Bankman-Frieds Experience in Brooklyn Jail: Highlights from Crypto Twitter this Week

Bankman-Frieds Experience in Brooklyn Jail: Highlights from Crypto Twitter this Week


Visa Supports USDC Payments on Solana

Leading digital currencies experienced slight growth in value in the previous week, signaling a positive week for the industry. Notably, Visa announced its support for USDC payments on Solana (SOL) while the London Stock Exchange Group (LSEG) revealed its intends to utilize blockchain technology for a digital exchange selling tokenized traditional financial assets.

Visa’s head of cryptocurrency, Cuy Sheffield, shared details about the company’s new cryptocurrency offerings and pilot programs with Worldpay and Nuvei. In addition, worldwide organizations such as the European Monetary Authority (ECB), the International Monetary Fund (IMF), and the Financial Stability Board (FSB) continued responding to the increasing adoption of crypto.

Metamask Enables Crypto-to-Fiat Withdrawals

Metamask, a software cryptocurrency wallet provider, made headlines with its notice that it now facilitates crypto-to-fiat withdrawals. Furthermore, Kevin Owocki, co- founder of open-source funding platform Gitcoin, announced his return to the company, emphasizing his role as a network catalyst in synthesizing information and shaping Gitcoin’s roadmap together.

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Grayscale Gains Advantage in Bitcoin (BTC) ETF Approval Battle

According to ETF expert James Seyffart, cryptocurrency asset manager Grayscale has gained an advantage over the Securities and Exchange Commission (SEC) in its pursuit of a Bitcoin (BTC) spot ETF approval. A judge for the federal appeals court ordered a review of the SEC’s denial of Grayscale’s application, citing a lack of coherent explanation.

Other Key Developments

Circle, the company behind USDC, has plans for further adoption, while Ethereum (ETH) inventor Vitalik Buterin co-authored a paper on “privacy pools” that complies with worldwide regulations. Southeast Asia’s super application Grab integrated digital currency, and reports suggest that Sam Bankman-Fried, founder of FTX, is facing challenges during his time in the Metropolitan Detention Centre.

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Hot Take

The cryptocurrency industry experienced positive developments this coming week, with major players like Visa and Grayscale making whole lot of moves. The support for USDC payments on Solana (SOL) and the  capacity approval of a Bitcoin (BTC) spot ETF showcase the growing acceptance of digital currencies in traditional finance. It is clear that cryptocurrency is becoming increasingly mainstream, with more organizations and individuals embracing its probability. Nonetheless, the industry still faces challenges, as seen in the legal battles and regulatory scrutiny. Overall, future of the cryptocurrency looks promising, but it will require continued innovation and collaboration to overcome obstacles and accomplish widespread adoption.

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Author – Contributor at | Website

Demian Crypter emerges as a true luminary in the cosmos of crypto analysis, research, and editorial prowess. With the precision of a watchmaker, Demian navigates the intricate mechanics of digital currencies, resonating harmoniously with curious minds across the spectrum. His innate ability to decode the most complex enigmas within the crypto tapestry seamlessly intertwines with his editorial artistry, transforming complexity into an eloquent symphony of understanding.

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