Blockchain Industry Update(Tik-Tok, Ripple)

NFTs are back in the news, China’s Crypto ban and Ethereum is set to replace Bitcoin. Check out how…

::Bitcoin::

• Verifone partnered with BitPay to provide in-store crypto payments. Verifone would introduce crypto payment options to its clients after joining forces with BitPay.
• Tehran Stock Exchange CEO resigns following discovery of Bitcoin miners in basement. Iranian authorities have conducted many raids on crypto miners in abandoned factories, homes, and small businesses, nothing quite as high profile as the country’s largest stock exchange.
• Rari, Telos and Polymath rally as Bitcoin price hits $44K. RGT, POLY and TLOS secure double-digit gains as investor sentiment rises after the Fed says it will not ban cryptocurrencies and Bitcoin briefly reclaims $44,000.
• Bitcoin Depot’s crypto ATMs surpass 5,000 as adoption grows. Bitcoin ATMs are becoming increasingly ubiquitous, especially in North America, offering compelling evidence of growing adoption.
• SEC extends four Bitcoin ETF deadlines by 45 days.
• Grayscale adds Solana and Uniswap to $495M Investment Fund. Grayscale’s latest rebalancing reflects Bitcoin’s falling dominance.
• Futures-based Bitcoin ETF has 75% chance of approval in October. As the SEC “kicks the can” on traditional Bitcoin ETFs, the Bitcoin futures equivalent is gearing up for likely approval, says Bloomberg’s Eric Balchunas.

::Blockchain & Digital Currency::

• Algorand launches virtual machine to increase smart contract capabilities.
• Nakamoto Games Goes Live on TikTok! Nakamoto Games is collaborating with one of the most respected TikTok agencies in the world to grow the reach of the TikTok channel. 5 to 6 million prospective users will be reached through this newly established channel.
• XDEFI CEO wants to disrupt MetaMask’s domination of browser wallets. Emile Dubié, CEO of XDEFI, is building a new browser wallet with Web 3 capabilities. XDEFI currently has nine blockchain integrations.
• Nakamoto Games is launching their highly anticipated testnet. The exclusive beta launch will allow early testers to experience the vast potential of their play-to-earn ecosystem. Lucrative bounties will be available to those who submit the most useful feedback.
• Insured Finance has made further progress towards their Alpha release over the past week. Following last week’s deployment of all smart contracts and The Graph on the Mumbai testnet, they continued to work on setting up test accounts.
• Axie Infinity, one of the most popular blockchain gaming startups, is bridging the nascent gaming world with the market for decentralized finance with the launch of a new decentralized exchange.
• The Swiss financial watchdog FINMA has approved its first crypto custody license, following an application from Swiss bank SEBA for its institutional-grade digital currency custody service.
• Nakamoto Games is set to launch Duck Hunter. Duck Hunter is a dynamic shooting game that will use NAKA Tokens for in-game purchases. NAKA spent on ammunition goes into the prize pools. Prize pools are distributed to winners after each game. Become a beta tester now!
• Federal High Court of Nigeria approves eNaira CBDC rollout. eNaira will continue to circulate alongside its fiat counterpart, promising a faster, cheaper, and more secure option for monetary transactions.

::Crypto Currency::

• Tether scores win in class action case as court dismisses RICO claims. Litigation will expose this case for what it is: a clumsy attempt at a money grab, which recklessly harms the whole cryptocurrency ecosystem, said Tether.
• Federal Reserve Chairman Jerome Powell confirmed during a hearing before the House Financial Services Committee that he has no intention to ban or limit the use of cryptocurrencies. He also commented on the regulation of stablecoins.
• China’s crypto ban may reveal digital yuan CBDC goals. China’s ban on cryptocurrencies causes a mild slump but recovering from this FUD is not new for crypto as China’s motives come under the scanner.
• KuCoin latest crypto exchange to exclude Chinese. Huobi and Gate have also taken steps to remove Chinese.

::Ethereum::

• Nahmii raises $8M, launches solution to boost Ethereum accessibility for institutions. Backers in the latest round include DARMA Partners, Aligned Capital, CMT Digital, the Delta Blockchain Fund and Fourth Revolution Capital.
• Ethereum will replace Bitcoin as the leading crypto network, claims Polygon co-founder. According to Polygon’s co-founder it is only a matter of time before Ethereum overtakes Bitcoin as the dominant layer-1 protocol.
• OMG eyes a new all-time high after unveiling its ‘Boba Network’ layer-2 solution. Since hitting a bottom below $3 on July 20, OMG price has hiked 380% and now targets a new multi-year high.

::NFT::

• Stablecoin launch and NFT integration back COTI’s rise to a new all-time high. COTI price rallied to a new high after a series of partnerships, exchange listings and a pivot toward NFTs lure new investors to the project.
• Ripple launches $250M fund for NFT creators. “We believe NFTs embody the promise of tokenization and represent a tipping point for its embrace by the mainstream,” said Ripple.
• TikTok embraces NFTs with creator-led collection.
• Gary Vaynerchuk hand drawn VeeFriends Doodles sell for $1.26M. The entrepreneur turned social media guru made $1,262,500 from his doodles. The auction took place at Christie’s New York on October 1, 2021.

::Others::

• CFTC hits Kraken with $1.25M in fines over alleged illegal offering. Margined, leveraged, or financed digital asset trading offered to retail U.S. customers must occur on properly registered and regulated exchanges in accordance with all applicable laws and regulations, said CFTC’s acting director of enforcement.
• Cardano’s Alonzo hard fork was a success but real utility could be a while.