Crypto News Summary: BitMEX Announces its IEO & BMEX Token, BaFin Comes After Coinbase Germany, Paradigm Launches Crypto Policy Council with US Politicians

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Sead Fadilpašić

Journalist

Sead Fadilpašić

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Sead specializes in writing factual and informative articles to help the public navigate the ever-changing world of crypto. He has extensive experience in the blockchain industry, where he has served...

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Last updated: 

September 7, 2023

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Exchange news

• BitMEX presented its first Initial Exchange Offering (IEO) today, launching its BMEX token, which kicks off a new era in BitMEX where it will refocus on crypto derivatives products, said a press release. The BMEX Token is available for trading starting November 11.
• The Federal Financial Supervisory Authority (BaFin) ordered crypto exchange Coinbase‘s German unit to address a number of issues, such as risk management, staffing, and IT systems. The regulator said the exchange must ensure it has effective risk management and internal controls in place after uncovering “organizational deficiencies” during an audit of the company’s financial statements.
• OKX today launched the OKX Football Festival in anticipation of national football teams meeting this month in Qatar. The festival consists of the NFT Football Cup, the 2022 OKX Football Cup Trading Competition, and the Earn Super Hatrick fan token staking series. This event offers users the chance to win $3 million in prizes, and includes an effectively free-to-play non-fungible token (NFT) minting event, said a press release.

Career news

• Venture capital firm Paradigm has launched a Crypto Policy Council that includes former US Speaker of the House of Representatives Paul Ryan and former US Congressman Steve Israel. Other members include Marta Belcher, Deb Callahan, Makan Delrahim, Nicole Elam, and Parker Poling. “This team will advise Paradigm’s leadership team and help us tell the story of Web3 in Washington and around the world,” said the announcement. Ryan is listed as a senior advisor along with Chris Brummer, Director of Georgetown University’s Institute of International Economic Law.
• Payments platform Wirex in partnership with The Cryptonomist announced the winners of the 2022 Rising Women in Crypto Power List. The 13 winners were chosen by the judges out of over 200 entries, said the press release.

Investment news

• Crypto lending platform BlockFi has re-launched its crypto yield product after shutting it down following a Securities and Exchanges Commission (SEC) settlement of $100 million. The product is limited to accredited investors. “BlockFi Yield for accredited investors is “Phase 1” in ensuring that *all* Americans have access to earning interest on their digital assets,” it added in a tweet. “Beta testing will begin in the coming weeks, with a wider rollout to all eligible US clients this winter.”
• NEAR Foundation announced its integration with Binance Custody, an institutional-grade digital asset custody solution. Per a blog post, by supporting the NEP-141 standard, Binance Custody enables institutional users with NEAR holdings to make use of their storage infrastructure. The integration also makes it easier for Binance Custody to provide future support for any NEP-141-compatible tokens from projects building on NEAR, it said.

Gaming news

• Thirdverse Group announced that it will be the initial validator and node operator for the launch of the Oasys mainnet, a public blockchain specialized in gaming with no transaction fees, said an announcement. Thirdverse Group is currently developing several blockchain games and intends to make use of the Oasys chain for some of its upcoming titles, it added.

Real estate news

• Spatial announced an official partnership with Exclusible to bring luxury to the metaverse through its new collection of virtual real estate, said a press release. Exclusible in collaboration with Polycount, the official metaverse architectural studio, will launch two new spaces – a yacht and water house exclusively on Spatial’s platform. With over 4 million minutes spent in Spatial each week, the company also announced Live Explore and Social Profiles to improve the discoverability of popular spaces across the platform.
• Crypto asset service provider CoinMENA announced a partnership with Carlton Real Estate, a Bahrain-based real estate agency, that allows investors in the Kingdom to purchase real estate property using cryptoassets. Under the partnership, the Bahrain-based real estate broker will accept stablecoins like USDT and USDC.