Daily Web3 Headlines You Need To Know
12 October #NFT #Developers #Metaverse #DeFi & Trading #Policy&Law
🖼 NFT
CNN Shutters Vault NFT Marketplace, Prompting Rug Pull Accusations
CNN announced on Monday that it’s shutting down Vault, a non-fungible token (NFT) marketplace highlighting major moments from its history, prompting some community members to accuse the platform of orchestrating a “rug pull.”…(Read More)
OpenSea Aims for an Avalanche of NFT Interest
OpenSea, the largest non-fungible token (NFT) marketplace in terms of trading volume, will now support Avalanche, TechCrunch reported Tuesday. The platform will now allow creators to mint, list and trade NFTs on the layer 1 network…(Read More)
🔗 Developers
DappRadar Says It’s Recalculating Decentraland User Data
Blockchain data provider DappRadar published a blog post on Tuesday outlining how it calculates its data for the number of “active” users interacting with decentralized applications (dapps), including metaverse platform Decentraland. DappRadar said that it tracks the number of Unique Active Wallets (UAW), the number of transactions and the volume of those transactions across different dapps…(Read More)
🌖 Metaverse
Mark Zuckerberg on the Quest Pro, building the metaverse, and more
For one, Facebook is in a very different place than when he rebranded it to Meta. Its user growth is slower than ever and its revenue is declining for the first time. Meta’s stock price has fallen a staggering 60 percent this year. Low-priority projects throughout the company are being canceled, and there’s a hiring freeze in place. Meanwhile, it is losing billions a year building hardware and software for the metaverse, and managers are having trouble convincing even their own employees to use its flagship VR platform, Horizon Worlds…(Read More)
📈 DeFi & Trading
Crypto Investment Product Firm 21Shares Launches Bitcoin ETP in Middle East
Crypto investment product firm 21Shares has launched a physical bitcoin exchange-traded-product (ETP) in the Middle East that is set to be listed on the Nasdaq Dubai. 21Shares has continued to expand globally, and its newly formed parent company recently raised $25 million at a $2 billion valuation. The firm now offers over 46 products listed across 12 exchanges in seven different countries…(Read More)
Solana-Based Decentralized Finance Platform Mango Hit by $100 Million Exploit
Mango, a decentralized finance platform hosted on the Solana blockchain, has been exploited for over $100 million. The exploit was initially reported on Twitter by blockchain auditors OtterSec, who say “the attacker was able to manipulate their Mango collateral.”…(Read More)
Celebrity-Backed Fintech for Teens, Step Receives $300M in Debt Funding
Youth-focused financial technology company Step has raised up to $300 million in debt funding led by Triplepoint Capital and Evolve Bank & Trust. The fresh capital will go toward building out the Step infrastructure and the launch of new products, according to the press release…(Read More)
⚖️ Policy & Law
SEC Probing Bored Ape Creator Yuga Labs Over Unregistered Offerings: Report
The U.S. Securities and Exchange Commission is probing Yuga Labs, the creator of the Bored Ape Yacht Club NFT collection, over whether sales of its digital assets violate federal law, according to a report from Bloomberg, citing an unnamed source close to the matter…(Read More)
In SEC Lawsuit, Grayscale Calls Spot ETF Rejection ‘Arbitrary, Capricious, and Discriminatory’
Grayscale Investments called the the U S. Securities and Exchange Commission’s (SEC) June decision to reject its application to convert its flagship Grayscale Bitcoin Trust (GBTC) into a spot bitcoin exchange traded fund (ETF) “arbitrary, capricious, and discriminatory” in an opening legal brief filed as part of its lawsuit against the regulator…(Read More)
Binance Focuses on Crypto Safety in New MoU with Kazakhstan
Binance, a major cryptocurrency exchange, has signed a second memorandum of understanding (MoU) with Kazakhstan, this time focusing on “the safe development of virtual asset markets” in the Central Asia country…(Read More)
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