March 3, 2024

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Crypto NFT Today: The Latest News in Blockchain, Cryptocurrency, & NFTs- November Week 4

Welcome to another edition of Crypto NFT Today! The past two weeks have been full of must-know events that’ll be defining points for the future of blockchain, cryptocurrency, and NFTs.

With the NHL embracing digital collectibles, the U.S. Treasury urging for international crypto reach, and more, there’s lots of essential news you should know about. So, let’s dive in and see what’s happening! 

The NHL Embraces Digital Collectibles

Like many other major sports leagues, the National Hockey League (NHL) is entering the world of digital collectibles. The NHL’s initiative, NHL Breakaway, was revealed in collaboration with Sweet, a platform allowing brands to create NFT collectibles using the Ethereum ERC-721 standard on Polygon and the Ethereum mainnet. The terms of the agreement between the NHL and Sweet have not been disclosed. 

US Treasury Urges for International Crypto Reach

The U.S. Department of the Treasury is advocating for more outreach in the cryptocurrency sector. Deputy Secretary of the Treasury Wally Adeyemo has presented a written proposal to senior members of Congress, describing it as “a set of common-sense recommendations to expand our authorities and broaden our tools and resources to go after illicit actors in the digital asset space.” The proposal aims to provide an opportunity for the government to extend its reach beyond U.S. borders and intervene in transactions not involving American citizens.

Binance CEO Request to Leave US Before Sentencing

Zhao resigned as Binance CEO on Nov. 22 after pleading guilty to willfully causing the cryptocurrency exchange to fail in maintaining an effective anti-money laundering program. Attorneys representing former Binance CEO Changpeng Zhao urged a U.S. judge to reject the Justice Department’s request to prevent his return to the United Arab Emirates until sentencing for violating anti-money laundering requirements. 

FTX Sues Exchange Platform Bybit

Bankruptcy advisers for FTX have filed a lawsuit against crypto exchange Bybit Fintech Ltd and its two corporate affiliates, hoping to recover approximately $953 million in cash and digital assets withdrawn from Sam Bankman-Fried’s crypto exchange before its Chapter 11 filing a year ago. Filed in a Delaware court, the lawsuit alleges that Bybit’s investment arm, Mirana Corp., enjoyed exclusive “VIP” benefits not available to most FTX customers. 

By Lindsey Feth

By Lindsey Feth

Managing Editor, Innovation & Tech Today

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