Ethereum

Pepe Coin

Elon Musk

<p>The crypto market concluded another week with eye-catching developments unfolding across the broader industry. While Sony launched its Ethereum L2 marking a monumental stride, Telegram CEO caught the courtroom spotlight. Further, OpenSea also caught the eyes of legal eagles of the U.S. SEC.</p>
<p>Here’s a brief collection of some of the top crypto market headlines for this week, which have echoed a frenzy across the broader industry.</p>
<h2 id="crypto-market-updates-sony-launches-testnet-for-ethereum-l2-telegram-ceo-under-legal-supervision">Crypto Market Updates: Sony Launches Testnet For Ethereum L2, Telegram CEO Under Legal Supervision</h2>
<p><a href="https://coingape.com/sony-stock-price-rallies-as-soneium-ethereum-layer-2-testnet-goes-live/" target="_blank" rel="noopener noreferrer nofollow">Sony Group’s blockchain</a> subsidiary&nbsp;launched the testnet phase for its Ethereum layer 2 solution, Soneium, this week. The testnet, Minato, was streamlined via a partnership between Sony and Web3 company Startale.</p>
<p>Meanwhile, Telegram CEO Pavel Durov encountered legal scrutiny in France. The CEO was detained on charges related to the use of Telegram in illicit activities. Further, after extended detention, Durov was finally released on August 29. However, it’s worth mentioning that the <a href="https://coingape.com/telegram-pavel-durov-released-but-remains-under-judicial-supervision/" target="_blank" rel="noopener noreferrer nofollow">TG CEO currently remains under judicial supervision</a>.</p>
<p>The arrest also saw strong opposition from leading prominencies, such as <a href="https://coingape.com/free-pavel-durov-elon-musk-rfk-jr-other-celebrities-demand-release-of-telegram-ceo/" target="_blank" rel="noopener noreferrer nofollow">Elon Musk and RFK Jr</a>, among many others. Simultaneously, the TON blockchain witnessed outage for nearly six hours this week, sparking concerns among investors.</p>
<h2 id="opensea-gets-wells-notice">OpenSea Gets Wells Notice</h2>
<p>Meanwhile, NFT marketplace<a href="https://coingape.com/opensea-receives-wells-notice-from-us-sec/" target="_blank" rel="noopener noreferrer nofollow"> OpenSea received a wells notice</a> from the U.S. SEC this week. CoinGape Media reported that the SEC’s crackdown comes as the regulatory authority believes that digital collectibles traded on the platform are securities.</p>
<p>In light of this event, <a href="https://coingape.com/ripple-clo-highlights-why-us-sec-might-lose-if-it-sues-opensea/" target="_blank" rel="noopener noreferrer nofollow">Ripple CLO Stuart Alderoty</a> suggested that the SEC might lose another lawsuit, citing historical data. The lawsuit itself has sparked significant discussions across the global crypto community.</p>
<p>Also, it’s worth noting that the lawsuit emerged in tandem with <a href="https://coingape.com/donald-trump-drops-series-4-nft-collection-ahead-of-us-elections/" target="_blank" rel="noopener noreferrer nofollow">Donald Trump’s launch</a> of his series 4 NFT collection. This event has garnered additional attention on the matter.</p>
<h2 id="other-news-from-the-broader-crypto-market">Other News From The Broader Crypto Market</h2>
<p>In the interim, some other key events unfolded across the crypto sector this week, substantially impacting market sentiments. <a href="https://coingape.com/kraken-adds-shiba-inu-pepe-wif-as-future-collateral-assets-prices-to-rally/" target="_blank" rel="noopener noreferrer nofollow">Kraken launched futures trading</a> for Shiba Inu (SHIB), Pepe Coin (PEPE), and dogwifhat (WIF).</p>
<p>On the other hand, the broader market brimmed with optimism over Bitcoin and Altcoins’ future price movements as the U.S. PCE Inflation data came in lower than expected. Notably, the <a href="https://coingape.com/bitcoin-altcoins-to-rally-as-us-pce-inflation-comes-in-at-2-5/" target="_blank" rel="noopener noreferrer nofollow">U.S. PCE Inflation</a> came in at 2.5% for July, unchanged from the previous month.</p>
<p>Also, it’s worth mentioning that an <a href="https://coingape.com/xrp-documentary-set-for-release-on-amazon-and-apple-tv/" target="_blank" rel="noopener noreferrer nofollow">XRP documentary</a> is set to release on Amazon and Apple TV in November. Moreover, Ethereum co-founder <a href="https://coingape.com/vitalik-buterin-denies-claims-of-selling-eth-as-holding-declines/" target="_blank" rel="noopener noreferrer nofollow">Vitalik Buterin denied claims</a> of selling any ETH proceeds despite his holdings being on a decline.</p>
<p>The post <a href="https://coingape.com/crypto-market-this-week-sony-telegram-ceo-opensea-seize-attention/" rel="noopener noreferrer nofollow">Crypto Market This Week: Sony, Telegram CEO &amp; OpenSea Seize Attention</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.</p>

Crypto Market This Week: Sony, Telegram CEO & OpenSea Seize Attention

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