Source: iStock/pressureUA Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Metaverse news
Tech giant Apple is looking seriously into the metaverse and it is putting money into exploring its potential, CEO Tim Cook said during an analysts’ earnings call. He added that they see a lot of potential in the space and are “investing accordingly” as they already have “over 14,000 [augmented reality, AR] kit apps in the App Store, which provide incredible AR experiences for millions of people today.”
Facebook parent Meta has invited a small group of ad execs to its first meeting on February 17 to lay out its metaverse pitch, Business Insider reported . Their unnamed sources said Meta has already begun directly pitching big advertisers on the metaverse, promising to help them establish a virtual presence for free in exchange for a minimum ad spend commitment.
Asset manager Fidelity Investments filed an application for a Metaverse exchange-traded fund ( ETF ), aiming to track public companies with exposure to the blockchain-based network of three-dimensional, virtual realities. Their Fidelity Metaverse Index tracks “the performance of a global universe of companies that develop, manufacture, distribute, or sell products or services related to establishing and enabling the Metaverse,” according to the filing.
Regulation news
A group of crypto financiers is launching a super political action committee (PAC) that aims to spend more than USD 20m to support congressional candidates ahead of the November US elections. According to Politico, the backers include a top executive at crypto exchange FTX , as well as SkyBridge Capital , the hedge fund led by former Donald Trump communications director Anthony Scaramucci. The group, dubbed GMI PAC , said it has already attracted USD 5.3m in contributions that it will use to back those “who work to give consumers and innovators the opportunity to build and use next-generation technologies and services here in America.”
The US President Joe Biden administration is preparing to release an executive action that will task federal agencies with regulating digital assets such as bitcoin (BTC) and other cryptoassets as a matter of national security, Barron’s reported . The upcoming memorandum would task parts of the government with analyzing digital assets and assembling a regulatory framework that covers cryptos, stablecoins, and NFTs.
The Russian government plans to have regulations for cryptoassets in place by the end of the year, according to a road map reviewed by the Russian news agency RBK. The roadmap suggests introducing know-your-customer (KYC) and anti-money laundering (AML) rules for crypto platforms, defining their regulatory status, mandating a supervisory body, and establishing penalties for those who don’t play by the rules.
Adoption news
On this morning’s earnings call , investment company WisdomTree ‘s CEO Jonathan Steinberg announced the firm’s new digital wallet, WisdomTree Prime . WisdomTree Prime is “a place where crypto interacts with traditional assets. Building on the tenets of “Responsible DeFi,” and investor-friendly innovation, the goal of Prime is to offer a better financial services experience, embodying choice, transparency, and inclusivity,” they said. WisdomTree is targeting a beta launch in Q2 2022, with the goal of a national rollout later in the year. The beta testing waitlist is now open.
Flushing Financial Corporation , the parent company behind New York-based Flushing Bank , partnered with crypto firm New York Digital Investment Group (NYDIG) to offer bitcoin services to its customers. The bank was founded in 1929 and according to its Q4 report it held more than USD 8bn worth of assets at the end of 2021.
Crypto exchange Crypto.com is partnering with NBA superstar LeBron James and the LeBron James Family Foundation (LJFF) to support educational and workforce development opportunities focused on Web 3. While they said that it would be a multi-year partnership, they did not elaborate on how long it would last.
Security news
Binance Smart Chain ( BSC )-based decentralized finance ( DeFi ) protocol Qubit Finance was exploited by attackers on Thursday evening (UTC time), developers confirmed in a tweet and a subsequent report . “The hacker minted unlimited xETH to borrow on BSC. The team is currently working with security and network partners on next steps,” the team said. Per security firm PeckShield , the attacker stole USD 80m.
Exchanges news
The US Securities and Exchange Commission (SEC) issued an order approving the creation of BSTX as an equity trading facility of BOX Exchange , BSTX said today. It is a joint venture of […]
source Apple’s Metaverse, Crypto Lobbying, WisdomTree’s Wallet, USD 80M DeFi Hack + More News
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