DeFi Weekly Recap: From Cards to Leadership Changes

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by Giorgi Kostiuk

2 years ago

Last week was filled with significant developments in the DeFi and crypto space. Here's a comprehensive recap of the week's most important news.

Visa and FV Bank Debut New Debit and Expense Cards

FV Bank and Visa have launched new debit and corporate expense cards, allowing users to spend both USD and cryptocurrencies like Bitcoin and Ethereum at Visa-supported locations worldwide. Announced at Money 20/20 in Las Vegas, these cards enable seamless spending at stores, online, and ATMs, with real-time access to funds through linked FV Bank accounts.

Immutable Responds to SEC Wells Notice

Blockchain gaming platform Immutable faces potential SEC enforcement for alleged securities violations related to its IMX token sales in 2021. Immutable plans to contest the SEC's claims, which have drawn criticism from industry voices, including SEC Commissioner Hester Peirce, who argues that the SEC’s approach lacks clear guidelines, leaving companies uncertain about compliance.

Reddit Sells Majority of Crypto Portfolio

Reddit Inc. revealed in a recent SEC filing that it sold most of its cryptocurrency holdings, primarily Bitcoin and Ethereum, netting nearly $6.9 million in Q3 2024. Reddit stated that the sale aimed to bolster financial reserves, with the asset value deemed "immaterial." This move comes as Reddit prepares for a public listing, following its IPO filing in February 2024.

The past week has seen numerous changes and developments within the cryptocurrency sector, highlighting the rapidly evolving nature of the industry and the importance of staying informed.

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Other news

Jim Cramer Proposes Major Nvidia Stock Buyback

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Jim Cramer suggests Nvidia should quintuple its stock buyback authorization to $500 billion.

user avatarAndrew Smith

Arbitrum DAO Approves Ecosystem Incentive Programs

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The Arbitrum DAO has approved a governance proposal to direct treasury resources towards ecosystem growth through incentive programs.

user avatarJacob Williams

FBI Takes Action Against Hamas Fundraising with Cryptocurrency Seizure

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The FBI has seized approximately $560,000 in cryptocurrency linked to Hamas as part of efforts to disrupt terrorist fundraising operations.

user avatarZainab Kamara

Solana Ecosystem Tokens Outperform Broader Altcoin Market

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Recent performance benchmarks indicate that Solana ecosystem tokens are outpacing the broader altcoin market, highlighting the active internal rotation within the network.

user avatarSon Min-ho

Arbitrum Achieves $814 Million in Daily DEX Volume

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Arbitrum has recorded an impressive $814 million in daily decentralized exchange volume, showcasing strong activity on the Ethereum Layer2 network.

user avatarAyman Ben Youssef

Securitize Enhances Tokenization Framework for Public Equities

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Securitize has enhanced its framework for tokenizing public equities, contributing to the integration of traditional assets into blockchain infrastructure.

user avatarTando Nkube

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