NEAR Protocol’s stablecoin USN, launched in April 2022, is shutting down to “safeguard USN holders” after it exhibited risky characteristics similar to TerraUSD (Mat Di Salvo/Decrypt)

Mat Di Salvo / Decrypt:
European Parliament approves Markets in Crypto Assets bill 28 to 1, which if passed in next vote will limit stablecoin token issuance, regulate mining, and more  —  The Markets in Crypto Assets regulation bill (MiCA) is one step closer to being put into law.

Oliver Knight / CoinDesk:
An independent audit shows the Luna Foundation Guard spent $2.8B in crypto and Terraform Labs spent $613M trying to defend the UST stablecoin in May 2022  —  Terraform Labs founder Do Kwon dismissed similarities with the collapse of FTX.  —  Luna Foundation Guard (LFG) …

Mat Di Salvo / Decrypt:
Coinbase says Coinbase Wallet will no longer support Bitcoin Cash, Ethereum Classic, Ripple XRP, and Stellar due to “low usage”, starting January 2023  —  America’s biggest crypto exchange has scrapped a number of assets from its self-custody mobile app citing waning customer interest.

Andrew Asmakov / Decrypt:
Binance plans to implement a new Proof-of-Reserves protocol developed by Ethereum co-founder Vitalik Buterin after sharing a snapshot of its wallets last week  —  As the FTX collapse highlighted the urgency for more transparency among crypto exchanges, Chanpeng “CZ” Zhao said Binance is working …

Jamie Crawley / CoinDesk:
Binance will stop supporting the world’s second biggest stablecoin USDC and convert users’ USDC, USDP, and TUSD into its own stablecoin BUSD on September 29  —  The action effectively removes the world’s second biggest stablecoin USDC as a tradeable asset on Binance’s platform.

Sander Lutz / Decrypt:
Bluesky previews its Authenticated Transport Protocol, formerly ADX, for large distributed social applications and says a Bluesky social app is “coming soon”  —  The group, formed within Twitter, is building a decentralized protocol that limits corporate and governmental influence on social media platforms.