News - Optimisus

Dapper Labs, the company behind the popular non-fungible token (NFT) collection, NBA Top Shot, has been denied its request to dismiss a lawsuit alleging that the collection is an unregistered security.

1 year ago 1 min read

Court rejects Dapper Labs’ motion to dismiss NBA Top Shot securities case

Dapper Labs, the company behind the popular non-fungible token (NFT) collection, NBA Top Shot, has been denied its request to dismiss a lawsuit alleging that the collection is an unregistered security. District Judge Victor Marrero ruled that the NBA Top Shot collection appears to meet the requirements of a security under the Howie Test. The collection allows users to collect video highlights from the National Basketball Association in the form of NFTs called “Moments”. The lawsuit was filed in May 2021 by a plaintiff who claimed that the Top Shots collection violated securities law by not registering them with the

Voyager and FTX have reached an agreement on disputed loan payments worth $445 million

1 year ago 1 min read

Voyager Holding $445M in Alameda Loan Repayments Amid Court Order Uncertainty

Estates of cryptocurrency companies Voyager and FTX have reached an agreement on disputed loan payments worth $445 million, as revealed in Wednesday’s filings. Alameda Research, the trading division of FTX, filed a lawsuit in January to recover loan repayments made to Voyager before its own bankruptcy filing. As per the agreement, Voyager will retain the funds under dispute until a court order or final settlement is reached. In addition, Voyager will hold a $5 million deposit from FTX without distribution until the ownership of the deposit is settled. During the hearing, Voyager’s lawyers revealed that they were in the process

1 year ago 3 mins read

Leading Crypto Exchange MEXC Signs Strategic Partnership Agreement With Metacade

London, United Kingdom, 23rd February, 2023 Metacade has signed a strategic partnership agreement with MEXC, one of the world’s leading cryptocurrency exchanges. This follows the news that Metacade will list on Bitmart at the end of their presale. Founded in 2018, MEXC (also known as MEXC Global) is a rapidly-growing cryptocurrency exchange with more than 6 million users in over 200 countries, including the USA, Canada and Australia. MEXC is regularly featured as one the top exchanges globally for trading volume. The exchange offers one of the widest ranges of cryptocurrencies with over 1,500+ coins listed on the platform. This MEXC listing agreement is a significant development

New York Attorney General Letitia James has filed a lawsuit against crypto exchange CoinEx

1 year ago 1 min read

New York Sues CoinEx Crypto Exchange for Failure to Register with State

New York Attorney General Letitia James has filed a lawsuit against cryptocurrency exchange CoinEx for allegedly engaging in fraudulent practices by failing to register as a securities and commodities broker-dealer in the state. In a 38-page petition filed in the New York Supreme Court, James accused the exchange of listing tokens that qualify as “both commodities and securities” without registering with the Securities and Exchange Commission or the Commodity Futures Trading Commission. The lawsuit also alleges that CoinEx failed to comply with a subpoena by the Attorney General’s Office. The Attorney General is seeking a court order to stop CoinEx

Video game startup Kratos Studios raises $20M in seed round

1 year ago 1 min read

Kratos Studios secures $20M seed funding at $150M valuation

Kratos Studios, an Indian-based web3 gaming startup, has raised $20 million in a seed funding round at a valuation of $150 million. The funding round was led by Accel and included other investors such as Prosus Ventures, Courtside Ventures, Nexus Venture Partners, and Nazara Technologies. Kratos has also acquired IndiGG, a sub-DAO of Yield Guild Games DAO, through a token swap. Existing INDI token holders will be swapped to new Kratos tokens, which will be launched in 12 months. The acquisition will help Kratos continue to build the IndiGG brand as a gaming DAO. Kratos’s business model brings game developers

1 year ago 1 min read

Frax Finance Plans to Move Away from Algorithmic Backing in Response to Stablecoin Regulations

Frax Finance, a decentralized finance stablecoin protocol, has announced that it will fully collateralize its native stablecoin, Frax (FRAX), ending the algorithmic backing of the protocol. The FIP-188 governance proposal, posted on February 15, has now reached a quorum with 98% voting in favor, according to a snapshot on February 23. The initial protocol included a “variable collateral ratio” that adjusted based on the market demand of the stablecoin. The hybrid model resulted in the stablecoin being 80% backed by crypto asset collateral and partially stabilized algorithmically. The new proposal plans to retain protocol revenue to fund the increased collateral

