As the DeFi and crypto space continues to evolve rapidly, staying updated on the latest developments and trends is crucial. This weekly recap offers a succinct yet comprehensive look at the most significant news and trends in the DeFi and cryptocurrency space.
Visa and FV Bank Launch New Debit 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. These cards were announced at Money 20/20 in Las Vegas, enabling seamless spending in stores, online, and at ATMs, with real-time access to funds through linked FV Bank accounts.
Immutable's Response to SEC Notice
Blockchain gaming platform Immutable faces potential SEC enforcement for alleged securities violations involving 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. She argues that the SEC’s approach, lacking clear crypto guidelines, leaves companies like Coinbase and Ripple uncertain about compliance.
Reddit Sells 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.
These events underscore the continuous and dynamic evolution of the DeFi and cryptocurrency industries. From innovations in payment systems to regulatory challenges and financial strategies, companies globally are adapting to these changes, reinforcing their positions in the new digital economy.
