Crypto Market Highlights January 29, 2022
Apple’s Metaverse, Crypto Lobbying, WisdomTree Wallet, $80M DeFi Hack and many other crypto market highlights compiled in the last 24 hours.
Crypto Market Highlights: General News
CEO Tim Cook told an analysts’ conference that tech giant Apple is seriously considering going to the supermarket and is investing money into researching its potential. He added that they see a lot of potential in this area and are “investing accordingly” as they already have “over 14,000 suite applications.” [thực tế tăng cường, AR] on the App Store, bringing incredible AR experiences to millions of people today.”
Facebook’s parent company Meta invited a small group of advertising executives to its first meeting on Feb. 17 to present its composite pitch, Business Insider reported. Their unnamed sources said that Meta has started reaching out directly to major advertisers on the Metaverse, promising to help them build a free virtual presence in exchange for a commitment to minimal ad spend.
Asset manager Fidelity Investments has applied for a Metaverse exchange-traded fund (ETF) that aims to track exposure of public companies to a blockchain-based holographic virtual reality network. Their Fidelity Metaverse Index tracks, according to the file, “the activity of a global universe of companies that develop, manufacture, distribute or sell products or services related to the creation and activation of the Metaverse.”
Crypto Market Highlights: Regulatory News
A group of crypto financiers is forming a super-political action committee (PAC) with a goal of spending over $20 million to support congressional candidates ahead of November’s election in the United States. According to Politico, backers include a top executive at crypto exchange FTX, as well as SkyBridge Capital, the hedge fund run by Donald Trump’s former communications chief, Anthony Scaramucci. The group, called GMI PAC, says it has raised $5.3 million in donations that it will use to support those “working to empower consumers and innovators to use next-generation technologies and services build and use in America”.
U.S. President Joe Biden’s administration is preparing to introduce a measure that will task federal agencies with actually regulating digital assets like Bitcoin (BTC) and other cryptocurrencies for national security, Barron’s reported. The forthcoming memorandum of understanding will task government agencies with analyzing digital assets and building a regulatory framework that includes cryptocurrencies, stablecoins, and NFTs.
According to a roadmap reviewed by Russian news agency RBK, the Russian government plans to adopt cryptocurrency regulations by the end of the year. The proposed roadmap introduces know-your-customer (KYC) and anti-money laundering (AML) rules for cryptocurrency platforms, determines their regulatory status, appoints a regulator and establishes regulatory requirements. Penalties for those who don’t play by the rules .
Crypto Market Highlights: News on new products and services
During today’s earnings conference call, CEO Jonathan Steinberg of investment firm WisdomTree announced the company’s new digital wallet, WisdomTree Prime. WisdomTree Prime is “where cryptocurrencies interact with traditional assets. Based on the Responsible DeFi principle and investor-friendly innovation, Prime’s goal is to provide a better financial services experience that stands for choice, transparency and inclusivity.” WisdomTree is targeting a beta launch in Q2 2022, with a goal of a nationwide rollout later this year. The beta test queue is now open.
Flushing Financial Corporation, the parent company of New York-based Flushing Bank, has partnered with crypto firm New York Digital Investment Group (NYDIG) to offer Bitcoin services to its customers. The bank was founded in 1929 and holds more than $8 billion worth of assets as of the end of 2021, according to its Q4 report.
Cryptocurrency Exchange Crypto.com partners with NBA superstar LeBron James and the LeBron James Family Foundation (LJFF) to support educational offerings and build a Web 3-focused workforce. They say it will be a multi-year partnership, but they haven’t specified how long it will last.
Crypto Market Highlights: Security News
The Binance Smart Chain (BSC)-based decentralized finance (DeFi) protocol Qubit Finance was taken down by attackers on Thursday evening (UTC time), the developers later confirmed in a tweet and press release. “Hackers created unlimited xETH to borrow on BSC. The team is currently working with security and network partners on the next steps,” the team said. According to security firm PeckShield, the attacker stole $80 million.
