Innovations and Convictions: A Full-week Review of the Crypto Space
It’s been a week full of activities in the fintech world. In this review, we consider the top highlights that have impacted market movements in the week.
Mastercard launches P2P crypto network, vanity address system
Mastercard’s Crypto Credential network pilot supports cross-border payments on Bit2Me, Lirium, and Mercado Bitcoin exchanges.
The P2P platform rollout is part of the company’s strategy to use digital assets for growing cross-border payment services.
Cristiano Ronaldo Launches NFT Series with Binance to Celebrate Career Highlights
Cristiano Ronaldo is launching a new NFT collection with Binance, titled “Forever Worldwide: The Road to Saudi Arabia.” This series commemorates his journey from a teenage prodigy in Madeira to his pivotal roles at Manchester United and Real Madrid. The collection marks Ronaldo’s continued foray into Web3, capturing significant moments of his illustrious football career.
Iggy Azalea’s MOTHER Memecoin Surpasses Scandal-Ridden IGGY Token
Australian musician Iggy Azalea’s recently launched memecoin, MOTHER, has surged to a market capitalization of over $28 million, surpassing the IGGY token, which has been linked to fraudulent activities by Sahil Arora.
Azalea distanced herself from Arora for the second consecutive day after he posted a screenshot on Telegram that appeared to show a text message discussing a social media campaign for his new token.
Former FTX Executive Ryan Salame Sentenced to 90 Months
Ryan Salame, former FTX executive, was sentenced to 90 months by Judge Lewis Kaplan of the U.S. District Court for the Southern District of New York. Salame pled guilty to criminal charges last year and will also serve three years of supervised release, paying $6 million in forfeiture and over $5 million in restitution.
U.S. Attorney Damian Williams stated that Salame’s unlawful political influence campaign and unlicensed money transmitting business undermined public trust and financial system integrity.
Researchers Retrieve Lost Password, Recover $3M in Bitcoin from 2013 Wallet
Two researchers assisted a man in recovering the lost password to his cryptocurrency wallet, which held 43.6 BTC worth nearly $2.96 million. Joe Grand, a hardware hacker, and his friend used a previously fixed flaw in the RoboForm password generator to access a wallet containing lost bitcoin, as explained in a video by Grand.
Federal Judge Orders SEC to Pay $1.8 Million in Fees in Debt Box Case
A federal judge has ordered the United States Securities and Exchange Commission (SEC) to pay approximately $1.8 million in attorney and receivership fees in the civil case against Digital Licensing, also known as Debt Box. On May 28, Judge Robert Shelby of the U.S. District Court for the District of Utah signed an order requiring the SEC to pay around $1 million for attorney fees and $750,000 for receiver fees.
PayPal USD Launches on Solana Blockchain
At Consensus 2024, PayPal announced that its stablecoin, PayPal USD (PYUSD), is now available on the Solana blockchain, enhancing speed and reducing costs. PYUSD on Solana offers users more blockchain choices, enhancing flexibility and control.
Argentina Discusses Cryptocurrency Growth with El Salvador
Argentina is consulting with El Salvador, a leader in Bitcoin adoption, to learn about managing digital assets. In a move to boost international cooperation, Argentina’s National Securities Commission shared insights with El Salvador on cryptocurrency growth and regulation.
