Blockchain platform Algorand has today announced the launch of the Algorand Virtual Machine, or AVM, a layer-1 protocol upgrade designed to enhance decentralized app scalability for developers and organizations, enable instant transaction finality and sustain a negative carbon output.  In addition to these advancements, the AVM will also give developers program tools to write smart contracts in Python or Reach, a format similar to the multi-paradigm web page language Javascript. Cointelegraph reached out to Algorand's Chief Product Officer, Paul Riegle for his perspective on upgrade:

The Commodity Futures Trading Commission (CFTC) has charged 12 New York-based crypto options businesses with allegedly failing to register with the regulatory body. In a Sept. 29 press release, the CFTC outlined that it is charging 14 entities in total, with the 12 crypto-focused firms all on the hook for failing to register as futures commission merchants (FCMs). All of the firms were "allegedly based in New York." The other two companies have allegedly posted misleading information about their National Futures Association (NFA) membership and registration with the CFTC. The listed crypto options providers include relatively unknown names such as Bitfxprofit, Star FX Pro, Smarter Signals and BinanceFx Trade — the latter of which is unaffiliated to the major global exchange Binance despite its name.

Despite Beijing’s ever-increasing crackdown on the crypto industry, there are still some signs of life in the People’s Republic regarding the Bitcoin network and OTC trading. China intensified its clampdown on crypto last week in an effort to suppress any remaining activity related to digital assets within its borders. The regime specifically targeted crypto transactions, but as researched by Cointelegraph, this action is nothing new with at least 19 similar crackdowns over the past decade or so. Despite the latest move, there are still 135 Bitcoin nodes in operation in China according to data from Bitrawr which measures nodes by geographical location. However, this is just 1.21% of the total 11,262 Bitcoin nodes spread across the planet. There may be more if they are operating behind virtual private networks (VPNs) and/or using onion routing with Tor which masks locations

Twitter has unveiled an in-development tool that will enable users to display a verified NFT as their profile picture. Mada Aflak, a senior software engineer at Twitter, shared a video demonstrating functionality that allows users to add NFTs to their accounts. Users can simply edit their profile, connect a cryptocurrency wallet, and import their OpenSea collection. Then, they can choose an avatar from their collection of non-fungible token (NFT) digital art. The profile picture will also be marked with a badge to verify that the image is the genuine article, thereby allowing them to flex their hugely expensive CryptoPunk or Bored Ape profile picture and have everyone know it’s legit.

Kraken Security Labs has said that a “large number” of Bitcoin ATMs are vulnerable to hacking as the administrators never changed the default admin QR code. In a Sept. 29 blog post, Kraken posted research from its Security Labs team which found that there are “multiple hardware and software vulnerabilities” in the General Bytes BATMTwo ATM range. “Multiple attack vectors were found through the default administrative QR code, the Android operating software, the ATM management system and even the hardware case of the machine,” the post read.

Ripple Labs is launching a fund for creators, marketplaces and brands to explore new use cases for nonfungible tokens, or NFTs, on its ledger. In a Wednesday announcement, Ripple said the $250 million fund would be focused on accelerating adoption in the crypto space by working with nonfungible tokens, or NFTs. The platform said it wanted to address concerns with the minting of the tokenized artwork, including “clunky” user experiences, high transaction fees and the possible effects on the environment. “We believe NFTs embody the promise of tokenization and represent a tipping point for its embrace by the mainstream,” said Ripple. “Through the Creator Fund and the XRPL, we’re excited to unleash new utility for NFTs and accelerate the broader shift to tokenization.”

