Daily Web3 Headlines You Need To Know

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

🖼 NFT

Why NFT Artists Shouldn’t Expect ‘Royalties’
After months of silence, the largest non-fungible token exchange, OpenSea, announced it is taking the middle road on “royalties” paid to NFT creators. The move will likely reshape an ongoing debate as to whether these digital assets should automatically pay out “creator fees” when resold (which benefits artists) or nix that standard entirely (which is better for traders). OpenSea’s new “on-chain enforcement” tool is essentially a snippet of code…(Read More)

Solana Token Down Double-Digits as NFT Growth Plummets
As Solana’s Breakpoint event wraps up, so too has the token’s bullish price action. Despite news that Google Cloud would begin running a Solana validator, the token backing the speedy layer-1 blockchain has plummeted double-digits. The so-called Ethereum Killer’s native token, SOL, has dropped nearly 12% in value over the past 24 hours…(Read More)

From NFL to NFTs, Tim Tebow Gets Into the College Game With Solana-Based Platform
Tim Tebow became a celebrity at the University of Florida when he won the Heisman Trophy in 2007 and won two national championships there. Now the former Denver Broncos quarterback is trying to throw a touchdown pass to college athletes with NFTs (non-fungible tokens) on a platform he founded called CAMPUS.io. Tebow, who also played for the New York Jets before spending several years in the baseball minor leagues in the New York Mets organization…(Read More)

🔗 Developers

Credit Crunch Rocks Vietnam’s №2 Developer as Woes Spread
Vietnam’s second-largest listed developer has become the latest property firm faced with liquidity constraints amid a widening regulatory probe and credit crunch. Shares and bonds of No Va Land Investment Group tumbled on Monday after Tuoi Tre newspaper reported the firm is restructuring its business, cutting operational costs and headcount as well as adjusting construction plans in line with the current market situation, citing the company’s chairman. The real estate firm expects the State Bank of Vietnam to work out a plan to assist potential homebuyers and developers, the report added…(Read More)

📈 DeFi / Trading

Crypto Exchange Coinmetro Plans Europe and US Expansion, Raises $7m
Coinmetro, an Estonian-headquartered digital currency exchange, raised EUR 7 million (almost $7 million) during the latest interim funding round from over 100 existing shareholders and three business angels, the company stated Monday. According to the press release, the successfully finished interim funding round occurs before the Series A round, which should start at the beginning of 2023…(Read More)

Gate.io Introduces Own Crypto-Payment Solution, Gate Pay
Gate.io, digital asset services provider, launched a new crypto-based payment solution dubbed Gate Pay on Monday. The new service currently supports 21 cryptocurrency assets, but the exchange wants to expand that number to 130+ in the future. Gate Pay is free-to-use technology for cryptocurrency payments for traders, consumers and merchants…(Read More)

Crypto Blows Up Existing Definitions
Even that catch-all term, crypto, is inadequate since it now contains so many different items. This is acknowledged by some people in crypto who maintain that they are not in crypto at all. You might notice this, especially among dedicated Bitcoiners who insist absolutely that bitcoin is not crypto…(Read More)

⚖️ Policy & Law

Crypto Ponzi Scheme Defrauded $295m in BTC. The SEC Charged Its Creator
The US Securities and Exchange Commission (SEC) has charged the creator and three promoters of Trade Coin Club for defrauding $295 million from more than 100,000 cryptocurrency traders worldwide. The company, identified as a Ponzi scheme, acquired more than 82,000 bitcoin (BTC) from investors…(Read More)

Judge rules LBRY video platform’s token is a security in case brought by the US SEC
A United States District Court ruled in favor of the Securities and Exchange Commission (SEC) Nov. 7 in its case against blockchain-based file-sharing and payment network LBRY. The court granted the SEC’s request for a summary judgment filed May 5. The SEC sued developer LBRY, Inc. in March 2021 — after the agency had brought similar charges against Ripple — claiming that its LBRY Credit token (LBC) was sold as a security under the 1933 Securities Act…(Read More)

Countries ignoring crypto AML rules risk placement on FATF’s ‘grey list’ — Report
Countries failing to adhere to anti-money laundering (AML) guidelines for cryptocurrencies could find themselves added to the Financial Action Task Force’s (FATF’s) “grey list.” According to a Nov. 7 report from Al Jazeera, sources say the global financial watchdog is planning to conduct annual checks to ensure countries are enforcing AML and counter-terrorist financing (CTF) rules on crypto providers. The grey list refers to the list of countries the FATF deems as “Jurisdictions under Increased Monitoring.”…(Read More)

Russia’s Central Bank report examines crypto’s place in the financial system
The Central Bank of Russia (CBR) is looking at ways to integrate crypto assets and blockchain technology into its local financial system amid a pile-on of global financial sanctions. In a Telegram post by the CBR on Nov. 7, the central bank shared a public consultation report titled “Digital Assets in Russian Federation.”…(Read More)

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