Crypto Market Highlights February 19, 2022

Cherry Cars Crypto Crypto Fund, DeFi & Metaverse ETF, Cryptocurrency Regulatory Order and many more crypto market news compiled in the last 24 hours.

Crypto Market Highlights: Investment News

• Helium (HNT), a decentralized computing network “powered by a physical blockchain,” recently raised $200 million in Series D funding at a $1.2 billion valuation, Axios reports. Tiger Global and FTX Ventures are among the new investors, she added.
• Cryptocurrency asset manager Hashdex has launched a DeFi exchange-traded fund (ETF) called DEFI11 on Brazil’s B3 exchange.
• CSOP Asset Management has announced the listing of its CSOP Metaverse Concept ETF on the Hong Kong Stock Exchange. The fund follows an active management strategy and invests primarily in US public companies incorporating the Metaverse business.
• Venture capital firm Cherry Ventures has launched a new $30 million ($34 million) crypto fund called Cherry Cars Crypto, which will trade cars for crypto, as the name suggests. They added that the fund includes a Web3-focused team covering investment, research and portfolio support functions.
• Decentralized Futures Exchange (DEX) Perpetual Protocol announced that it has raised $2.68 million through Initial Voucher Offering (IVO) using convertible coupons. According to this, almost half of the available 4 million US dollars was sold out within 30 minutes. A convertible token is a type of NFT that gives protocols greater autonomy in raising capital for future operations without the need to sell Treasury assets.

Crypto Market Highlights: Regulatory and Legal News

The US White House will issue an executive order early next week directing government agencies to investigate various aspects of the digital assets space with the aim of creating a comprehensive regulatory framework, Yahoo! Finance. President Biden’s directive would oblige the Attorney General’s Office, State Department and Treasury Department to explore the possibility of launching a U.S. Federal Reserve-issued digital currency (CBDC), he added.

Spanish crypto exchange Bit2Me has received approval from the Bank of Spain to become “the first service provider for the exchange of virtual currencies for fiat currency and the custody of digital wallets”.

A New York judge has ordered blockchain company Terraform Labs and its CEO Do Kwon to comply with a subpoena issued by the US Securities and Exchange Commission (SEC) investigating Terra’s Mirror Protocol, according to a profile. Terraform and Kwon sued the watchdog, alleging that they violated their own rules and the due process clause of the US Constitution when they served Kwon last September.

According to blockchain research firm Chainalysis, U.S. law enforcement agencies seized nearly $30 million worth of cryptocurrencies in January 2021 in connection with the NetWalker ransomware, according to blockchain research firm Chainalysis. Amounts of almost 720 BTC and 15.7 XMR.

Crypto Market Highlights: Mining News

BIT Mining has abandoned a nearly $10 million project to build a Bitcoin (BTC) mining data center in Kazakhstan, citing unstable local power supplies. They added that the shutdown of data centers, which would mean reaching 100 megawatts of total electrical capacity (MW), would not affect miners deployed in third-party data centers in the country.

Illinois Senate Bill 3643, if approved, would extend the data center tax incentive program to BTC and crypto miners. To be eligible for the program, applicants must have invested at least $250 million, created at least 20 jobs, and achieved carbon neutral status or green building certification, among other things.

Crypto Market Highlights: NFTs News

Dapper Labs’ NBA top-shot platform says it will hold its first auction this month, and 30 NFT collectibles will be offered with real-world perks for owners across 5 NBA seasons, the next All-Star Games and related events are coming. Each unique version of NFT — one for each NBA team — grants top bidders access to the next five annual NBA All-Star events, beginning with the 2023 event in Salt Lake City, along with other benefits, they added.

Technology company LaCollection, which offers museum-accredited NFTs, says it has achieved “seven-figure” sales through a partnership with the British Museum, making digital copies of masterpieces from the museum’s collection available to collectors around the world. The company also raised another $10 million in investments, led by venture capital firm Alven.

Crypto Market Highlights: General News

Cryptocurrency exchange Binance.US has announced the appointment of Tammy Weinrib, former vice president of financial crime compliance at major bank Societe Generale, as chief compliance officer.

Institutional crypto lending and lending platform CLST Markets has announced that it has facilitated a multimillion-dollar stablecoin decentralized loan (USDC) granted by Crypto Financial Services Amber Group. The festive deal will be conducted as the first electronic promissory note for a stablecoin issued on the Algorand blockchain (ALGO).

Blockchain network Crypto.org announced that its native utility token, formerly known as Crypto.org Coin (CRO), has been renamed Cronos (CRO) as it also powers the recently launched Cronos chain. Since its launch in November 2021, Cronos has transacted more than 350,000 unique wallet addresses and now hosts more than 120 different decentralized applications (dapps), they said.

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