13 October

“We’re seeing more and more chatter about crypto regulations from the current U.S. presidential administration but, despite certain statements from the SEC chair, the overall approach seems to be “wait and learn” rather than immediate action.

Rumor has it President Joe Biden may issue an executive order (EO) that would direct federal agencies to study the crypto sector and develop recommendations for regulating it.

The key takeaway seems to be that the administration wants to know more about crypto, how it works and how it might fit into existing regulations or what new regulations the industry might need. The administration is taking a wait-and-see approach as opposed to immediately moving to ban or even strictly regulate crypto.”

See Also: IMF reiterates more oversight for crypto in latest report on financial stability

“The U.S. crypto exchange is launching “Coinbase NFT,” a marketplace that will allow its users to buy and sell Ethereum-based digital collectibles, the company announced Tuesday. Coinbase’s NFT platform is expected to launch by the end of the year.

Coinbase’s product will take a direct swing at juggernaut marketplace OpenSea, which is currently home to the majority of Ethereum-based NFT trading.

If you’ve tried to create or purchase an NFT, you’ve probably found the user experience lacking. Coinbase NFT will make minting, purchasing, showcasing and discovering NFTs easier than ever.”

See Also: Médecins Sans Frontières Receives $3.5 Million ETH Donation From NFT Sale

“Video games and music as industries are most likely to see positive changes from the influx of NFTs. Areas and companies that are likely to be hurt by NFTs include video game retailers with physical stores, traditional record labels and music publishers, traditional video and music streaming platforms and “walled garden” online ecosystems. All of those are intermediaries that could be bypassed if content creators had a more direct relationship with their customers.

The advent of NFTs promises significant disruption to any/all sectors with exposure to IP (intellectual property), licensing and merchandise related revenues. The key point is that its decentralized and democratized model allows content owners to disintermediate traditional gatekeepers both in terms of distribution and monetization.”

See Also: Bored Ape Yacht Club NFT Makers Eye Expansion Into Film, TV and Music

“Today we’re unveiling Arbitrum Nitro, the next iteration of Arbitrum. We’re estimating a 20–50x increase in Layer 2 execution speed, and we also expect a sizable decrease in costs.

It’s built on standard technologies like WASM and Geth, so it’s more EVM-compatible, an order-of-magnitude faster than our current tech, and adds another 0. When it’s ready we’ll be deploying it as a seamless upgrade to Arbitrum One.”

“The newly launched $1 billion Growth Fund by Binance will be dedicated to four main categories in the BSC’s ecosystem: talent development among the developer communities and crypto investors, liquidity incentive programs to encourage new users to try the smart contract blockchain, tech support including global hackathons and an incubation program for different new projects.

The announcement came after a number of other blockchain projects pushed out their own big-budget incentive programs to boost their ecosystems, including Solana, Avalanche and Fantom.

BSC has faced criticism for being less decentralized and secure than some of its competitors. There has been a growing number of “rug pulls” or exploits on DeFi projects built on BSC this year, and BSC’s security algorithm, known as Proof-Of-Staked Authority (PoSA) , is controlled by only 21 node operators.”

“The wallet, available as an extension for the Chrome web browser, will look to challenge MetaMask, the non-custodial wallet that in August said it had more than 10 million active users.

XDEFI offers access to chains such as THORChain and Terra and aims to allow users to move between protocols easily and automatically add new chains. The wallet also offers automatic detection of NFTs.”

See Also: Stripe Is Hiring a Crypto Team 3 Years After Ending Bitcoin Support