Daily Web3 Headlines You Need To Know

10 November #NFT #Developers #DeFi&Trading #Policy&Law

Bitcoin Hits 2-Year Low (Source: Reuters)

🖼 NFT

Lionel Messi takes stake in NFT fantasy soccer game Sorare
Soccer star Lionel Messi is joining Sorare, the French nonfungible token trading game, as an investor and brand ambassador. The Argentinian, who plays as a forward for French club Paris Saint-Germain, will help Sorare set new standards in how fans connect with clubs and players, the company said in a statement Wednesday. They’ll also work together to create new content and fan experiences, Sorare added…(Read More)

🔗 Developers

MachineFi Wants to Connect the World to Web3 Through W3bstream
MachineFi Lab is releasing a new product, W3bstream, which aims to help the traditional world integrate blockchain technology. According to the press release, W3bstream is a blockchain-agnostic infrastructure tool aiming to disrupt the machine economy. It provides cutting-edge middleware that reduces development timelines and costs by half for builders, Web2 businesses, and smart device makers, allowing traditional businesses to integrate blockchains efficiently and spin up asset tracking, product tokenization, and verifiable transparency processes at the same time…(Read More)

Lease Packet Launches Managed Blockchain Node Hosting for WEB3 Developers
LeasePacket, a renowned server management organization, has announced a launch of an in-house Blockchain Node Engine. LeasePacket currently offers powerful web hosting high-end technical services, including data encryption, bug fixing, server migration, secure payments, and 24x7 monitoring of any hosting plans clients choose…(Read More)

NCSoft provides $15 million to Web3 developer Mysten in new partnership
Game developer NCSoft has announced a partnership with Web3 developer Mysten Labs. With the partnership, NCSoft has invested $15 million into Mysten, and the two companies will “explore future collaborations to create digital entertainment experiences.”…(Read More)

Medala Simplifies Web3 for Game Developers and Players
Medala, a new Web3 project that aims to simplify play-&-earn integrations for mobile game developers, today announced its participation in the Hyper Games Summit on November 14–15, 2022. This will be the first time the project opens applications to its Founding Partner Program, which provides development grants, consulting, and other incentives for game studios to build on its platform…(Read More)

📈 DeFi / Trading

Binance Pulls Out of FTX Acquisition, Crypto Chaos Ensues
FTX’s woes continued on Wednesday as Binance confirmed that they have cancelled the proposed acquisition of their beleaguered rival. In a statement released by Binance, the world’s largest crypto exchange said: “As a result of corporate due diligence, as well as the latest news reports regarding mishandled customer funds and alleged U.S. agency investigations. we have decided that we will not pursue the potential acquisition of FTX.com.”…(Read More)

Bitcoin Hits 2-Year Low Below $16K After Binance Backs Out of FTX Deal
Bitcoin (BTC) dropped to its lowest level in two years on Wednesday as crypto traders processed the news that Binance exchange retreated from an earlier plan to buy its once-mighty but suddenly ailing rival FTX. The CoinDesk Bitcoin Price Index fell to $15,625, the lowest since November 2020, after Binance said that, after conducting due diligence on FTX, it would not go through with the deal…(Read More)

Galaxy Digital Cuts Down Exposure to FTX to 38%
Galaxy Digital, a digital asset financial services firm, says it has started the process of withdrawing $47.5 million from its $76.8 million exposure in cash and digital assets to the embattled cryptocurrency exchange FTX. This figure represents 62% of its holding in FTX and therefore means that it is reducing its holding to 38%…(Read More)

UBS Offers Bond Traded on Traditional and Blockchain Exchanges
UBS AG (NYSE:UBS), a Swiss financial company headquartered in Zurich, priced the first digital bond in the history of banking institutions that will be settled both on a blockchain-based and traditional exchange. It will be dual-listed at the SIX Swiss Exchange (SIX) and SIX Digital Exchange (SDX)…(Read More)

Binance Is Strongly Leaning Toward Scrapping FTX Rescue Takeover After First Glance at Books: Source
Cryptocurrency exchange giant Binance is highly unlikely to go through with its proposed acquisition of struggling rival FTX after less than a day of reviewing the company, according to a person familiar with the matter. Binance’s nonbinding letter of intent for the takeover — announced Tuesday as FTX’s financial position appeared to be spiraling out of control — hinged on Binance performing due diligence…(Read More)

Web3 messaging infrastructure Notifi raises $10M seed round co-led by Hashed, Race Capital
Notifi, a communication infrastructure platform for web3, said Tuesday it has raised $10 million in an oversubscribed seed funding co-led by previous backers Hashed and Race Capital. Other investors include Struck Capital, HRT Capital, Wintermute, and Superscrypt founded by Temasek, bringing its total funding to $12.5 million…(Read More)

⚖️ Policy & Law

Germany’s BaFin Orders Coinbase to Improve ‘Organizational Deficiencies’
Germany’s financial market regulator ordered the local unit of Coinbase to ensure “proper business organization” following deficiencies in an annual audit of the crypto firm’s financial statements. Announced on Tuesday, the Federal Financial Supervisory Authority (BaFin) specified that Coinbase’s German entity violates the standards set by the German Banking Act…(Read More)

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