Another giant falls
This week in Web3 Wednesday:
- Russia to launch national cryptocurrency trading platform
- BlockFi files for bankruptcy
- Phantom wallet expands beyond Solana
- Coinbase Wallet will no longer support Bitcoin Cash (BCH), Ethereum Classic (ETC), Ripple's XRP Ledger (XRP), and Stellar (XLM)
Russia to launch national cryptocurrency trading platform
Russian lawmakers are working on amendments to launch a national crypto exchange.
This effort is reportedly supported both by the Ministry of Finance and the Central Bank of Russia, which have a long history of disagreement over crypto regulation in the country.
According to Cointelegraph, The Duma, the lower house of the Russian parliament, has been in talks with market participants about changes to the country’s current cryptocurrency legislation “On digital financial assets.”
BlockFi files for bankruptcy
The second-order effect of the collapse of FTX has another took down another crypto business – a centralized lender BlockFi. The lender filed for Chapter 11 bankruptcy on Monday.
The move comes two weeks after BlockFi suspended withdrawals due to “the lack of clarity on the status of FTX.com, FTX US, and Alameda.”
Phantom wallet expands beyond Solana
Phantom, the leading crypto wallet in the Solana ecosystem, said Tuesday it will add support for assets on the Ethereum and Polygon blockchains, with the rollout beginning in about three months, according to a representative.
Earlier this month, MagicEden, Solana’s leading NFT marketplace, announced integration with the Polygon network to accelerate the development of exciting blockchain-based games and global brands entering #Web3.
Coinbase Wallet will no longer support Bitcoin Cash (BCH), Ethereum Classic (ETC), Ripple's XRP Ledger (XRP), and Stellar (XLM)
According to an update on the crypto exchange’s website, Coinbase Wallet will no longer support the native tokens associated with Bitcoin Cash (BCH), Ethereum Classic (ETC), Ripple's XRP Ledger (XRP), and Stellar (XLM), effective Dec 5th.
The assets will no longer be supported on Dec. 5, although users with balances will be able to withdraw after that date with a recovery phrase.