Crypto Market Highlights: Stock Market News
The United States Securities and Exchange Commission (SEC) has issued an order approving the formation of BSTX as a vehicle for trading shares of the BOX Exchange, BSTX announced today. This is a joint venture of BOX Digital Markets and tZERO Group and will be the first fully automated price/time preference exchange for trading securities regulated by both the SEC and the SEC, leveraging existing private blockchain technologies , they added.
VerifyVASP, a decentralized data exchange protocol, has established a travel rules working group in cooperation with 14 operators who have completed the registration process for virtual asset service providers in South Korea. The team will use the message log to respond to a travel rules request by the end of March, the deadline. APROBIT, Beeblock, Cashierest, COIN & COIN, COREDAX, Flata, FLYBIT, FOBLGATE, GOPAX, Hanbitco, Huobi Korea, OkBit, TENNTEN and PROBIT are among the participants of the Travel Rules Working Group.
Crypto Market Highlights: Legal News
Investment app Robinhood has defended itself against claims that it incorrectly blocked investors from buying “meme stocks” during market volatility in 2021, Law360 reported. The judge stated that the investors had not fully pleaded any of the seven counts in their complaint and that they could not change their claims.
The United States Department of Justice (DoJ) has charged the CEO and founder of Project Investors Inc (aka Cryptsy) with stealing $1 million from wallets housing the now-defunct cryptocurrency exchange. The DOJ charged Vernon, 48, with charges including tax evasion, wire fraud, money laundering, computer fraud and destruction of records in a federal investigation.
Crypto Market Highlights: Investment News
Digital asset financial services group HashKey Group has announced the closing of a new $360 million fund for the first time. They added that the newly raised capital will be used to fund entrepreneurs and startups leading the wave of blockchain and digital asset innovation.
Macro-traded hedge fund firm Brevan Howard Asset Management has committed more than $250 million to its newly formed BH Digital business, and the firm’s first fund began trading the firm’s funds this month. The company quotes “a person with knowledge of the matter,” according to Bloomberg. The company plans to open to cash customers later this year.
Astar Network (ASTR), a multi-component smart contract platform on top of Polkadot (DOT), says it has raised $22 million in a strategic round led by Polychain that included Alameda Research and Crypto, among others. com Capital were involved.
The US SEC has denied Fidelity’s Wise Origin Bitcoin Trust application for a spot ETF. They stated that any rule change that would benefit ETF approval would not serve to prevent “fraudulent and manipulative practices and practices,” nor would it necessarily “protect investors, private and public interest.”
After a $5 million seed round in July 2021, Unblocked, also known as Non-Fungible Token Company (NFTCo), announced that it had completed a $10 million seed round to launch the startup to raise the highest level. Tiger Global, Penske Media Corp. (whose media companies include Billboard, Rolling Stone and SXSW), Electric Feel Entertainment (whose management clients include Post Malone and Lil Baby) are among the company’s investors.
Crypto Market Highlights: NFTs News
Anheuser-Busch, the brewer of Bud Light, is launching a non-fungible token (NFT) project called “N3XT Bud Light Collection” which will consist of 12,722 unique tokens. Purchasing NFT gives consumers the opportunity to vote on Bud Light NEXT merchandise, gain access to Bud Light NEXT and partner brand events, etc.
NFT Marketplace OpenSea has reversed their decision to limit NFT quantities to 5 NFT collections with 50 items per collection using their collection business reservation contract. The reason for the limits is that its smart contract was abused and that “more than 80% of the articles created with this tool are plagiarism, fake collections and spam”.
Crypto Market Highlights: DAO News
Decentralized Autonomous Organization (DAO) FriesDAO says it is trying to acquire fast food restaurants “to test whether an open community can successfully run a fast food business in the world, real or not”. Members wishing to participate in the DAO can donate to their treasury and receive member tokens, which also act as stewards for the future development and process of the DAO.
Crypto Market Highlights: Career News
Chainlink Labs has announced Meta’s Diem co-creator, Christian Catalini, as well as…
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