Welcome to another edition of Crypto NFT Today! This past week has been full of must-know events that will be defining points for the future of blockchain, cryptocurrency, and NFTs.
With a new self-custodial wallet added to Telegram, OneCoin co-founder’s imprisonment for fraud, Binance.US CEO stepping down from his role, and more, this week is packed with essential news you should know. So, let’s dive in and see what’s happening!
Self-Custodial Crypto Wallet Added to Telegram
The famous chat app Telegram, which has over 800 million monthly active users, has launched a new self-custodial crypto wallet called TON Space. The announcement was on Sept. 13, at Singapore’s Token2049 crypto conference with over 10,000 attendees.
This new addition is said to help solidify the crypto community who uses the app and even encourage non-crypto app users to jump on the bandwagon. After the initial announcement, TON’s price has grown by 13%, according to reports.
OneCoin Co-founder Sentenced to Prison for Fraud
On Sept. 12, the U.S. Department of Justice announced that Karl Sebastion Greenwood, the co-founder of OneCoin, was sentenced to 20 years in prison for his involvement in a fraud that deceived more than a million investors worldwide and losses greater than $4 billion.
U.S. Attorney Damian Williams states, “As a founder and leader of OneCoin, Karl Sebastian Greenwood operated one of the largest fraud schemes ever perpetrated. Greenwood and his co-conspirators, including fugitive Ruja Ignatova, conned unsuspecting victims out of billions of dollars with promises of a ‘financial revolution’ and claims that OneCoin would be the ‘Bitcoin killer.’ In fact, OneCoins were entirely worthless, and investors were left with nothing, while Greenwood lined his own pockets with over $300 million.”
Binance.US CEO Brian Shroder Steps Down
CEO Brian Shroder of Binance.US stepped down from the company on Sept. 12 and was replaced on an interim basis by Chief Legal Officer Norman Reed. In addition, Binance.US has reportedly eliminated one-third of its workforce, which is more than 100 positions.
A Binance.US representative states, “The actions we are taking today provide Binance.US with more than seven years of financial runway and enable us to continue to serve our customers while we operate as a crypto-only exchange.”
Texans Launch the Crypto Freedom Alliance of Texas
The Crypto Freedom Alliance of Texas was launched on Sept. 11 by a group of blockchain and crypto organizations: Brain Capital Crypto, Coinbase, Ledger, Paradigm, Blockchain, Capital, and a16z crypto.
This new alliance will advocate for understandable and consistent regulations of digital assets in Texas. In addition to advocating, the Crypto Freedom Alliance of Texas will provide education about crypto policies, foster collaboration, and support innovation with all things Web3 technologies.
Coinbase Said to Integrate Bitcoin Lightning Network
CEO Brian Armstrong of Coinbase announced that the exchange will integrate the lightning network for support. With this new addition, Coinbase has a network that solves slow transaction processes and allows for faster payments.
While there has not been a specific timeline for this new Coinbase implementation, Armstrong did ask for patience from the crypto community as this new addition is in the process.