The inception of the metaverse has revolutionized the way we connect, communicate, build and conduct business. Providing new avenues for creators and brands to co-create and reach global audiences, the metaverse has found a home in the fashion, arts and entertainment industries. Success stories in the metaverse include ABBA’s groundbreaking avatar show in London, which achieved an impressive 380,000 ticket…
The United States Securities and Exchange Commission (SEC) — the financial regulator with the final say over allowing a spot cryptocurrency exchange-traded fund (ETF) — may be moving closer to giving the investment vehicle the green light after several years of applications. In June, the world’s largest asset management firm, BlackRock, added its application to the bundle of Bitcoin (BTC) ETF…
Five executives from a Filecoin mining service are facing a lawsuit at the People’s Court of Pingan County in China, over allegations that they pilfered millions of dollars and left investors in ruin. On Aug. 14, local media reported that the court held a public hearing on a case that could potentially set a precedent in China for how crypto…
PayPal’s stablecoin rollout highlights a revived trend in the crypto industry. It’s one that captured Wall Street’s imagination since 2016, promising speedy settlement times and lower backroom overhead. The so-called blockchain revolution: newer, cheaper rails for the financial system. That line of argument stopped making headlines amid a long and cold crypto winter followed by an uptick in meme coins,…
Former FTX executive Ryan Salame will not testify to his involvement in the alleged illegal campaign donation scheme that’s part of the FTX trial, according to a motion filed by U.S. federal prosecutors on August 14. Salame’s attorney indicated that if subpoenaed, Salame would invoke his Fifth Amendment right, a constitutional protection against self-incrimination. Salame’s lawyer did not immediately respond…
Support for crypto among United States politicians and voters appears to be crossing party lines with bipartisanship agreements. Source: https://cointelegraph.com/public/index.php/news/crypto-adoption-political-deadlock-usa
The crypto custodian Prime Trust filed for Chapter 11 bankruptcy in the state of Delaware on Aug. 14 after reporting shortfalls in customer funds. Prime Trust said it’s working with 25,000 to 50,000 creditors and has liabilities of up to $500 million. Although the news of the financial instability of the company broke mid-way through August, members of the crypto…
The London-based digital asset management firm announced that its new investment product was going live on the Euronext Amsterdam stock exchange on Aug. 15, more than a year later than its planned launch in 2022. The Jacobi FT Wilshire Bitcoin ETF is now trading. Source: Euronext Amsterdam. As previously reported by Cointelegraph, the offering was touted as the first spot…
The exchange claims the SEC’s deposition and discovery requests are outside the scope of the regulators lawsuit it filed against Binance. Source: https://cointelegraph.com/public/index.php/news/binance-files-motion-for-protective-order-against-sec
Bitcoin (BTC) will only hit six figures after its 2024 block subsidy halving, not before, Bitcoin investor and author Jesse Myers believes. In an X post on Aug. 15, Myers, who is co-founder of Bitcoin investment firm Onramp, said that the market will only “price in” the halving post factum. Markets not “efficient” with Bitcoin halving Bitcoin’s four-year halving cycles…
