The NFT marketplace platform Magic Eden, built on Solana, has created MagicDAO to put its decentralization and future development in the hands of its community. This and more news in this handy daily digest so that you are always informed with the latest events happening within the crypto world.
Cryptocurrencies and altcoins
📍An OTC sale of LUNA leads Luna Foundation Guard (LFG) to raise $1.000 billion to support UST. La stablecoin The Terra ecosystem’s algorithmic capital, UST, has a $1.000 billion reserve from the over-the-counter sale of LUNA, the native cryptocurrency of the Terra blockchain. Major crypto investors including Republic Capital, Tribe Capital, DeFiance Capital, and GSR participated in the fundraising. Jump Crypto and Three Arrows Capital led the creation of the new reserve for UST.
Through these funds, LFG seeks to ensure UST's parity with the US dollar, even during sharp declines in the value of cryptocurrencies and the massive sale of these assets in the markets. Currently, UST has a market capitalization of 12.480 million, being the largest decentralized stablecoin in the crypto ecosystem.
Bitcoin and Blockchain Adoption
📍Christine Moy, head of JP Morgan's blockchain division, is stepping down. The director of Onyx, the blockchain division of JP Morgan, which recently Opened Decentraland-based blockchain developer and operator of the Liink payment network, is stepping down from her role after 18 years with the company. According to BNN Bloomberg, Christine Moy is looking for an external opportunity.
Sushil Raja, Onyx's chief financial and strategy officer, will replace Moy in almost all of his roles, explained the medium.
NFT and DeFi Markets
📍Magic Eden, Solana's largest NFT marketplace, creates MagicDAO. The developers of the Magic Eden marketplace platform, built on Solana, are creating a DAO (Decentralized Autonomous Organization) to ensure its decentralization and future development. On Twitter, the marketplace reported that the DAO, called MagicDAO, will help the user community organize itself to drive the growth and expansion of the NFT marketplace platform. In addition to this, Magic Eden will release 50.000 NFT tickets, which it will distribute to current marketplace users, which will serve as membership passes for MagicDAO.
Magic Eden has become Solana's leading NFT marketplace, with a total sales volume of 6,4 million SOL; about $563 million at the time of this writing.
📍Opensea is being sued for allowing the sale of an NFT from the Bored Ape Yacht Club crypto collection for just $26. BAYC #3475 owner Timothy McKimmy is suing marketplace Opensea for failing to fix its security flaws, which allowed his valuable NFT to be sold for as little as $26. McKimmy has filed a lawsuit against Opensea in a court in Texas, United States.
The investor had bought the BAYC #3475 for 55 ETH 3 months ago. The current price of this NFT token is 130 ETH, which is about $340.000 today.
📍The Doggies, Snoop Dogg's new NFT crypto collection. Popular rapper and actor Calvin Cordozar Broadus, known as Snoop Dogg, has launched a new collection of 10.000 NFTs in The Sandbox metaverse. Snoop Dogg made the announcement on his Twitter account, where he explained that his new collection of NFT avatars gives its holders early access to all experiences within his virtual world. snoopverse. The current price of each of these NFTs is $1.660.
Rules and Regulations
📍Peru's SBS denies approval of the country's first crypto bank. Fluyez Digital Investments SAC promotes itself as the first crypto bank approved by the Superintendency of Banking, Insurance and AFP (SBS) of Peru. However, the media Managerial Accounting notes that the SBS has not yet authorized this company as a crypto bank to provide financial services with cryptocurrencies, so it is possible that it will initiate investigations and legal actions against those who violate the rules.
According to the report, Fluyez Digital Investments SAC has only been registered as an exchange house for the purchase and sale of foreign currencies, but is not authorized for the marketing and trading of cryptocurrencies in the country.
Continue reading: Polygon exceeds 2,4 million active unique addresses per month
