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Get your daily, bite-sized roundup of crypto asset and blockchain-related news, digging into the stories flying under the radar in today’s crypto news.

legal news

  • Xiao Yi, a former senior provincial official in China’s Jiangxi province who was sacked in 2021 for abusing his power to support crypto mining, apologized for being a “sinner” and causing “grave losses” to his city, in a state television news report. on Sunday, the South China Morning Post reported. “I am a sinner to the people of Fuzhou and I have failed them. […] For my distorted view of political achievements […] I acted recklessly, causing such serious losses,” he said. Xiao was the highest ranking Chinese official to be punished for supporting crypto mining.
  • US federal prosecutors are investigating whether the former FTX The engineering director, Nishad Singh, was involved in defrauding the company’s clients with business schemes involving a sister company. Alameda Investigation, according to Bloomberg. Additional agencies, including the US National Stock Market Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are also investigating Singh, he said, citing sources familiar with the matter.
  • He SECOND is investigating Avraham Eisenberg’s role in extracting $110 million from the Mango markets protocol. “[I] We acknowledge the work of our colleagues at the Securities and Exchange Commission and the United States Attorney’s Office for the Southern District of New York, who are pursuing parallel actions against this very Defendant,” said Commissioner Kristin Johnson. CFTC.
  • fir partnersshareholder of the Grayscale Bitcoin Confidenceissued a comment on GBTC and Grayscale Inversions‘ formal response to Fir Tree’s lawsuit filed in a US court last month seeking information from Grayscale about possible mismanagement and conflicts of interest at GBTC. “Grayscale’s response continues to obfuscate the facts and refuses to provide clear information to GBTC shareholders. […] From our point of view, the situation is really extremely simple: Grayscale management keeps redemptions closed to maximize their income, and they don’t care that it’s at the expense of investors,” they said.

Stablecoin News

  • He Central Bank of Nigeria (CBN) is considering the development of a regulatory framework for the possible implementation of a stablecoin, according to a report titled ‘Nigeria Payments System Vision 2025’. They argued that “Stable Coin implementations are likely to be a successful payment mechanism. There is a need to develop a regulatory framework for such implementation which will almost certainly be used in Nigeria.”

investment news

  • public technology company ether capital corporation announced that it is not materially affected by the financial problems it faces Wyre, a US-based crypto infrastructure provider, as “Wyre is a secondary investment.” Ether Capital invested $1.5 million in Wyre in 2018, and as of September 30, 2022, the fair market value of the investment represented 2.2% of Ether Capital’s total assets, according to the press release. “Ether Capital anticipates that its initial investment in Wyre may result in a full writedown, but will make a final determination once more information is available,” it added.
  • Togga global provider of mobility technologies and ecosystems, selected METHACUS, a provider of digital asset custody orchestration technology for financial institutions, to support and secure the custody and governance of digital assets, the press release says. He Togg Blockchain Platformbuilt on the avalanche C-Chain is being developed as a Mobility-as-a-Service (MaaS) platform with the goal of allowing users in Turkey and Europe to benefit from a variety of use cases supported by smart contracts.
  • The Hashgraph Associationthe Swiss-based non-profit association supporting the adoption of the Hedera network, announced a $750,000 grant to Analysis of decimal points (DPA), a leading Indian financial market data analysis and research company. DPA will use the funds to develop an asset tokenization platform on Hedera’s distributed ledger technology (DLT) network, he said.

payment news

  • Global fintech company bitcoinblackwho created the credit card of the same name, launches his application to iOS Y Androidsaid an ad. The app will allow users to immediately convert cryptocurrency to dollars to use on their credit cards, while members will also be able to transfer unlimited funds to other members.

web3 news

  • finance.console, an EU-based finance and accounting SaaS platform, announced the launch of its comprehensive finance and accounting platform designed specifically for Web3 businesses. “Following the successful pre-seed round in September 2022, closing $1.18 million in funding, the B2B SaaS platform offers an innovative solution for bookkeeping, bookkeeping and reporting for all blockchain transactional activity,” a statement from the company said. press. He added that worked closely with organizations including dao tower, decent dao, MoonDAO, YGG SEA, DAO coil, DAO solid world, bitpanda, FileWire, katana inuand others to build your platform.