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

US Treasury Department Moves to Cut MEXC Global from Financial System

The US Treasury Department has taken action against MEXC Global, a cryptocurrency exchange, to sever its ties with the American financial system due to accusations of facilitating over $16 billion in illicit transactions linked to Iran, North Korea, and Russia.

user avatarLucas Weissmann

Political Fallout from Ueno Bank Crisis in Paraguay

The Ueno Bank crisis has triggered significant political repercussions in Paraguay, including the resignation of President Santiago Peña and potential impeachment proceedings.

user avatarFilippo Romano

Greece Enhances Crypto Tax Transparency Measures

Greece will implement new reporting and documentation requirements for cryptocurrency purchases starting in 2027 to ensure funds come from declared income or lawful sources.

user avatarTomas Novak

Greece Introduces 10% Tax on Crypto Investment Profits

Greece introduces a 10% tax on individual crypto investment gains starting January 1, 2027.

user avatarEmily Carter

Gnosis Pay Implements Enhanced Security Measures Following Breach

Gnosis Pay has implemented enhanced security measures, including 3D Secure for online payments and increased fraud monitoring, following a data breach.

user avatarMaya Lundqvist

Gnosis Pay Reports Data Breach Affecting Customer Information

Gnosis Pay reported a data breach where hackers accessed customer information through its card system, prompting immediate containment measures.

user avatarKaterina Papadopoulou

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