Sandbox LAND on Polygon, ETH gain a tax loss and more…

Popular Ethereum-based Metaverse gaming platform The Sandbox has unveiled a bridge that enables users to transfer their virtual NFT LAND and native SAND tokens over to Layer-2 network Polygon (MATIC). While The Sandbox will live on Ethereum for the most part, the platform has emphasized that conducting SAND and LAND transactions on Polygon will result in lower gas fees, faster transaction speeds and greener interactions on the blockchain. The firm stated via Twitter on June 29 that it is now ready to start deploying LAND on Polygon, and users will…

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Warren Buffett-Backed Nubank Now Offers Crypto Trading to 54 Million Customers – Featured Bitcoin News

Warren Buffett-backed Nubank, one of the world’s largest digital banking platforms, is now offering cryptocurrency trading to all of its 54 million customers. Nubank also holds bitcoin on its balance sheet. Nubank’s Crypto Service Now Available to All Customers Nubank, one of the world’s largest digital banking platforms, now offers cryptocurrency trading to all clients, according to its blog post, updated Monday. The bank serves around 54 million customers across Brazil, Mexico, and Colombia. “Nubank Cripto is the solution to buy and sell cryptocurrencies directly through the Nu app,” the…

Grayscale Sues SEC Over Bitcoin ETF Application Rejection

“This is a place where common sense has a really important role to play. You’ve got a situation now in which you have certain kinds of exchange traded funds, one that is focused on bitcoin futures, and the SEC has approved that, the SEC is given it the seal of approval,” he said. “In order to do so it had to make a determination that that giving this approval was consistent with the securities laws, and in particular, that that there wasn’t a sufficient underlying risk of fraud and manipulation.”…

Grayscale launches legal challenge to Bitcoin spot ETF rejection

Grayscale Investments has launched a legal challenge against the Securities and Exchange Commission (SEC) after being denied its application to convert its Grayscale Bitcoin Trust (GBTC) into a spot-based Bitcoin exchange-traded fund (ETF). On June 29, it announced that its Senior Legal Strategist, former U.S. Solicitor General Donald B. Verrilli Jr. had filed a petition for review with the United States Court of Appeals for the District of Columbia Circuit. Verrelli stated that the latest decision shows that the SEC is acting “arbitrarily and capriciously” by “failing to apply consistent…

Ethereum Keeps Sliding Down, Will The Support Line of $1,100 Break?

Ethereum continued on a bearish path as the coin has now found support level at $1,100. Over the last two days the coin surged and touched the $1,200 mark but shortly after that, it witnessed a pullback on the chart. Ethereum’s strong resistance currently stood at $1,300. The technical perspective of the coin has also remained bearish. Over the last 24 hours, ETH lost 9% of its value and invalidated most gains it secured in the past one week. After the bulls could not manage to move past the $1,300…

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Bitcoin clings to $20K as analysts warn of a long, bumpy ride for the foreseeable future

Bullish cryptocurrency traders hoping that the market was on a path higher received a dose of reality on June 29 as the price of Bitcoin (BTC) dipped below $20,000 again during intraday trading.  Data from Cointelegraph Markets Pro and TradingView shows that the top cryptocurrency fell under pressure in the early trading hours on June 29 with bears managing to drop BTC to a daily low of $19,857 before price was bid back above the $20,000 mark. BTC/USDT 1-day chart. Source: TradingView Here’s a look at what several analysts are saying…