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Crypto winter ushers in account freezes as platforms feel the chill

Top blockchain and crypto news: Investors snowed in as liquidity crunch hits. Solend harpoons anti-whale maneuver. Chinese NFTs prove a tricky target.
Singapore grants Crypto.com in-principle approval toward offering payment services

The Singapore-based cryptocurrency exchange Wednesday said the approval toward a license will eventually allow it to offer a range of payment services in the city-state. See related article: Singapore warms up to crypto industry — on its own terms Fast facts Crypto.com has received an in-principle approval from the Monetary Authority of Singapore (MAS) for…
Calls for policing NFTs gain ground as fraud cases rise

A perceived failure to address increasing fraud in the NFT industry prompts calls for regulation and the adoption of a more centralized approach to weed out bad actors.
STEPN’ing it up with crypto move-to-earn

Enticed by promises of crypto rewards, Joel Stein hits the streets of Los Angeles with a beautiful NFT sneaker. What does he earn — and learn?
Chinese maker of virtual garment designing software raises nearly US$100 mln

Linctex Digital Technology, headquartered in China’s southeastern province of Zhejiang, Tuesday said the pre B+ round included commitments from existing investors Hillhouse Ventures and CDH Investments. See related article: Fashion, art, games and community: What does a decentralized metaverse mean for you? Fast facts Linctex’s software allows designers to create virtual wear, digitize physical fabric,…
Cardano delays Vasil blockchain upgrade, citing bugs and ‘abundance of caution’

Input Output Global (IOG), the development company that runs the Cardano blockchain, on Monday said it will postpone the testnet of the network’s Vasil hard fork to the end of June, citing software bugs and a focus on quality and security. See related story: Cardano’s Alonzo Purple testnet begins onboarding users Fast facts The engineering…
Valar Ventures-backed Vauld to lay off 30% of staff

The Singapore-based cryptocurrency exchange said the actions of a “few market participants” are creating a lot of uncertainty in the eyes of customers. See related article: ‘Buckle up’ for downsizing crypto market as employees laid off Fast facts The layoffs impact every team with marketing and talent acquisition departments being affected the most, as Vauld…
S.Korea blocks ex-Terra employees from leaving country amid investigation

Prosecutors said they also wish to interview Terraform Labs Chief Executive Officer Kwon Do Hyung as part of an investigation into the multibillion dollar collapse of the company.
Chinese NFT platform apologizes for using Hong Kong movie star Louis Koo’s images

Lianwan, a Chinese “digital collectibles” platform that sells blockchain-based images, had claimed it was working with the Hong Kong action star. But Koo’s agency has denied any involvement. See related article: Storm in a teacup? WeChat bans account for flipping NFTs Fast facts On Saturday, Lianwan apologized for using Hong Kong action star Louis Koo…
Storm in a teacup? WeChat bans account for flipping NFTs

The ban comes as Chinese companies seek to comply with Beijing’s diktat against speculative activity in non-fungible tokens (NFTs). See related article: China’s diktat against NFT flipping spawns an ingenious industry Fast facts WeChat banned the official account of a Chinese NFT platform for “business activities related to secondary trading of digital collectibles or cryptocurrency.”…