The DeFi and crypto world continues to evolve rapidly. This week, we explore major developments, including Visa and FV Bank's new card launch, Immutable's response to SEC actions, and Reddit's crypto asset sale.
Visa and FV Bank Debut New Crypto Payment Cards
Visa and FV Bank have announced the launch of new debit and corporate cards enabling users to transact in both USD and cryptocurrencies like Bitcoin and Ethereum. These cards were unveiled at Money 20/20 in Las Vegas and offer real-time access to funds through linked FV Bank accounts, usable at various locations worldwide.
Immutable Responds to SEC Wells Notice Defending IMX Token
Blockchain gaming platform Immutable faces potential SEC enforcement for alleged securities violations related to IMX token sales in 2021. Immutable plans to contest these claims, which industry voices, like SEC Commissioner Hester Peirce, criticize due to the lack of clear crypto guidelines from the SEC.
Reddit Sells Majority of Crypto Portfolio: Bitcoin and Ethereum
Reddit Inc. revealed in a recent SEC filing the sale of most of its cryptocurrency holdings, primarily Bitcoin and Ethereum, netting nearly $6.9 million in Q3 2024. The sale was meant to bolster financial reserves as Reddit prepares for a public listing, following its IPO filing in February 2024.
This week saw numerous significant events in the world of crypto. Companies continue to adapt to the changing landscape with new products and strategies while navigating regulatory challenges.
