Twitter vs. Elon Musk, Digital Euro’s Phase 2, New Investments + More News

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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.

Legal news

  • Lawyers of social media giant Twitter “only need four days” in court to prove that Elon Musk should be forced to honor his agreement and pay USD 54.20 a share for the company, for a total of USD 44bn, per Bloomberg.

CBDCs news

  • François Villeroy de Galhau, Governor of the French central bank, Banque de France, stated that the first phase of experiments with a wholesale digital euro has been completed, and that Phase 2 experiments will begin this year. Their current schedule is aiming at having central bank money as a settlement asset as early as 2023, with the implementation of the European pilot regime, which will offer a regulatory framework to support the financial asset tokenisation trend.

Investments news

  • Crypto-focused investment company Multicoin Capital announced their latest fund, dubbed Venture Fund III, worth USD 430m that will invest between USD 500,000 and USD 25m in early-stage opportunities, up to more than USD 100m for later-stage projects when combined with their evergreen liquid fund.
  • Crypto lender Morpho announced it raised USD 18m in a funding round co-led by a16z Crypto and Variant.
  • Crypto miner BIT Mining announced it is selling a 51% stake in its subsidiary Loto Interactive to an unaffiliated third party for a total of HKD 78m (USD 9.94m). After the transaction, the company’s share ownership in Loto Interactive will decrease to 8.79%, they added.
  • Crypto recruitment firm Inflection Points, co-founded by bitcoin (BTC) and crypto investor Anthony “Pomp” Pompliano, has unveiled a USD 12.6m funding round and a deal to acquire rival company Proof of Talent. Proof of Talent will continue to operate as a stand-alone team, they added.

Regulation news

  • The UK Treasury Committee said it aims to examine the potential risks and opportunities associated with the use of cryptoassets, their impact on social inclusivity, and the possible need for regulatory change in the future, and is asking for evidence. The Committee welcomes submissions by 5.00pm on Monday 12 September 2022.
  • The US Treasury is now inviting the country’s public to weigh in on President Joe Biden’s order to come up with new rules for the crypto industry, with letters to be received no later than August 8th.
  • The US Securities and Exchange Commission has pushed the deadline to approve or disapprove ARK 21Shares’ bitcoin (BTC) exchange-traded fund to August 30th. The previous deadline was July 16th.
  • The Catawba Digital Economic Zone, established earlier this year by The Catawba Indian Nation in the Carolinas, USA, said it has passed a set of regulations regarding the treatment of digital assets. The regulatory framework notably establishes that digital assets such as cryptocurrencies and NFTs are intangible property, they said, adding that digital assets remain undefined, from a legislative perspective, at the federal level, and in every state except for Wyoming.

Metaverse news

  • The Sandbox, a gaming virtual world and a subsidiary of Animoca Brands, said it has partnered with Tony Hawk Inc. and Autograph to create a Tony Hawk LAND in The Sandbox, marking the first entry of Tony Hawk, an American professional skateboarder, entrepreneur, into the metaverse.

NFTs news

  • Web3 animation studio Toonstar announced a partnership with US retail store Hot Topic to launch NFT sales and Web3 projects for the retailer.