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Crypto Weekly Roundup: SEC Rejects Another ETF, Microstrategy Buys More BTC, Square Renamed, And More

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Last week witnessed another Bitcoin spot ETF getting rejected by the SEC, making it clear that the financial watchdog is not too favorable towards spot ETFs, citing a lack of preventative measures against fraudulent and illicit activities. 

On the other hand, NFTs continue to gain steam, while Jack Dorsey leaves his role at Twitter to focus full-time on Square inc, which underwent a quick renaming. Keep reading to find out more. 

Bitcoin

WisdomTree Investments’ proposal for listing a Bitcoin exchange-traded fund (ETF) was rejected by the US Securities and Exchange Commission (SEC).

Business intelligence and analytics software firm MicroStrategy recently announced that it had purchased a new batch of Bitcoin, the alpha crypto.

Ethereum

Tornado Cash is launching on Arbitrum to allow users to make private transactions on the Layer 2 network. 

Vitalik Buterin has filed a proposal for EIP-4488 to try and reduce gas fees incurred on Layer 2 scaling solutions. 

DeFi

DeFi platform MonoX has reported the loss of $31 million following a DeFi hack where hackers stole wrapped Ether (WETH), Polygon (MATIC), and other cryptocurrencies.

Technology

Hackers targeted the Badger DAO yield vault protocol and stole around $10 million worth of crypto.

Miami will be deploying city-wide air quality monitoring sensors and record aggregated sensor data on the Algorand Blockchain

IDEX has launched its v3 Hybrid Liquidity on Polygon, a Layer 2 scaling solution.

South Korea’s leading Shinhan Bank has announced that it has completed developing a stablecoin proof-of-concept.

Business

Meta, previously Facebook, has announced its decision to allow adverts on cryptocurrency on their platform, reverting their earlier ban of crypto adverts back in 2018.

Square Inc announces company renaming following founder Jack Dorsey’s departure from Twitter.

Regulation

Billionaire investor Charlie Munger has once again spoken out against the current crypto-based markets, comparing it with the unpredictability of the dot-com bubble burst of the 90s. 

With crypto ads being under the microscope in India, the ASCI is in discussions with the government over ad guidelines to ensure customer safety. 

NFT

Sportswear brand Adidas has made its entry into the metaverse, breaking the news to fans by showcasing a teaser of the collaboration involving the Bored Ape Yacht Club.

AMC Theatres has announced limited edition NFTs for advance bookings of “Spider-Man: No Way Home.”

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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