Ah not only is it Monday my weekly arch Nemesis it's also leaf blower Appreciation day or at least I presume It is because my neighbors are sure Showing their support right now okay Guys we we gotta anyway on your cool Calm collected host Andrew and this is Crypto espresso your teeny tiny daily Shot of caffeinated crypto headlines Deep breath deep breath first up the Reserve Bank of Zimbabwe plans to launch A gold-backed digital currency as legal Tender to stabilize its own currency and Counter depreciation against the US Dollar this initiative enables Zimbabweans to exchange small amounts of Local currency for digital gold tokens Mitigating currency volatility for over A decade Zimbabwe has struggled with Rampant inflation reaching 108.7 percent Last October resorting to the US dollar And reintroducing its own currency at Various points crypto adoption has Increased in African countries due to Economic challenges and the Middle East And North Africa region is the fastest Growing region for crypto option According to chain analysis kucoin's Official Twitter account was compromised In the early hours of April 24th for About 45 minutes this led to users Losing funds in a fake giveaway event The Exchange has promised to reimburse The losses of 22 identified transactions
And is working on improving its security Measures this comes on the back of a Growing number of hacks where attackers Target crypto exchanges and other web 3 Platforms such as nft projects to Promote scams and exploit users okay Remember when Joe Biden was doing a Totally real not scammy Bitcoin giveaway Man he is just the hippest president Trustwallet has disclosed a security Vulnerability identified in their bug Bounty program which has led to a loss Of nearly 170 thousand dollars for some Users the issue has been patched and Trustwallet will refund affected users And offer gas fee assistance the Vulnerability affected wallet addresses Generated between November 14th and 23rd 2022 through the trustwallet browser Extension users with vulnerable Addresses have been urged to create a New wallet and transfer These funds the Company stressed that security is their Top priority and has advised the Developers using their wallet core Library in 2022 to implement the latest Version a South Korean district court Has dismissed charges of security Violations against former terraform lab CEO and co-founder Hyun song Shin ruling That Luna the native token of the Terra Ecosystem is not a security under Korea's capital markets act the court Rejected the prosecution's requests for
Property confiscation and arrest Warrants making the Terra Luna case About fraud and breach of trust rather Than Capital markets act violations this Ruling contrasts with the U.S sec's Stance which has charged terraform Labs Founder Dole Quan with Securities laws Violations and finally a California Court granted Yuga Labs creators of the Board ape Yacht Club base C nft Collection a partial summary judgment Against Rider rips and Jeremy cahin Responsible for the rrbase C nft Collection this collection featured Apes In similar poses and was marketed it in The same fashion as board ape Yacht Club The Court ruled that Yuga lab Zone's Valid and enforceable board ape Yacht Club trademarks and the defendant's use Of these marks resulted in consumer Confusion and did not qualify as fair Use or artistic expression the judge Also disagreed with the argument that Nfts are not protected under the Lanham Act stating that as virtual Goods they Still qualify as goods due to their Unique properties and speaking of Qualifying as Goods if you think crypto Espresso qualifies as singular good well Be sure to like this video subscribe to Our YouTube channel and click on that Little bell icon to get buzzed whenever A new crypto espresso video goes live And what did you think about today's
Episode just let me know in those Comments below because I read them and I Tend to take that feedback way too Seriously questions about our headlines Or crypto in general ask Alex in that Description below Alex is always a great Resource for all things web 3 and the Metaverse and that about does it for Today again I've been your host Andrew These have been your headlines and we'll See all of your beautiful shining faces Tomorrow
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