Morgan Stanley increases its investment in Bitcoin to more than $300 million in GBTC shares, while Adidas prepares to fully enter cryptocurrencies and the Metaverse. This and more news in this handy daily summary so you are always informed with those most recent events that happen within the crypto world.
Cryptocurrencies and altcoins
📍NFT and Metaverse tokens escape crypto market correction. In the last week, the main cryptocurrencies, of the industry have lost 6% of their value on average, while tokens related to NFTs and the Metaverse grew exponentially. The Sandbox (SAND) and Decentraland (MANA) have appreciated 96% and 47%, respectively, in the last 7 days. Other tokens such as Enjin Coin (ENJ) and Chiliz (CHZ) grew by 45% and 15%.
Scalability cryptocurrencies, such as Avalanche (AVAX) and Polygon (MATIC), show 10% growth; decentralized finance tokens, Curve Finance (CVR), MakerDAO (MKR), and Fantom (FTM), show growth between 15% and 37% in the last week.
Bitcoin and Blockchain Adoption
📍Morgan Stanley owns more than $300 million in shares in Grayscale's Grayscale Bitcoin Trust (GBTC). The American financial multinational and bank, Morgan Stanley, now owns a total of 6.626.381 shares of GBTC, Grayscale Investment's Bitcoin investment fund. In a document filed with the United States Securities and Exchange Commission (SEC), Morgan Stanley reported that it had increased its investment in the cryptocurrency through Grayscale. Morgan Stanley's statement corresponds to September 30.
To date, Grayscale Bitcoin Trust (GBTC) shares are valued at $46,42, so the American bank has approximately $307,6 million invested in Bitcoin.
NFT and DeFi Markets
📍The sports brand Adidas is preparing to fully enter cryptocurrencies and the Metaverse. Adidas is apparently about to make a stunning entry into the crypto world. The German sports clothing and footwear brand has left several clues on its social networks. Through Twitter, Adidas reported on its possible partnership with The Sandbox, one of the most complete metaverses that exist in the industry and that has moved more than 230 millions of dollars in sales until now. Likewise, the German brand reported which has partnered with the second largest cryptocurrency exchange by trading volume.
Adidas, which has already launched its first NFT tokens, acquired its first plot of digital land in The Sandbox. Close sources assure that Adidas will make its official announcement in the Metaverse next Monday, November 29.
📍Serj Tankian, vocalist of the rock band System of a Down, will launch NFT collection. The popularity of non-fungible tokens continues to attract large corporations, companies, musicians and artists. Now, the opportunity is for Serj Tankian, the vocalist of the popular rock band System of a Down, who announced his first collection of NFT for next December 6. Tankian will launch a collection of exclusive art NFTs on the Ethereum blockchain. The collection, called “Not for Touching – The Intangible Composition”, will be launched through an interactive gallery in collaboration with the Curio platform.
Tankian stated that he has turned to NFTs to give life and value to his music. “Art, my art makes my music more exclusive… NFTs are the next step. Within NFTs we can not only connect music with real painting, but we can also make them dance. "The more we interact with multiple senses, the greater the artistic multiplier effect.", said the musician in an email sent to Rolling Stone.
Development and Technology
📍Covalent integrates the Ronin chain to provide critical real-time data to its developers. Ronin, the sidechain developed on Ethereum by Axie Infinity creators Sky Mavis, has been integrated with Covalent services to provide real-time data to its developers. On its Twitter account, Covalent reported that the integration of Ronin will facilitate the work of developers, who will be able to access critical data in real time to implement improvements and future updates to the popular blockchain game.
Rules and Regulations
📍US regulators outline the path to regulate the crypto market next year. The United States is preparing to regulate the growing cryptocurrency industry. The Federal Reserve (FED), the Office of the Comptroller of the Currency (OCC) and the United States Federal Deposit Insurance Corporation (FDIC) made a joint statement and launched the new roadmap for the regulation of cryptocurrencies in the country next year.
La declaration, published by the OCC, outlines new guidelines to promote and ensure security, stability and clarity in financial activities related to cryptocurrencies. US regulators conducted a previous study to understand the role and participation of banks in the crypto industry and now plan to require these entities to register with the OCC, in order to request its approval before beginning to operate or custody cryptoassets.
📍The Securities and Exchange Commission (SEC) opens an investigation against Marathon Digital Holdings. The largest bitcoin mining company in the United States, Marathon Digital Holdings, is now under investigation by the SEC. Apparently the regulator is doing research Marathon's plans to build a new crypto mining center in Hardin, Montana, to learn if any violations of federal securities law have occurred. Marathon confirmed the investigation and assures that it is collaborating with the US regulator in everything necessary. So far, the SEC has requested documents and communications regarding the Bitcoin mining company's new facilities.
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