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  • 10/4/23: SEC Takes Another Loss 👩🏻‍⚖️🏛️👾

10/4/23: SEC Takes Another Loss 👩🏻‍⚖️🏛️👾

Author

Valko
October 04, 2023

Top News ⌐◪-◪

  • 👩🏻‍⚖️ Judge Torres denies SEC’s motion to appeal Ripple XRP ruling

  • 🏛️ Pro-BTC Congressman Patrick McHenry is temp. House Speaker

  • 👾 Zynga’s 1st crypto game ‘Sugartown’ sees $5M+ in trading volume

SEC Loses Again—Appeal of Landmark Ripple Ruling Rejected - Decrypt

The federal agency will still have the opportunity to appeal the case in its entirety when it concludes next year.

⌐◪-◪ → The SEC loses — again — and crypto twitter goes wild! Seriously though, don’t get too excited. This doesn't mean the SEC "lost its appeal", it just means they can’t appeal the decision until after a trial on remaining issues. Either way, Judge Torres is becoming a legend in crypto.

Crypto-Friendly Congressman McHenry Temporarily Takes Over U.S. House

A staunch advocate for crypto industry regulation, Rep. Patrick McHenry has found himself as a stand-in Speaker of the House as crypto bills head toward the floor.

⌐◪-◪ → While McHenry’s position is temporary, it still feels like a big win for crypto. You may recall him grilling Gensler on whether ETH is a security or a commodity back in April. Last night on 𝕏, Congresman Matt Gaetz spoke about Patrick McHenry replacing Kevin McCarthy - listen here. To stress the importance of this, Speaker of the House is the 3rd most powerful position in the US Government.

The Rise of 'Sugartown': Zynga's $5 Million NFT Success Story (GTA Devs 1st Crypto Game)

This is the story of "Sugartown," a groundbreaking creation by Take-Two Interactive's subsidiary, Zynga.

⌐◪-◪ → As a long-time gamer and NFT collector, I’ve been largey unimpressed with crypto gaming to date. With that said, it feels like we might be turning a corner, with Zynga (the makers of Farmville) gaining traction on their new game Sugartown. This news, combined with Blockchain Capital’s $580M crypto gaming fund, leaves bullish on crypto gaming. For more info on Sugartown, check out this thread.

Peripheral Vision ⌐◪-◪

⛓️ Crypto & DeFi

  • Vitalik shares new blog post about Ethereum’s future

  • Jack Dorsey’s Block releases Bitcoin hardware wallet

  • $220M in BTC was taken off exchanges yesterday

  • Solana allegedly has a higher ‘Nakamoto Coefficient’ than Ethereum

  • OP Labs ‘fault proof’ system goes live as alpha on testnet

  • Starkware, Ethereum layer 2, delays first token unlocks to April 2024

  • Mirror, NFT-powered publishing platform, launches new feature set

  • Scientists turn to DAOs in hopes of making research more transparent

🏦 Wallstreet

  • Blockchain Capital raises $580M fund for crypto gaming during bear

  • ETH futures are finally trading, but investors don’t even want them

  • Hedge fund that lost $65M on FTX says bankruptcy is going well

🏛️ Legal & Regulatory

  • US prosecutors say current laws are enough to charge SBF with fraud

  • Antropic’s $30B valuation could help FTX see 100% recovery

  • CZ declined to pay SBF $40M, so Sam created FTX by himself

  • SEC asks judge to deny Coinbase motion to dismiss lawsuit

  • Robert Kennedy Jr. promises no BTX taxes and a BTC-backed dollar

  • Judge sentences trio to 5 years in prison for crypto mining Ponzi

  • Former Celsius CEO’s criminal trial date set for Sept. 17th, 2024

🌎 Rest of the World

🖼️ NFTs & Metaverse

  • OpenSea Studio launches to help creators deploy custom NFTs

  • Diesel launches Vert, a physical watch with metaverse component

  • Star Atlas unlocks dev tools to help creators access its game system

  • VeeFriends and Greogory’s Coffee partner on Halloween NFTs

  • @Satoshi on Twitter is not actually Satoshi - so don’t be fooled

Specs Review Of The Day ⌐◪-◪

We got a shoutout from the legendary Gemplin, creator of CrypToadz 🐸❤️.

Feels good to be recognized by one of your idols.

If you think we deserve it, click here to give us a shoutout on 𝕏.

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