NewsBriefs - Flyfish Club settles with SEC for $750K over NFT membership sales

Sep 16, 8:14 PM Blockworks

Flyfish Club settles with SEC for $750K over NFT membership sales

Flyfish Club, set to open in Manhattan, settled with the SEC for $750K over alleged violations related to NFT membership sales. The company must destroy all Flyfish NFTs, stop accepting royalties, and pay the penalty by September 26. The SEC claims Flyfish led investors to expect profits from the club's management and potential NFT resale. SEC Commissioners Peirce and Uyeda dissented, arguing the NFTs were utility tokens, not securities. The club is still scheduled to open on September 20, with standard memberships now available.

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• Oct 7, 4:13 AM Metaplanet

  Metaplanet buys another ¥1 billion worth of BTC

  Japanese company Metaplanet bought 108,786 Bitcoin for 1 billion yen, averaging 9,192,359 yen per coin. Their total holdings now reach 639,503 Bitcoin, valued at 59.65 billion yen. This follows a previous purchase of 107.91 Bitcoin on October 1. Metaplanet's long-term Bitcoin investment strategy mirrors approaches by MicroStrategy and El Salvador, aiming to profit from future price growth.

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• Oct 7, 2:58 AM Cointelegraph

  G7 antitrust authorities may take action on AI sector competition

  G7 antitrust watchdogs signaled possible enforcement action to protect AI sector competition. They aim to reduce bottlenecks hindering new entrants, prevent collusion between AI firms, and address concerns about copyright, consumer protection, and data privacy. The group emphasized fair competition, interoperability, and open technical standards to promote innovation and prevent market concentration in AI.

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• Oct 6, 7:11 PM The Block

  US aims to seize $2.7 million from North Korean crypto hacks

  The US is seeking to seize $2.67 million in crypto stolen by North Korea's Lazarus Group from Deribit and Stake.com hacks. Funds were traced through mixers like Tornado Cash, Sinbad, and Yonmix. Hackers converted stolen assets to USDT and Bitcoin, using cross-chain bridges and mixers to obscure transactions. Law enforcement froze some funds but the majority was successfully laundered. Despite improved tracing capabilities, Lazarus Group remains active in crypto hacks.

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• Oct 5, 5:00 PM LinkedIn

  MicroStrategy looking to hire Bitcoin Advocacy Manager

  MicroStrategy, the top corporate Bitcoin holder, is hiring a Manager of Bitcoin Advocacy to lead initiatives and corporate adoption strategies. The role involves overseeing an annual Bitcoin conference, driving education efforts, and solidifying MicroStrategy's position in the Bitcoin community. The manager will work across departments, leveraging partnerships and contributing to marketing campaigns. A DC-based hub for Bitcoin community interactions is also planned. The job posting has received 37 applications so far.

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• Oct 3, 9:52 PM Reuters

  IMF urges El Salvador to strengthen Bitcoin oversight and regulation

  The IMF has again called on El Salvador to strengthen its regulatory framework and oversight of Bitcoin. The organization recommends narrowing the scope of the bitcoin law and limiting public sector exposure to crypto. This continues the IMF's longstanding concerns since El Salvador made Bitcoin legal tender in 2021. Despite these warnings, El Salvador currently holds 5892 BTC, worth about $345 million. President Bukele claims the country's Bitcoin strategy has been "net positive" despite lagging adoption.

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• Oct 3, 12:31 PM Cointelegraph

  Visa unveils tokenized asset platform for digital asset management

  Visa introduced the Visa Tokenized Asset Platform (VTAP) for issuing and managing fiat-backed tokens, including stablecoins and CBDCs. VTAP offers end-to-end infrastructure for minting, transferring, and settling digital assets on public and permissioned blockchains. Currently in sandbox phase with BBVA testing, VTAP aims for a live pilot on Ethereum in 2025, targeting institutional investors and central banks.

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• Oct 2, 3:20 PM Eric Balchunas

  BlackRock and Fidelity Bitcoin ETFs rank among top 10 biggest ETF launches this decade

  BlackRock's IBIT and Fidelity's FBTC Bitcoin ETFs have rapidly become two of the top 10 largest ETFs launched in the 2020s. IBIT overtook Grayscale's GBTC to become the largest spot Bitcoin ETF in the US, holding over $22 billion worth of Bitcoin. The success of these crypto-based funds highlights increasing mainstream adoption and investor interest in Bitcoin as an asset class.

