CoinSmart Crypto Recap July 6, 2023

crypto recap

Welcome to the CoinSmart crypto recap. Let’s look at the hottest stories that came up this past week. Here is an overview:

  • BlackRock CEO praises Bitcoin in TV appearance.
  • Celsius and ex-CEO are in deeper trouble
  • Coca-Cola and Solana NFT platform team up.

BlackRock CEO praises Bitcoin in TV appearance

In a recent interview with Fox Business, Larry Fink, CEO of BlackRock, has highlighted the potential of cryptocurrency, specifically bitcoin (BTC), to transform the financial system. He suggested that Bitcoin could revolutionize finance through the tokenization of assets and securities, despite having previously expressed skepticism about the asset class’s use for “illicit activities.” Fink now views Bitcoin as an international asset that could serve as an alternative investment, similar to gold, against inflation and other economic issues.

Celsius and ex-CEO are in deeper trouble

Celsius, the collapsed crypto lender, and its former CEO, Alex Mashinsky, are facing serious allegations of violating US regulations, as per investigators from the Commodity Futures Trading Commission (CFTC). After a thorough investigation, the CFTC’s enforcement division reportedly found that Celsius engaged in misleading practices and failed to register with the regulatory body, and Mashinsky violated several regulations. If these findings are endorsed by a majority of CFTC commissioners, Celsius could face a case in US federal court as early as this month. Neither Celsius nor Mashinsky have issued statements about these allegations.

Coca-Cola and Solana NFT platform team up.

Coca-Cola has partnered with Solana NFT platform SolSea for a non-fungible token (NFT) offering at a music event, the EXIT Festival, in Serbia. The partnership will allow Coca-Cola to give away 100 limited-edition hoodies, along with NFTs, to some attendees. NFT infrastructure protocol All.Art is facilitating this initiative, which will use a tool called “Magic Mirror” to create 3D images of random merchandise on users. The collection of NFTs has been split into batches, with some available for purchase at the festival and others exclusively reserved for high-value ticket holders.

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