Shiba Inu Seeks Approval For .shib Domain!

The application is a big step towards bridging the gap between Web2 and Web3

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Here's what we've got for you today:

🖥️ Shiba Inu Seeks Approval for ‘.shib’ Domain to Bridge Web2 and Web3

🥷 Over $8.4 Million Stolen in Crypto Exploits Within a Single Week

🎤 Coinbase CEO Speaks Against US Senators’ Anti-Crypto Stance

🤝 FTX Debtors and Liquidators Reach ‘Novel and Mutually-Beneficial’ Settlement

If approved, SHIB token holders could create user-friendly email addresses with a ".shib" suffix.

The application for the ".shib" domain is a big step towards bridging the gap between Web2 and Web3. If approved, SHIB token holders would have the unique ability to create email addresses with a ".shib" suffix. What sets this apart is that these addresses would be fully compatible with conventional email applications, making it very user-friendly. Beyond email, D3's vision extends to the introduction of "name tokens" for SHIB users. These tokens aim to simplify the process of sending digital assets across different blockchains by eliminating the need for long and complicated wallet addresses.

Between Dec. 10 and Dec. 16, cryptocurrency and NFT projects suffered estimated losses totaling $8,428,033, according to the web3 security company SlowMist.

Over the past week, SlowMist's weekly incident report highlighted a major security breach involving Flooring Protocol. The incident involved the theft of 36 Pudgy Penguins and 14 Bored Apes NFTs, collectively valued between $1.60 million and $1.68 million. Regrettably, this wasn't an isolated NFT exploit for the week. NFT Trader, a trading infrastructure and solutions provider, disclosed a hack just a day before the Flooring Protocol incident.

The Senators attempted to influence the American Bankers Association to support them in crafting the anti-crypto bill.

Coinbase CEO Brian Armstrong has openly criticized United States Senators Roger Marshall and Elizabeth Warren for their anti-crypto stance and their involvement in a controversial anti-crypto bill. Armstrong emphasized the increasing adoption and potential benefits of digital assets, asserting that being against cryptocurrencies is not a very good political strategy, especially as the 2024 elections approach. The bill introduced by Senators Warren and Marshall aims to address the perceived risks of cryptocurrencies by requiring them to obey the same money-laundering regulations as traditional banks, brokers, and financial institutions.

The suggested agreement still needs the thumbs-up from the U.S. Bankruptcy Court in Delaware and the Bahamas Supreme Court.

FTX debtors revealed plans to combine assets with FTX Digital Markets in an attempt to distribute funds to users of the now-defunct cryptocurrency exchange. This settlement is seen as a mutually beneficial solution, addressing complex cross-border legal issues arising from FTX's collapse in November of 2022. All FTX users without pending claims in court will receive compensation in U.S. dollars for their losses in either cash or digital assets, excluding non-fungible tokens (NFTs). Eligible users with claims will have the opportunity to vote on the reimbursement plan in the second quarter of 2024.


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