What Happened in the Web3 World This Week?
The anticipated development has occurred: SEC Chairman Gary Gensler has announced his resignation. With this news, Bitcoin's momentum toward $100,000 has gained speed.
SEC Chairman Gary Gensler Announces Resignation, Bitcoin Eyes $100,000
SEC Chairman Gary Gensler has announced that he will step down from his position on January 20, 2025. Known for his strict stance toward the crypto market during his tenure, Gensler expressed gratitude to his staff and President Joe Biden in his resignation statement. Following the announcement, Bitcoin surged past $99,000, marking a new all-time high. Ethereum and numerous altcoins also posted double-digit gains.
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Play Ventures Raises $140 Million Fund for the Gaming Industry
Singapore-based Play Ventures has raised a new $140 million fund to invest in early-stage gaming startups. Fund III will focus on mobile games, AI-powered tools, and interactive applications. The company plans to invest in 20-25 early-stage companies.
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Solana Hits All-Time High on Coinbase
Solana reached an all-time high of $264.31 on Coinbase. SOL has gained 160% since the start of 2024, fueled by major firms like Bitwise and VanEck filing for spot Solana ETFs.
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4th Decentraland Music Festival Kicks Off
The 4th Decentraland Music Festival is taking place from November 20-23, 2024. Featuring DJs like NGHTMRE, BLOND:ISH, and San Holo, the event connects music lovers worldwide through its global reach and Web3 technology.
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Russia Imposes 15% Tax on Crypto Transactions and Mining
Russia has approved a regulation imposing a 15% tax on crypto transactions and mining revenues. Miners will be able to deduct expenses from their taxable income, while transactions will be exempt from VAT. The regulation aims to balance interests between the government and the private sector.
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Mastercard and JPMorgan Integrate Blockchain Payment Solutions
Mastercard has integrated its Multi-Token Network (MTN) with JPMorgan’s Kinexys Digital Payments platform to offer faster transaction solutions. This collaboration provides customers of both platforms with speed and transparency in cross-border payments through a single API. Kinexys, a blockchain platform powered by JPM Coin, digitizes payment processes. With this integration, Mastercard and JPMorgan aim to drive innovation in blockchain-based payment systems.
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El Salvador President Nayib Bukele Shares Bitcoin Holdings
El Salvador President Nayib Bukele revealed the country’s Bitcoin holdings on his Instagram account. The post highlighted El Salvador’s successes with its Bitcoin investments, creating a significant buzz within the crypto community.
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Justin Sun Pays $6.2 Million for Banana Tape Artwork
TRON founder Justin Sun purchased Maurizio Cattelan's controversial "banana taped to a wall" artwork for $6.2 million at a Sotheby’s auction. Sun noted that the purchase serves as a bridge between the art and crypto worlds and stated that he plans to eat the artwork himself.
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