Come every Saturday, Hodler’s digest Helps keep track of all the important news articles that happened this week. Best (and worst) quotes, recruitment and regulatory highlights, major coins, forecasts and more — a week of Cointelegraph with one link.
Top story of the week
Mastercard, a multinational payment giant, has applied for 15 NFT and Metaverse trademarks and has recently joined the ranks of competitors Visa and American Express, which have taken similar steps.
Notable applications include online marketplaces for digital products, virtual reality events and communities, and MasterCard payment processing in the Metaverse. In addition, the company aims to effectively trademark the “priceless” slogan through tokenized text, audio, and video.
Another filing outlines the intention to acquire the Mastercard brand and name in sponsorship agreements for Metaverse-based sporting events, concerts and festivals.
The creator of the very popular Fortnite game, Epic Games has raised $ 2 billion in a $ 31.5 billion valuation. The round was led by Sony and LEGO Group holding company Kirkubi.
The money was directed to expand Epic Games’ Metaverse plan, and CEO and founder Tim Sweeney said the capital was “a space where players can enjoy with friends, and brands can build creative and immersive experiences. , Creators can build a community. ” And prosper. “
Epic Games is also the developer of one of the most well-known game engines, Unreal Engine, especially though it may not have crypto or NFT links there. The latest iteration, Unreal Engine 5, facilitates the creation of NFT-based Play-to-Earn (P2E) games and provides a powerful signal that enterprises are focusing on this sector.
According to Ripple community attorney James K. Filan, Ripple Labs won a “very big win” this week in a lengthy dispute with the US Securities and Exchange Commission (SEC). The parties have exchanged many blows during the court battle, but Ripple seems confident that the argument against XRP’s security will hold up in court.
Judge Sarah Netburn said Bitcoin and Ether are not securities, important documents under privileges related to a June 2018 speech by William Hinman, former director of corporate finance at the SEC. Denied the SEC’s request to reconsider its shield.
“The SEC is trying to do that in both ways, but the speech was or wasn’t intended to reflect agency policy. It reflects Hinman’s personal view. The SEC is currently unable to deny its position because of the allegations, “Judge Netburn said.
The Brazilian Senate has announced the drafting of a bill that will allow regulation of the local cryptocurrency market. The long-discussed issue will soon end, and the bill will soon be sent for a full vote in the Senate.
Two members, Senator Iraja Abreu and Federal Vice-Member Aureo Ribeiro, are the reporters of the aforementioned proposals in their respective chambers and are drafting the bill.
“By involving the project together, we accelerated the approval of this cryptocurrency milestone,” said Senator Abreu. “In addition to adapting Brazil to international agreements, there is market demand for a safer business environment and the need for criminal classification to avoid fraud.”
Coinbase reportedly suspended crypto payment services via the Unified Payments Interface (UPI) for Indian users earlier this week. It wasn’t an ideal move for crypto exchanges given that it was just launched domestically, but it was said that the main reason behind the decision was local regulators. ..
UPI is a payment portal managed by the National Payments Corporation of India (NPCI), but the exact reason for the suspension is unknown. On Thursday, NPCI issued a statement that it was unaware of the legal status of cryptocurrency exchanges using UPI. According to Aditya Singh, an influential local cryptocurrency, Indian exchanges have faced similar payment service issues since at least 2018.
“We are committed to working with NPCI and other relevant authorities to ensure that local expectations and industry norms are in line,” according to a report from the Indian financial publication Business Standard. I am saying.
This week too Cointelegraph announces French version!!
Winners and losers
Among the largest 100 cryptocurrencies, the top three altcoin winners this week are Kyber Network Crystal v2 (KNC) 13.50%, ApeCoin (Apes) 9.36% and Monero (XMR) At 5.02%.
The top three altcoin losers this week are Mina (Mina) -32.12%, anchor protocol (ANC) -27.81% and Waves (wave) -25.13%.
Be sure to read more about crypto prices Cointelegraph market analysis..
The most memorable quote
“Stablecoin is the perfect Trojan for Bitcoin.”
Paolo AldoinoChief Technology Officer of Bitfinex and Tether
“This is not inflation. This is [the U.S. dollar seeing] Currency devaluation. “
Mark YuscoCEO and Founder of Morgan Creek Capital Management
“It won’t be June, but it’s probably a few months later. There’s no fixed date yet. [for the Ethereum mainnet/Beacon Chain merge]But we are definitely in the final chapter of Ethereum POWs. “
Tim BaikoEthereum developer
“The idea of using such a feature as a means of achieving negative interest rates is sometimes debated in academia, but the World Bank does not introduce the CBDC for this reason.”
