NFT Competition Is On 💥
In today's edition: 🌊 OpenSea's royalties, 🔎 SBF to testify?, 🤞 CZ denies reports, and more!
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On the Pod…
Is Gary Gensler on a Mission to Put Crypto Down for Good?
Mike Selig, counsel at Willkie Farr, has plenty to talk about this week, with a slew of actions from Gary Gensler’s SEC putting the future of crypto in the U.S. in question.
From Kraken’s custodial staking settlement to action against BUSD issuer Paxos, the former CFTC law clerk voices concern that coordination among regulators could choke off the industry’s growth. Hear how Selig thinks Gensler’s SEC is working to bring crypto markets “within the regulatory perimeter.”
What’s Poppin’?
by Samyuktha Sriram
OpenSea Eliminates Marketplace Fee, Makes Creator Royalties Optional
OpenSea plans to move to a zero-fee marketplace model as competition from rival platforms like Blur continues to escalate.
Voyager Subpoenas SBF to Testify in Bankruptcy Case
Former FTX CEO Sam Bankman-Fried has been ordered to appear at a remote deposition by Voyager Digital this week.
Binance CEO Says Exchange ‘Pulled Back’ Bids on Bankrupt US Firms
Binance says it will seek permission before it makes any bids on U.S.-based bankrupt companies.
Jump Trading Propped Up Terra’s UST: Report
Jump Trading was the firm that made $1.28 billion from the Terra ecosystem, according to sources familiar with the matter.
In Other News…✍️✍️✍️
Galois Capital, a cryptocurrency hedge fund, is reportedly closing and giving back the remaining funds to its investors after losing half of its assets due to the collapse of the crypto exchange FTX.
Former Director of Engineering at FTX, Nishad Singh, is expected to plead guilty to charges of fraud in connection to the downfall of the crypto exchange.
FTX debtors warned investors to be cautious of unauthorized tokens trying to exploit the situation.
Custodia Bank filed a revised complaint against the Federal Reserve after the latter rejected the bank's request to have a "master account" and become a member of the Federal Reserve System.
Blockchain.com has been trying to sell off assets in a search for capital, including to Coinbase, according to sources and emails seen by Decrypt, though the company denied the report to The Block.
Paul Pierce, a former NBA star, reached a settlement with the SEC for promoting EthereumMax's token offerings without proper disclosures.
A crypto trader made a profit of over $100,000 by purchasing a token shortly before it was listed on Binance, according to Lookonchain.
Today in Crypto Adoption...
The Hong Kong Securities and Futures Commission plans to allow retail investors to trade digital tokens on licensed exchanges with measures in place to ensure investor protection.
The pilot phase for the digital ruble, Russia's central bank digital currency (CBDC), is ready to launch, according to the Bank of Russia's Deputy Governor, Olga Skorobogatova.
The Federal Reserve Bank of San Francisco is seeking software developers to assist in the research and development of a central bank digital currency.
What Do You Meme?
📈 Your Market Update 📉
BTC is up 1.3%, trading at $24,694
ETH is up 2.2%, trading at $1,716
BTC dominance: 40.61%
Crypto market cap: $1.17 trillion
*All data as of today, 5 am ET
Recommended Reads
degentrading on the Asia narrative:
Shame On Washington, DC For Shooting A Messenger Who Warned of Crypto Debacle by Caitlin Long, CEO of Custodia Bank
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