Is USA being pushed back in the crypto race?

READING TIME: 4 mins 23 secs

Diving deep into today's web3 currents:

๐ŸŽƒ To Be Launched: New Halloween NFT Trading Cards

๐Ÿšซ SHIB Army Alerted to Rising Scam Threats

๐Ÿ’” Big Oopsie Moment for Lightning Network

๐Ÿ“Š JPEX Scandal Forced Hong Kong to Tighten Crypto Regulations

Funko is set to release a new set of NFT trading cards on October 31st.

This comes after the three-day Funkoween 2022 event held in May that showcased Halloween-themed figurines. Previously, the renowned collectibles manufacturer launched a Warner Bros. horror-themed NFT collection featuring iconic horror characters. The recent announcement for the Funkoween 2023 edition revealed the company's first Funkoween NFT collection, although specific images remain undisclosed.

The Shiba Inu community has been warned by ShibArmy Scam Alerts about an increase in scams involving fake websites, deceptive NFT airdrops, and counterfeit Telegram groups.

SHIB holders are urged to be cautious, conduct thorough research, and avoid unknown sites. In separate news, Binance, the leading cryptocurrency exchange, has opted to delist several liquidity pools, including tokens such as Shiba Inu, Cardano, and Chainlink. This move is aimed at enhancing liquidity and user trading experiences. Despite these changes, SHIB's price saw an increase.

Bitcoinโ€™s security researcher and developer has resigned from the Lightning Networkโ€™s development team due to concerns about security issues.

Antoine Riard highlighted a "hard dilemma" faced by the Bitcoin community due to replacement cycling attacks, which can target the Lightning Network's payment channels. This second-layer solution, built over Bitcoin, is designed to enhance scalability and efficiency by enabling off-chain transactions. Riard suggests that addressing the new attack type might necessitate alterations to the core Bitcoin network. He will now concentrate on Bitcoin core development.

In response to a significant scandal involving JPEX, Hong Kong's central bank and securities regulator have reinforced crypto regulations.

The updated guidelines now limit specific virtual currency offerings to professional investors, deeming them too complex for retail investors. Intermediaries must ensure clients understand the risks of investing in virtual assets and have the financial stability to handle potential losses. Some VA-related products remain available to retail investors as they are regulated and seen as safer. Intermediaries serving non-qualified investors must adapt to the new standards, with a transition period of three months.

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