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Square changes its name to ‘Block’ as part of broader push into crypto

Jack Dorsey’s payment firm Square is rebranding the name of its corporate entity to “Block,” according to a company announcement on Wednesday. The change will become official on December 10.  The name change stems from the firm’s desire to become more deeply embrace decentralized and blockchain technology, citing that the name change has been in the works for the past year.  “We built the Square brand for our Seller business, which is where it belongs,” said Jack Dorsey, co-founder and …

Meta made it easier to run crypto-related ads on its platform

Meta, the social media company formerly known as Facebook, changed its requirements for businesses who seek to advertise digital asset-related products.  The firm announced Wednesday that it is increasing the number of acceptable regulatory licenses from three to 27, according to a company release, in addition to publicly listing eligible licenses on their policy page.  Prior to the change, the company required that businesses submit an application including details such as relevant crypto licensure and whether the business was publicly …

FTX.US adds support for Ethereum-based NFTs to its marketplace

After hinting that this feature would come soon, the U.S.-based crypto exchange FTX.US now allows users to buy, sell and display Ethereum NFTs on its previously Solana-only non-fungible token (NFT) marketplace.  According to a tweet from the exchange, Wednesday marks the first time the company has allowed Ethereum NFTs onto its nascent NFT marketplace — which launched more than a month ago on October 11.  FTX.US is now the first and so far only NFT marketplace to offer both Ethereum …

December Research and Analysis Report

December 1, 2021, 2:28PM EST • 1 min read Join The Block Research for exclusive research like this Gain access to this research piece and 100s of others, including ecosystem maps, company profiles, and topics spanning DeFi, CBDCs, banking and markets. Together with additional services, we help organizations understand what’s happening in the rapidly developing digital asset ecosystem. Learn More Already a Research Member? Login Here

Congress to hold hearing with execs from Coinbase, FTX, Paxos and others

On December 1, Maxine Waters, who chairs the House Financial Services Committee, announced the witness list to a hearing on cryptocurrencies, which will be heavy on executives from leading U.S. crypto firms. Scheduled for December 8, the hearing is entitled “Digital Assets and the Future of Finance: Understanding the Challenges and Benefits of Financial Innovation in the United States.” The witnesses are CEOs from leading crypto firms: Circle’s Jeremy Allaire, FTX’s Sam Bankman-Fried, Bitfury’s Brian Brooks, Paxos’ Chad Cascarilla, Stellar’s …

Is India on a path to regulate crypto? Here are the signs that suggest yes

Quick Take Indian politicians have been arguing about crypto for years, making it difficult to understand the true nature of the discussions. But in recent weeks, the tone has shifted towards cautious optimism about crypto. These comments and other signs suggest that the Indian government intends to regulate crypto — and soon — rather than ban it. This feature story is available to subscribers of The Block Daily. You can continue reading this Daily feature on The Block.

South Korean crypto VC Hashed launches new $200 million fund

Hashed, a crypto venture capital firm based in South Korea, has launched a new $200 million fund. The Hashed Venture Fund II will invest in Web3 startups, including those focused on metaverse, blockchain gaming, NFTs, and DeFi. “We are radically optimistic about web3’s potential to restore trust and enable new kinds of governance where players collectively make critical decisions about how the metaverse should be defined,” said Hashed. The firm’s new fund comes exactly a year after it raised $120 …

November by the numbers: A look at crypto exchange volumes, open interest, and miner revenue

December 1, 2021, 11:27AM EST • 5 min read Quick Take Most Bitcoin metrics decreased, while most Ethereum metrics increased in November. Total adjusted on-chain volume increased by 5.6% to $904.2 billion. A total of 361,850 Ethereum, equivalent to $1.61 billion, was burned in November. Centralized exchange spot trading volumes increased by 8.3% to $1.402 trillion. Join The Block Research for exclusive research like this Gain access to this research piece and 100s of others, including ecosystem maps, company profiles, …

Blockchain.com acquires Latin American crypto investment platform SeSocio

Blockchain.com has acquired SeSocio, a crypto investment platform based in Argentina. While the actual purchase agreement has not been made public, sources familiar with the matter say the deal is in the hundreds of millions of dollars. The announcement stated that the deal marks the company’s largest acquisition to date and expands its ambitions in South America. SeSocio is reportedly one of the largest cryptocurrency businesses in Latin America offering crypto savings and asset management services. As part of the …

Gensler, Clayton contend that crypto regulatory challenges will abate as the industry consolidates

Chair of the Securities and Exchange Commission Gary Gensler and former chair Jay Clayton both say they see a productive future for crypto, but only in an “environment of trust.” That path to regulation will become easier as the space centralizes and consolidates, according to the two chairs. The two met for a fireside chat at Solidus Labs’ and CryptoCompare’s DACOM conference. During their time, Clayton pressed Gensler on previous comments comparing crypto to the Wild West. Gensler reiterated that …