WEB3 🌗 Wednesday Wrap: Trump's Ethereum Wallet Surges, PayPal's Pause, Europe's 1st Bitcoin ETF, $140M Crypto Dispute, SkyBridge's SEC Advocacy
👴 Trump's Ethereum Wallet Skyrockets: $2.8M Crypto, $4.8M NFT Earnings
💰 PayPal Temporarily Halts UK Crypto Purchases Starting Oct 1
🚀 Europe's Pioneering Bitcoin ETF Set to Launch
🚩 $140M Crypto & NFT Dispute Revealed
🛡 SkyBridge Pushes for SEC Approval to Protect Investors
Catch the full scoop below 👇
Welcome to an insightful journey through the latest highlights in the dynamic world of Web3. In this edition, we explore a series of significant developments that have been making waves in the cryptocurrency and blockchain space. Join us as we dive into the details and implications of these groundbreaking developments.
1. Trump's Ethereum Wallet Skyrockets: $2.8M Crypto, $4.8M NFT Earnings
In a surprising financial revelation, former U.S. President Donald Trump's Ethereum wallet has emerged as a holder of over $2.8 million, significantly surpassing the initial estimate of $250,000 to $500,000. Notably, his crypto journey has extended beyond mere holdings, with his NFT licensing endeavors contributing to a substantial $4.8 million in gains. His total crypto-related ventures have brought in around $7.6 million, portraying a marked shift in his engagement with the digital asset space.
Brayden Lindrea
2. PayPal Temporarily Halts UK Crypto Purchases Starting Oct 1
In response to the UK's Financial Conduct Authority (FCA) regulations, PayPal has informed customers of its temporary suspension of cryptocurrency purchases in the UK starting October 1, 2023, aiming to resume in early 2024. The company is committed to compliance, halting sales to align with necessary changes. Although buying crypto will be on hold, users can hold and sell their assets, while details on transfers remain unclear. PayPal assures users of secure holdings without fees. The FCA's new crypto advertising rules also come into effect. Additionally, PayPal's impending launch of PYUSD, a stablecoin pegged to the USD, signals its ongoing innovation.
3. Europe's Pioneering Bitcoin ETF Set to Launch
Europe's pioneer Bitcoin spot ETF debuts on Euronext Amsterdam on August 15, trading as BCOIN. Issuer Jacobi Investment Funds emphasizes BTC mining's eco-social aspect, incorporating a renewable energy certificate (REC). Notably, traditional firms like KPMG are lauding Bitcoin's eco-friendliness. This ETF is accessible in Canada, Brazil, and Europe; Australia awaits approval, while the US may follow suit soon.
4. $140M Crypto & NFT Dispute Revealed
A $140 million legal battle between DeFiance Capital and Teneo has emerged, revolving around assets from Three Arrows Capital estate. Judge Chua Lee Ming's ruling sets the case to be heard in Singapore, despite liquidators' objections. The disagreement centers on assets linked to DeFiance Capital, which claims independence from Three Arrows Capital. The assets include $115 million in cryptocurrencies, NFTs, and 69 SAFE/SAFT agreements, sparking a valuation dispute. Liquidators argue for the assets' inclusion in the 3AC estate, while DeFiance Capital asserts separation. The trial's venue aligns with DeFiance's presence, emphasizing Singapore's role. The case reveals the evolving landscape of cryptocurrency-related legal disputes.
Harold
5. SkyBridge Pushes for SEC Approval to Protect Investors
SkyBridge Capital has sent a letter to the SEC, urging the approval of a Bitcoin spot ETF. In this communication, SkyBridge underscores that granting approval for the ETF aligns with the SEC's investor protection mission.
Conclusion: In this edition, we dive into a series of captivating highlights that are reshaping the landscape of cryptocurrency and blockchain. From a remarkable surge in Trump's Ethereum wallet to the anticipation of Europe's first Bitcoin ETF launch, and even a significant pause in PayPal's UK crypto purchases, the crypto sphere is buzzing with activity. Join us as we uncover the intricacies of a $140 million crypto and NFT dispute, shedding light on the ever-evolving dynamics of this fascinating realm. To top it off, we delve into SkyBridge's bold advocacy for SEC approval to ensure investor safety, highlighting the crucial intersection of regulation and innovation. Stay tuned for an insightful exploration of these pivotal moments shaping the future of Web3.
