This Week on Crypto Twitter: Bankman-Fried Roughs it in Brooklyn Jail
Most leading cryptocurrencies experienced slight growth in value over the past week, making it a constructive period for the industry. Visa has made a significant move by supporting USDC payments on Solana, while the London Stock Exchange Group (LSEG) announced its utilization of blockchain technology for a digital exchange that tokenizes traditional financial assets. These developments demonstrate the growing adoption of cryptocurrencies.
In terms of leadership, global organizations such as the European Central Bank (ECB), the International Monetary Fund (IMF), and the Financial Stability Board (FSB) are responding to the increased adoption of crypto. This shows a recognition of the potential and importance of digital currencies.
Visa’s head of crypto, Cuy Sheffield, highlighted the company’s new crypto offerings and its pilot programs with Worldpay and Nuvei. These initiatives aim to harness the power of cryptocurrencies in the payment industry.
Metamask, a software crypto wallet provider, announced that it now facilitates crypto-to-fiat withdrawals. This development makes it easier for users to convert their cryptocurrency holdings into traditional fiat currencies.
Kevin Owocki, the co-founder of open-source funding platform Gitcoin, made a return after a brief absence. He expressed his excitement about Gitcoin’s progress and the community’s involvement in shaping the platform’s roadmap.
Crypto asset manager Grayscale received a positive response in its ongoing effort to get a Bitcoin spot ETF approved. A judge for the federal appeals court ruled that the Securities and Exchange Commission (SEC) must review its denial of Grayscale’s spot Bitcoin ETF application, as the regulator failed to provide a coherent explanation for its decision.
Circle, the company behind the USDC stablecoin, has plans for further adoption of its digital currency. CEO Jeremy Allaire emphasized the company’s dedication to expanding the use cases for USDC.
Vitalik Buterin, the inventor and co-founder of Ethereum, co-authored a paper on “privacy pools.” These pools function similarly to privacy mixers but adhere to global regulations. This approach aims to address privacy concerns while ensuring compliance with legal frameworks.
Southeast Asia’s leading super app, Grab, integrated cryptocurrency capabilities, offering its users a convenient way to engage with digital assets.
In a surprising turn of events, Sam Bankman-Fried, the founder of FTX, found himself outside of his comfort zone as he served time in Brooklyn’s Metropolitan Detention Center. This unexpected situation has sparked discussions and speculation within the crypto community.
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