Welcome to another edition of Crypto NFT Today! The past two weeks have been full of must-know events that’ll be defining points for the future of blockchain, cryptocurrency, and NFTs.
With Mastercard partnering with MoonPay, Sam Bankman-Fried testifying in trial, lawmakers pushing the DOJ to investigate Tether and Binance, and more, there’s lots of essential news you should know about. So, let’s dive in and see what’s happening!
Mastercard Partners With MoonPay
On Oct. 25, the digital assets payment platform MoonPay announced it’ll begin a partnership with Mastercard. This collaboration will help advance web3 integrations, increase marketing tools, and build lasting connections.
MoonPay’s co-founder and CEO Ivan Soto-Wright shared his thoughts on this new partnership: “We’re excited to collaborate with Mastercard, a prominent supporter of Web3 and the digital economy, to redefine customer loyalty and engagement. Joining forces will create new opportunities to showcase blockchain’s potential in establishing unique connections and meaningful moments while broadening our industry’s overall reach.”
Sam Bankman-Fried Testifies in Trial
Sam Bankman-Fried, the founder of FTX, has been testifying in trial after being accused of stealing customer funds and transferring the money to the investment firm Alameda Research. Customers have lost lots of money after investing in Bankman-Fried’s cryptocurrency exchange, valued at $32 million.
In court, Bankman-Fried stated the following: “I didn’t ever try to commit fraud on anyone. I was excited about the prospects of FTX a month ago. I saw it as a thriving, growing business. I was shocked by what happened.”
Lawmakers Push the DOJ to Investigate Tether and Binance
On Oct. 26, the U.S. Department of Justice (DOJ) is feeling the pressure to investigate the criminal charges against Tether and Binance. Senator Cynthia Lummis and Representative French Hill sent a letter to Attorney General Merrick Garland, urging the DOJ to seek what role Tether and Binance had in crypto-funded terrorism that’s linked to the Hamas-Israel conflicts.
The official signed letters also request the DOJ to hold the companies accountable for violating the Bank Secrecy Act and similar laws. Now, the lawmakers are looking for a way to stop further funding to Hamas by cryptocurrency.
EU Plans to Use Digital Strategies to Improve Administration Processes
A new report by the European Union (EU) released on Oct. 25 explains it has a guideline for efficient networking, the Communications on Enhancing the European Administrative Space (ComPAct). This new approach is said to help modernize current and future partnerships.
The European Commission states the European public sector is “playing a trailblazing role in blockchain by building its blockchain infrastructure. Over time, this will include interoperability with private sector platforms.”