Protocol and regulatory updates: Zcash NU7, payjoin, Nigeria stablecoin rules, WLFI buyback
Zcash NU7 went live, Bull Bitcoin added payjoin trading, Nigeria issued stablecoin licensing rules, and World Liberty plans a WLFI buyback after a 66% YTD drop.
What we know
CoinDesk says NU7 cuts block time to 25 seconds and reduces wallet scanning work. Adam Back RTs Bull Bitcoin's payjoin trading launch. The Block reports Nigeria's Class 1 and Class 2 stablecoin licences and its algorithmic stablecoin ban. CoinDesk says WLFI's buyback will be funded by USD1 reserve fees.
How the story developed
Zcash NU7 went live, Bull Bitcoin added payjoin trading, Nigeria issued stablecoin licensing rules, and World Liberty plans a WLFI buyback after a 66% YTD drop.
Spot BTC ETFs are down about $870M on the week as traders debate whether the equity-driven dip resolves with a bounce.
Stifel sees the Clarity Act path as basically shut, while the FT reports Democrats eyeing a Strategic Bitcoin Reserve expansion to court crypto voters.
Binance says it has replenished about 98% of assets from its Oct 29 breach. A reported cyberattack hit France's blood service freezers, and Privacy Cash paused deposits in response to the Binance hack.
Crypto commentators call the Democratic sweep neutral-to-bullish and say BTC held after the last major uncertainty passed. ETF flows are still negative and traders watch $74K support and $79K resistance.
Justin Sun moved to sanction World Liberty Financial over late disclosure of UAE citizenship, tied to a UAE $2B Binance investment settled in USD1.
Ardoino says Tether holds about 150K BTC, roughly 50K more than its reserve report implied, while Justin Sun moved to sanction World Liberty Financial.
Tomorrow's midterms are drawing crypto industry money and organizing, with the Clarity Act's fate hanging on the new Congress.
THORChain halted swaps after an Ethereum reorg, the Pando Rings hacker is laundering ETH via Tornado Cash, and a Swedish grocer reports a cyberattack that set freezers to 50°C.
Binance is restoring withdrawals in phases after a hack described as roughly $5B. Bitcoin came first, then USDC, USDT, ETH and BNB on Ethereum and BSC.
Sources
“Zcash's NU7 upgrade goes live, cutting block time to 25 seconds”
View post →“Nigeria's central bank issued rules requiring stablecoin issuers to obtain licences and banning algorithmic stablecoins.”
View post →By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.