Crypto News Roundup: July 16, 2023 đ
Hello and welcome to another edition of Crypto News Roundup, where we bring you the latest and most exciting developments from the world of cryptocurrencies.
In this article, we will cover four major stories that happened this week:
- Ron DeSantis Vows to Ban CBDCs in the US If Elected President
- Cathie Woodâs Ark Invest Sells More Coinbase Shares Worth Over $50 Million đ°
- Spanish National Museum Thyssen to Mint Exclusive Collection of Van Gogh NFTs âď¸
- Entity Representing Binance Customers Seeks Compensation âď¸
Letâs dive right in!
Ron DeSantis Vows to Ban CBDCs in the US If Elected President
Ron DeSantis, the governor of Florida and a potential candidate for the 2024 US presidential election, has made a bold statement against central bank digital currencies (CBDCs) at the Family Leadership Summit on July 14. He said that if he becomes the president, he will ban CBDCs in the US on his first day in office.
DeSantis is known for being a vocal opponent of CBDCs and has even signed a bill in Florida back in May that prohibits the use of federal CBDCs as money. He argued that CBDCs are a threat to the sovereignty of the US dollar and the privacy of citizens. He also claimed that CBDCs are part of a globalist agenda to undermine national currencies and create a digital dictatorship.
DeSantisâ stance on CBDCs is in contrast with the views of some other US officials, such as Jerome Powell, the chair of the Federal Reserve, who said that the Fed is exploring the benefits and risks of issuing a digital dollar. Powell also said that the US does not need to rush to launch a CBDC, as it already has a strong and resilient payment system.
Source: Cointelegraph
Cathie Woodâs Ark Invest Sells More Coinbase Shares Worth Over $50 Million đ°
ARK Invest, the investment management firm led by Bitcoin bull Cathie Wood, has reportedly sold a total of 478,356 Coinbase shares valued at $53 million on July 14. Notably, the sale came after the stock price hit a yearly high of $114.43. The rising stock price is due to Coinbase being listed as a surveillance-sharing partner for several spot bitcoin ETF applicants, including giants BlackRock and Fidelity.
The sale was made across three of ARKâs flagship funds: ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF). The amount sold made up only 0.14% of ARKâs total holdings.
This is not the first time that ARK has taken profits from its Coinbase holdings. The firm also sold some shares in March and April, shortly after Coinbase went public on Nasdaq. However, ARK has also been buying more Coinbase shares during the bear market in May and June, accumulating over $100 million worth of shares.
Coinbase is one of ARKâs top holdings, along with Tesla, Square, Shopify, and Roku. ARK is known for its bullish outlook on disruptive technologies and innovation.
Source: The Block
Spanish National Museum Thyssen to Mint Exclusive Collection of Van Gogh NFTs âď¸
The Thyssen-Bornemisza National Museum, a Spanish national museum, has partnered with the metaverse platform âThe Olyverseâ to mint an exclusive NFT collection featuring masterpieces from Van Gogh. The NFTs, each of which represents an original piece, will reportedly be certified by the Thyssen-Bornemisza National Museum and will be part of a limited series, with only 100 available for purchase in collaboration with TelefĂłnica and its NFT marketplace.
Carlos Grenoir, the CEO of metaverse platform Olyverse, stated,
âBy democratizing access to art through NFTs, we hope to enable individuals to experience Van Goghâs works in a new way. Our metaverse serves as a platform to exhibit and explore these digital masterpieces, offering an immersive and enriching experience that transcends traditional museum boundaries.â
The Olyverse is a decentralized stars club that connects fans and celebrities through NFTs and various metaverse activities. The platform also offers interactions with other famous personalities, such as actors Alvaro Morte, Elsa Pataki, and Kerem BĂźrsin, as well as a digitized Vincent Van Gogh himself.
The museum chose Van Gogh as the first historical artist to be featured in the Olyverse due to his universal recognition and his alignment with the platformâs innovative and disruptive philosophy. The owners of the Van Gogh NFTs will also have the opportunity to display their digital art pieces through blockchain-enabled displays provided by LG.
Source: Decrypt
Entity Representing Binance Customers Seeks Compensation âď¸
Eeon, a mysterious third-party entity claiming to represent Binance customers, has intervened in the lawsuit filed by the United States SEC against crypto exchange Binance. It claims that the SEC and attorneys for Binance have failed to sufficiently represent the interests of the exchangeâs customers.
The lawsuit stems from the SECâs allegations that Binance violated securities laws by offering unregistered securities to US investors. The SEC also sought to restrict Binanceâs access to US funds through a consent order issued on June 17. Binance and the SEC settled the dispute, but Eeon intends to appeal the ruling.
Eeon seeks compensation equivalent to 20% of the daily value of withheld funds per customer from Binance and the US SEC. This approximately comes up to $1000 per day. Eeon has also argued that cryptocurrencies should be deemed commodities due to their predominant use for personal and household purposes rather than commercial purposes.
Eeon accuses Binance of controlling customersâ crypto assets by blocking access and withdrawals without proper notice. It also accuses the SEC of having a conflict of interest and wrongly accusing customers of money laundering. Eeon requests a court order to grant customers access to their frozen assets on Binance platforms.
Source: Cointelegraph
Conclusion
Thatâs all for this weekâs Crypto News Roundup. We hope you enjoyed reading about these fascinating stories and learned something new. If you did, please share this article with your friends and family who might be interested in crypto news.
I would also love to hear your thoughts on these topics. Which one do you think is the most important or interesting? Do you agree or disagree with any of the opinions expressed in this article? Let me know in the comments below!
Thank you for reading and stay tuned for more crypto news next week!
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