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

Operational Challenges in Tokenized Asset Settlements Highlighted

Ongoing trials of tokenized assets in Hong Kong reveal significant operational challenges, including the need for consistent collateral and payment processes, as well as complexities in handling redemption requests.

user avatarTando Nkube

T7X Aims to Boost Market Liquidity with Native Digital Securities

T7X aims to revolutionize trading for Reg A and Reg D holdings by introducing native digital securities for secondary market trading, enhancing liquidity for investors.

user avatarZainab Kamara

T7X Introduces Innovative Native Issuance Model for Tokenized Stocks

T7X introduces an innovative native issuance model for tokenized stocks, integrating compliance and ownership verification into the token issuance process.

user avatarJacob Williams

Bitbase Unveils Major Brand Upgrade with New Mascot BENIE

Bitbase announces the launch of Bitbase 20, featuring a new brand identity and mascot, BENIE.

user avatarSon Min-ho

Hong Kong Monetary Authority Announces 24/7 Settlement Support

The Hong Kong Monetary Authority announces that EnsembleTX now supports 24/7 real-value settlement and reports successful trials of tokenized Exchange Fund Bills.

user avatarAyman Ben Youssef

Strategy's Financial Moves Include Share Repurchase and Dividend Changes

Strategy repurchased 2,092,035 shares of its preferred stock for $208.2 million and announced a new dividend schedule for shareholders.

user avatarKofi Adjeman

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