A recap of notable news from the week.
Recapping the Week in DeFi
Cryptocurrency never sleeps, and neither does crypto news and content. Because of this constant stream of information, it’s difficult for investors to keep track of the most notable news. In this weekly recap, BSC News shares some of the most exciting stories and breaking news events of the week to help you stay up-to-date on all things DeFi.
New Alliance Launched to Promote Privacy as a Right on Web3
In an increasingly-surveilled world, privacy is threatened. While Web3 offers unique privacy solutions, those solutions are also threatened by governmental actions. The newly-created Universal Privacy Alliance, formed by companies like Nym, Orchid, and Oasis Network, seeks to defend privacy on Web3.
The alliance was launched on October 11 during the Devcon conference – a conference that featured whistleblower Edward Snowden as a speaker. The alliance has set up a legal defense fund to be used by full stack privacy tool developers.
Read the full list of founding members and what their mission is here.
The Year of the Hack: 2022 Crypto Exploits on Pace to Crush Record 2021
A common topic crypto detractors lean on when denigrating the industry is its lack of safety. A lack of concrete regulatory oversight has led to a ‘Wild West’ environment where users need to practice vigilance to stay safe. This scrutiny has only intensified as 2022 is on pace to blow past the record-setting 2021 in terms of exploits.
Just in the month of October (which is still over a week from finishing),the there have been 11 recorded attacks taking $718M, with 125 attacks claiming over $3B on the year. The increasingly large size of the attacks is no doubt a concern for many users, and crypto projects have responded by intensifying security efforts.
Read about the data behind these record-breaking attacks here.
ApeSwap Wins Group A in Battle of the Dapps
Battle of the Dapps is a premier BSC News event that sees 9 projects hailing from different backgrounds competing to become King of the Dapps. Each event sees new projects squaring off in sets of 3, or Groups. The winner of each Group advances to the Grand Finale.
For the latest iteration of Battle of the Dapps, ApeSwap, BSC Station, and Coin Racer went head to head in Group A. While the community vote was narrowly taken by Coin Racer, the event judges both elected to vote for ApeSwap. The strength of ApeSwap’s platform, combined with its dedication to serving its community and listening to demand, was enough to propel the DEX into the Grand Finale.
Check out a full recap of the first round here.
BNB Chain Co-Hosts P12 Arcana with Project 12 and Quest3
P12 Arcana, a month-long Web3 gaming event held concurrently with the world-famous Dota2 tournament – The International will be co-hosted by BNB Chain this year alongside Project Twelve and Quest3. The event has a $100,000 split between multiple pots as its prize draw.
While its buzz has subsided from bull run peaks, blockchain gaming is a very-much-alive and innovative sector despite its skeptics. Blockchain gaming projects have turned to a new approach to alleviate concerns, targeting their offerings to gamers, not investors. With BNB Chain on board as a collaborator, P12 Arcana could bring an influx of new users into Web3 gaming – users there for the games first and foremost.
Read more about the event and its hosts here.
Binance Obtains Crypto Asset Service Registration in Cyprus
Crypto regulations have long been in the making and remain far from concrete. Globally speaking, exchanges have tricky paths to maintaining compliance – every country has its own set of regulations that often differ minutely yet significantly from one another – and the goalposts are constantly moving. This has made it an exhaustive endeavor for exchanges to enter new locales, requiring extensive research and discussion before opening operations.
While many exchanges have halted expansion due to this barrier, Binance has long been a front-runner in establishing legal operations across the globe. This dedication to regulatory compliance has continued into Cyprus, where the exchange was recently granted a Class 3 registration to act as Crypto Asset Services Provider.
Read more about what the status means for the exchange here.
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.
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