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FameEX Morning Crypto News Recap | May 31, 2023

2023-05-31 12:00:30

US Government Urges Appointment of Independent Examiner in FTX Bankruptcy Case
Following the U.S. bankruptcy court judge's denial of the U.S. Trustee's request for an independent investigator in the FTX bankruptcy case, the government is now appealing the decision. The appeal has been sent to the U.S. Third Circuit Court of Appeals, and Chief Judge Colm F. Connolly has acknowledged the obligation to consider the Trustee's request.

Tron's Multisig Mechanism Exposes $500M in Digital Assets Due to Critical Vulnerability
A cybersecurity research team called 0d, a division of Dwallet Labs, has uncovered a critical vulnerability in Tron's native multi-sig mechanism, potentially affecting over $500 million in digital assets stored in Tron multi-sig accounts. The team reported that Tron's development team has addressed the issue by developing a patch for the bug.

Bali Government Implements Stricter Regulations on Crypto Payments by Foreign Tourists
The government of Bali, Indonesia, is taking strict measures to prevent foreign tourists from using cryptocurrency for payments. Governor of Bali has warned of severe consequences including deportation, administrative penalties, criminal charges, business closure, and other stringent sanctions for violating these regulations.

Japan's Leading Airline Introduces NFT Marketplace
All Nippon Airways (ANA), Japan's largest airline, has introduced an aeronautical-themed NFT marketplace in collaboration with its subsidiary, ANA Neo. This move represents ANA's continued expansion into the intersection of airlines and Web3 technologies. The marketplace offers a platform for trading nonfungible tokens related to the aviation industry.

Russia's Foreign Minister Reports Shift Towards National Currency Settlements, Decline in US Dollar Share
Russia's Foreign Minister, Sergey Lavrov, stated that Russia is actively transitioning to settlements in national currencies with its partners, noting a decline in the share of the US dollar. Lavrov emphasized that this shift is not limited to Africa but also includes Latin America, Asian countries, and nations like Iran, India, and China, signaling a growing momentum away from the USD.

United Arab Emirates Central Bank and Hong Kong Monetary Authority Enhance Financial Cooperation
The Central Bank of the United Arab Emirates (CBUAE) and the Hong Kong Monetary Authority (HKMA) recently met in Abu Dhabi to strengthen cooperation between their respective financial sectors. The bilateral meeting aimed to enhance collaboration and foster closer ties between the two jurisdictions.

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