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Crypto Weekly Roundup: First BTC ETF, Ripple-Nelnet, NFT Marketplaces, And More

Crypto Weekly Roundup: First BTC ETF, Ripple-Nelnet, NFT Marketplaces, And More

The SEC approving the first-ever Bitcoin ETF could indicate an easing of the commission’s stance towards cryptocurrency. Let’s find out more about the approval and everything else that went down in the crypto and blockchain industry this week. 

Bitcoin

The US Securities and Exchange Commission (SEC) has given its approval to the first-ever Bitcoin ETF filed by ProShares, an American provider of specialized exchange-traded products (ETPs).

With the excitement around the impending launch of Bitcoin ETFs, MicroStrategy Inc. has seen the value of its Bitcoin investment double to $6.7 billion, becoming one of the biggest beneficiaries of the news of the launch. 

Ethereum

Speaking during an interview with CNBC Make It, billionaire investor Mark Cuban talked about the crypto market, saying that while the market has seen considerable growth this year, he believes that not all digital assets and cryptocurrencies are equal. 

DeFi

Yearn Finance goes multichain with Fantom Blockchain integration to expand in the DeFi space. 

Decentralized exchange Uniswap Labs has hired Hari Sevugan, former senior spokesperson for Barack Obama, to help navigate the stormy waters of crypto regulations.

Business

Ripple has announced its partnership with Nelnet Renewable Energy, an arm of the Lincoln-based financial services company Nelnet, to focus on reducing the carbon impact of crypto to the environment.

Celsius Network has raised a new round of funding for $400 million, with the round led by WestCap and Caisse de dépôt et placement du Québec (CDPQ).

Altcoins

The Polkadot community approved a proposal for its first parachain auctions, as a significant step towards multichain interoperability.

Technology

Ripple and the open-source PayString protocol have announced that it is joining the Digital Pound Foundation, a non-profit organization that’s helping develop and strategize the implementation of a digital Pound for the United Kingdom.

Financial technology firm Stripe, a leading payments solutions provider in the US as well as other regions, is now re-exploring blockchain integration with its services.

Regulation

Tether, the stablecoin issuer and blockchain technology firm behind $USDT, has been issued an order by the Commodity Futures Trading Commission (CFTC) to pay $41 million in civil monetary penalties.

Russian President Vladimir Putin spoke on the subject of cryptocurrencies at the Russian Energy Week event this week, by responding to questions by CNBC regarding the feasibility of using crypto as an alternative to the dollar. 

NFT

Crypto derivatives exchange FTX has officially launched its Solana-based NFT marketplace, catering strictly to US clients. 

US crypto exchange Coinbase announced its plans on Tuesday to launch a marketplace that would let users mint, collect, and trade NFTs 

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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