Day: February 22, 2023

Federal Judge Rules NBA Top Shot NFTs May Be Considered Unregistered Securities – Bitcoin News

A federal judge, Victor Marrero, ruled on Wednesday that the NBA Top Shot non-fungible tokens (NFTs) issued by Dapper Labs may meet the requirements to be considered an unregistered security. The case arose in 2021 when an NBA Top Shot collector sued Dapper Labs, claiming that the NBA Top Shot NFTs, known as “Moments” issued via the Flow blockchain, are securities. Judge’s Ruling Allows Friel v. Dapper Labs Case to Continue United States District Court judge Victor Marrero agreed with the plaintiffs who filed a lawsuit against Dapper Labs on…

Google Cloud partners with Tezos blockchain to develop Web3 tech

Google’s cloud computing arm has added another string to its Web3 bow, with a new partnership to see it becoming a network validator on the Tezos blockchain. On Feb. 22, Tezos Foundation, a Swiss non-profit foundation supporting the Tezos blockchain announced it has teamed up with Google Cloud which will allow customers of the cloud computing business to deploy Tezos nodes and build Web3 applications on the blockchain. Tezos is a blockchain-based smart contract platform used to power decentralized applications, similar to Ethereum, Cardano and among others. Corporates that have used…

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Polygon blockchain reportedly suffers network outage

Layer-2 scaling solution Polygon (MATIC) has not processed a block in over an hour and a half, leading some to believe that the blockchain network could be suffering from an outage. Latest blocks and transactions on Polygon. Source: Polygonscan According to data from Polygonscan, the blockchain’s last block and transaction was processed at around 8:35 pm UTC on Feb. 22. The network has previously suffered network outages, with the last occurring on Mar. 21-22, 2022 due to maintenance required on one of the network’s three layers. The Polygon team is yet…

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Gary Gensler’s SEC is playing a game, but not the one you think

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On Feb. 13, a federal judge put the Securities and Exchange Commission and the Commodity Futures Trading Commission cases against former FTX CEO Sam Bankman-Fried on hold. You’ll be forgiven if you missed this story — headlines and social media were dominated by the breaking news that the SEC was suing crypto firm Paxos for minting Binance’s stablecoin, Binance USD (BUSD). But we’re not here to debate whether stablecoins are securities. The Howey test has been discussed to death, and while it’s true that few people expect to profit from…