Crypto NFT Today: Latest News in Blockchain, Cryptocurrencies and NFTs – August 1-9

Welcome to another edition of Crypto NFT Today! The past week has been a must-know
Events that will surely be a turning point for the future of blockchain, cryptocurrencies and NFTs.
With a new stablecoin release from a popular fintech company, the NFT trademark
From the making of a successful film series in Hollywood, to much more, there is much more to see. so,
Let’s dive in and see what’s happening now!

PayPal issues US dollar stablecoin

On August 7, PayPal, a financial technology company, released its first US dollar stablecoin,
Known as PYUSD. This new development is essential for the users of the company
Smooth transition of currency from fiat to digital. After this release, PayPal users can transfer
Raise funds, pay and promote internationally at record speeds in a virtual environment
Further development of digital assets in the future. Saying so will give clear information to the users
The idea of ​​what cryptocurrency has to offer and drives additional growth.

Trending: Where there’s smoke, there’s fire: Time to prioritize wildfire prevention and suppression

PayPal President and CEO David Schulman told that the switch to digital currencies was
must be done with a “stationary device that is digitally native and easily connected to fiat
currency like the US dollar.

Generally speaking, stablecoins have had their fair share of success. For example, Tether
Recently released its latest report stating that the reserves have increased by $850 million
in the last quarter alone and is projected to reach $3.3 billion soon.

Moving forward with the US dollar stablecoin issued by PayPal, users have immediate
Ability to transfer cryptocurrency to an external wallet and even convert it to other digital
Currencies that are well known, such as Ethereum and Bitcoin.

Photo by Brett Jordan via Pexels

Trademark for NFT created by Star Trek

After receiving the initial application in April, the United States Patent and Trademark Office
On August 8, the request was officially approved by CBS Studios. famous hollywood
Programmer supplier required to trademark Star Trek name on crypto collectibles
and NFTs related to the Continuum series.

Requests for this stellar trademark for NFTs are becoming common. according to mike
Kondoudis, an NFT trademark attorney, points to interest in NFTs as the number of trademarks grows
applications at remarkable rates as it adequately protects the brand and ensures that no
Others may use the same logos and names in their work. In addition to trademarking the name
In addition to NFTs for promotion, it is also possible for individuals or companies to trademark services.
Such as financial support, digital token supply, and many more.

Photo by Alesia Kozik via Pexels

New Yorkers Are Increasingly Adopting Cryptocurrencies, Report Shows

Cryptocurrency exchange known as Coinbase releases its fourth report to the public
has revealed interesting news about the progress of crypto acceptance by location. this fourth
Report published on August 8 shows that New Yorkers hold 19% of cryptocurrencies in the US
The report emphasizes that this increase in the use of cryptocurrencies is due to the hustle and bustle of the city
A powerhouse of technology, fashion and art.

In addition to those state-by-state findings on cryptocurrency use, Coinbase reports that
New York emphasizes Web3 adoption, acceptance of all things blockchain and crypto.
According to the report, 1 in 3 residents of the city agree that cryptocurrencies are a worthy investment
“Makes the financial system more fair.”

More than 800 founders of blockchain organizations are based in New York City alone, according to report
Predictions are that this increase in interest is only the beginning. In light of this, the area will probably be
Hotspot for blockchain-powered projects and critical efforts that facilitate widespread adoption.

Photo by David McBee via Pexels

Husband and wife plead guilty to attempting to launder bitcoin

In February 2022, Ilya Lichtenstein and Heather Morgan were arrested in New York City
Law enforcement uncovered his crime in 2016 for attempting to launder bitcoins.

By August 3, the pair, now being called the modern Bonnie and Clyde, requested
Convicted of attempting to launder $4.5 billion in bitcoin. United States Department
The Justice press release stated, “Lichtenstein, at times, acted in aid of Morgan
Many sophisticated laundering techniques.”

In addition to splitting bitcoin into smaller pieces and transferring it to fake crypto
Wallet, Lichtenstein and Morgan also mixed funds with criminal currency, bought gold coins
and created shell companies to make sure the process looked legitimate.

The press release also stated that Lichtenstein faces a possible maximum sentence of 20 years.
for conspiracy to commit money laundering, while his wife faces an estimated 10 years in prison
Both are behind bars for money laundering conspiracy and conspiracy to defraud the United States
The convicts await a final ruling from a federal district court judge.

Photo by EKATERINA BOLOVTSOVA via Pexels

Source