snavamo

@snavamo

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it’s been so long since i was last in hong kong back and loving the energy and the vibes

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Web3 Update – May 4, 2025 •CertiK partners with Hong Kong to enhance Web3 security •Apple eases crypto app restrictions, signaling a shift toward Web3 adoption. •Zora’s airdrop faces backlash, raising concerns in the creator economy

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SBI VC Trade’s news marks a significant development of stablecoin regulations in Japan after the country reportedly lifted the ban on foreign stablecoins in 2023.

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“SBI VC Trade has become the first and only company in Japan to obtain a so-called stablecoin license,” he wrote, adding that the firm will continue to work toward full USDC support.

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SBI VC Trade CEO Tomohiko Kondo took to X on March 4 to confirm the news, stating that the platform had received a notification from the Kanto Regional Financial Bureau’s Tokyo office regarding the registration of an electronic payment instrument trading business operator.

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In an interview with Cointelegraph’s Turner Wright during the ETHDenver Conference, Liao pointed to the Securities and Exchange Commission’s (SEC) lack of cohesive policy as the industry’s primary challenge. The CEO said:

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Criminals are abandoning Bitcoin in favor of stablecoins because they offer speed, liquidity and regulatory blind spots that make illicit transactions easier to execute and harder to trace. Unlike Bitcoin, which can experience longer confirmation times, stablecoins provide near-instantaneous transactions and US dollar-pegged stability.

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What all these companies have in common is they see the “proven profitability demonstrated by established [stablecoin] players” and recognize the “opportunity to provide better payment rails for their users, especially for remittances, while avoiding traditional fee structures.”

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Jupiter, a decentralized exchange on Solana where the rug pull happened, said that the launch of a Milei-endorsed memecoin was an open secret in memecoin circles. Jupiter has begun a probe, and a Meteora co-founder has resigned as a result of the fallout.

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That memecoin, which involved promotion from Argentine President Javier Milei, became synonymous with a space that is stacked against retail investors who suffer from not having the advantages of inside information. The rug pull, which netted the team behind the token over $100 million, cost investors over $251 million after the token was pumped and then dumped.

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Although allegations of insider trading in crypto have been part of the general discourse for years, the discussion has reached a fever pitch since Feb. 14 amid the fallout from the LIBRA memecoin.

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The new group will use its experience to combat misconduct as it relates to “securities transactions” in areas such as fraud committed with emerging technologies, the use of social media and false websites to perpetuate fraud, and specifically, “fraud involving blockchain technology and crypto assets.”

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“The unit will not only protect investors but will also facilitate capital formation and market efficiency by clearing the way for innovation to grow,” acting SEC Chair Mark Uyeda said in a statement. “It will root out those seeking to misuse innovation to harm investors and diminish confidence in new technologies.”

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Stock market index provider FTSE Russell is broadening its indexing capabilities to include digital assets and onchain data, a move the company said reflects growing institutional interest in cryptocurrencies.

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In response to the backlash, Finzer addressed concerns on X, stating that OpenSea had not forgotten the “OGs” who helped build the platform, though he did not provide further details.

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NFT trader Beanie argued that the decision alienates those who had generated significant trading fees for OpenSea, accusing the platform of neglecting its early supporters. The trader urged the community to send the token to zero when it launches.

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Meanwhile, users who have accessed the platform reported that the NFT marketplace does not offer retroactive points for their old users. This means that everyone who uses the new platform starts from scratch.

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One community member said that the platform prioritized its NFT holders over its users. NFT trader TylerD was frustrated over not having access to version 2 of the platform because of not having a Gemesis NFT. The NFT collector claimed to have over $10 million in lifetime trading volume on the platform.

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When OpenSea finally released the private beta access to its NFT holders, users expressed their dissatisfaction on X about who can access the platform and how it plans to give points to users for an upcoming airdrop.

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On Dec. 15, speculation on a potential airdrop from OpenSea intensified as the platform registered its business in the Cayman Islands, leading some to speculate this move was a step toward facilitating a token airdrop.

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