Daily News Round-up November 2

THEFT
South Korean Officers Blame North Korea For Crypto Thefts

Intelligence officers in South Korea are pointing fingers once again at their infamous neighbour, North Korea for hacking into users’ computers in the South to mine crypto and steal funds. Officials believe the North Korean crypto-miners are using the same malware that was discovered in January, and that the funds are being used to foster the economic development of North Korea.

Stablecoins
Tether Hooks Up New Bank After Considerable Due Diligence

Controversial stablecoin Tether (just added to Nauticus Exchange) has found a new banking partner in the form of Bahamas based Deltec Bank and Trust. Announcing the partnership Tether stated the bank has done A LOT of due diligence, essentially saying ‘You Can Trust Tether Again’. The due diligence included: “an analysis of our compliance processes, policies and procedures; a full background check of the shareholders, ultimate beneficiaries and officers of our company; and assessments of our ability to maintain the USD-peg at any moment and our treasury management policies.” After an alarming dip a fortnight ago, Tether has returned to parity with the US dollar, give or take a fraction of a cent.

NUTBAG
Michael Keaton Will Play Nutbag John McAfee

Michael Keaton will play crypto sage/lunatic John McAfee in a film about his life called King of the Jungle. Keaton, best known for playing Batman, Birdman and Beetlejuice, takes the part after Johnny Depp dropped out. The film is based on a Wired article called ‘John McAfee’s Last Stand’. In other McAfee developments, he says he’s running for President purely so he call shill Bitcoin in the national media. Coz that’s the kinda guy he is.

REGULATION
Nasdaq: Cryptocurrency Market Manipulation Can Be Stopped

US stock exchange Nasdaq has released a report considering the plethora of “pump-and-dump schemes, insider trading and wash trading” not to mention blatant price manipulation that has infected to crypto market. Given the stock market has dealt with all of these issues in the past, Nasdaq says it is perfectly placed to monitor, identify and thwart such practices. By a curious coincidence, Nasdaq just happens to have sold its SMARTS technology to Gemini, SBI Virtual Currencies, and three other platforms — and will happily sell it to any other platform too.

LAWSUIT
Korean Court Rules Against Major Bank

A district court in South Korea has ruled in favour of Coinis cryptocurrency exchange against Nonghyup Bank. The court decided that Nonghyup Bank cannot block transactions to Coinis’ account based on the government’s anti-money laundering guidelines. The lawyer involved in the case, Kim Tae-lim stated that Nonghyup Bank had breached its contract with Coinis by suspending their transactions. This is reportedly the first time that a Korean cryptocurrency exchange has taken legal action against a bank for suspending its transactions.