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

Fairshake Launches Bipartisan Campaign to Support Pro-Crypto Lawmakers

Fairshake is launching a bipartisan campaign to support 32 incumbent candidates in the House, focusing on those who back the House CLARITY market structure bill, with an initial commitment of $6 million in independent spending.

user avatarLeo van der Veen

Binance Introduces AI-Driven Trading Tools

Binance launches a suite of AI products aimed at enhancing trading experiences for various user levels.

user avatarLi Weicheng

Binance Announces Dividend Reinvestment for Tokenized Stocks

Binance has announced a dividend reinvestment process for holders of its Oracle and Marvell tokenized stocks, where dividends will be reinvested into additional fractions of the same securities.

user avatarAisha Farooq

Cryptocom Enhances Trading with Insilico Terminal Integration

Cryptocom has announced an integration with Insilico Terminal on October 6, allowing users to connect their Cryptocom Exchange accounts directly to Insilico's trading platform.

user avatarLi Weicheng

Binance Pay Launches Mobile Top-Up Promotion to Boost Crypto Spending

Binance Pay has launched a promotion offering eligible users a 20% discount on their first mobile top-up to encourage crypto spending.

user avatarTenzin Dorje

Hyperscale Data Reveals Financial Position on Bitcoin and Cash Reserves

Hyperscale Data disclosed its financial position, revealing it holds approximately $564 million in Bitcoin and cash as of October 4.

user avatarBayarjavkhlan Ganbaatar

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