Shinichi UchidaManaging Director, Bank of Japan
“If you pay in cash for 100 euros in a supermarket, you don’t need to show your ID card or ID card. You just pay in cash and that’s it. And why should it be different in the crypto sector? I don’t know. We love cash in Germany, but we continue to accept a cash payment limit of € 10,000 across the EU. If you already have the rules for these games, why are we for crypto? Don’t you make the same rules for the game? The normal world, the crypto world. Yes, it needs regulation, but you still have to leave room to breathe. “
Stephen BergerMember of the European Parliament
“Twitter may be extraordinary. Unlock.”
Elon MuskTesla CEO
“Most of Bitcoin’s” mooning “occurred behind the curtain in the good old days when governments and tax authorities were unwise. “
Michelle ReggeHead of crypto tax education at Koinly
“No matter what background or money you have access to, you can access DeFi.”
Yuboru AnFounder and CEO of Parallel Finance
This week’s forecast
Bitcoin prices have fallen this week, trading slightly flat for the most part and repeatedly below $ 40,000. Cointelegraph BTC Price Index.. BTC traded over $ 43,000 and under $ 39,500 within a week.
Former BitMEX CEO Arthur Hayes expects Bitcoin prices to fall in the coming weeks.His reasoning: Central banks have recently made a mission to combat inflation — or at least Make it visible Like they are fighting inflation. Whether they are serious about fighting inflation, they still need to raise interest rates and scale down their quantitative easing programs. According to Hayes, these actions have a negative impact on the “debt-based global economy,” which includes cryptocurrencies and Bitcoin.
“By the end of the second quarter of June this year, I think Bitcoin and Ether have tested these levels. Bitcoin: $ 30,000. Ether: $ 2,500,” Hayes wrote in a blog post.
This week’s FUD
Facebook whistleblower Frances Haugen blamed Meta in a new interview and warned that the data and power-intensive tactics that led to the success of social media platforms could be repeated once again.
Haugen emphasizes that Metaverse gives Metaverse more opportunities to spy on users than before, and the world simply needs to trust that the company does the “right thing” with all user data. bottom.
“They made a very grand promise about how the Metaverse is safe by design,” she said. “But if they aren’t committed to transparency, access, and other means of accountability, we can imagine all the harm currently seen on Facebook being repeated.”
The Wikimedia community supports a proposal to stop the Foundation from accepting cryptocurrency donations.
The Wikimedia Foundation community has voted in favor of a proposal to stop accepting cryptocurrency donations because of the environmental impact of Bitcoin mining practices and the risk of a reputation for accepting digital assets. Wikimedia is a non-profit organization that hosts the popular Wikipedia website.
Anti-cryptocurrency voting was the overwhelming majority, with about 71% of the 326 votes from Wikimedia contributors demanding that the Wikimedia Foundation stop accepting crypto donations.
“Bitcoin and Ethereum are the two most commonly used cryptocurrencies, both of which are proof-of-work that use enormous amounts of energy. […] Current models continue to do tremendous damage to the environment. There are eco-friendly cryptocurrencies, but they are not very widely used, “the proposal read.
Securities regulators in Texas and Alabama have submitted a cease and desist order to the Cyprus-registered Virtual Sand Vegas Casino Club to “stop fraudulent investment schemes related to the Metaverse.”
The company has been accused of illegally funding the sale of NFTs to fund the development of Metaverse’s virtual casinos, especially the 11,111 NFT collection, which hodler’s expected share of future profits from the casino. It offers.
“Respondents have also devised schemes to thwart attempts to regulate gambler NFTs and golden gambler NFTs. […] According to a Texas Securities Commission news release explaining the order, they argue that securities regulations can be easily circumvented by implementing fantastic features or using different terms. It misleads the buyer.
Best coin telegraph function
“I regularly throw grenades into the room, and someone really needs to jump on it.”
“If you’re running a multi-million dollar protocol, it’s unwise to stay anonymous. You need to be visible to suddenly pull the carpet and not run away.”
Since the hacking of Axie Infinity’s Ronin Bridge, the developers behind the game have raised $ 150 million to refund affected users.