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Here's what you might have missed last week in the land of crypto. Too busy to read? Subscribe to the podcast to get your recap and commentary in under 15 minutes!

Last week...

• Solana’s second phone, the Seeker, is slated for a 2025 release. The phone will come with a Genesis Token NFT. The phone is also integrated with a native wallet that works with Solana Mobile’s secure seed vault.

• Mark Cuban wants to replace Gary Gensler at the SEC. Cuban stated that he would be interested in leading the agency should Vice President Kamala Harris win the 2024 presidential election. Cuban has long been critical of Gensler’s oversight of the blockchain industry.

• BNY Mellon receives SEC approval to custody crypto assets. BNY Mellon will be the first bank to offer cryptocurrency custody services for its bitcoin and ether ETP clients. The SEC approval is specific to this particular use case for ETPs, and it remains unclear if other asset managers will apply for or receive similar exemptions.

• Coinbase launches cbBTC wrapped Bitcoin on Solana. Coinbase’s wrapped Bitcoin product, cbBTC, will soon be available on the Solana network. This will allow users to retain control of their Bitcoin while leveraging it as collateral in DeFi applications on the Solana network.

• Caroline Ellison sentenced to two years in prison for her role in the FTX collapse. Ellison, former co-CEO of Alameda Research, pled guilty in December 2022 to charges of wire fraud, commodities fraud, securities fraud, and money laundering. Her cooperation with authorities earned her a reduced sentence.

• Kamala Harris highlighted blockchain, AI, and tech leadership amid growing crypto focus. It is unclear from the source what Harris's specific comments on these subjects were.

• Visa is launching a new tokenized asset platform for banks called VTAP. The platform will allow banks to create tokens that represent real-world assets like bonds and commodities, all backed by fiat currency. The Spanish bank Banco Bilbao Vizcaya Argentaria (BBVA) is already on board to try it out.

• The FBI seizes $6 million from crypto scammers targeting US citizens. The scammers targeted US citizens with confidence investment schemes. Tether aided in recovering the stolen crypto by freezing the scammers’ wallets, which the FBI then seized.

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meta-david
The Blockchain Experience

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