Month: July 2023

Bitcoin ETF would be the ‘seal of approval’ from SEC: Mike Novogratz

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The approval of a spot Bitcoin (BTC) exchange-traded fund (ETF) would equate to a “seal of approval” for Bitcoin from the United States government and its securities regulator, says Mike Novogratz. In a July 12 interview with Bloomberg TV the founder of crypto investment firm Galaxy Digital spoke about the multiple spot Bitcoin ETF filings before the Securities and Exchange Commission (SEC), including one from the $10 trillion asset manager BlackRock. “What I do think is BlackRock, Invesco [and] the group of ETF providers is a real signal that adoption…

Binance Labs Invests $15M in Web3 Gaming Startup Xterio

“The Xterio ecosystem is expanding faster than ever and bridges free-to-play genres with on-chain gaming enhanced by AI capabilities,” said Yi He, co-founder of Binance and head of Binance Labs. “The Xterio core team brings together experienced Web2 professionals with Web3 expertise; we look forward to closely working with them to allow gamers around the world to experience rich on-chain gameplay.” Source

Astar Foundation partners with NTT Digital to foster web3 innovation and drive adoption

Astar Foundation, a smart contract platform for multi-chain solutions, has partnered with NTT Digital, a subsidiary of NTT DoCoMo, one of Japan’s leading telecommunications companies, to advance the innovation and mass adoption of decentralized technologies. Astar Foundation partners with NTT Digital The partnership will primarily focus on two key areas. Firstly, by recognizing the shortage of web3 talents as a barrier to mass adoption, Astar Foundation and NTT Digital will collaborate to support individuals aspiring to pursue careers in the domain. The initiatives will include developing the abilities and skills of…

IRS probes crypto traders using Puerto Rico tax breaks: Report

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Prosecutors from the United States and agents from the Internal Revenue Service (IRS) are reportedly investigating wealthy crypto traders and fund managers suspected of illegally benefiting from Puerto Rico’s tax breaks.  According to a June 12 report from Bloomberg, investigators are currently building civil and criminal cases against a number of hedge fund managers, crypto traders and other wealthy Americans who may have lied about the nature of their residency and key elements of their income in order to take unfair advantage of the tax breaks. Officials from the U.S.…

BIS report claims crypto is centralized and DeFi amplifies risks

The Bank of International Settlements (BIS) recently showed skepticism about the potential role of crypto in the global monetary framework, citing flaws that originate from the incentives of validators rather than the technology itself. In a comprehensive report, the BIS argued that the reality of the crypto ecosystem deviates significantly from the vision of decentralization commonly championed by enthusiasts.  The bank pointed to the 2022 collapse of the FTX crypto exchange as a stark reminder of this dichotomy, stating: “Cryptocurrencies often boast of decentralization, yet we see the rise of new centralized…

What to expect from the first Coinbase-SEC hearing

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A pre-motion hearing set to take place on July 13 between the Securities and Exchange Commission (SEC) and crypto exchange Coinbase should provide a sense of the litigation tone and its potential impacts on the broader crypto industry, legal sources told Cointelegraph.  Previously scheduled for August, the conference is a typical request presented by any party seeking a ruling on a specific matter prior to the trial. In this case, the motion was requested by Coinbase in late June. The exchange wants Judge Katherine Polk Faila to dismiss the complaint filed…

Google Play Joins The Tokenization Bandwagon With Blockchain Gaming And NFT Recognition

According to a recent report by VentureBeat, Google Play has updated its policies to allow blockchain-based digital content, including non-fungible tokens (NFTs) and other tokenized digital assets, in its app store.  The move is in response to the growing interest in NFTs and their unique user experiences. Google has been working with Web3 game makers such as Mythical Games to bring blockchain gaming recognition to the masses. Google Play’s Blockchain And NFT Policy Update Previously, blockchain game companies had difficulty distributing their games, as they often relied on the open…

Coinbase Wallet expands functionality, releases instant messaging feature

Coinbase Wallet, a self-custody cryptocurrency wallet, has revealed a direct messaging feature for users to communicate with each other directly on the platform. Before this addition, the wallet already offered various functionalities such as buying and selling cryptocurrencies, bridging digital assets across different networks, collecting non-fungible tokens (NFTs), and interacting with blockchain-based websites and applications. Sending and receiving messages through Ethereum accounts The messaging functionality was introduced to address various challenges that users may have faced, including issues such as inadvertent crypto transfers to incorrect addresses, false claims of ownership…

US senators reintroduce crypto bill aimed at comprehensive regulation

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United States Sens. Cynthia Lummis and Kirsten Gillibrand will reintroduce legislation aimed at establishing a comprehensive regulatory framework for digital assets. The U.S. lawmakers said they would reintroduce the Responsible Financial Innovation Act to the Senate on July 12 after roughly a year of being tabled in the previous session of Congress. The bipartisan piece of legislation — Lummis is a member of the Republican Party, and Gillibrand is a Democrat — was aimed at clarifying the roles of the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission…

US government moves nearly 10K Bitcoin worth over $300M related to Silk Road seizure

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A cryptocurrency wallet associated with the United States Department of Justice (DOJ) moved approximately 9,825.25 Bitcoin worth around $299 million in a series of transactions on July 12.  It’s unclear at this time whether the transactions, which appear to have ultimately propagated to at least 101 new wallets, were sent to exchange addresses for sale or remain in the custody of the Justice Department. DOJ Bitcoin transactions. Source: Screenshot via Blockchain.com Initially, approximately 9,825 of the Bitcoin (BTC) associated with the Silk Road seizure moved in a pair of transactions sent…