Today: SEC Turns The Tables 😩🧠🕹️

Author

Valko
September 01, 2023

Today’s Top Stories ⌐◪-◪

  • 😩 SEC delays decision on all 6 Bitcoin Spot ETFs by 45 days

  • 🧠 OP Labs hires former Google executive as their new COO

  • 🕹️ Yuga Labs’ to beta test new game Legend of Mara this month

SEC Delays Decisions on All Six Spot Bitcoin ETF Applications

The SEC has delayed its decision on whether to approve or deny spot Bitcoin ETFs from all existing applicants, including BlackRock and Fidelity.

⌐◪-◪ → I can’t help but think the SEC is stalling so their friends can buy more Bitcoin before the big announcement. Also, this is a text book example TradFi’s gatekeeping and why we need permissionless systems.

OP Labs hires former Google exec as chief operating officer

Prithvi Subburaj, a former general manager at Google, has been appointed as the chief operating officer of OP Labs.

⌐◪-◪ → The crypto industry needs more seasoned tech execs. This recent hire, in the middle of a bear market, signals legitimacy for the crypto industry to the broader tech industry. It may inspire others to join the crypto revolution.

Otherside: Legends of the Mara Open Beta Launching in September - Decrypt

The Bored Ape Yacht Club creator's Otherside: Legends of the Mara game experience is about to open up, letting players evolve egg-like NFTs.

⌐◪-◪ → I’ve personally “lost the plot” on Yuga Labs and their endless NFT drops. Regardless, this game will be a strong indicator of Yuga’s ability to make games, and their success/failure will affect the entire NFT market.

Other Headlines ⌐◪-◪

Crypto & DeFi

  • Forbes tells the entire world to buy Bitcoin

  • Akash Network adds Nvidia GPUs to decentralized compute market

  • Ripple (XRP) introduces “clawback” feature for “safety”

  • PancakeSwap expands to Coinbase-incubated layer 2, Base

  • FBI warns of infamous Russian malware, Chisel, targeting crypto users

  • Argent and Starknet partner to launch venture studio, Hito Studios

  • Herodotus, blockchain startup, releases “on-chain accumulator”

  • Trust Machine launches new Bitcoin wallet, Leather

  • Aerodrome hits TVL of $17M, becoming Base’s leading protocol

  • Nexo rolls out “Dual Mode” for its crypto credit card

  • MakerDAO approaching major milestone called “Endgame”

  • Researchers build mesh network to mine crypto without internet

  • BitBoy says farewell and admits to substance abuse and affair

  • YouTuber loses $60k in crypto after screen-sharing his seed phrase

Legal & Regulatory

  • SBF’s defense was denied attempt to exclude damning evidence

  • US Courts call Bitcoin and Ethereum commodities

  • Binance head of APAC quits amid regulatory issues

  • FTX’s $175M bankruptcy deal with Genesis Trading bends the rules

  • Cristiano Ronaldo denies being part of alleged crypto scam

  • UK Rule allows crypto exchanges to seize customer funds

Rest of the World

  • OKX (crypto exchange) plans to enter India

  • Hong Kong fund, Hashkey, plans to invest heavily in altcoins

Wall Street

  • Bitwise pulls Bitcoin and Ethereum ETF applications

  • NASDAQ retracts plan to launch a crypto custody service

  • JP Morgan hints at infusing crypto with travel services

NFTs

  • NFTGod recovers stolen funds with the help of Binance

  • Binance Pool launches Ordinals Inscription Service for Bitcoin

  • Adidas launches NFT artist residency program for physical collabs

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