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German fintech 21X has received regulatory approval to operate a blockchain-based trading and settlement system, under the framework of the European Union’s DLT Pilot Regime. The license, granted by BaFin, allows the company to launch a platform for tokenized financial instruments from its headquarters in Frankfurt, with a launch planned for the first quarter of 2025.
This new service includes tokenization, issuance, distribution, listing and trading of financial assets, marking a significant advance in the adoption of blockchain technologies in capital markets.
According to 21X CEO Max Heinzle, this platform will allow institutional and retail investors to trade tokenized securities. Under a regulated framework and with high security and compliance standards, comparable to traditional markets.
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The company has collaborated closely with Polygon Labs to leverage its blockchain technology to ensure the scalability and security of on-chain transactions. It is also supported by partners like Apex Group and SBI Digital Markets in building its infrastructure.
Coinbase cuts ties with law firms that hire anti-crypto officials
Coinbase CEO Brian Armstrong announced that the company will not work with law firms that hire former officials involved in what they describe as actions against the Cryptocurrency sector during their time in government.
Armstrong highlighted in a post on Grewal, during his tenure, promoted more than 100 regulations aimed at the digital asset industry, which Armstrong called measures an attempt to “illegally kill” the sector.
We’ve let all the law firms we work with know, that if they hire anyone who committed these bad deeds in the (soon to be) prior administration, we will no longer be a client of theirs.
Senior partners at these law firms seem unaware of the crypto industry’s position on this.… https://t.co/k8R6NtfTV1 pic.twitter.com/RT0k408i9f
— Brian Armstrong (@brian_armstrong) December 3, 2024
The CEO urged the crypto community to inform their legal advisors about the implications of hiring figures with hostile backgrounds toward cryptocurrencies. Emphasizing that this could cost.
Arthur Hayes calls to revive the golden era of ICOs with a community approach
Arthur Hayes, co-founder of BitMEX, has published a manifesto titled “How to Make ICOs Great Again,” in which he criticizes the current state of funding in the crypto ecosystem.
According to Hayes, the industry has succumbed to the dominance of centralized exchanges (CEX) and venture capital (VC) funds, marginalizing retail investors and weakening the decentralized ethos that defined the early days of cryptocurrencies.
In his analysis, Hayes denounces that many projects debut with inflated valuations and limited circulating supplies, prioritizing institutional interests over retail. According to him, this model has slowed down equitable access to investment opportunities and undermined one of the fundamental pillars of cryptocurrencies: empowering small investors and encouraging decentralization.
For Hayes, the initial rise of cryptocurrencies was underpinned by three key factors: resistance to the concentration of government and corporate power, the innovation of blockchain technology, and the search for significant returns by retail investors. Contrast this egalitarian spirit with the exclusivity of VC-backed projects, highlighting how meme coins have managed to return some of that lost accessibility by relying on community virality.
Yuga Labs acquires Tokenproof’s technological team to enhance the usefulness of NFTs
Yuga Labs, creator of the popular Bored Ape Yacht Club (BAYC) and ApeCoin, has announced the acquisition of the technological team of Tokenproof, a Web3 platform specialized in the verification of ownership of non-fungible tokens (NFT).
The founder of Tokenproof, Fonz O, confirmed that part of his team will join The Workshop, the research and development division of Yuga Labs, recently inaugurated to promote projects such as Otherside, a gamified Metaverse.
Greg Solano, co-founder of Yuga Labs, highlighted the previous collaboration with Tokenproof. Noting that this technology has facilitated the practical usefulness of NFTs in real-world experiences, such as events and festivals. The company plans to make NFTs “more accessible and fun,” reinforcing its vision of connectivity between the digital and physical world.
Exciting news! I’m pleased to announce that Yuga Labs has acquired tokenproof’s technology, and part of our talented team has transitioned to Yuga Labs.
When we started tokenproof, our mission was to provide a secure way for crypto users to unlock utility of their tokens,…
— Fonz ᵍᵐ🍌 (@FonzGm) December 2, 2024
The acquisition has been well received by the community. Highlighting Tokenproof’s impact on integrating real features for BAYC NFT holders.
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