RABIT Weekly News (W2 October 2022)

Oct 14, 2022 • 1 min read

On September 4th, the ministry of the treasury of Russia reported that Russia is currently reviewing its full acceptance policy on using Bitcoin and other cryptocurrencies for payments. The full acceptance policy currently being reviewed allows the unlimited utilization of all types of cryptocurrencies on international payments between countries. Ivan Chebescov, the head of Russia's Finance Ministry's Financial Policy Department, revealed, "Related law will take effect next year, but it will make it possible to use cryptocurrency payments in international trade."
On September 26th, Fidelity released a new Ethereum index fund that follows the price of Ethereum. The fund currently has $5million in assets, and the minimum investment has been $50,000 since its release. Fidelity seems to continue expanding its cryptocurrency business by launching new Ethereum investment products during the slump in the cryptocurrency market.
On October 7th, the BNB chain, an Ethereum-compatible blockchain platform operated by Binance, the world's largest cryptocurrency exchange, was exposed to a cross-chain bridge exploit attack. The Binance CEO Changpeng Zhao says on Twitter, "Due to the hacker attack on BSC token hub, I requested all validators to shut down the BSC operation temporarily." The estimated amount of damage is $100 million to $110 million.

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