Sun - 1 oct

1 Oct, 2023 | 10:15 AM

Headlines for today

  • India To Build Dark Net Monitoring Tool To Fight Crypto Fraud

  • Gemini Invests $24 Million In India

  • ‘Dencun’ Upgrade By Ethereum Likely Delayed Into 2024

  • Celsius Seeks Final Approval For $45 Million Core Scientific Bitcoin Mining Site

  • Microsoft’s Plans To Bring Crypto Wallets To Xbox, Leaked

India To Build Dark Net Monitoring Tool To Fight Crypto Fraud: The Ministry of Home Affairs (MHA) is gearing up to tackle the surge in cryptocurrency-related illicit activities by introducing the Cryptocurrency Intelligence and Analysis Tool (CIAT). Spearheaded by the Indian Cyber Crime Coordination Centre, CIAT will monitor dark net crypto wallet addresses, tracking transaction details such as timestamps and involved exchanges. Its alert system will notify MHA about suspicious cryptocurrency activities. This initiative follows recent crypto scams in India, including a software engineer duped out of $120,000 after an online acquaintance tricked him into investing. Another incident in July saw the arrest of two individuals in a P2P crypto scam targeting Binance users. 🔍🪙🇮🇳.

Gemini Invests $24 Million In India: Gemini crypto exchange is set to invest $24 million for its expansion in India over the next two years, building on its technology development center in Gurgaon. The center, located in Cyber Hub, has already employed over 70 specialists, with plans to double this number soon. Pravijit Tiwana, CEO of Gemini Asia Pacific, praised India's supportive startup ecosystem and emphasized Gemini's mission to harness crypto and Web3 innovation. India's proactive approach to blockchain is evident, with various government sectors adopting the technology. India continues to push for a global crypto regulatory framework, signaling potential positive shifts for crypto regulations in the country.🚀🇮🇳🔗.

‘Dencun’ Upgrade By Ethereum Likely Delayed Into 2024: Ethereum's anticipated upgrade, Dencun, may face delays into the new year. While Dencun is nearing completion, it requires further testing. During a developers' meeting, Ethereum Foundation's Tim Beiko highlighted the need for Dencun's testnet deployment before its mainnet launch, hinting at potential delays. This comes after the Holesky testnet faced challenges. However, its relaunch is slated for Sept. 28, readying it for Dencun testing. There's also a suggestion to test Dencun on the soon-to-be-retired Goerli testnet. Once live, Dencun will notably enhance Ethereum's scalability.🚀🔧📆.

Celsius Seeks Final Approval For $45 Million Core Scientific Bitcoin Mining Site: Celsius has proposed a settlement in bankruptcy court with Core Scientific Operating Company, following litigation between the two over contract disputes. Celsius aims to acquire a Bitcoin mining site, Cedarvale, from Core for $45 million. This payment would comprise $14 million in cash, with the remaining $31 million offsetting claims from the litigation. Christopher Ferraro, Celsius’ interim CEO and CFO, believes this settlement is in the company's and its stakeholders' best interest, as it would circumvent further costly legal battles and potential delays in the bankruptcy reorganization plan. However, this agreement does not settle claims against Core concerning convertible notes. The court's approval is required for the settlement to be finalized.📑💼🔗.

Microsoft’s Plans To Bring Crypto Wallets To Xbox, Leaked: Leaked documents suggest Microsoft is considering integrating cryptocurrency wallets into its Xbox gaming console. The leaked Xbox roadmap from May 2022 was unintentionally included in Microsoft's submissions due to the FTC's legal action against their $69 million Activision Blizzard acquisition. These documents also hinted at a disc-less Xbox Series X, a gyro controller, and a next-gen hybrid Xbox for 2028. Phil Spencer, Xbox's head, acknowledged the leak but mentioned plans might have changed. The crypto community, including Tyler Winklevoss of Gemini, expressed excitement over the potential integration, emphasizing the massive scale of the gaming sector. Although Microsoft hasn't confirmed the integration, their recent collaboration with Aptos Labs to enhance the web3 ecosystem shows their growing interest in crypto.🎮💰🔗.