Crypto NFT Today: The Latest Blockchain, Cryptocurrency and NFT News: 3-9 August 2022
Welcome to another edition of Crypto NFT Today! If you like cryptocurrency, NFTs and riding emotional roller coasters, this is the place to be.
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Robinhood fined $30 million for regulatory violations
Stock and crypto exchange platform Robinhood has been fined $30 million by the New York State Department of Financial Services (NYDFS).
The fine targets the crypto-trading unit of Robinhood for alleged violations of anti-money laundering and cybersecurity regulations, the Wall Street Journal reported Tuesday. This is the first time the regulatory body has incurred a fine related to cryptocurrency.
A NYDFS report says Robinhood Crypto LLC failed to maintain and certify compliant anti-money laundering and cybersecurity programs. Robinhood shares fell 1% Tuesday on the news.
In 2021, the trading firm was fined $70 million by the Financial Industry Regulatory Authority (FINRA), the largest fine ever issued by FINRA, for failing to protect clients.
Ethereum founder announces next stages
There are several key takeaways from July’s Ethereum conference in Paris, where Ethereum founder Vitalik Buterin laid out the framework for the blockchain going forward.
The Ethereum Merge, a long-awaited upgrade that will complete Ethereum’s transition from a proof-of-work (PoW) to a proof-of-stake system, is set to take place in September, but Buterin announced that after the merger, Ethereum will only be approx. 55% complete.
After the completion of five phases, referred to as the merge, surge, edge, purge and splurge, Ethereum will be able to process 10,000 transactions per second.
New report projects significant growth in metaverse market share
A new report from technology research and advisory firm Technavio reveals that Metaverse’s market share is set to exceed $50 billion by 2026.
The growth was analyzed from 2021 to 2026, and the results show that the market growth has acceleration estimates of a CAGR of almost 21%. This year alone, growth is estimated at 20.11%.
The North American region is estimated to account for 32% of growth, with Canada and the United States leading the way. Other important consumer countries include China and Germany.
Istanbul Fair Center will host the first blockchain tech fair in Turkey on December 22-25. All players operating in the sector around the world will have their first chance to meet in Istanbul.
Blockchain Expo World will bring together all players in Metaverse, Cryptocurrencies, NFTs, Web3, Mining, DAO, DeFi and GameFi, and give attendees a chance to hear from world-renowned speakers.
The event will happen simultaneously physically and in the Metaverse. This aspect will make the exhibition a pioneer in Turkey, allowing people to attend the fair from anywhere in the world.
Ethereum: Buy Now or Wait?
