Crypto Weekly Roundup: Optimism Airdrop, FTX Japan, Binance x The Weeknd, CFTC Sues Gemini, Insider Trading At OpenSea, And More

As Bitcoin’s prices continue to hover below the $30,000 mark, the crypto market has missed its usual sense of hubbub. However, the few noteworthy moments of the week, like the first-ever NFT insider trading case, the launch of FTX Japan, and the Optimism Airdrop, have definitely shaken up the monotony of the market. Keep reading to find out more. 

Bitcoin

Several central banks around the world are worried about decreasing control over cryptocurrencies. CBDC could be the answer to their worries. 

Ethereum 

Optimism’s highly anticipated OP token finally went live with nearly 249,000 wallets of early Optimism and selected Ethereum users eligible to claim the tokens. 

Iagon’s Cardano-Ethereum bridge has gone live. It will help interoperability as users will now be able to bridge their USDC from the Ethereum blockchain to Cardano. 

DeFi

The DeFi platform, PoolTogether, has raised around 471 ETH through an NFT campaign to bolster its legal defense fund. 

The Monetary Authority of Singapore (MAS) has teamed up with Wall Street giant JPMorgan Chase to lead a pilot program exploring the true potential of DeFi. 

Technology

JPMorgan Chase has already piloted the first transaction using blockchain technology for collateral settlement. 

Business

Global crypto derivatives exchange FTX has launched its Japanese arm, FTX Japan, to cater to the trading needs of Japanese investors. 

Binance has signed on to become the official crypto sponsor of The Weeknd’s “After Hours Til Dawn” tour.

Mexican food chain, Chipotle will begin accepting digital currency payments across 3000 outlets in the U.S., thanks to its partnership with Flexa. 

DraftKings CEO has revealed that the company is working towards enabling crypto payments on its platform. 

Binance Labs has closed a $500 million funding round to raise capital that will be invested toward boosting blockchain, Web3, and value-building technologies.

Regulations

Crypto exchange Gemini Trust Co. has been sued by the Commodity Futures Trading Commission (CFTC) over a Bitcoin Futures Case from 2017. 

The Bank of England has announced that it would step in in the instance that a stablecoin issuer was showing signs of collapse that might have repercussions for the UK financial system or significant consequences for businesses and other interests.

NFT

Former OpenSea executive Nathaniel Chastain has been arrested and booked on charges of insider trading of NFTs, wire fraud, and money laundering. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.