Meta Platforms’ crypto venture to wind down and sell tech assets: Report

As per a Wall Street Journal report, Meta Platforms, Inc’s digital currency venture Diem Association is winding down and selling its technology to California-based Silvergate Capital Corp for ~$200 million. Meta (formerly Facebook) first unveiled plans for Diem in June 2019 as part of an effort to expand beyond social networking into e-commerce and global payments.

Crypto prices today: Bitcoin falls 2.7%, ETH down 1.9%

Bitcoin is currently trading at $36,233, a 2.7% decline over the previous day. Ethereum fell 1.9% over the last 24 hours to $2,413. Solana is down 5.4% to $89.54, while Cardano is up 0.76% to $1.05. Polygon (MATIC) has fallen by 2.2% to $1.55. The global crypto market cap stands at $1.63 trillion, a 2.6% decline over the previous day.

Superdao raises $10.5 million to build an all-in-one DAO platform

US-based Superdao has raised $10.5 million in a funding round led by VC firm SignalFire to help it achieve its goal of building an all-in-one DAO protocol. DAOs, or decentralized autonomous organizations, are a popular way to build investment groups, NFTs & metaverse projects, and social clubs. Founded in October 2021, Superdao aims to grow the DAO economy with better infrastructure.

SEC scrutinizing crypto firms over interest-paying services: Report

As per a Bloomberg report, the US Securities and Exchange Commission (SEC) is probing crypto exchanges Voyager Digital and Gemini Trust and crypto lender Celsius Network as part of a wider investigation into crypto companies that pay interest on virtual token deposits. The agency is considering whether these firms should file their offerings as securities with the SEC.

The International Monetary Fund (IMF) Executive Board has urged El Salvador to stop using Bitcoin as the legal tender. The board emphasized a need for strict regulation and oversight of the new ecosystem of digital e-wallet Chivo and Bitcoin. IMF stressed the risks associated with the use of Bitcoin on financial stability, financial integrity, and consumer protection.

Russia has ‘competitive advantage’ in Bitcoin mining: Putin

Russian President Vladimir Putin said the country has distinctive characteristics that allow it to benefit from Bitcoin mining. He also asked the Bank of Russia to reach a consensus with the Ministry of Finance, which recently discouraged a complete prohibition of Bitcoin trading and mining in the country. Last week, Russia’s central bank called for a complete ban of the activity as it worries cryptos could pose risks to its citizens.