Putin bans crypto payments, a district judge calls out the SEC for hypocrisy in the Ripple case, and South Park criticizes crypto celebrities. These stories and more this week in crypto.
Russia bans cryptocurrency for payment.
President Putin has signed a national ban on the use of digital assets for payment in Russia. Under the new law, digital assets cannot be considered for goods and services in the country. In a statement, the Kremlin said it does not want any “currency substitutes” to be used in place of the ruble.
The judge called out the SEC for hypocrisy
A federal judge in Manhattan has ordered the SEC to release documents related to its expert witnesses in a court dispute with crypto firm Ripple. The SEC’s attempts to shield its experts’ identities and opinions from any public view are unprecedented, and the judge described the agency’s continued efforts to do so as “hypocritical.”
Celsius files for loss
Troubled cryptocurrency lender Celsius Network became the latest to file for Chapter 11 bankruptcy. The record shows a $1.2 billion deficit on the balance sheet. This comes weeks after it banned user accounts, essentially locking out their funds. According to Celsius, the need for bankruptcy protection will help in the recovery process.
Crypto staff cuts continue.
OpenSea, the world’s largest NFTs marketplace, has announced that it will cut 20 percent of its workforce. The marketplace joins other crypto firms such as Coinbase, Gemini and Crypto.com in announcing staff cuts. CEO and co-founder Devin Finzer said the company had to prepare for the possibility of a prolonged downturn.
Polygon MATIC jumped on the Disney partnership
Polygon’s MATIC token is up nearly 30% after being selected as the only blockchain company for the Walt Disney 2022 Accelerator Program. Disney’s Business Development Program is designed to accelerate the growth of outstanding entertainment companies. This year, the program is focused on augmented reality, non-perishable tokens and artificial intelligence.
Playboy’s home in the Metaverse
Playboy Home is coming to Metaverse as the company has entered into a licensing partnership with The Sandbox, an Ethereum-based Metaverse project. “Metamansion” features NFT collectors, programmed events, social play and gaming experiences. Playboy entered the Web3 space last spring with a Genesis NFT drop featuring art from the Playboy archive.
The Swiss Post entered crypto
The Swiss Post office plans to create a crypto trading and security product following strong user demand. Available through PostFinance’s banking division, the service could be available as soon as 2024. PostFinance is not only the banking arm of the Swiss Post office, but also the fifth largest retail bank in Switzerland with over 2 million customers.
South Park Crypto Celebrities
A new episode of South Park takes aim at crypto promotions made by celebrities in the past year. The show spends most of its time on Matt Damon, referring to his widely circulated ad for Crypto.com, but FTX-backed tennis star Naomi Osaka and famous NFT investors such as Gwyneth Paltrow and Reese Witherspoon have also been sufficiently voiced in the animated series. crypto famous fry.
That’s what happened in crypto this week, see you next week.