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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

Trump Asserts US Dominance Over Strait of Hormuz Amid Tensions

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US President Donald Trump claims total US control over the Strait of Hormuz amid tensions with Iran, despite a significant drop in maritime traffic.

user avatarAndrew Smith

Crypto Market Faces Layoffs and Shifts in Investment Trends

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The crypto market is currently facing significant layoffs, with firms like Coinbase and FalconX reducing their workforce. Retail investors are increasingly shifting their focus from cryptocurrencies to sports betting platforms and AI stocks.

user avatarZainab Kamara

Bitwise Asset Management Reduces Staff Amid Market Adjustments

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Bitwise Asset Management has reduced its staff by approximately 14 employees, bringing its total workforce to about 155, while maintaining that it is still the largest in the company's history.

user avatarJacob Williams

Arthur Hayes Outlines Yenquake Macro Thesis Impacting Bitcoin

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Arthur Hayes proposes a macro thesis called 'Yenquake', suggesting that supporting the Japanese yen could inject dollar liquidity into global markets, potentially benefiting Bitcoin.

user avatarSon Min-ho

Jupiter Introduces Smart Debt Feature to Boost DeFi Efficiency

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Jupiter has launched a new feature called Smart Debt through its Jupiter Lend platform, allowing users to deploy borrowed assets into DEX liquidity pools to earn trading fees.

user avatarAyman Ben Youssef

Three Indicators for Bitcoin's Return to $100k

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Experts identify three signs that may indicate Bitcoin's potential to reclaim the $100k price level.

user avatarKofi Adjeman

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