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On Wednesday, U.S. dollar stablecoin issuer Tether said that it would not freeze smart contract addresses sanctioned by the United States Office of Foreign Assets (OFAC) Control’s Specially Designated Nationals and Blocked Persons (SDN) list for cryptocurrency trail-mixer Tornado Cash. In explaining the decision, Tether said: ”So far, OFAC has not indicated that a stablecoin issuer is expected to freeze …

The $74 million plan by two former Uniswap Lab executives for a new Uniswap Foundation has just become reality after their proposal received over 99% of the votes from Uniswap (UNI) holders. According to the initial proposal, the foundation aims to streamline Uniswap’s Grant Program (UPG) and reduce friction in the protocol’s governance system. Former Uniswap Labs executive Devin Walsh, …

Global confectionery giant Mars has teamed up with virtual metaverse band KINGSHIP to create limited edition boxes of M&M’s featuring content from the Bored Ape Yacht Club (BAYC). KINGSHIP is a group made up of three BAYC NFT hodlers and one Mutant Ape Yacht Club (MAYC) owner. As part of the deal, the avatars depicted in the nonfungible token (NFT) …

In this week’s newsletter, read about how the Metaverse is a catalyst for nonfungible token (NFT) adoption. Check out how GameStop’s NFT marketplace revenue dropped and how MTV added a metaverse award at the VMAs. In other news, learn about how Telegram’s founder has been floating the idea of integrating NFT-like smart contracts for Telegram usernames. And don’t forget about …

Ethereum co-founder Vitalik Buterin suggests the superiority of cryptocurrency for payments is often “underrated” compared to fiat, pointing to the convenience of international payments and payments to charities as key examples. Buterin made the comments in a Twitter thread on Wednesday, explaining that it’s not just resistance to censorship but also convenience that makes cryptocurrencies “superior” when it comes to …

A judge in the Netherlands ruled that Tornado Cash developer Alexey Pertsev has to stay in jail for 90 more days while waiting for charges. Puzzled by the decision, the crypto community rallied to demand the release of the developer. In a Tweet, crypto investor Ryan Adams argued that the developer did something good for the public as he wrote …

Graphics card giant Nvidia CFO Colette Kress says the company has been unable to estimate reduced crypto mining demand impacted its Q2 results, which fell short of analyst expectations on Wednesday. The chip giant released its financial results for the three months ended July 31, which revealed a 19% quarter-on-quarter drop in revenue to $6.5 billion, while net income fell …

A New York bankruptcy court has given embattled cryptocurrency brokerage Voyager Digital the green light to pay retention bonuses to key staff members. The firm filed a motion with the United States Bankruptcy Court on Aug. 2 seeking approval for its Key Employee Retention Plan (KERP) which entailed $1.9 million worth of payments to 38 key employees that have been …

A joint committee of the United States’s Uniform Law Commission (ULC) and the American Law Institute (ALI) finalized amendments to the Uniform Commercial Code (UCC), regulating the specifics of digital asset transactions and crypto-as-collateral secured financings. The amendments are “recommended for enactment in all the States,” although each case of final implementation may vary depending on the State. A final …