Nonfungible token (NFT) marketplace Metaplex has hired a new CEO and appointed an advisory board comprising some of crypto’s most influential voices, setting the stage for the continued growth of the Solana-based project.  Adam Jeffries, a developer with career stops at Google, Amazon, Citadel and Kaggle, has been appointed CEO of Metaplex Studios, the company announced Wednesday. Joining him is a new board of advisers that includes blockchain streaming platform Audius; CoinShares chief strategy officer Meltem Demirors; Cultur3 Capital co-founders Alex Yamashita, Mark Streeter and Rolf Hoefer; and Phantom chief product officer Chris Kalani. Rounding out the advisory group are Steven Irby, co-founder of Street Dreams Magazine, and Dylan Macalinao of Saber Labs. In addition to his professional background, Jeffries was hired for his vast codebase knowledge, which includes roughly two-dozen different languages. He told Cointelegraph that his focus on the user experience through application development led him to eventually join Metaplex. He explained: 

According to data from eth.btc.com，ethereum network's hashrate is669,715.90 GH/s，mining difficulty is9,100.89T. ETH's price ：$ 3,029.17 Avg Gas Price：150.00Gwei Pending Txs ：129704

Bitcoin Depot’s cryptocurrency ATM network continues to expand, with North American installations surpassing 5,000 for the first time amid a surge in retail adoption.  With the milestone, Bitcoin Depot is once again the largest ATM network in North America, the company announced Thursday. The number of kiosks has tripled in the last six months, giving more users access to cryptocurrency transactions without requiring a bank or other third-party financial services provider. Bitcoin Depot’s partnership with Circle K convenience stores has been a major source of growth for their crypto kiosks. As Cointelegraph reported, the two companies announced in July that the convenience store chain will be home to thousands of Bitcoin ATM machines.

Dogecoin (DOGE) co-founder Billy Markus has set his sights on nonfungible tokens (NFTs) and an Ethereum-to-Dogecoin bridge to help bring about for mass adoption of the meme coin. In a Sept. 30 tweet, Markus emphasized the importance of completing the Ethereum-Dogecoin bridge so that the asset could be integrated with top Ethereum-based NFT platforms such as OpenSea, enabling non fungible purchases with DOGE. Markus said that there is “high demand” to purchase NFTs within the crypto community and that enabling NFT purchases with DOGE “greatly increases its utility.”

Scientists are continuously pursuing ways to lengthen the human lifespan, and blockchain might have been a missing part of the puzzle. The Longevity Science Foundation, a Swiss entity launched by a consortium of biotech founders, clinicians and leading longevity research institutions, aims to spend more than $1 billion over the next 10 years to find tech-based means to achieve a 120-year human lifespan. The foundation seeks to fund research, institutions and projects that use blockchain and other next-gen technologies to find new horizons in four critical areas of the field; namely, therapeutics, personalized medicine, artificial intelligence (AI) and predictive diagnostics. The announcement states that such projects can make a significant difference in people’s lives, even within a five-year timeframe.  Applying theoretical longevity concepts to real-world use is a primary goal for the group. The foundation aims to transform scientific findings and technological advances into clinical treatments and solutions through donations.

Cryptocurrency exchange Binance has hired a former United States Internal Revenue Service agent to head its new intelligence division, a strong indication that the company is looking to bolster its compliance resources. Tigran Gambaryan joins Binance as vice president of global intelligence and investigations, the company announced Thursday. Binance is Gambaryan’s first private-sector employer since he joined the IRS as a special agent in September 2011. During his time at the IRS, Gambaryan investigated cases involving national security, terrorism financing, tax evasion and identity theft. He was also involved in the investigation of Silk Road, a dark web marketplace that facilitated some of the earliest cryptocurrency transactions. Silk Road was shut down by the FBI in October 2013, with founder Ross Ulbricht arrested and eventually sentenced to a double life sentence plus 40 years with no possibility of parole.

Join Cointelegraph host and analyst Benton Yaun alongside resident market experts Jordan Finneseth and Marcel Pechman on “The Market Report” — which is live right now! Here’s what to expect in this week’s markets news breakdown: Next, trader Gareth Soloway joins the show to discuss the recent correlation between BTC and the stock market, his sentiments toward the current market situation, and his analysis of BTC price action. Cointelegraph market analyst Pechman then gives a detailed explanation of hash rates, which are the measure of the processing power behind a network’s mining. What does 100 exahashes per second actually mean, and how does Bitcoin compare to other networks?

