U.S. Bankruptcy Judge Michael Wiles has given the green light to Binance.US' $1B Voyager Digital acquisition deal. As part of the approval, the bankrupt crypto lender will be able to proceed with its sales agreement with Binance.US, the U.S. arm of the world's largest crypto exchange by trading volume. More: - The deal mainly paves the way for Binance.US to buy the assets of Voyager.
- The acquisition will also allow Voyager's investors to be compensated 50-73% of their holdings by applying for a refund through the Binance.US platform.
- The sale will result in a $100M larger gain for customers than a possible liquidation.
- While commenting on the objections, Judge Wiles said even the U.S. Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) are not sure whether the sales deal would create legal issues.
- Following the approval, Peter M. Aronoff, a lawyer for the DOJ, stated that they are considering an appeal against the decision.
Zoom Out: - In February, the SEC filed a second objection to the billion-dollar acquisition deal, citing that the transaction could include the sale of unregistered securities.
- The U.S. regulator pointed to the ongoing scrutinization of Voyager's native token, VGX, as one of the reasons for the objection.
- The U.S. Federal Trade Commission (FTC) and the New York State's Department of Financial Services (NYDFS) also filed separate objections to the deal.
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Coinbase has launched a wallet-as-a-service (WaaS) solution for businesses to allow them to offer Web3 wallets to their clients. The U.S.-based crypto exchange hopes the move will increase the adoption of Web3 products and services that was hindered mainly due to the complexity and poor user experience. More: - Coinbase’s new solution enables enterprises to build and launch customizable on-chain wallets by providing the technical infrastructure.
- The wallets created through this solution allow for simple customer onboarding, participation in loyalty programs, and in-game purchases.
- The WaaS toolkit also allows multiple parties to compute a function together without disclosing their inputs to one another.
- The system splits private keys into multiple parts and distributes them among the parties involved in the protocol, increasing the security of storing digital assets.
- Patrick McGregor, the head of product at Coinbase’s Web3 Developer Platforms, said Coinbase’s WaaS offers control over end-to-end product experiences, reduces implementation costs and complexity, and helps businesses improve security while lowering risks.
- The current clients of Coinbase’s WaaS solution include Floor, Moonray, thirdweb, and tokenproof.
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Sotheby's, one of the world's largest auction houses, has auctioned off an NFT collection to celebrate International Women's Day, March 8. The NFTs were created in collaboration with the digital art collective UnicornDAO. More: - The collection includes works from both traditional and Web3-native women artists such as Marina Abramović, Cindy Sherman, Jenny Holzer, Ellen Von Unwerth, Olive Allen, Latashá, Jen Stark, and Nadya Tolokonnikova.
- The "My Body, My Business" auction will close on March 14.
- Some proceeds will go to philanthropic women's organizations, including Planned Parenthood supporting women's reproductive health.
- Endaoment, a crypto donations platform, has built a wallet address, PPFA.eth, to direct further donations.
Zoom Out: - UnicornDAO was founded in 2022 as a collective that aims to support women and LGBTQ+ NFT creators.
- In May 2022, the collective secured $4.5M in funding to increase the number of NFT projects doing social good in its portfolio.
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Crypto exchange Crypto.com has added support for Apple's payment service, Apple Pay, for Brazilian customers who use its prepaid debit card issued with Visa. The integration will allow users to pay in stores and online shopping platforms with Apple devices, including iPhone, iPad, Mac, and Apple Watch. More: - To enable the integration, users must simply add their Crypto.com Visa Cards to Apple Pay by selecting the "Add to Apple Wallet" option on the Crypto.com app.
- Crypto.com's Visa card gives users 5% cashback on their purchases.
- The cashback is given in CRO, Crypto.com's native token, that can be exchanged for other crypto or fiat currencies.
- The crypto exchange has more than 80 million users worldwide in over 90 countries, with options to buy and sell more than 250 cryptocurrencies using over 20 fiat currencies.
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A committee in the Missouri House voted 12-0 in favor of a crypto-mining protection bill with the support of both Democrats and Republicans. The Digital Asset Mining Protection Act prevents the state and political subdivisions from banning or halting the running of the crypto-mining nodes. More: - The act aims for crypto-mining companies to have the same rights as other businesses by law.
- With this move, the state wants to prohibit energy firms from imposing unfair tax rules on mining companies.
- The proposed legislation also requires the state to provide due notice before changing its crypto-mining regulations.
- The full Missouri House must approve the bill before sending it to the Senate.
Zoom Out: - The data from October 2022 showed that Foundry and Antpool, the U.S.-based mining pools, make up more than half of the global hash rate used to mine crypto.
- Texas is the mining hub of the country, with over 30 crypto-mining companies within its borders.
- In February, the Mississippi Senate also approved a legislative bill that legalized Bitcoin (BTC) mining in the state so that mining companies are not exposed to discrimination.
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AXA Investment Managers, the investment management arm of insurance giant AXA, was authorized to provide crypto services in its native France. The registration was announced by the country’s market regulator, Autorité des marchés financiers (AMF). More: - To be eligible, the firm needed to pass the controls related to governance and money laundering under French law.
- The checks were monitored by AMF.
- With this move, AXA Investment Managers joined Binance, Bitstamp, and Société Générale, which were registered as crypto services providers.
Zoom Out: - Crypto firms have been trying to register with the regulators before the European Union’s (EU) new crypto regulation, the Markets in Crypto Assets (MiCA), and the newly passed French regulation come into force.
- The firms already registered will be exempt from the stricter rules of these regulations.
- AXA Group has 95 million clients worldwide in 50 countries.
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- Binance has added support for the Polygon (MATIC) network to its NFT marketplace, in addition to BNB Smart Chain (BSC) and Ethereum (ETH).
- Mt. Gox trustee Nobuaki Kobayashi said the bankrupt crypto exchange's creditors have until March 10 to register for repayment.
- Twitter founder Jack Dorsey's digital payments services company, Block, has revealed plans to build a do-it-yourself "Mining Development Kit (MDK)" for developers to accelerate innovation in Bitcoin mining.
- DeFi protocol Maverick announced the launch of its decentralized exchange (DEX) on the Ethereum network.
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 |  | Doga is a tech and science editor who has been writing news for nearly 10 years. She worked for leading tech platforms and mainstrem media channels as an editor and presenter throughout his career. Then, she carried her know-how to more than one platform. She is a part-time cat lover and binge-watcher, and also fond of science, space, and emerging tech. She always has a story to tell. She is a bit addict to the laughter and -unfortunately- the '90s culture. |  | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 and 1972 Fords. | |
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