What the numbers say: Social trading app eToro’s popularity almost doubled briefly on AppStore after Elon Musk-led Twitter announced its partnership with the platform. The app jumped to the 221st spot on the ranking among other crypto apps in the finance category, up from the 404th spot one day before. In the subsequent days, the platform retreated to around 350. Relevance: On April 13, Twitter announced that it partnered with eToro to offer its users crypto and stock trading services. The integration allowed Twitter users to view market charts broadly and purchase and sell stocks, cryptocurrencies, and other financial assets from eToro. Brands that should care: Rival mobile app marketplace Google Play Store saw a similar increase in eToro’s popularity. The platform also rose from a low of 317th place in Google Play Store on the day the integration was announced, reaching 298th place within one day and peaking at the 231st spot on April 15. The platform has since protected its position in the levels of 200 on Google’s app store without major volatility, unlike on Apple’s AppStore.
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Speaking at a fintech conference in London, crypto exchange Coinbase CEO Brian Armstrong said the company could move its headquarters outside the U.S. if the regulatory environment does not change. The firm executive stated that anything is on the table while answering a question asking if they would consider moving the San Francisco-based company to the U.K. More: - Previously, Armstrong again publicly stated that U.S. authorities' approach to crypto regulations lacks clarity.
- At the conference in London, Coinbase's CEO reiterated that they do not see the clarity needed in the U.S., though the country has the potential to be an important market for the crypto industry.
- The platform executive added that the U.K. is the second-largest market of Coinbase in terms of revenue and is moving fast with crypto regulations.
- Around 300 employees are currently working at Coinbase's offices in the U.K.
- The firm also received permits from the U.K. Financial Conduct Authority, the country's financial regulator, in 2018 to operate as an e-money provider in the country.
- The company already has a significant presence and seeks a license in various European countries, including Germany, Ireland, Netherlands, Italy, Spain, and France.
Zoom Out: - Armstrong's statements came shortly after Coinbase was served a Wells notice by the U.S. Securities and Exchange Commission (SEC) about further action over a potential violation of securities laws through its exchange and staking services.
- A Wells notice refers to a letter sent by the SEC after an investigation to inform about a possible enforcement action and does not always result in charges.
- Several days before the Wells notice, Coinbase submitted an 18-page petition to the agency, explaining why staking cannot be universally considered securities.
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Peer-to-peer (P2P) crypto exchange Paxful’s co-founder and CEO Ray Youssef has stated that 88% of suspended accounts were unfrozen, freeing $1M of customer funds. The platform suspended its operations earlier in April after eight years, citing key staff departures and the current regulatory environment in the U.S. More: - Youssef said he was not authorized to unfreeze the remaining 12% currently controlled by the U.S. regulators.
- The company executive also pointed out that he stepped down from the CEO position to unfreeze the accounts.
- The outgoing CEO added that 3% of all customer funds, accounting for $4.4M, are still frozen and under the control of a custodian.
Zoom Out: - Youssef also recently faced Paxful co-founder Artur Schaback’s allegations in court.
- Schaback accused the company of involvement in misappropriating funds, money laundering, and evasion of U.S. sanctions.
- At the time of the allegations, Youssef claimed that Schaback sued Paxful because he was angry at the firm that fired him.
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Crypto exchange Bybit has announced that it would open its global headquarters in Dubai as part of its plans to strengthen its position in the Middle East and North Africa (MENA) region. The 16,000-square-foot open space will be located in One Central at the Dubai World Trade Center. More: - Bybit CEO and co-founder Ben Zhou said he is very excited about the new headquarters, adding that Dubai is well situated to benefit from the development of the digital economy, cryptocurrencies, and blockchain technology.
- The staff in the headquarters will be able to view the city's several iconic landmarks like the Burj Khalifa and the Museum of the Future.
- The new central offices will host various activities, including professional meet-ups, workshops, and sharing sessions on market insights and trends.
- The company will also hire local talents by training them through entrepreneurial initiatives such as hackathons and educational programs.
- Bybit has become one of the first companies to receive in-principle approval from Dubai's Virtual Asset Regulatory Authority (VARA) to operate in the country.
Zoom Out: - The popular crypto exchange also recently announced that its user number increased by 50%.
- The firm plans to double its trading volume in the MENA region by the end of the year.
- Crypto.com and Binance similarly received in-principle approval from Dubai's market regulator.
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Business intelligence company MicroStrategy's Bitcoin advocate executive chairman, Michael Saylor, has recently integrated Bitcoin's Layer-2 scaling solution, Lightning Network, into his corporate email address. The move allows anyone to send Bitcoin (BTC) to Saylor by using his work email. More: - The integration was first announced by the 58-year-old billionaire himself on Twitter.
- Saylor used The Lightning Address protocol to enable the integration.
- The protocol lets users substitute the internet identifiers, including email addresses, for a standard Lightning invoice or payment request without having to copy wallet addresses or use QR codes.
- The worldwide-known businessman, whose personal fortune is worth around $1.2B, said he has been receiving small BTC payments from followers since his Twitter post about the integration.
- The screenshot in the tweet has shown that donations were in the form of Satoshis, or 1/100,000,000 of a full Bitcoin.
- Saylor has yet to disclose whether they integrate the feature into all corporate email addresses in the company.
Zoom Out: - Saylor and his company MicroStrategy are most famous for their Bitcoin-friendly approach.
- MicroStrategy most recently bought an additional 1,045 Bitcoin for around $29.3M, taking its Bitcoin reserve to 140,000.
- Statistics have shown that the firm briefly returned to profitability from its Bitcoin purchases due to the recent upward trend in the leading cryptocurrency's price that was freed from the steady decline throughout a prolonged crypto winter.
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Popular sportswear brand Nike announced that it would release its first NFT sneaker collection dubbed Our Force 1 (OF1) on its Web3 community platform, .Swoosh, as attribution to its iconic Air Force 1 sneaker. The collection will be put up for sale for the entire .Swoosh community on May 10. More: - Some users will be able to get early access to the sale on May 8 through the posters airdropped by Nike as of April 18.
- Users will be able to pick one out of two digital boxes dubbed the Classic Remix and the New Wave.
- Each box will contain different designs, including the one co-created by four Nike fans in January.
- There will also be a 3D file featuring each NFT to allow the holders to express themselves in different ways.
- The packages will cost $19.82 in remembrance of the year the Air Force 1 sneaker was first released.
Zoom Out: - The beta version of the .Swoosh platform was first made available in November of last year.
- At the time, Nike said the items sold on the platform could be worn in video games and metaverse experiences, and the platform members would be able to earn royalties from sales by creating their own collections.
- As part of a contest with a $5,000 prize held by Nike in January, some community members created a visual storyboard on Instagram to showcase their own sneaker design ideas, and the winning design was used within the new collection.
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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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