American food manufacturing conglomerate Kraft Foods is taking an interest in NFTs to bring its products and services into the virtual world. This and more news is in this handy daily roundup so you're always up to date with the latest events happening in the crypto world.
Kraft joins the NFT
📍‌Food manufacturer Kraft Foods reveals interest in NFTs. The US-based food manufacturing and processing company has submitted a series of patent applications to the USPTO to register the use of several of its trademarks for digital products and services related to NFTs.
According to trademark attorney Mike Kondoudis, the patent applications filed by Kraft Foods are focused on the creation of non-fungible tokens, digital marketplaces and more.
Registered trademarks include: Kraft, Oscar Mayer, Jell-O, Kool-Aid, Velveeta, Lunchables and Philadelphia.
Bitcoin Difficulty Adjustment
📍‌Bitcoin adjusts its difficulty, following a slight drop in its hash rate. The world's most powerful blockchain network, Bitcoin, has adjusted its difficulty after reaching an all-time high of 31,3 trillion last week. The current network difficulty stands at 30,28 trillion.
El hash rate Bitcoin’s price, which is currently hovering around 224 EH/s, has also declined slightly this week. The metric reached above 260 EH/s for the first time in its history last week, according to data from Blockchain.com.
USDD loses parity with the dollar
📍‌Tron’s algorithmic stablecoin, USDD, has lost its peg to the US dollar. USDD is quoted at $0,97 At press time, according to cryptocurrency monitoring platform CoinMarketCap, the Tron network’s algorithmic stablecoin, launched in early May, has lost its peg to the dollar for the third time since its official launch.
The funds held in USDD reserves by Tron Reserve are three times the current market capitalization of the algorithmic stablecoin, the organization said.
The SEC and Lummis's proposed crypto regulation
📍‌SEC slams Cynthia Lummis and Kirsten Gillibrand's crypto bill proposal. SEC Chairman Gary Gensler fears that the current draft bill put forward by U.S. senators could inadvertently undermine the existing regulatory framework and weaken market protections, the regulator said during his appearance at The Wall Street Journal's CFO Network Summit.
At the event, Gensler said he believes the regulations proposed by Lummis and Gillibrand could lead market participants to violate securities laws.
Gensler also suggested that many cryptocurrency companies, which offer returns for doing staking with crypto assets, they are operating under their jurisdiction.
On the other hand, Fox News reported that this financial organization has initiated a series of investigations in the crypto industry, which aims to determine whether cryptocurrency exchange companies are imposing strict controls to limit the use of privileged information, in order to guarantee the security of investors.
Continue reading: New delay for Ethereum’s “difficulty bomb” Will ETH 2.0 arrive in August?
