While the NFT market has lost considerable steam since peaking two years ago, the marketplace Magic Eden has been reaching new heights on its own, according to CEO Jack Lu. “Even though the overall market has been a bit soft, the year has been pretty good for Magic Eden,” he…
Crypto-related activities such as political donations, crypto betting, PolitiFi tokens, and NFT sales have surged, overshadowing the level of crypto participation seen in earlier elections. Crypto Donations and Betting Soar in 2024 US Elections Breadcrumbs, a blockchain analytics platform, reports that crypto donations to political campaigns have doubled since 2022.…
When the NFT marketplace OpenSea signaled that it was braced for a regulatory crackdown last month, the disclosure delivered a jolt to Magic Eden CEO Jack Lu. “It all happened very suddenly,” he said in an interview with Decrypt (video below), adding that the San Francisco-based firm has not received a…
The Digital Chamber (TDC) has called on Congress to pass legislation that would define certain non-fungible tokens (NFTs) as consumer goods and exempt them from federal securities laws. The move follows growing concerns over the Securities and Exchange Commission’s (SEC) recent enforcement actions, including the issuance of a Wells notice…
Magic Eden, the multi-chain NFT marketplace, is conjuring up a storm in the NFT world, with daily trading volumes skyrocketing from a modest $1 million to a staggering average of $30 million. The platform recently hit a peak of $60 million in daily volume, showcasing the renewed interest in digital…
This revelation comes as its founder and CEO, Pavel Durov, faces legal scrutiny in France. Last week, a French court charged him over allegations that the app was used to facilitate illicit activities. Telegram’s Revenue Heavily Reliant on Crypto A recent Financial Times report reveals that Telegram generated $130 million…
Toncoin Plunges 20% After Telegram CEO’s Arrest Recently, a French court charged the founder of Telegram, Pavel Durov. The prime allegation against the Telegram founder was that his organisation allowed its message application’s tools to be used for illegal activities. It was not the first time that the organisation faced…
Former U.S. President Donald Trump’s mysterious new crypto business plans to offer access to “high-yield” opportunities, according to a clue embedded in the website for the project called World Liberty Financial. Metadata on worldlibertyfinancial.com says “the only crypto DeFi platform supported by Donald J. Trump” will connect users to “decentralized…
Prominent crypto analyst Lark Davis has taken a strong stance against the recent actions of the U.S. SEC, linking them directly to what he calls a broader “crypto reset” led by the Biden administration. Davis’s critique focuses on Vice President Kamala Harris, accusing her of having the power to stop…
This notice, which often precedes legal action, suggests that the SEC believes OpenSea may have violated federal securities laws by facilitating the sale of NFTs that could be considered securities. Community Voices Clash Over SEC’s Crackdown on OpenSea Finzer quickly responded, expressing his shock at the SEC’s approach. He argued…