SEC Delays Invesco Galaxy's Ethereum ETF Approval, Ex-Credit Suisse Exec Launches Crypto Platform for Banks, and Gemini's Proposed Reorganisation Plan Sparks Outrage

Solana Labs Introduces SPL Token Extensions

Solana Labs has introduced token extensions for the SPL token standard on the Solana network, resembling Ethereum's ERC-20 token standard. These extensions enhance the original functionality, offering features such as augmented token interactions, transfer fees for swapped tokens, and confidential transfers powered by zero-knowledge proof. Designed to facilitate businesses transitioning on-chain, token extensions aim to provide streamlined security, compliance, and other services on the Solana network. Solana's co-founder and CEO, Anatoly Yakovenko, highlighted the platform's commitment to an integrated developer and user experience, noting notable deployments by prominent names in the crypto space. Solana Labs continues to innovate within the blockchain ecosystem.

US Committee Probes Meta's Crypto Involvement

The United States House Financial Services Committee is intensifying its scrutiny of Meta's involvement in blockchain and cryptocurrency, prompted by active trademark applications related to these domains since 2022. In a letter dated January 22, Maxine Waters, the committee's ranking member, addressed Meta's founder Mark Zuckerberg and COO Javier Olivan, questioning the discrepancy between the company's trademark filings and their denial of ongoing digital asset work in October 2023. Meta's previous plans for the Diem cryptocurrency and the Novi digital wallet have faced setbacks. Waters seeks clarity on Meta's response to Notices of Allowance for trademark filings, its projects related to Web3, cryptocurrency, and digital wallets, as well as its stance on stablecoins and distributed ledger technology within its metaverse. Meta has not yet responded to these inquiries.

North Korea's Crypto Attacks Soar

North Korea's cyber attacks on crypto platforms surged in 2023, hitting a record high of 20 incidents, as reported by Chainalysis. Despite an overall downturn in the crypto market, the country targeted more platforms than ever, though the total stolen amount decreased to just over $1 billion. Notably, North Korean hackers shifted focus to decentralized finance (DeFi) platforms, pilfering approximately $428.8 million, with reduced targeting of DeFi protocols. The decline in DeFi hacks contributed to a 54.3% drop in the total stolen funds in 2023. Chainalysis identified vulnerabilities in smart contracts and compromised private keys as prominent attack vectors in the DeFi space.

"The Valley of Prosperity", Children's Book on Bitcoin

"The Valley of Prosperity" by Arkadiusz Blazyca is a captivating children's book aiming to demystify Bitcoin and its role in the evolution of money. With a friendly dragon theme and vivid illustrations by Ewelina Oleksiak, the book spans 57 pages, delving into the origins of money, the gold standard, and the rise of fiat currencies. Set in a joyful valley ruled by King Invictus, the story narrates the consequences of abandoning the gold-backed currency, drawing parallels to historical events like President Nixon's departure from the gold standard. Blazyca introduces Bitcoin as a solution to chronic inflation, aligning with crypto critiques of central bank digital currencies. While suitable for ages 6 and above, adult guidance is recommended to navigate the complex topics presented, fostering meaningful discussions about the history of money. "The Valley of Prosperity" serves as an engaging resource for parents seeking a fun approach to explaining Bitcoin to their children and provides a concise summary of monetary history for adults.