Weekly Crypto Review 08.04.23

WEB3 UNPACKED

Welcome back everyone, it’s Friday August 8th, 2023, and this is your weekly Crypto review. Here are some highlights to bring you up to speed…

GameStop’s NFT wallet will shut down in November. It blames regulatory uncertainty of the crypto space.

Coinbase lawyers allege SEC "violated due process". The Securities and Exchange Commission has “violated due process” in suing Coinbase, according to the exchange’s legal counsel. Additionally, Coinbase to file order seeking dismissal of SEC lawsuit… Go get um Mr. Armstrong!

Mark Zuckerberg tries to restore trust as metaverse losses cap $40B. Despite the losses, investors are optimistic about Meta CEO Mark Zuckerberg’s long-term bet on the metaverse, sending the stock up 7% after hearing Zuckerberg’s reasoning on the Meta Q2 2023 Earnings call.

Gary Gensler, the U.S. Securities and Exchange Commission SEC chairperson, has expressed serious concern for AI technology, calling it a serious threat to financial markets.

Canadian crypto ownership declines amid tight regulations, and falling market prices

and finally… Miami Mayor Francis Suarez say’s he will accept Presidential Campaign Donations in Bitcoin… Good on you Francis!

Thank you for tuning in, for more insights into the world of Web3, and how to navigate the rapidly changing crypto and blockchain landscape, visit Arctai.com and look for Web3 Unpacked on Apple, Spotify or wherever you get your podcasts.