Plus: Did Gary Gensler offer any clues about regulation during this interview with The Washington Post?
Today’s Top Crypto News Stories
But first — subscribe to our newsletter here. Subscribe to the CoinMarketRecap podcast on Apple Podcasts and Spotify!
Bitcoin's Struggles Continue 💸
BTC is struggling to find its way back to positive territory, with prices briefly dipping below $40,000
on Tuesday evening. Bulls may face an uphill struggle as they attempt to advance to $43,000 and beyond.
Market jitters have been linked to the debt crisis engulfing the Chinese property developer Evergrande, which is struggling to make interest repayments. The latest.
Stablecoins 'Like Poker Chips' 👀
U.S. Securities and Exchange Commission chairman Gary Gensler has likened stablecoins to "poker chips at the casino" — warning investors will get hurt without stronger oversight. He told The Washington Post: "I think there's just a lot of warning signs and flashing lights that we might have a spill in aisle three, and I'd rather get ahead of it." What he said about BTC.
Tom Brady Interested in Getting Salary in BTC, ETH, SOL 🏈
In a podcast this week, the former Patriots’ quarterback said he’d be interested
in receiving his salary in any of these three coins. He’s not the first NFL player to do so — last December, the Carolina Panthers’ Russel Okung began selling half of his salary for Bitcoin.
Should AMC Accept DOGE? 🍿
The CEO of AMC Theatres has launched a poll — asking whether the cinema chain should also accept Dogecoin as a payment method. The company will allow Bitcoin, Ether, Litecoin and Bitcoin Cash to be used by the end of the year.
At the time of writing, 69%
of respondents said it's a good idea, while 15.6%
warned it would be a waste of effort. Find out more.
Pandemic Thriller Movie to Be Released as NFTs 🎥
Lockdown, the “first NFT feature film in Asia,” will be released
in a series of five NFTs this fall. The film will also release a “hybrid NFT (h-NFT)” that will deal with the issue of intellectual property (IP) rights associated with NFTs.
QANON Gets Into NFTs 🤔
The alleged head of the right-wing conspiracy theory group QANON, Ron Watkins, will be auctioning off
a set of Ethereum-based NFTs in order to fund a project to “save America,” whatever that means.
Scammers Create Fake Apple Site 📱
Scammers have managed to swindle $69,000
after creating a fake version of Apple’s website. The bogus page was set up to try and catch the attention of those hoping to tune in to the launch event for the new iPhone 13.
It featured a Bitcoin giveaway scam instead, with victims told to send crypto to an address in order to get twice as much back. Read our story.
Judge Denies Ripple’s SEC Crypto Trading Disclosure Request ⛔
After a complex history (SEC employees have been barred from trading XRP since 2019), Ripple was curious to know — do SEC employees actually trade in BTC, ETH, or the forbidden XRP? However, this week, a U.S. magistrate judge has said “no,”
to Ripple learning more about the SEC’s trading activity.
WEX Exchange Founder Arrested, $30 Million ETH Moved 💸
After Polish authorities arrested the founder of crypto exchange WEX, Dmitri Vasiliev, $30 million in ETH has begun moving
out of a WEX-associated wallet. However, due to high gas prices, the transaction’s max cost and low set gas price means that the transaction hasn’t moved in 24 hours...
Genesis Digital Assets Raises $431 Million 🤑
The Bitcoin mining firm closed the funding round
this week, led by crypto investment company Paradigm. The New York Digital Investment Group, FRX and Electric Capital also participated.
One River Digital Raises $41 Million in Series A 💵
The crypto-focused asset manager secured
the Series A investment from a round including Goldman Sachs Group and Coinbase.