Decentralized finance (DeFi) interest rate protocol Compound Finance has reported a token distribution bug within its newly implemented Proposal 062, which is over-rewarding suppliers into the tens of millions of dollars.  The upgrade was designed to “split COMP rewards distribution and bug fixes” and was fully verified without issues. However, within hours, the team noted “unusual activity,” stating that “Compound Labs and members of the community are investigating discrepancies in the COMP distribution.” Despite the developments, the team has stressed that no funds either supplied or borrowed are at risk. Users of the protocol are reporting sizable windfalls, one claiming a deposit of 70 million COMP tokens into their account, equivalent to $20 million.

Social media platform TikTok has announced its first foray into the nonfungible token, or NFT, market with a new collection inspired by its leading trend-setters. On Thursday, the company unveiled TikTok Top Moments, a new program that allows creators to be recognized and rewarded for their content. The NFT drops will be launched on Ethereum and powered by Immutable X, a new scaling solution for layer-two NFT protocol Immutable. TikTok Top Moments is said to feature a selection of six TokTok videos from the network’s most influential creators. Each one is intended to celebrate the impact of these creators in making TikTok one of the largest social networks in the world.

Lawmakers in South Korea settled a long political battle on Sept. 30th and headed off moves by the ruling party to delay the implementation of the controversial crypto tax legislation.  In a meeting on the 26th but only reported yesterday, Finance Minister Hong Nam-ki and key Democratic lawmakers from the National Assembly, South Korea’s legislature, are said to have come to a final agreement that the crypto tax will be carried out as planned The Korean crypto tax will tax crypto profits in a similar way to traditional stocks. It will levy a 20% tax on income generated by crypto transactions in excess of 2.5 million Korean won, or about $2,100.

Belt Finance, an automated market maker (AMM) protocol operating a yield optimization strategy on Binance Smart Chain (BSC), claims to have paid the largest bounty in the history of decentralized finance (DeFi) to a white hat hacker who averted a $10-million bug crisis.  Industry white hat programmer Alexander Schlindwein discovered the vulnerability in Belt Finance’s protocol this week and reported the news to the team. For his efforts, Schlindwein received a generous compensation of $1.05 million, the majority of which ($1 million) was granted by Immunefi, with the additional $50,000 offered by Binance Smart Chain’s Priority One program. Immunefi is one of the market leaders in software security for cryptocurrency projects. Since its inception, the platform has reportedly paid out in excess of $3 million to white hat hackers who have successfully identified technical infrastructure flaws in smart contracts and crypto platforms.

One of France’s leading banks has turned to decentralized finance pioneer MakerDAO to propose the submission of bond tokens as collateral for a loan of the DAI stablecoin. The historic proposal called “Security Tokens Refinancing” was submitted to Maker’s governance forums by the international bank on Oct. 1. It would be the first major collaboration between a traditional bank and a DeFi protocol and could open the door for closer integration between the two sectors. Societe Generale (SG) labeled it as the “first experiment at the crossroads between regulated and open source initiatives.”

Federal Reserve Chairman Jerome Powell believes the federal government needs to regulate the cryptocurrency market, but that a blanket ban on Bitcoin (BTC) and other digital assets is not in the cards. Speaking in response to a question from Republican Representative Ted Budd of North Carolina, Powell clarified that a China-style ban on digital assets was not something he’s considering. Rep. Budd’s question came in response to Powell raising doubts about the regulatory status of stablecoins and the central bank’s ongoing deliberations around a so-called “digital dollar.” (In Powell’s view, a central bank digital currency, or CBDC, could perform many of the functions of stablecoins and cryptocurrencies but without the regulatory risk.) “Stablecoins are like money market funds [and] like bank deposits but they’re, to some extent, outside the regulatory perimeter and it’s appropriate they be regulated,” he said. “Same activity, same regulation.”