1. Jelena McWilliams, the chairperson of the Federal Deposit Insurance Corporation, or FDIC, has said the agency is working with other regulators in the United States to explore under what circumstances banks can engage in activities involving crypto assets. In a speech at the Money20/20 Fintech Conference on Monday, McWilliams said the FDIC, in coordination with the Federal Reserve and the Office of the Comptroller of the Currency, is looking to provide regulatory clarity for banks handling crypto assets, including stablecoins.
2. The ultimate goal of any cryptocurrency project is to achieve widespread adoption by offering a use case that offers real-world value that can be applied in every home across the globe. Thanks to its user-run wireless network, Helium, a 5G Internet-of-Things-focused project, made a significant stride towards greater adoption as it revealed a new partnership with Dish Network (NASDAQ:DISH) on Oct.
3. Months after losing $25 million to the cold hands of hackers, Cream Finance has suffered yet another major attack. On Wednesday, a malicious actor made away with over $100 million worth of funds in a fresh loan attack.
4. Osmosis, a decentralized exchange, or DEX, on the Cosmos blockchain, raised $21 million dollars in a token sale led by VC fund Paradigm along with a consortium of investors that includes Robot Ventures, Nascent, Ethereal and Figment. Osmosis allows developers to build customized automated market makers, or AMMs, with sovereign liquidity pools.
5. Despite Russian officials’ increased interest in cryptocurrencies like Bitcoin (BTC), Russia’s internet ombudsman expressed confidence that local crypto regulations will remain largely prohibitive. Dmitry Marinichev, Russia’s ombudsman for the protection of entrepreneurs’ rights under Russian President Vladimir Putin, discussed Russia’s approach to cryptocurrency regulations at a panel of a major local industry event, Blockchain Life 2021, on Wednesday.Continue Reading on Coin Telegraph.
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