Crypto ads face stricter 🏴, Ankr–Microsoft partnership 🫶, Integrating MetaMask Institutional ✅
Daily Crypto, Blockchain & Web3 Update 2023-06-08
CRYPTOCURRENCY
Crypto ads face stricter rules, referral bonus ban by UK FCA (2 min read)
In a June 8 announcement, the United Kingdom’s Financial Conduct Authority (FCA) said that from Oct. 8, advertisers of crypto services in the U.K. would be subjected to stricter regulations.
The watchdog has mandated that crypto companies in the U.K. implement a “cooling-off period” for first-time investors. Additionally, as part of measures to enhance investor awareness of risks, the FCA has prohibited firms in the sector from using “refer a friend” bonuses.
Tel Aviv Stock Exchange completes proof-of-concept to tokenize fiat and bonds (2 min read)
A new phase in the Tel Aviv Stock Exchange’s integration of blockchain technology and traditional assets has been completed with the minting of the first dummy digital government bond as an ERC-1155 security token.
The bond mint is part of the proof-of-concept (PoC) phase of Project Eden, a partnership between the Israeli Ministry of Finance and the stock exchange to explore blockchain infrastructure in issuing and settling government bonds.
EU watchdog targets crypto ads on Instagram, YouTube, TikTok, Twitter (3 min read)
The largest European consumer rights group alleges crypto marketers on popular social networks use misleading promotion, exposing consumers to serious harm.
On June 8, the European Consumer Organisation (BEUC) — an umbrella group for 46 independent consumer organizations from 32 countries — published a report titled: “Hype or harm? The Great Social Media Crypto Con.“ In the 20-page document, the group states that consumers are not fully aware of the risks associated with crypto.
MetaMask Institutional to integrate with Fireblocks MPC platform (2 min read)
Fireblocks will be added to the list of MetaMask Institutional custody technology providers, allowing its users to perform token swaps and stake ETH using the app’s dashboard.
Web3 wallet MetaMask will integrate with Fireblocks’ multi-party computation (MPC) platform, allowing Fireblocks users to access the wallet’s portfolio dashboard, according to a June 6 announcement. The integration will be part of the MetaMask Institutional product aimed at institutional investors. It will go live on June 12.
BLOCKCHAIN
Ankr–Microsoft partnership continues with blockchain creator tool debut (2 min read)
On June 8, decentralized blockchain infrastructure provider Ankr announced the launch of its enterprise blockchain creator tool on Microsoft’s Azure Marketplace. Dubbed “AppChains,” the solution will enable companies to quickly launch a dedicated and customizable blockchain to power various Web3 strategies. Developers can deploy the Polygon Supernet on its first iteration, with more choices thereafter.
EU to use blockchain for educational and professional credential verification (2 min read)
The European Commission has moved to require educational and professional credentials to be verified across borders.
In an announcement on June 7, the Web3 and blockchain solutions provider, Protokol, revealed a collaboration with EBSI Vector, a European Union-funded project creating a decentralized framework for cross-border verification.
NFT platform Enjin forks Polkadot parachain Efinity to new mainnet (2 min read)
NFT platform Enjin has announced its transition to a new mainnet called Enjin Blockchain, aiming to further Web3 adoption. Following the transition, its Polkadot parachain, called Efinity, has been forked to the new blockchain.
In an announcement sent to Cointelegraph, the Enjin team highlighted that Enjin Blockchain would differ from other blockchain solutions that rely on smart contracts. According to Enjin, functions like creating and transferring NFTs will be integrated into the blockchain’s foundational code.
BUSINESS
Cumberland Labs unveils SaaS API for public blockchains and DeFi protocols (3 min read)
Cumberland Labs, the incubator arm of Chicago-based crypto trading company Cumberland, has launched the beta version of a new API tool that could simplify the arduous task of connecting to blockchain and decentralized finance protocols.
Cumberland Labs told Cointelegraph that the Cumberland, the trading unit of DRW Holdings LCC, used to invest considerable time connecting to various protocols manually, and one at a time.
HyperPlay raises $12M in Series A funding round (2 min read)
On June 8, HyperPlay, a Web3-native game launcher, said it closed its Series A funding round after raising $12 million from investors, including co-leaders Griffin Gaming Partners and Bitkraft Ventures.
Other investors include MetaMask’s parent company, ConsenSys, Ethereal Ventures, Delphi, Game7, Mirana Ventures, and Monoceros Ventures.
QUICK LINKS
Polygon Labs president testifies on democratizing the internet with Web3, blockchains (3 min read)
The U.S. House Committee explores blockchain and Web3’s future as industry leaders testify on democratizing the internet and regulatory challenges.
HyperPlay raises $12M in Series A funding round (2 min read)
Griffin Gaming Partners and Bitkraft co-lead investors in a $12 million Series A funding round for MetaMask and Game7’s HyperPlay.
GameStop fires CEO Matt Furlong months after axing crypto push (3 min read)
The executive, once instrumental to the company’s NFT efforts, was “terminated” amid lackluster Q1 earnings.
Intuit introduces proprietary large language models for fintech with GenOS (3 min read)
Intuit is launching an operating system for generative artificial intelligence that will feature AI models trained on the company’s financial data.
Binance.US halts trading for dozens of USDT, BTC, BUSD pairs amid SEC lawsuit (2 min read)
Binance’s arm in the United States suspended its OTC trading platform and reduced the number of supported convert trading pairs.
ARK Invest buys Coinbase shares the same day SEC serves lawsuit (2 min read)
ARK Invest bought over 400,000 shares of Coinbase stock, totaling more than $21 million, on the day the SEC served the exchange with a lawsuit.
Circle is the latest recipient of Major Payment Institution license in Singapore (2 min read)
The stablecoin issuer is the second crypto company to receive Singapore’s MPI license this month, following Crypto.com.