Coinbase CEO Open Letter on Crypto Regulation
Last week, Brian Armstrong penned practical ways to regulate the industry, focusing on stablecoins, centralised exchanges and modifying the Howey Test for judging crypto securities.
Legislative priorities:
— Ryan Selkis 🥷 (@twobitidiot) December 23, 2022
1. Regulate stablecoins. Codify issuer rules into law.
2. Regulate centralized exchanges. Common sense!
3. Modify the Howey Test for tokens.
I've been banging the drum on this, and Brian lays it out cogently here: pic.twitter.com/bNdqyQzSHu
Sam Bankman Fried (SBF) Pleads Not Guilty in Federal Court
The former FTX CEO has pled not guilty to all criminal charges he’s facing related to the collapse of the crypto exchange, including wire fraud, securities fraud and violations of campaign finance laws,which could result in 115 years in prison should he be convicted.
Solana’s Top NFT Projects Move to Polygon
One of Solana's most significant NFT projects, DeGods, will migrate to Ethereum, while its sister project, Y00ts, will move to Polygon via a grant. It's another major blow for Solana, who've seen total value locked nosedive and confidence dwindle due to its connections with FTX.
y00ts will officially bridge to @0xPolygon in Q1 2023. pic.twitter.com/Mnz25dJko1
— y00ts (@y00tsNFT) December 25, 2022
Mango Market's Exploiter Arrested on Market Manipulation
The crypto trader behind the $110M October exploit of decentralised exchange Mango Markets was arrested in Puerto Rico. The FBI pinned Avraham 'Avi' Eisenberg with commodities fraud and manipulation.
It could become a landmark case in regulating DeFi markets and actions conducted on open blockchains.
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