin through its quicker, more...

Half of all DeFi exploits come from cross-chain bridge attacks

Crypto Hacker

A half of all DeFi exploits occur on cross-chain bridges and a staggering £2.2 billion has been stolen from them by hackers in the past two years.

The latest figures come from a new report by crypto data aggregator Token Terminal and stand out as enormous in comparison to other DeFi...

China’s digital yuan breaks £12.4bn in transaction volume

Shanghai, China

China’s CBDC project - the digital yuan - has seen more than 360 million transactions completed with a total value of 100 billion yuan (£12.4bn).

Although still in its pilot phase, such stats make the digital yuan, or e-CNY, the most widely adopted CBDC in the world.

The...

Reserve Bank of India goes in-depth on its CBDC plans

India

The Reserve Bank of India (RBI) has released a 51-page report outlining the proposed features of its in-development central bank digital currency (CBDC).

The report details the pros and cons of a digital rupee for India whilst also trying to raise awareness for the reasoning and...

New BlackRock ETF invests in 35 blockchain companies

Bitcoin IRA

BlackRock, the world’s largest asset manager, has launched a new exchange-traded fund (ETF) providing European customers with access to investment in the blockchain space.

The new ETF, called the iShares Blockchain Technology UCITS ETF, launched on 27 September and invests in 35...

BIS declares cross-national Asian CBDC pilot successful

Transaction

The Bank for International Settlements (BIS) has declared a multinational central bank digital currency (CBDC) pilot a success.

More than £20.5 million was transacted during the month-long testing phase between commercial and central banks in Hong Kong, Thailand, China, and the...

Zack Gall, EOS Network Foundation: On forking to a new protocol

EOS Network

Zack Gall, VP of communications at EOS Network Foundation, spoke with The Block ahead of EOS's upcoming talks at Blockchain Expo Europe on 20-21 September.

The Block: What is the EOS Network Foundation’s current core focus?Zack Gall: We serve as the hub and shepherd of the EOS...

Canada’s Conservative Party elects pro-crypto Pierre Poilievre

Canada Symbolism

Pierre Poilievre, a staunch crypto advocate and Ontario Member of Parliament, has won the Conservative Party of Canada’s (CPC) leadership race by a major margin.

The Alberta-born lawmaker, who said he “wants to make Canada the blockchain capital of the world”, garnered 68% of...

Nigeria plans to create a crypto-friendly free zone with Binance

Nigeria

The Nigerian government is in discussions with crypto exchange Binance regarding a potential crypto-friendly economic zone similar to Dubai’s virtual free zone.

On 2 September, the Nigeria Export Processing Zones Authority (NEPZA), announced that it had held preliminary meetings...

OpenSea will not support forked NFTs after ETH Merge

Sailing

With the Ethereum Merge scheduled for 15 September, NFT marketplace OpenSea has said it plans to focus its support on NFTs that are on the upgraded proof-of-stake (PoS) blockchain.

The company took to Twitter to confirm that whilst the OpenSea team is not speculating on potential...

‘Most of crypto is going to go away’ says JPMorgan blockchain lead

Trash

JPMorgan head of blockchain and digital assets, Umar Farooq, has stated that the majority of crypto assets on the market today are “junk” and that it will take time for real crypto use cases to emerge.

During a panel at the Monetary Authority of Singapore’s Green Shoots Seminar...

CasperLabs: On delivering ‘the vision for Ethereum 3.0’ today

CasperLabs believes its blockchain has solved Vitalik Buterin’s infamous trilemma and is already delivering “the vision for Ethereum 3.0”.

The Block caught up with Casper Labs’ CTO and Co-Founder Medha Parlikar, and Senior Business Development Manager Niamh O’Connell, to...

Binance exec deepfake fools ‘highly intelligent’ people

A deepfake of Binance Chief Communications Officer Patrick Hillmann is reportedly fooling “highly intelligent” people.

The attackers are using what Hillman describes as an “AI hologram” of himself to fool representatives of various projects that the CCO is helping them get...

Chris Dixon, a16z, says crypto can shift power away from Big Tech

Web3 network

After raising a record-breaking $4.5 billion (£3.8bn) for its latest crypto fund earlier this year, Andreessen Horowitz (a16z) has said it sees the ongoing market downturn as an investment opportunity.

Chris Dixon, the founder of a16z’s crypto arm, believes cryptocurrency has the...