🔴Is Coinbase in Trouble?

FDIC Warns About Voyager’s Fake Insurance Claims, Cathie Wood Leaves Coinbase, Mercedes Benz Uses Polygon’s Blockchain To Store Data These stories and more this week in crypto.

Voyager’s insurance claims were bogus

The Federal Deposit Insurance Corporation has issued a letter to Voyager Digital, demanding an end to its false insurance claims for its customers’ funds. The FDIC explained that Voyager misled its customers by implying that their uninsured deposits were insured by the FDIC. Voyager filed for bankruptcy protection in the first week of July.

Cathie Wood Dumps Coinbase

ARK Invest, the hedge fund headed by Cathie Wood, sold more than 1.4 million shares of Coinbase Global. It appears they sold the stock at an all-time low of $53 per share, possibly losing almost $280 million. This is the first time this year that the fund has dumped Coinbase shares.

Multinational bank to launch Crypto Trading

Spanish multinational bank Santander plans to offer cryptocurrency trading to its customers in Brazil in the coming months. The CEO of Santander Brasil acknowledged that its customers are in demand for this type of asset, so the bank will offer cryptocurrency trading in the most educational way possible.

The EU has no experts in cryptography

According to the president of the European Banking Authority, the European Union has a lack of crypto experts to regulate the crypto market. José Manuel Campa said that the lack of experts in the crypto field in the EU has caused great concern to the body in charge of overseeing the EU’s banking sector.

Ethereum Classic Jumps 124%

Over the past two weeks, the price of Ethereum Classic has doubled against the dollar. Since the 2016 hard fork, Ethereum Classic has been using the same proof-of-work consensus algorithm as Ethereum. Now, with Ethereum’s upcoming switch to proof-of-stake, there is some speculation that some of Ethereum’s proof-of-work miners will switch to mining Ethereum Classic.

Solana opens a Real Life store in New York

A Solana-themed store is set to open in New York City. In the new store called Solana Spaces, visitors can learn how Solana works and what Web3 is. The Solana team will also help their visitors set up a wallet, buy their first NFTs, and provide real-world guidance through their first on-chain transactions.

Binance to sell first NFT football tickets

Next season, Binance will sell NFT match tickets for one of Italy’s top soccer teams, Lazio. Beyond attending matches, Lazio fans will be able to use the tokens to take advantage of various discounts and merchandise offers from their club and enter giveaways.

New Blockchain Network Launched by Mercedes

The Mercedes Benz Group has introduced a blockchain-based data exchange network designed specifically for corporate users. The new project will allow companies to buy and sell data, including insurance information and test data, in a decentralized environment. Polygon, the Ethereum Layer-2 scaling solution, will help execute transactions on the blockchain.

That’s what happened this week in crypto, see you next week.

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