4 September

“The SEC is investigating the developer of decentralized exchange Uniswap. The SEC is seeking information about how investors use the exchange and how it is marketed.

While it is still unclear exactly what the SEC wants to know, the news is a sign of the regulator’s intent to wield greater oversight of decentralized finance (DeFi). No wrongdoing appears to have been alleged at this time.”

See Also: SEC is Reported to Have Started Inquiries on Other DeFi Dapp Makers Beyond Uniswap

Twitter appears to be developing functionality that enables users to add Bitcoin and Ethereum addresses to their profiles.

Mobile developer and self-described “leaker” Alessandro Paluzzi tweeted screenshots on Thursday that showed BTC and Ether (ETH) wallet address options in the settings toolbar of the app version of Twitter. While the news is unofficial at this stage, Twitter product lead Kayvon Beykpour retweeted Paluzzi’s Wednesday post about the BTC tipping feature with the lighting and “soon” arrow emoji.

The inclusion of ETH appears to be uncharted territory for the tech leader, who has notably refused to have anything to do with the second-most popular cryptocurrency in the past.”

Loot NFTs Turn the Metaverse into an Open-World RPG

See Also: What is Loot? The Surging Ethereum NFT Role-Playing Phenonemon

“Applying that deep-seated connection between art and community to the new world of online markets in unique digital assets is what gives this trend far greater prospects for economic disruption than initial coin offerings ever had. Add decentralized autonomous organizations (DAOs) into the mix, and that potential is amplified even more.

Both the issuers and buyers of “Pengus” and “Apes” are collectively striving to build a powerful feedback loop between the appeal of their respective NFT imagery and the formation of an ever-stronger community bond. Those that succeed will not only boost the value of the underlying NFT collection but also forge a sense of affiliation.

It’s a powerful combination. In NFT communities this FOMO (fear of missing out) game is amplified even more, because membership gives you both the satisfaction of belonging to the club and the capacity to flex your own, individual status through a unique avatar.

In this environment, price becomes a very clear measure of the success of a community. Prices of the NFT collections that are generating the most buzz and membership FOMO are the ones that are soaring.”

See Also: The Metaverse Is Coming, Companies Need to Prepare

“Bitcoin is holding above $50,000 at press time and is up about 2% over the past week. Higher price moves in cryptocurrencies have coincided with a rally in global stocks this week, signaling greater appetite for risk among investors.

Ether, the second-largest cryptocurrency by market capitalization, reached $4,000 on Friday for the first time since May. ETH is up about 20% over the past week, extending its outperformance versus bitcoin.

Bitcoin dominance has been falling towards 40% and may gradually weaken as investors branch out to other areas of the market, focusing more on use cases than purely store of value.”

See Also: US Misses Expectations in August Jobs Report, Pushing Bitcoin to 3-Month High

The People’s Bank of China said a crackdown on crypto transactions has been completed.

Virtual currency transactions have been “rectified” and supervision has returned to normal, the central bank said in its 2021 Financial Stability Report.”

“Researchers from the University of Texas have raised fresh concerns regarding Block.one’s record $4.362-billion ICO for the EOS blockchain in 2017 and 2018. The research allegedly identified 21 accounts that recycled EOS tokens during the ICO.

According to the paper, EOS was allegedly wash-traded on the Binance and Bitfinex cryptocurrency exchanges in an effort to artificially inflate the prices. Wash-trading describes the process where an entity simultaneously acts as the buyer and seller for the same asset to artificially bolster volume or manipulate prices.

These suspicious accounts accounted for almost a quarter of EOS purchases by the end of the crowdsale.”