Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.
Top Stories This Week
Anonymous hacker served with restraining order via NFT
In what’s perhaps an industry first, an anonymous defendant in an exchange-hacking legal case has received a temporary restraining order via NFT. The defendant is part of legal proceedings surrounding the January 2022 LCX exchange hack. Two legal firms served the “service token” NFT to the defendant as a restraining order, with the event touted as the first official NFT usage in the legal world.
FTX will not freeze hiring amid layoffs at other crypto firms, CEO states
As the crypto bear market presses on, some industry players have chosen to reevaluate staff numbers, but not FTX. The derivatives exchange will continue to add personnel, according to CEO Sam Bankman-Fried. In contrast, recent weeks have seen Gemini decrease its employee headcount and Coinbase curb new staff pickups. The last major crypto bear market in 2018 was worse in terms of employee cuts, however.
Lummis-Gillibrand bill establishes SEC-CFTC balance of power over crypto markets
A new bill from U.S. Senators Kirsten Gillibrand and Cynthia Lummis, subject to appropriate approvals, aims to regulate the crypto industry on a number of levels under the shared watch of the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission. “Understanding that most digital assets are much more similar to commodities than securities, the bill gives the CFTC clear authority over applicable digital asset spot markets,” a government statement detailed. However, later comments from the two senators seem to contradict this view, with Lummis and Gillibrand seeing altcoins largely as securities.
Metaverse tokens up 400% year on year despite altcoin bloodbath
Although the overall crypto…