Welcome to the latest update from Datawallet Daily. We’re bringing you the essential stories that have been impacting the cryptocurrency world in the last 24 hours:
Worldcoin Links with Shopify, Minecraft, Reddit, Telegram
Worldcoin has released “World ID 2.0,” integrating with platforms like Shopify, Mercado Libre, Reddit, and Telegram to authenticate user identities. Building on existing partnerships with Discord, Talent Protocol, and Okta’s Auth0, this version offers varied authentication levels, allowing users to share information according to each application’s security requirements.
High-security applications might demand orb-verified IDs, while others may accept device-verified IDs. This flexibility aims to combat retail issues like fraud and bot activity. Despite concerns over its iris scanning for high-security verification, Worldcoin assures that only the proof, not the actual biometric data, is stored, addressing privacy concerns.
SEC Delays Invesco Galaxy Ethereum ETF Decision to 2024
The U.S. Securities and Exchange Commission has postponed its decision on approving Invesco and Galaxy Digital’s proposed spot Ethereum exchange-traded fund. The original deadline for the decision was December 23, 2023, but the SEC has extended this to February 6, 2024.
This delay affects a potential spot crypto investment vehicle, which would be the first of its kind as the SEC has not yet approved any ETF directly exposing Ethereum or other cryptocurrencies. The Invesco and Galaxy Digital application is among several being reviewed, including submissions from BlackRock, Hashdex, ARK 21Shares, VanEck, and Fidelity.
Yearn.finance Requests Return of $1.4M Post Multisig Error
Decentralized finance protocol Yearn.finance is urging arbitrage traders to return $1.4 million in funds lost due to a multisig scripting error. This error, which occurred during a conversion process on CowSwap, resulted in a 63% decrease in the protocol’s treasury value. The lost funds originated from Yearn’s treasury, not affecting customer assets.
In response to the mishap, Yearn is appealing to traders who profited to consider returning a fair amount. One trader has already sent back 2 ETH ($4,500). To prevent similar issues, Yearn plans to implement improved management contracts, clearer messaging, and stricter price thresholds. This incident follows an $11.6 million exploit in April involving Yearn Tether tokens.
Rainbow Wallet’s “Fox Hunt” Attracts Thousands from MetaMask
Ethereum wallet Rainbow has launched a Rainbow Points rewards program, potentially hinting at a future token airdrop. Aimed at engaging the Ethereum community and drawing users from MetaMask, the program allocates points based on Ethereum wallet activity, including balances and holding a Rainbow NFT. Extra points are awarded for switching from MetaMask to Rainbow.
This strategy, similar to the “vampire attack” tactic used by NFT marketplace Blur, focuses on incentivizing exclusive platform usage. Rainbow’s announcement playfully targets MetaMask, stating, “This isn’t a vampire attack. It’s a fox hunt.” Rainbow has not confirmed if the points will lead to a token airdrop, unlike MetaMask, which previously announced but has not yet released a token.
Other breaking news
- 3AC’s Su Zhu Set for Year-End Release After Court Interrogation: Report
- Web3 Chess Game Ends Play-to-Earn Feature Over Rampant Cheating
- Ubisoft Announces Minting Date for “Champions Tactics” Free Ethereum NFTs
- CFTC Proposes Rule to Enhance Customer Protections Following FTX Collapse
- JPMorgan Predicts Ethereum to Outperform Bitcoin in Coming Year
Wrapping up today’s issue: Worldcoin is trying to regain some relevance, integrating with platforms like Shopify, Minecraft, Reddit, and Telegram. The SEC has postponed its decision on approving Invesco and Galaxy Digital’s proposed spot Ethereum ETF. Approval of an Ethereum Spot ETF is unlikely to come before approval of a Bitcoin Spot ETF. Yearn.finance has encountered another setback, losing $1.4 million due to a multisig scripting error. And finally, Rainbow Wallet is making strides in attracting users from MetaMask by promising a token. Keep an eye out for more updates!