Crypto Weekly Roundup: MetaMask token soon, SEC-Gemini Truce, & More

This week in crypto, Consensys CEO and Ethereum co-founder Joseph Lubin suggested that a MetaMask token could be closer to launch than previously expected. Meanwhile, Gemini and the United States Securities and Exchange Commission (SEC) agree to halt hostilities after agreeing to a settlement over the platform’s Earn program.

Business

Consensys CEO and Ethereum co-founder Joseph Lubin has suggested that a MetaMask token could be closer to launch than previously expected. A MetaMask token could usher in a new phase for the popular self-custodial wallet.

Japanese Bitcoin treasury firm Metaplanet has announced it is setting up a subsidiary in Miami to scale its Bitcoin income and derivatives operations. The wholly-owned US subsidiary will be called Metaplanet Income Corp.

The United States Securities and Exchange Commission (SEC) and Gemini have reached a preliminary settlement over the platform’s Earn program. The settlement suggests a potential shift in regulatory approach under the Trump administration.

Galaxy Digital has purchased $306 million worth of Solana (SOL), sparking speculations of a Solana treasury strategy. The firm bought 1.2 million SOL from multiple exchanges on Sunday.

Web3

Artificial intelligence startup Coral Protocol announced the launch of its flagship project, Coral v1. The company claims its flagship project makes AI collaboration easier than ever before by introducing Remote Agents to empower developers to deploy multi-agent software in minutes.

BTCC, the world’s longest-operating cryptocurrency exchange, released its September Proof-of-Reserves (PoR) report. The report revealed a total reserve ratio of 143% as of September 15, and reaffirms that all major digital assets on the platform remain overcollateralized.

Fasttoken (FTN) has made good on its promise to facilitate fast, secure, and low-cost transactions across a range of domains. Here is a deep dive into the real-world uses of the asset as its third anniversary draws closer.

Fightfi, the entity behind the Web3 combat sport platform Fight.ID has announced an expanded partnership with the Ultimate Fighting Championship (UFC). The partnership will focus on developing blockchain-based fan initiatives by introducing new digital experiences for UFC fans and leveraging Web3 infrastructure to deepen fan participation and interactions.

Security

Canada has seized a record $40 million from cryptocurrency exchange TradeOgre. The seizure is the country’s largest crypto seizure to date, and comes after a year-long probe by the Royal Canadian Mounted Police (RCMP).

Regulation

Senator Elizabeth Warren and fellow Democrats are pressuring the Justice Department to provide clarity on whether cryptocurrency exchange Binance is adhering to its 2023 plea deal over sanctions and money laundering violations.

The United States Securities and Exchange Commission (SEC) has approved generic listing standards to facilitate faster approval of spot crypto ETFs. Under the new standards, ETF applications will not have to be assessed individually.

The US and UK are set to announce a landmark agreement on digital assets, primarily focusing on stablecoins. The agreement comes after high-level talks between senior officials and major industry players from both countries.

Strategy co-founder Michael Saylor, Marathon Digital Holdings CEO Fred Thiel, and other leading industry figures convened on Capitol Hill to push for legislation to create a US strategic Bitcoin reserve.

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