CAR Launch Crypto Initiative, Opensea Databreach, BlockFi for FTX and more.
ENEDEX DeBrief — Week 1, July 2022
Welcome to the 9th iteration of ENEDEX Debrief, where we recap 5 major news in the crypto and blockchain industry in bite size by the end of each week. Let’s get to it!
- Central African Republic president launches crypto initiative following Bitcoin adoption
Faustin-Archange Touadéra, president of the Central African Republic, has announced the government will be backing an initiative centered around developing the country’s blockchain infrastructure.
In a Monday announcement on Twitter, Touadéra said the CAR government would be launching Sango, a crypto initiative proposed following the country’s adoption of Bitcoin (BTC) as legal tender in April. According to Sango’s website, the government intends to launch the program during a July 3 event in which the president, members of his cabinet and industry experts will discuss the physical and digital infrastructure needed for the CAR to enter the crypto space, as well as the legal framework for the country.
Yet another testament that blockchain innovation is borderless
2. OpenSea data breach causes massive leak of users’ email addresses
OpenSea, the world’s largest nonfungible tokens (NFT) marketplace, has issued a warning to customers after it was discovered that an employee of Customer.io, a platform for managing email newsletters and campaigns, leaked the list of OpenSea customers’ emails to an outside party.
The breach has affected all of the users who have given their email to the marketplace, whether it’s for the platform or its newsletter. Following the breach, OpenSea advised customers against potential phishing attempts.
If you have used OpenSea before, please be careful of email phishing scam.
3. BlockFi announces deal with FTX US, including ‘option to acquire’ for $240M
FTX US has inked a deal with BlockFi that will give the crypto derivatives exchange the option to purchase the lending firm.
In a Friday Twitter thread, BlockFi CEO Zac Prince said the crypto lending firm had signed agreements with FTX US for a $400-million revolving credit facility as well as the option to acquire BlockFi “at a variable price of up to $240 million based on performance triggers.” According to the CEO, the deal was reached as part of an effort “to bolster liquidity and protect client funds” at BlockFi.
4. Grayscale launches legal challenge to Bitcoin spot ETF rejection
Grayscale Investments has launched a legal challenge against the United States Securities and Exchange Commission (SEC) after being denied its application to convert its Grayscale Bitcoin Trust (GBTC) into a spot-based Bitcoin (BTC) exchange-traded fund (ETF).
On Wednesday, it announced that its senior legal strategist, former U.S. solicitor general Donald B. Verrilli Jr., had filed a petition for review with the United States Court of Appeals for the District of Columbia Circuit.
The plot thickens.
5. VanEck refiles with SEC for spot Bitcoin ETF
VanEck, one of the first firms in the world to ever file for a Bitcoin (BTC) exchange-traded fund (ETF), is not giving up on its plans to launch a spot Bitcoin ETF in the United States.The firm has refiled an application for a physically-backed Bitcoin ETF with the U.S. Securities and Exchange Commission (SEC).
Filed on June 24, VanEck’s latest Bitcoin ETF application comes months after the SEC rejected its previous spot Bitcoin ETF request on November 12, 2021. The securities regulator based its decision on the ETF on its alleged inability to meet standards to protect investors and the public interest as well as to “prevent fraudulent and manipulative acts and practices.”
Always good to see companies fighting to allow more people to adopt crypto.
Those are 5 notable news on the cryptoverse this week! Anything that we missed?
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