In the last week of March 2023, the crypto industry has seen some optimistic developments around the world. There are possibilities that these endeavours may help in the further advancement of the crypto market’s progress. One such initiative is the efforts made by the crypto exchange platform OKX to operate in Hong Kong as a licensed virtual-asset provider.
Additionally, the launch of the unique KCC V1.3.0 upgrade by KuCoin Community Chain on testnet is another positive development. Moreover, South American Airlines has embraced NFTs for tickets with the use of the Algorand blockchain. Furthermore, a collaboration has taken place between Ankr and Polygon for the optimization of the Web3-based development experience. On the other hand, Sam Bankman-Fried (the former CEO of FTX) has created the latest bail contract with the prosecutors.
Bankman-Fried Makes a Unique Bail Contract with the Prosecutors
The legal battle between the former FTX CEO Sam Bankman-Fried (SBF) and the US prosecutors has continuously been interesting for the crypto community. At present, the notorious entrepreneur is facing several legal difficulties dealing with the collapse of the now-defunct crypto exchange FTX. The latest developments in this respect say that the defence attorneys and the US prosecutors are reaching another bail contract for SBF.
As per the prosecutors, SBF got involved in fraudulent operations, paving the way for the massive decline of the crypto platform. The accusations take into account the falsification of trading volume, running an exchange for unregistered securities, and market manipulation. In response to this, the legal team of the entrepreneur has proposed some revised conditions for the bail. In this way, he will have an exclusive phone that will have no internet access along with a basic laptop having limited functionality.
OKX Files a License Request to Launch an Entity in Hong Kong for Virtual Assets
The prominent crypto exchange platform OKX is determined to create a forum in Hong Kong. In this way, the platform intends to receive a license and provide services related to virtual assets. As per Lennix Lai (a senior executive at the platform), getting a license can be important to achieve success in the crypto and Web3 sectors. According to the officials, the company is determined to invest in the talents and cooperate with the regulators. In this way, the firm’s endeavours will help the jurisdiction to have a strong regulatory framework and become a well-known place for virtual assets.
KCC V1.3.0 Upgrade of KuCoin Community Chain Launches on Testnet
KuCoin Community Chain is launching the exclusive KCC V1.3.0 upgrade on testnet. The upgrade will reportedly merge the upstream codes. The firm mentioned that it will enhance its performance and provide a solution for some vulnerabilities. Nonetheless, the testing phase is to detect the potential issues to be resolved before the mainnet launch. For this purpose, the firm will carry out thorough testing and ensure stability and convenience for the users.
South American Flybondi Airline Accepts Tickets in the NFT Form
The recent spike in NFT adoption has successfully brought several famous organizations across the globe to this sector. Recently, a South American Airline named Flybondi declared embracing NFTs in the form of flight tickets. The respective technology was first launched by TravelX (a tech platform). With this, the consumer service charges are minimized.
The respective endeavour would permit the efficient and flexible distribution of the tickets whereby the clients can conveniently resell the NFT tickets. The technology is developed on the decentralized and autonomous blockchain network Algorand. In this way, the consumers will be allowed to avail of unparalleled flexibility, security, and convenience with NFT tickets.
Ankr and Polygon Join Forces to Improve Development Experience in the Web3 Sector
The all-inclusive Web3 developer company Ankr has initiated a collaboration with Polygon Labs, a development group supporting Polygon (a scaling protocol built on the Ethereum blockchain). The collaboration intends to enhance the development procedure for the developers in the Web3 sector. Ankr is currently a collaborator to implement the Polygon Supernets.
It also plays the role of an infrastructure vendor. The platform offers a comprehensive engineering solution to create application-centred blockchains like Polygon Supernets. Its solution takes into account several benefits of application-centred “AppChains” that include customization, performance, and security.
