Well, folks, the crypto world is buzzing again, and this time it’s all about NFTs, royalties, and some big names throwing their hats in the ring. So, what’s the tea? Let’s dive in!
First, our billionaire buddy, Mark Cuban, could be happier with OpenSea. Why? Because the NFT trading platform decided to play it cool and no longer require payment of secondary royalties to creators. Imagine creating a masterpiece, selling it, and then not getting a dime when resold for a higher price. Ouch, right?
Cuban took to social media, exclaiming, “Not collecting and paying royalties on NFT sales is a HUGE mistake by OpenSea.”
And guess what? He’s an investor in the company! Talk about biting the hand that feeds you. But wait, there’s more drama. Yuga Labs, the brains behind those adorable Bored Ape Yacht Club NFTs, echoed Cuban’s sentiments and announced they’d be sunsetting their support for OpenSea. Double ouch!
But hold onto your crypto wallets because the tale has another twist. The SEC (the prominent financial watchdog) has decided to step into the ring. They’re asking a judge if they can appeal a ruling on Ripple Labs. The bone of contention? Whether Ripple Labs’ XRP token sales through exchanges violated securities law. The SEC believes this case could set a precedent for other crypto assets. The countdown is on, as Ripple Labs and its CEO, Brad Garlinghouse, have until September 1 to respond.
Now, let’s jet set to North Korea. Reports suggest the country has managed to steal a whopping $200 million in crypto this year. And while this figure is less than what they allegedly nabbed in 2022, it’s still significant. How are they doing it? By hacking into crypto platforms and laundering the stolen assets through decentralized exchanges and crypto mixers.
Across the pond in the UK, regulators are tightening the noose around illicit crypto activities. Starting in September, digital asset companies will need to collect and share data on cryptocurrency transfers. This move aims to curb money laundering and other shady dealings.
In the world of mergers and acquisitions, digital securities company Securitize is set to acquire Onramp Invest, a crypto portfolio platform for financial advisors. The terms of the deal remain hush-hush, but the acquisition is expected to conclude soon.
So, there you have it! From NFT royalty dramas to regulatory rumbles, the crypto world never ceases to amaze. Stay tuned for more updates, and always remember to do your own research!
