The Crypto Compass Issue #36

Hello to our dear readers and crypto enthusiasts!

Welcome back to another edition of The Crypto Compass! This week was packed with exciting news and significant developments in the crypto space. Dive in for a comprehensive update on the latest events.

Hacker Steals Over US$690,000 After Hijacking Vitalik Buterin's X Account

In an audacious move, a hacker managed to gain unauthorized access to Ethereum co-founder Vitalik Buterin's 'X' account, making off with a staggering $690,000 from victims. The breach serves as a potent reminder of the persistent security challenges present in this space and underscores the need for vigilance, regardless of stature within the crypto community.

This is why we have been advocating on the best wallet management practice, of having at least 3 wallets for your various on-chain activities. This is to minimize your risks in the event of such phishing incidents.

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Cboe's BZX Exchange Files to Launch Ark 21Shares, VanEck Spot Ether ETFs

The crypto ETF space continues to expand, with the CBOE BZX Exchange recently filing to launch spot Ether ETFs in collaboration with ARK, 21Shares, and VanEck. If approved, these ETFs would provide investors a more direct exposure to Ethereum's native token, further bridging the gap between traditional and crypto markets. We believe the ETF narrative for Bitcoin and Ethereum could drive prices up towards the next level in the next cycle.

Tangem applet receives certification from VISA

In an encouraging development for decentralized payment solutions, Tangem's - which BitcoinWalletSG is the official reseller of - applet has received official certification from Visa. This approval paves the way for Tangem to launch its self-custodial payment solution, bolstering options for users who prioritize full control over their funds while ensuring security and compliance.

Happenings of the week

• Visa Payments Will Rely on 'Multiple Blockchains'

• Global Stablecoins need governing body

• Consensys-owned Infura plans to start decentralizing by end of 2023

• Coinbase Creates New Crypto Lending Service Geared Toward Large Investors

• Ripple acquires Fortress Trust in cash-and-equity deal

Future Ethereum Upgrades Could Allow Full Nodes to Run on Mobile Phones: Vitalik Buterin

Ethereum’s evolution continues as Vitalik Buterin, the platform's co-founder, recently hinted at future upgrades that could enable full nodes to operate on mobile phones.

This transformative change not only speaks to the scalability and efficiency improvements being made to the network but also has the potential to vastly increase the decentralization and accessibility of Ethereum.

If realized, individuals could support the network's security and functionality directly from their pockets, amplifying the promise of decentralized systems.

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