As the DeFi and crypto space evolves rapidly, staying informed about the latest developments and trends is crucial. Our weekly recap provides a comprehensive overview of the most significant news and trends.
Visa and FV Bank's New Debit Cards
Visa and FV Bank have introduced new debit and corporate expense cards that allow the use of 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 fund access through linked FV Bank accounts.
Immutable's Response to SEC Claims
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's Crypto Asset Sale
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 showcased several key developments in DeFi and crypto, from market innovations to regulatory challenges, highlighting the importance of staying updated and adapting to the industry's evolution.
