Crypto drama in the UK

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🏦 FCA pressured to allow crypto firms entry

The UK's financial regulator, the Financial Conduct Authority, allegedly experienced political pressure to admit cryptocurrency firms into the market.

Charles Randell, former chair of the FCA, expressed concerns over political influence on independent regulators during a conference. Randell noted that some of these firms are now under investigation by the US Department of Justice. As of now, 43 crypto firms are registered with the FCA, with new regulations for the UK crypto industry anticipated in the next year. UK's current prime minister, Rishi Sunak, has shown significant interest in promoting the country as a hub for cryptocurrency and blockchain technologies.

 🐕 Shiba Inu's Shibarium bark is as big as its bite

Shiba Inu stands out in the ever-changing cryptocurrency landscape, resisting market fluctuations and achieving significant milestones.

One such achievement is the introduction of Shibarium, a novel blockchain, which has enhanced functionality and scalability for its users. Shibarium is close to reaching three million total transactions, indicating its growing popularity. Shiba Inu's resilience is reflected in its growing number of addresses, reaching 3.59 million. The Shiba Inu community has seen an adoption rate increase, reflecting its broad appeal and innovative offerings.

🚫 Balancer suffers attack: over $238K lost

Balancer, an Ethereum-based decentralized exchange, experienced a domain name system (DNS) attack.

Hackers exploited this vulnerability to redirect users from the official Balancer website to a malicious phishing site with the intent of stealing user funds. Balancer promptly warned its users about the threat and is now working towards a full recovery of its user interface. While there's no official statement on the total assets compromised, security firm PeckShield approximates a loss of about $238,000 in cryptocurrency. This follows an earlier incident in August where Balancer lost nearly $1 million due to a platform flaw.

💌 Grayscale sends a new letter to big SEC office

Grayscale Investments has submitted a new application for an Ethereum futures exchange-traded fund (ETF) to the SEC.

Unlike its earlier application which was filed under the Investment Company Act of 1940, this one follows the Securities Act of 1933, typically used for commodities and spotting Bitcoin ETFs. Bitcoin futures ETFs have been approved under both acts in the past. While the exact reason for Grayscale's dual-track approach remains unclear, it might be to increase the chances of approval. As of now, six firms, including Grayscale, have submitted applications for Ethereum futures-based ETFs, with potential approvals speculated to come in October.

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