Crypto News of the Day: Ethereum Testnet simulates first staking withdrawals, Millions of dollars in crypto raised for Turkey earthquake disaster

Hello, ApolloXplorer!

Have you seen today’s key headlines yet?

#1. Ethereum Testnet processes first staking withdrawals

The Zhejiang Ethererum testnet has successfully simulated withdrawals of staked ether for the first time.

The testnet facilitated the withdrawal simulations early Tuesday after going live last week.

This can be considered a dress rehearsal of what will happen on the main Ethereum blockchain during its Shanghai upgrade next month.

Zhejiang is the first of three testnets to run through a simulation of Shanghai.

#2. BIS to launch stablecoin monitoring project

The Bank for International Settlements (BIS) will launch a new project to monitor stablecoins.

Project Pyxtrial will develop a platform to monitor the balance sheets of stablecoins.

The so-called “bank for central banks” also announced it will "increase its focus" on CBDCs in 2023 to improve payment systems.

#3. No crypto Super Bowl advertising this year

There will be "zero representation" of crypto companies in the advertising lineup for this year's Super Bowl, according to broadcaster Fox Sports.

Following the collapse of crypto exchange FTX in November, deals fell apart.

Last year's Super Bowl was so overrun with crypto ads – including from Coinbase, Crypto.com and FTX – that it became known as the "Crypto Bowl."

#4. SBF appeals decision to reveal bond co-signers

Former FTX CEO Sam Bankman-Fried appealed a judge’s decision to unseal the names of two people who co-signed his $250M bond.

U.S. District Judge Lewis Kaplan granted a motion to unseal the names of the co-signers last month, after a group of media outlets asked the court to make the names public.

Bankman-Fried’s lawyer had argued that the co-signers could face privacy and security issues if their names are revealed.

#5. Turkish nonprofits raise millions of dollars in crypto

Nonprofit organizations are leading an effort to raise millions of dollars in crypto to aid victims of Turkey’s deadly earthquakes.

Turkish singer Haluk Levent’s charity Ahbap leads the response with roughly $2 million in crypto donations raised on the Avalanche, BSC and Ethereum blockchains in less than a day.

On Twitter, Levent claimed the addresses had been approved by Turkey’s Financial Crimes Investigation Board (MASAK) although the nation's central bank banned crypto payments in April 2021.

The effort is the latest example of crypto being used to crowdfund cross-border responses.

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