Weekly Headlines 2023.4 W3
“#Bitcoin is the most interesting intellectual development on the Internet.” – Julian Assange
Weekly News Report:
News
1. Microsoft Working With Space and Time to Add Real-Time Blockchain Data for Azure Cloud
– The agreement comes seven months after the tech giant led a strategic funding round for the crypto firm.
2. Crypto Exchange Coinbase Receives License to Operate in Bermuda
– Coinbase has obtained a license to offer its services in Bermuda as part of its international expansion efforts, the firm announced in a blog post on Wednesday.
3. Russia Plans to Mine Crypto for Cross-Border Deals, Says Central Bank
– International sanctions have been imposed on the country to exclude it from the U.S. dollar-powered global payment infrastructure.
4. Crypto Exchange ByBit Opens Global HQ in Dubai
– Dubai recently unveiled its licensing requirements for crypto entities.
Institution
1. Abu Dhabi’s Financial Free Zone Proposes Legal Framework for Decentralized Economy
– The proposals target projects built on distributed ledger technology and aim to provide clarity on governance structures and disclosures.
2. Ethereum’s Shanghai Upgrade Spurs Institutional Investment Into Staking
– The largest staking platforms for institutional investors recorded three times more new deposits than last month, early data shows.
3. UAE Securities Regulator to Start Accepting License Applications From Crypto Firms
– The mandatory licensing regime applies to all companies seeking to provide services in the country unless they are already licensed in financial-free zones in the UAE.
4. Societe Generale’s Crypto Division Introduces Euro Stablecoin on Ethereum
– EURCV will be offered to institutional clients as a means of bridging the gap between traditional capital markets and digital assets.
5. EU Parliament Approves Crypto Licensing, Funds Transfer Rules
– Lawmakers in the European Union on Thursday voted 517-38 in favor of a new crypto licensing regime, MiCA, with 18 absentions, making it the first major jurisdiction in the world to introduce a comprehensive crypto law.
6. Hong Kong’s Banks Are Taking Lead on What e-HKD Will Look Like: Source
– At least one bank is leaning towards developing it on a permissioned blockchain.
Market
1. Tether Mints Massive One Billion USDT Stablecoins on Ethereum Extending Its Market Dominance
– Tether CTO Paolo Ardoino called the minting of the new stablecoins as part of replenishing its inventory.
2. Institutions Flock to Ether After Shapella Upgrade
– Open interest in CME futures has risen to the highest level since March 2022, indicating an influx of institutional traders to the crypto market.
3. Ethereum is going to transform investing
– Expect to see tokenized securities proliferate in the years ahead — along with heavy investments in Ethereum staking pools.
4. Radix’s XRD Token Beats Wider Crypto Market With 176% Surge in a Month
– Decentralized finance-focused distributed ledger Radix’s XRD token has more than doubled in the past 30 days, becoming the best-performing top 100 cryptocurrencies during that period.
5. Bitcoin’s Move Below 20-DMA Possible Short-Term Bearish Signal, Analysts Say
– The world’s largest cryptocurrency by market value traded at a 10-day low and slipped below the 20-day moving average.
6. Bitcoin Hovers Near $29.3K After Binance Sell Order, UK Inflation Data
– BTC fell as low as $29,045 earlier Wednesday. ETH dropped below $2,000 for the first time in almost a week.
7. Stablecoins Gain Traction as Inflationary Shield in Latin America With Growth in Europe
– Despite the bear market and the latest banking turbulence, users in Latin America and Europe continue to embrace stablecoins, but in a very different way.
8. ‘Pepe the Frog’ Memecoins Rocket as Crypto Twitter Moves Over Doge Obsession
– A pepe token (PEPE) launched Sunday ran over 21,000% in the past three days, raking in $30M in trading volumes on Uniswap and reaching a market capitalization of as high as $33M on Tuesday morning.
NFT
1. Starbucks Odyssey Brews Smoother Second Serving of NFTs With ‘First Store’ Collection
– Members of the Web3 loyalty program who had two unique stamps in their wallet were able to access a pre-sale before it opened to the rest of the beta group.
2. NFT Marketplaces Sales, Users Drop to Lows Not Seen Since 2021, Dune Data Shows
– According to multiple dashboards compiled by researchers on analytics platform Dune, OpenSea and Blur are experiencing notable losses in both daily users and sales.
3. NFT.NYC Was Calm, but Side Events Stirred Drama
– While the annual conference saw fewer attendees in a chilly NFT winter, the real “magic” – and drama – of the Web3 gathering happened outside the main convention.
4. Nike is Releasing Its First Digital Sneaker Collection on .Swoosh
– The virtual sneaker, called Our Force 1, is a play on the brand’s iconic Air Force 1 design.
DeFi
SEC Lays Its Cards on the Table With Assertion That DeFi Falls Under Securities Rules
– Unless Congress legislates otherwise, U.S. oversight will hold most of the crypto world inside the SEC’s jurisdiction as the agency moves to make its reach increasingly explicit.
Web3
Smurf Happens: Beloved Blue Characters Enter Web3
– Popular animated franchise The Smurfs, known for comics, cartoons and movies, are taking on a new adventure with the release of a new collection of NFTs from the Smurf Society that will expand the reach of the three-apple-tall characters to Web3.
April 22, 2023