Crypto & Technology: Comprehensive Weekly Digest
Dive into this week’s mind-blowing fusion of crypto breakthroughs and tech marvels that everyone’s talking about
SBF Court Case Resumes as Ex-Girlfriend Testifies
Former Alameda Research CEO, Caroline Ellison, reveals she was directed to commit fraud by her ex-boyfriend, FTX exchange’s founder, Sam Bankman-Fried.
Ellison emerges as the star witness in the ongoing six-week trial against Bankman-Fried. The prosecution claims that Alameda Research, under Ellison’s leadership, misappropriated billions from its sister company, cryptocurrency exchange FTX. Ellison also testified that SBF had ambitions to become the President of The United States,
Cristiano Ronaldo and Binance Unveil CR7 ForeverZone NFT Collection
Recently, football icon Cristiano Ronaldo teamed up with cryptocurrency leader Binance to unveil the CR7 ForeverZone NFT series.
This unique collection introduces 50,000 limited-edition mystery boxes set to enhance fan interactions in the sports and entertainment industries.
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Cathie Wood’s Ark Invest Refiles Bitcoin ETF Application
Cathie Wood’s Ark Invest recently submitted an amended application for a Bitcoin spot exchange-traded fund (ETF).
Filed on October 11, this version highlights more risk warnings linked to the Bitcoin network that might impact the ETF’s price, alongside other minor tweaks.
Gold-Backed Digital Tokens Now an Approved Payment Method Says Zimbabwean Central Bank
Residents and institution in Zimbabwe now have the option to pay or settle domestic transaction using gold-backed digital tokens, according to the central bank. The governor of the bank, John Mangudya, stated that external auditors have been engaged to validate the availability and adequacy of gold to support these tokens , known as ZIG token.
Gold-backed digital tokens aims to provide a stable and transparent store of value by linking the digital assets to physical gold reserves.
Democratic Senators Tell IRS to Speed Up Crypto Tax Reporting Rules
Sen. Elizabeth Warren and other senators have urged the IRS and Treasury Department to quickly implement tax reporting for crypto brokers.
Warren and others expressed concerns that the final regulation might not come into effect until 2026, pointing to the Treasury’s nearly two-year delay in releasing the guidelines.
Grocery Store Giants Trader Joe’s Sues Derivative Crypto Project
US supermarket chain, Trader Joe’s has sued Trader Joe, one of the largest Dex on the Avalanche network.
The Grocery store giants have alleged Federal Trademark infringement after the Exchange had failed to respond to private request to stop the misuse.
Decentralized Finance Yet to Pose ‘Meaningful Risk’ to Stability — EU Regulator
The European Securities and Markets Authority (ESMA) has released a report stating that decentralized finance (DeFi) doesn’t currently pose a significant threat to everall financial stability.
However, they emphasize the importance of continued monitoring as the DeFi space evolves.
