In this recap of the crypto world, let us explore the events and news that had the most significant impact in the past week. Our focus will be on the following developments:
● Fake Bitcoin ETF Approval News from Compromised SEC X Account
● OpenSea Launches a New Self-Custodial Wallet
● X Ends Support for NFT PFPs
● Azuki Announces its Anime Series
● SEC Officially Approves All Spot Bitcoin ETFs
Fake Bitcoin ETF Approval News from Compromised SEC X Account
In a surprising turn of events on Tuesday afternoon, the official X account of the U.S. Securities and Exchange Commission (SEC) posted a tweet announcing the approval of several Bitcoin exchange-traded funds (ETFs). However, the SEC swiftly clarified that the tweet was unauthorized and inaccurate, pointing to a compromise of their X account by an external entity.
The unauthorized tweet, falsely claiming the approval of Bitcoin ETFs, triggered momentary confusion and volatility in cryptocurrency markets. Investors and enthusiasts alike were surprised by the unexpected announcement, only to learn shortly afterward that it was a result of a security breach.
This breach has raised concerns among securities lawyers who now argue that the SEC must conduct an internal investigation into potential market manipulation. The hack, they claim, likely violated new SEC cybersecurity rules implemented in July. These rules mandate stringent risk management practices to guard against cybersecurity threats.
Furthermore, U.S. Senator Bill Hagerty has voiced strong disapproval of the incident, deeming it “unacceptable.” Senator Hagerty has called for a thorough inquiry into the circumstances surrounding the unauthorized tweet, emphasizing the need for the SEC to provide clear explanations. He suggests that the hack, characterized as a market-impacting mistake, warrants serious attention from Congress. Read more on this here.
OpenSea Launches a New Self-Custodial Wallet
In a pivotal move towards achieving mainstream adoption, OpenSea has introduced a revolutionary onboarding experience centered around a user-friendly self-custodial wallet linked to email addresses. This strategic development is aimed at simplifying the intricate process of entering the Web3 space, making it more accessible to a broader audience.
The integration of OpenSea’s self-custodial wallet represents a new era for user experience within the platform. Users can now seamlessly manage their crypto and NFT portfolios, execute transactions, and delve into the blockchain – all without the need for cumbersome separate wallet extensions.
One notable feature of this wallet is its capacity to support credit and debit card purchases. So, OpenSea users can now effortlessly acquire NFTs, digital collectibles, and cryptocurrencies directly through the platform. This integration aligns with OpenSea’s commitment to simplicity and accessibility, ensuring a smooth onboarding experience for users entering the dynamic world of digital assets.
It is important to note that, as of now, the email sign-in feature is exclusively available on browsers. However, OpenSea has assured users that support for the OpenSea mobile app is in the pipeline and expected to be rolled out in the near future. Read the full blog post here.
X Ends Support for NFT PFPs
In a surprising turn of events, X has bid farewell to a feature that once epitomized the platform’s embrace of the world of NFTs. Two years after its initiation under X’s previous management in January 2022, the ability for X Blue subscribers to set NFTs as profile pictures has been axed.
The NFT-profile picture feature presented these digital assets as distinctive hexagons, offering users the ability to click or tap on the avatar to access detailed information about the NFT. This included particulars such as the NFT collection, contract address, TokenID, and the application with which it was minted.
However, now the platform has chosen to erase any mention of the NFT profile picture feature from its Premium support page, signaling the end of an era. While users who had previously set NFTs as profile pictures retain their hexagonal avatars for now, the future of these PFPs remains uncertain.
As the dust settles on X’s abrupt discontinuation of NFT PFP support, users and crypto advocates alike eagerly await clarity on the change. Read more on this here.
Azuki Announces its Anime Series
In a move that sets the stage for a new era in anime, Azuki has unveiled an ambitious collaboration with acclaimed director Goro Taniguchi. Widely celebrated for his contributions to iconic series like “Code Geass” and “One Piece Film: Red,” Taniguchi sees this partnership as a golden opportunity to push the boundaries of anime and introduce the art form to new audiences.
The collaboration extends its roots deep into the industry, tapping into the expertise of Dentsu, a prominent advertising and anime production company in Japan. Together, Azuki, Taniguchi, and Dentsu are assembling a powerhouse team of industry experts and top-tier talent to craft an animated anthology series.
Scheduled for release later in 2024, the anthology series is said to include three distinct stories, each guided by a dedicated director and character painters. This dynamic approach not only promises a diverse and rich narrative experience but also showcases a commitment to elevating the Azuki anime IP to new heights. Read more on this here.
SEC Officially Approves All Spot Bitcoin ETFs
In a historic move that marks a significant shift in the investment landscape, the U.S. Securities and Exchange Commission (SEC) has officially given its stamp of approval to the first regulated spot bitcoin exchange-traded funds (ETFs) in the United States. This represents a landmark moment for Bitcoin, offering a new and accessible avenue for investors to engage with the world’s most prominent digital asset.
The approved spot bitcoin ETFs include:
- Ark Invest ARK21Shares Bitcoin ETF
- Bitwise Bitcoin ETF
- BlackRock’s iShare Bitcoin ETF
- Fidelity Wise Origin Bitcoin Trust
- Franklin Templeton Digital Holdings Trust
- Grayscale Investments Bitcoin ETF
- Hashdex Bitcoin Futures ETF
- Invesco Galaxy Bitcoin ETF
- Valkyrie Bitcoin Fund
- VanEck Bitcoin Trust
- WisdomTree Bitcoin Trust
The immediate impact of the SEC’s decision was felt on the first day of trading, as the approved spot bitcoin ETFs experienced a surge in market inflows.
It is also important to highlight that the SEC’s approval not only opens up new opportunities for investors but also signals a shift in regulatory sentiment toward embracing the digital asset space. Read more on this here.
