2 months ago 3 min read

Daily Coin Journal


Sorare and Premier League Launches Fantasy Football NFT

The Premier League and the French startup Sorare have agreed to a four-year license agreement. Given that the English football league is one of the most watched sports leagues in the world, this is a significant move for the corporation.

A fantasy sports game platform called Sorare uses non-fungible tokens, or NFTs. In order to produce trading cards featuring football players, Sorare has cooperated with many football leagues.


National Blockchain Research Center to be Launched in China

China continues to embrace blockchain technology despite its continued crackdown on cryptocurrencies, even going so far as to open the National Blockchain Technology Innovation Center in Beijing, the country's capital.

The center will establish a research network involving regional universities, think tanks, and blockchain firms to investigate fundamental blockchain technologies, according to a story from the China Daily from February 8. The outcomes of this study will be applied to advance China's digitalization and boost its blockchain sector.


Cryptocurrency Tracking System to be Adopted by South Korea in 2023

The "Virtual Currency Tracking System" will be used to keep track of past transactions, extract data about them, and verify the origin of funds both before and after transmission.

To combat money laundering schemes and reclaim cash associated with criminal activity, the South Korean Ministry of Justice revealed intentions to implement a crypto-tracking system.


In Light of Impending Summary Judgment, Ripple CEO Holds Positive Updates

XRP Lawsuit News: In light of heightened U.S. investigation of the cryptocurrency market, Ripple CEO Brad Garlinghouse gave some encouraging updates on Friday. Commission for Securities and Exchange (SEC). However, in the XRP action, both parties—Ripple and the U.S. SEC—are awaiting a summary judgment from the court.


Tether Reports $700 Million Profit

The largest stablecoin in the world's history, Tether, declared a fourth-quarter profit of $700 million and stated that it no longer holds any commercial paper as part of the reserves supporting its USDT currency.

Its interests were mostly in the United States ($39.2 billion). As of December 31, according to a BDO attestation, Treasury bills were outstanding. Money market funds, cash, and other assets made up the remaining $67 billion of its assets. According to a strategy to decrease secured loans to zero this year, they were cut by $300 million.


Kraken Probed by U.S. Securities Exchange Commission for Unregistered Security Sales

One of the largest cryptocurrency exchange, Kraken, is under investigation by the Securities and Exchange Commission (SEC) of the United States for providing unregistered securities to American investors.

According to those familiar with the situation, the probe has evolved to the point that Kraken will probably reach a settlement with the SEC soon.

The regulator is looking into whether the cryptocurrency exchange's services to American consumers violated any securities laws. The coins and offers under investigation are unknown since the matter has not been made public.


SBF Bailer Names Should be Published According to Judge

According to reports, Manhattan's Judge Lewis Kaplan decided that the identities of the two people who granted Sam Bankman-Fried (SBF) permission to reside at his parents' home in exchange for a $250 million bail should be made public.

A number of allegations, including fraud and money laundering, are brought against the former CEO of FTX. His trial is scheduled to begin on October 2, 2023.

According to a report by Reuters, Judge Kaplan sided with many media organizations who urged that the identities of those persons should be made public, including Bloomberg, CNBC, and The Washington Post.


XRP Price Stable Thru Market Crash; Is It Whale Effect?

As the prices of the two biggest cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), fell by more than 4% on Friday, the market for digital assets as a whole saw a sharp decrease. However, despite the market meltdown, Ripple's native coin, XRP, held steady while crypto whales continued to trade additional XRP tokens.

Crypto whales transferred more than 161 million (about $62 million) in several transactions during the last 24 hours, according to statistics from WhaleAlerts. The tracker's single greatest transaction was the transfer of 39 million XRP from the Bitso cryptocurrency exchange, which was roughly worth $15 million.


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Thanks for reading,

J.K. Tan
J.K. Tan
A crypto enthusiast who thinks that cryptocurrencies encourage people to act as their own banks. Fascination for blockchain and Web3 projects is his A-game.
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