Binance hires ex-FBI agent to [lead investigations](https://www.wsj.com/articles/binance-us-hires-high-profile-fbi-agent-as-head-of-investigations-11666278072). BJ Kang is evidently the “[most feared man on Wall Street](https://cointelegraph.com/news/binance-us-taps-most-feared-man-on-wall-street-for-new-investigations-unit). _I’m scared already._

Tether is making USDT available at [24,000 ATMs in Brazil](https://decrypt.co/112544/tether-usdt-will-be-available-from-24000-atms-across-brazil). _Someone needs to write a song about this. Perhaps Toto can be convinced to recreate its _[_biggest success yet_](https://www.youtube.com/watch?v=tsIi0RmOLmQ)_, but with a Brazilian theme: “I bless the ATMs down in Brazil ….”_

https://youtu.be/tsIi0RmOLmQ

The Fool asks if Ripple is destined to be [the next PayPal](https://www.fool.com/investing/2022/10/20/will-ripple-be-the-next-paypal/). _I can see a world where Ripple competes side by side with PayPal while the two partner in some ways._

The chief risk officer at Genesis Trading is leaving after [just three months](https://www.coindesk.com/business/2022/10/20/dnp-genesis-chief-risk-officer-said-to-be-exiting-after-three-months/).

Celsius is getting a $17 million [kiss on the cheek](https://www.cnbc.com/2022/10/20/cryptocurrency-service-provider-agrees-to-return-17-million-to-digital-lender-celsius-.html).

Interpol launches its own [metaverse initiative](https://cointelegraph.com/news/put-your-hands-up-interpol-storms-into-the-metaverse). _Fighting crime in the 21st century just got interesting._

Fintech bank N26 is [launching a crypto unit](https://cointelegraph.com/news/mobile-bank-n26-launches-cryptocurrency-trading-with-bitpanda-partnership). _I hope they do a better job with it than Robinhood. _Not to be outdone, Plaid is introducing a Web3 product it calls a [wallet connector](https://thepaypers.com/cryptocurrencies/plaid-launches-crypto-wallet-as-its-first-web3-product--1258823). _This product for developers looks interesting, but Plaid is primarily used to connect traditional financial applications. _Nubank [wants in on the action](https://www.yahoo.com/video/brazils-nubank-introduce-cryptocurrency-part-120407247.html) too. _Of course!_

Fidelity now offers [ETH custody](https://cointelegraph.com/news/4-5t-asset-manager-fidelity-offers-eth-custody-and-trading-to-clients) services.

Rarible upgrades as [an aggregator](https://cointelegraph.com/news/rarible-nft-marketplace-adds-web3-aggregation-with-new-version). _In other words, you’ll be able to browse and purchase NFTs from OpenSea and other Ethereum-based NFT marketplaces._

Bitfinex victims are still struggling to [get their bitcoin back](https://www.cnbc.com/2022/10/20/battle-over-billions-in-stolen-bitcoin-recovered-in-doj-seizure-.html) from the Department of Justice (DOJ) seizure several months ago. _Now it’s been six years since the infamous hack and the value of bitcoin has skyrocketed. I wouldn’t be surprised if the DOJ keeps it all._

![](https://substackcdn.com/image/fetch/w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fb08b0a19-49d2-4efa-b450-2c99e733f5be_750x422.jpeg) 

Forbes says you should be excited about [a digital dollar](https://www.forbes.com/sites/williamanderson/2022/10/20/why-you-should-be-excited-for-a-central-bank-digital-currency-cbdc/?sh=50d01f876cbd). Lobbyist wants the Bank of England to [consider private stablecoin competition](https://www.yahoo.com/video/protections-needed-stop-digital-pound-165012242.html) before launching a digital currency. _I’m sure they’ll consider all their options._

If you’ve been waiting for DeSo to launch, it is now ready for you to [claim your username](https://www.deso.com/). _There’s something about this that seems eerily reminiscent of the early Web2 days. My concern is this: DeSo is “backed”—as in financed—by “proven investors,” including Coinbase, Sequoia, Andreessen Horowitz, Winklevoss Capital, Pantera, and Arrington XRP Capital. Just to name a few. What that means is DeSo will be beholden to the money group, not to its users. This is what Jack Dorsey meant when _[_he said_](https://twitter.com/jack/status/1473139010197508098?lang=en)_, “You don’t own ‘web3.’ The VCs and their LPs do…. a centralized entity with a different label.” That’s not to say there isn’t anything to like about it. I won’t go into all the details here, but you can read _[_the whitepaper_](https://docs.deso.org/about-deso-chain/readme)_ for yourself. While trying to claim my username, I noticed the following: 1) You need at least .001 ETH in your MetaMask wallet before you can join; 2) They want your email address (even though you connect your crypto wallet); and 3) When I finally got to the Save & Continue button when creating my profile, I got this message: “Something went wrong with submitting your profile — please retry.” Mindboggling. But at least they’re backed by proven investors._

On a similar note, Dorsey’s BlueSky initiative has [launched its @ Protocol](https://decrypt.co/112332/jack-dorsey-founded-bluesky-unveils-roadmap-for-decentralized-social-network) for social media platforms. _I’ll be real curious to find which platforms actually adopt this._

The Lord of the Rings isn’t exiting Middle-Earth, but it is entering [the world of Web3](https://techcrunch.com/2022/10/20/warner-bros-teams-up-with-web3-startup-eluvio-to-launch-lord-of-the-rings-nfts/), and NFTs promise to [democratize TV programming](https://cointelegraph.com/news/can-nfts-democratize-scheduled-programming-of-tv-in-the-web3-era). _I’m more interested in a virtual Mordor._

Mango Labs hacker [outs himself](https://www.occrp.org/en/daily/16921-114m-crypto-hacker-outs-himself-returns-most-of-the-money) and returns the money. A former hacker reveals [how unsecure Web3 really is](https://securityintelligence.com/articles/dangerous-flaws-web3-according-to-hacker/). _And there’s pretty good evidence it’s __**insecure**__, as well._

Crypto fans are reimagining [how books are published](https://www.esquire.com/entertainment/books/a40654712/crypto-books-future/). _This is right up my alley, and a __**DARN GOOD READ**__. The fact that it’s published by Esquire means the discussion has gone mainstream. When you finish, you’ll want to read _[_How Social Tokens Can Transform Book Publishing_](https://forefront.market/blog/how-social-tokens-can-transform-book-publishing)_. I beat them to the Forefront._

4 different states send cease-and-desist letters to [NFT casino Slotie](https://www.shacknews.com/article/132765/slotie-nft-casino-cease-and-desist).

How do you [sue a DAO](https://www.techdirt.com/2022/10/20/how-do-you-sue-a-dao/)?

South Africa is forcing crypto platforms to [get licensed](https://www.reuters.com/technology/south-african-financial-regulator-crypto-platforms-must-be-licensed-2023-2022-10-20/).

_Snark and commentary in italics. Inclusion of an item does not mean I agree or endorse the ideas presented. Of course, it also doesn’t mean I don’t._

Cryptocracy is a decentralized newsletter published several times a week. I curate the latest news and crypto analysis from some of the brightest minds in crypto, and sometimes offer a little insightful and snarky commentary. Always fresh, always interesting, and always crypto.

_First published at_ [_Cryptocracy_](https://cryptocracy.substack.com/p/binance-hires-most-feared-man-on)_. Not to be construed as financial advice. Do your own research._

Source: CNBC