Daily Web3 Headlines You Need To Know

19 October #NFT #Developers #DeFi & Trading #Policy&Law

🖼 NFT

NFT project Azuki launches Physical Backed Token
Anime-inspired nonfungible token (NFT) project Azuki has released a Physical Backed Token (PBT) — an open-source token standard that ties a physical item to a digital token on the Ethereum blockchain. Azuki shared on its Twitter account that the first implementation of the PBT will use the BEAN Chip, or a physical cryptographic chip that self-generates an asymmetric key pair…(Read More)

BIB Meta NFT star card auction launches, and the Web3 ecology of the world’s first centralized exchange is opening
BIB Meta’s ecological development is extremely swift. With the end of the test network activity, BIB Meta NFT star card auction will open at 14:00 (UTC+8) on October 24th. The auction target is 10 three-star S-class star cards, which are divided into three rounds…(Read More)

Ripple: Next Two Weeks Crucial as XLS20 Amendment for Native NFT Support Opens for Voting
Ripple’s vice president of corporate strategy and operations, Emi Yoshikawa, has announced the start of a two-week countdown on XLS 20 Amendment v1.9.2, which would enable native non-fungible tokens (NFTs) on XRP Ledger. At least 80% of validators have to vote in favor of the proposal over two weeks for it to go into effect…(Read More)

🔗 Developers

Turkey taps blockchain for e-Human project, President Erdoğan announced
Turkish President Recep Tayyip Erdoğan unveiled new details about the e-Human project powered by blockchain ahead of Turkey’s national blockchain summit. While it has a sci-fi name, Turkey’s e-Human project acts as a digital service point where Turkish Presidency can share data related to its services and tools related to career, remote education, talent acquisition…(Read More)

Report: India ranks third in the world in terms of Web 3.0 workforce size
According to a new study published by the National Association of Software and Services Companies (NASSCOM), a non-profit organization in India with over 3,000 members, the country currently possesses 11% of the world’s Web 3.0 talent. The figure makes India the world’s third largest regarding its Web 3.0 workforce, employing nearly 75,000 blockchain professionals today. Furthermore, the industry group expects the talent pool to grow by over 120% within the next two years…(Read More)

📈 DeFi & Trading

Younger Investors Are Choosing Crypto
According to a recent study of wealthy Americans by the Bank of America, younger investors are choosing to allocate significantly more of their portfolios to crypto, and are more likely to believe that crypto offers the greatest opportunities for growth. In the over-42 age bracket, 41% of respondents chose domestic equities as having the best opportunities for growth, and only 7% chose cryptocurrencies and digital assets. In the 21–42 age bracket, only 12% chose domestic equities, while 29% chose cryptocurrencies and digital assets…(Read More)

Institutions ‘moving very, very fast’ into Crypto: Coinbase exec
Institutional adoption of digital assets is “moving very, very fast,” and much faster than the rate nascent industries ordinarily develop at, says Coinbase Senior Advisor John D’Agostino. In an Oct. 18 interview with SALT moderated by Anthony Scaramucci, D’Agostino said that new asset classes often take time to develop, as “institutional inertia is a very real thing” and “there’s a lot of switching costs associated with adding new assets” but that this hasn’t been the case with crypto…(Read More)

⚖️ Policy & Law

Celsius Network Reportedly Faces US Federal Investigation
Bankrupt crypto lender, Celsius Network is now facing a federal investigation in the United States due to its alleged operational irregularities, according to a report by Bloomberg on Wednesday. “The number and extent of investigations of the debtors by governmental entities is significant: Celsius is apparently subject to enforcement proceedings or investigations in at least 40 states, in addition to investigations or inquiries involving the federal government,” counsel of the creditors stated in a Tuesday filing…(Read More)

CySEC Chair Warns against Crypto Investment Risks, Endorses MiCA
The rising popularity of cryptocurrencies and the associated risks with such investments have alarmed the Cyprus Securities and Exchange Commission (CySEC). The Cypriot regulator’s Chair, Dr George Theocharides, warned crypto investors on Tuesday against “liquidity risk, volatility risk, cyber-risks, [and] fraud.”…(Read More)

Prosecutors argue ‘insider trading’ claim in the OpenSea case is accurate
United States prosecutors have opposed a motion by a former employee of nonfungible token (NFT) marketplace OpenSea to remove “insider trading” references from his charges. Prosecutors said the phrase accurately describes the crimes the former OpenSea product manager Nathaniel Chastain is accused of in a memo filed on Oct. 14. It was responding to a motion by Chastain to stop referring to the phrase on Oct. 3, according to Law360…(Read More)

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