March 20, 2024
5 min read

CryptoSpend Roundup - Weekly Newsletter (20 Mar 2024)

George Chen

Welcome to the 8th edition of CryptoSpend Roundup, your trusted newsletter for the latest, up-to-date and insightful crypto news. As the crypto landscape continues to evolve at a rapid pace, our mission is to keep you informed about some of the latest developments, market trends, and opportunities.

​Before we get into the news, here are the current market prices for our listed currencies:

With that out of the way, let's get into the news!

Immutable and Polygon Launch $100M Fund to Invest in Blockchain Games

Immutable, a blockchain game publisher, has established a $100 million fund named the "Inevitable Games Fund" (IGF) to invest in blockchain gaming projects. The fund is a joint initiative with contributions from venture capital firm King River Capital and Polygon Labs. The fund has already begun investing in seven blockchain game titles that are native to ImmutableX or Polygon platforms. These include games like Pixelmon, Guild of Guardians, Metalcore, and My Pet Hooligan, covering various genres such as fantasy role-playing and shooter games. Full article.

MicroStrategy's Bitcoin Holdings Surpass 1% of Total Supply with $600 Million Acquisition

MicroStrategy, the business analytics firm, has bolstered its Bitcoin holdings with an additional purchase of 9,245 BTC, bringing its total to 214,245 BTC, valued at approximately $13.6 billion, or over 1% of Bitcoin’s total supply. Despite a temporary flash crash of Bitcoin's price on the Bitmex exchange, which saw the cryptocurrency briefly plummet, Saylor remains bullish on Bitcoin, emphasizing that MicroStrategy has no intention of selling its holdings and views Bitcoin as "the exit strategy. Full article.

SEC Moves to Classify Ether as a Security

The U.S. Securities and Exchange Commission (SEC) is actively issuing subpoenas to companies as part of a campaign to potentially classify Ethereum's native cryptocurrency, Ether (ETH), as a security. This move follows an investigation into the Ethereum Foundation, which is suggested to have begun after Ethereum's transition to a proof-of-stake model in 2022. Should the classification pass, it could lead to a conflict with the U.S. Commodity Futures Trading Commission (CFTC), which has previously indicated that it views Ether as a commodity. Full article.

Activision Blizzard's Twitter Compromised to Promote Unaffiliated Meme Coin

The official Twitter account of Activision Blizzard, the company behind popular games like Call of Duty and Diablo, was hacked and used to promote a Solana-based meme coin, falsely claiming it to be an official Activision Blizzard token. Fortunately, the scam did not attract many victims, with only $16,000 traded across fewer than 500 transactions, and the token's value has plummeted by 99.9% since its initial pump. Full article.

Apple Co-Founder Triumphs Over YouTube in Legal Battle Over Bitcoin Scam

Apple co-founder Steve Wozniak has recently succeeded in an appeals court, overturning a previous ruling that protected YouTube from liability in a case where his likeness was used in fraudulent Bitcoin scam videos on the platform. This ruling allows Wozniak to proceed with his lawsuit against YouTube and could signal a shift in how federal law protects video streaming platforms from liabilities associated with user-uploaded content. Full article.

And that's a wrap!

That's all for this week's edition of CryptoSpend Roundup. We hope you found the information valuable and that it helps you stay ahead in the ever-changing crypto landscape.

If you have any suggestions or feedback for us, please feel free to reach out to our team :)

Happy CryptoSpending!

**All information in this article is for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained herein shall constitute a solicitation, recommendation, endorsement, or offer by CryptoSpend to invest, buy, or sell any coins, tokens, or other crypto assets. Any descriptions of CryptoSpend products or features are merely for illustrative purposes. Past performance is not a guarantee or predictor of future performance. The value of crypto assets can increase or decrease, and you could lose all or a substantial amount of your purchase price. It is essential for you to do your research and due diligence to make the best possible judgement, as any purchases shall be your sole responsibility.

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