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Stablecoin issuer Paxos was reportedly discussing the Binance USD (BUSD) stablecoin with the United States Securities and Exchange Commission following a Wells notice from the financial regulator.According to a Feb. 21 Reuters report, Paxos CEO Charles Cascarilla said the firm was “engaged in constructive discussions” with the SEC and would continue to speak in private. The report followed the stablecoin issuer facing a lawsuit from the SEC, in which the regulator alleged BUSD was an unregistered security.Cascarilla reportedly said that Paxos would consider defending its position that BUSD was not a security through litigation. On Feb. 13, the New York Department…

NFT The latest development follows Chevrolet’s NFT collection launch last July. The General Motors Company (GM), a Detroit-based multinational automotive company, wants to join the NFT scene. It recently filed trademark applications for two of its most prominent brands, Cadillac and Chevrolet. General Motors filed the trademark applications with the United States Patent and Trademark Office (USPTO) on Feb. 16, according to information disclosed today by USPTO-licensed attorney Mike Kondoudis. GM has filed a pair of new applications to trademark:????Chevrolet????Cadillac The applications cover NFT-authenticated media files.#NFTs #Web3 #GM #Chevy #Cadillac pic.twitter.com/otf2PNH3fP — Mike Kondoudis (@KondoudisLaw) February 21, 2023 The trademark…

Blockchain On Tuesday, Feb. 21, layer 2 scaling solution Arbitrum surpassed Ethereum in daily transactions, increasing Arbitrum’s dominance as the leading layer 2 rollup. The number of daily transactions on the Arbitrum, the fourth-largest blockchain overall in terms of total value locked (TVL), jumped from 159,919 in daily transactions on Jan. 1 to over 1,103,398 at the time of press, representing a roughly 590% increase in less than two months, according to block explorer Arbiscan. In comparison, the number of daily transactions on Ethereum increased a meager 46% in the same period to 1,084,290, per Etherscan. Moreover, the number of…

NFT NFT marketplace-related utility and governance tokens took a beating Tuesday, cementing itself as one of the industry’s worst-performing categories on the day as the broader market’s rally hits pause. Tokens tied to NFT marketplaces Blur, LooksRare, SuperVerse, Rarible, X2Y2 and Sudoswap have fallen deeper in the red on a 24-hour basis as interest in the niche digital asset sector has begun to taper off. Governance tokens for digital collectibles marketplaces fell between 4 to 16%, including SuperVerse’s (SUPER), Blur’s recently launched BLUR, Rarible’s (RARI) and Sudoswap’s SUDO. Despite Blur’s booming volumes of late amid “speculative” tokenomics, Andrii Yasinetsky, chief…

The Central Bank of Nigeria (CBN) continues to develop its central bank digital currency (CBDC), the eNaira, but this time it’s calling for backup.According to a Feb. 21 Bloomberg report, the CBN is in talks with new “technology partners” to develop a new and improved system to manage the eNaira.According to sources close to the matter, the Nigerian financial authority has discussed these plans with the New York-based technology firm R3.New software for the eNaria will be created to allow the CBN to have complete control over the initiative; however, the unnamed source said the matter is confidential.The effort to…

The team behind nonfungible token collection Friendsies has refuted claims they are “abandoning” the NFT project following a tsunami of “rug pull” accusations. On Feb. 21, the founders behind the NFT project told their Twitter followers that they werputting a “pause” on Friendsies and “all future digital goods” for the time being, citing market challenges.Around 40 minutes later, the Twitter account was deleted, while the account of Friendswithyou, who developed the project, was made private — sparking rumors that the founders had “rugged” for about $5 million.With the $5.3m @friendsies_ai hard rug earlier today it remains unclear how the funds…

Immutable X announced a new, upcoming addition to their ecosystem known as the Immutable Passport. Part wallet, part login authenticator, the Immutable Passport promises to be a valuable tool for both developers and gamers! What was once just a secondary solution to gas fees for Gods Unchained cards is quickly growing to become a massive mover and shaker in the web3 world. IMX continues to work on making the onboarding process for new players a more seamless experience. And along the way they build APIs and tools for developers to help them leverage these tech improvements. And in their latest…

NFT Ascendant NFT marketplace Blur announced Tuesday that it will soon airdrop some $300 million worth of additional tokens to loyal users, days after overtaking once-untouchable competitor OpenSea as the most popular Ethereum NFT trading platform by trading volume. Blur will release 300 million of its native BLUR tokens to traders over the course of the platform’s “Season 2,” which has already begun. BLUR is currently trading at $0.99, according to CoinGecko. “Season 1,” which culminated with the debut of its native token BLUR last week, saw Blur dole out “care packages” of BLUR to traders who transitioned to the…

The Moscow bureau of Interpol detained a British national charged by the United States Department of Justice (DoJ). The man is accused of conspiring to violate U.S. sanctions on North Korea. According to local media, on Feb. 21, Christopher Emms was arrested in Moscow upon the “red notice” from Interpol. Th 31-year-old British citizen was detained in the hostel where he was staying. In April 2022, alongside Spanish national Alejandro Cao De Benos, Emms allegedly provided instructions to North Korea on how it could use blockchain and cryptocurrency to launder money and evade sanctions. The two planned and organized the 2019…

NFT Nonfungible token (NFT) collection Friendsies has refuted claims it is “abandoning” its NFT project following a tsunami of “rug pull” accusations aimed at its founders. On Feb. 21, the founders behind the NFT project told its Twitter followers that it was putting a “pause” on Friendsies and “all future digital goods” for the time being, citing market challenges. Around 40 minutes later, the Twitter account was deleted, while the account of Friendswithyou, who developed the project, was made private — sparking rumors that the founders had “rugged” for about $5 million. With the $5.3m @friendsies_ai hard rug earlier today…