1 year ago 2 mins read

Congressman Emmer Takes Aim at CBDC Surveillance with New Anti-Snooping Bill

Pro-crypto Republican Senator Tom Emmer is raising concerns about the potential American central bank digital currency (CBDC). Emmer, who hails from Minnesota, recently introduced the CBDC Anti-Surveillance Act to “halt efforts of unelected bureaucrats in Washington from stripping Americans of their right to financial privacy.” Emmer strongly opposes the idea of the Federal Reserve issuing a CBDC, which he believes will give the government unprecedented levels of financial control and surveillance capabilities, just like in China. The proposed legislation aims to prohibit the Fed from issuing a CBDC directly to anyone, from using it to implement monetary policy and control

This is not Ubisoft’s first venture into the Web3 world

1 year ago 1 min read

Ubisoft Expands Web3 Presence with Launch of Rabbids NFTs on The Sandbox

Ubisoft, the video game publisher behind popular franchises such as Assassin’s Creed and Just Dance, has released Rabbids NFT avatars for The Sandbox, an Ethereum metaverse game. This is not Ubisoft’s first venture into the Web3 world, as it previously released in-game NFT items for Ghost Recon Breakpoint. The Rabbids NFT avatars are being sold for 100 SAND, or about $78, each on the Ethereum scaling network Polygon. The sale is themed after the Lunar New Year, and buyers will get to see various designs on Friday. The avatars are a “key to future utility” in The Sandbox and provide

Tencent Cloud Unveils Plans for Web3 Adoption and Innovation

1 year ago 1 min read

Tencent Cloud Takes on Web3 with New Initiatives

Tencent Cloud, the Chinese tech giant, has announced a new suite of crypto-native partnerships and web3-based initiatives, signaling renewed optimism for cryptocurrency in China. The move positions Tencent Cloud alongside global tech firms like Google and Amazon, who have also made recent strides in the Web3 space. Tencent Cloud’s new Web3 investment includes blockchain-based APIs, ‘metaverse-in-a-box’ offerings, and more, and they will be working with crypto companies Ankr, Avalanche, Scroll, and Sui to develop a full suite of blockchain API services, build scalable solutions, and optimize infrastructure for Web3 gaming. SVP at Tencent Cloud International, Poshu Yeung, stated that Tencent

ConsenSys Strengthens Web3 Development Capabilities with Hal Acquisition

1 year ago 1 min read

ConsenSys Acquires Blockchain Notification Tool ‘Hal’ for Web3 Development

ConsenSys, the leading Ethereum development studio, has acquired Hal, a blockchain notification tool, to bolster its Web3 development capabilities. Hal’s technology allows users to create notifications for trading, governance voting, and tax compliance, among other things, by filtering through blockchain data. As part of the acquisition, more than 40 APIs for blockchain listening and signals will be added to ConsenSys’ popular Web3 connectivity layer, Infura. The APIs will make it easier to use tools like Infura for the evolving decentralized internet. The acquisition comes at an opportune time as the interest in lower-code and no-code tools has surged. Hal’s technology

Spotify Joins the Tokenization Race with New Playlist Test

1 year ago 1 min read

Spotify Explores Blockchain with Token-Based Music Playlists

Music streaming platform Spotify is piloting a new service called “token-enabled playlists,” which will allow non-fungible token (NFT) holders to connect their wallets and listen to curated music. Currently, the service is only available to token holders within the Fluf, Moonbirds, Kingship, and Overlord communities, with the curated playlists actively updated during the three-month testing period. The playlists can only be accessed by community members via a unique link. The pilot is currently limited to Android users in the U.S., U.K., Germany, Australia, and New Zealand. Spotify appears to have confirmed the details in a tweet reply. Universal Music Group’s

1 year ago 1 min read

Saudi Aramco Enters the World of Web3 Through Partnership with droppGroup

Saudi Aramco, the world’s largest oil producer, has signed a memorandum of understanding (MoU) with droppGroup to explore co-developing a range of Web3 technologies. The partnership aims to leverage blockchain technology to create innovative solutions for Aramco’s employees, including potential on-boarding, training ecosystems, tokenized networks, and rewards programs. The third generation of the internet, Web3, is driven by blockchain technology, and it has been gaining traction in various sectors, including finance, supply chain management, and social media. With the latest partnership, Saudi Aramco is joining a growing number of global corporations that are embracing blockchain technology to streamline operations, improve