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• Oct 2, 8:18 AM Beincrypto

  Australian police crack crypto wallet, seizes $6.4 million

  Australian Federal Police seized $6.4 million in crypto linked to a global crime syndicate as part of Operation Kraken. The AFP arrested Jay Je Yoon Jung, the suspected mastermind behind the encrypted communication app Ghost. A CACT analyst cracked the seed phrase from wallets on Jung's devices, enabling the fund recovery. The operation has led to 46 arrests, 93 search warrants, and the seizure of illegal firearms and drugs. This development highlights the ongoing challenge of cybercrime in the crypto industry, with attacks surging to $2.1 billion in 2024.

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• Oct 2, 2:07 AM Cointelegraph

  COPA and Unified Patents launch campaign against blockchain patent trolls

  COPA and Unified Patents have initiated the "Blockchain Zone" campaign to combat patent trolls in crypto. The initiative aims to protect blockchain firms from costly legal claims by non-practicing entities, which accounted for 58% of US patent litigation last year. The campaign covers NFTs, wallets, and smart contracts. Coinbase's legal chief emphasized the importance of stopping patent trolls to foster innovation in the crypto economy.

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• Oct 1, 11:30 AM Ripple

  Ripple secures DFSA approval for UAE market entry

  Ripple received in-principle approval from the DFSA to expand services from the DIFC. This allows Ripple to introduce cross-border payment services, including Ripple Payments Direct, in the UAE. As the first blockchain-enabled payment services provider licensed by the DFSA, Ripple aims to strengthen its global footprint and offer faster, cost-effective solutions. The approval aligns with UAE's vision to become a leading crypto and fintech hub. Ripple holds over 55 licenses worldwide and continues to prioritize regulatory compliance to support blockchain adoption in financial services.

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• Sep 30, 4:50 PM Bloomberg

  SoftBank plans $500M investment in OpenAI as part of larger funding round

  SoftBank's Vision Fund aims to invest $500 million in OpenAI's latest funding round which is expected to boost the company's valuation to $150 billion. OpenAI is seeking to raise $6.5 billion, with Thrive Capital leading and Microsoft participating. Other potential investors include Tiger Global, Coatue Management, Nvidia, and Dragoneer Investment Group. SoftBank's CEO has reportedly held talks with OpenAI's CEO and Jony Ive about a new AI-based personal device venture.

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• Sep 30, 10:30 AM Coindesk

  Bithumb considers US Nasdaq listing alongside South Korean IPO plans

  Crypto exchange Bithumb is exploring a US Nasdaq listing, expanding on previous plans for a South Korean IPO. The company told shareholders all listing possibilities are open, both domestic and international. This news follows earlier reports of Bithumb's intention to go public on Kosdaq in the second half of 2025, with Samsung Securities as the IPO manager. The exchange's potential Nasdaq listing signals a strategic shift in its public offering approach.

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• Sep 29, 4:00 PM Binance

  Binance unveils Explorer's Guide for Telegram mini-game Moonbix

  Binance has rolled out the Explorer's Guide for its Telegram mini-game Moonbix. The game offers daily free plays, point-earning opportunities, and tasks like check-ins and account binding. Players can earn points through gameplay, inviting friends, and completing tasks. The game's points determine rankings in the Moonbix Hall of Fame, with top-ranked users receiving rewards. Binance warns users about impersonation accounts and emphasizes following official channels for updates.

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• Sep 27, 1:47 PM Cointelegraph

  Trump backs new defi project WLFI amid skepticism and concerns

  Former US President Donald Trump is launching a DeFi protocol called World Liberty Financial (WLFI) and its token. The project faces skepticism from industry experts, with concerns about its impact on Trump's presidential campaign and the crypto sector's reputation. Critics warn of potential legal troubles and conflicts of interest, while supporters see it as a way to legitimize DeFi. The project's tokenomics and team composition have raised questions, with some calling it a potential pump-and-dump scheme. The launch timing and its implications for Trump's candidacy and the crypto industry remain contentious issues.

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• Sep 26, 2:04 PM Beincrypto

  Eigenlayer and restaking protocols gain prominence in defi space

  Restaking protocols like EigenLayer are gaining traction in the DeFi space, offering higher yields but introducing potential systemic risks. LRTs saw a 4,900% growth in TVL, surpassing $15 billion in 2024. While restaking maximizes returns, it also increases complexity and vulnerability. Experts warn of smart contract risks, liquidity challenges, and regulatory uncertainties. EigenLayer's dominance raises concerns about Ethereum's security. The long-term effects of yield optimization strategies remain uncertain, with potential for unforeseen issues in volatile markets.

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