The Wallet Report #7

The Wallet Report #7

Top stories

Kraken : Cryptocurrency exchange Kraken has been ordered by a federal court to provide the IRS with user account and transaction information. The IRS is investigating potential tax underreporting by Kraken users. (link)

Hong Kong has formed a task force to supervise the development of Web3, focusing on ethical growth. The government aims to make Hong Kong a leading hub for Web3 and has received positive market response. They are actively promoting the region as an attractive place for cryptocurrency firms. (link)

The SEC has dismissed multiple applications for spot Bitcoin ETFs, causing price fluctuations and raising doubts about the future of cryptocurrency trading. Major asset managers like BlackRock and Fidelity were among those whose filings were deemed inadequate. Approval for integrating cryptocurrencies into traditional finance faces challenges. (link)

Binance will lose the support of its euro banking partner, Paysafe Payment Solutions, in September 2023. The cryptocurrency exchange will switch to a new service provider for euro deposits and withdrawals. This change is not connected to Binance's recent exits from several European Union countries. (link)

UK Law Commission : The Law Commission of England and Wales has recommended classifying cryptocurrencies as a new category of personal property. They also suggest creating an expert panel, implementing a legal framework for crypto collateral arrangements, and clarifying existing laws. These recommendations aim to enhance the legal recognition and protection of digital assets in the UK, supporting the government's crypto hub ambitions. (link)


Aavegotchi, the open source NFT gaming protocol, is undergoing updates including community bounties, a hackathon, and the introduction of Marketplace Offers. They are making progress in 3D development and have partnered with The Sandbox. Alchemica rerolls and kinship burning are planned, and a new mobile game called Gotchi Guardian is in the works. (link)

Ubisoft reveals its first blockchain game, Champions Tactics, a PVP Tactical RPG. The game will run on the Oasys blockchain platform and aims to explore the potential of blockchain technology in gaming. Specific gameplay details are yet to be revealed. (link)

Abyss World is expanding to Polygon zk-EVM, offering faster transactions and efficient smart contract execution for Web3 gaming. The $AWT token has shown promising growth, and with backing from industry giants, Abyss World aims to lead the Web3 gaming revolution. (link)

SuperDuper, a Web3 gaming and entertainment brand, has partnered with Immutable to create a real-time strategy game based on its Overlord IP. The collaboration will enable SuperDuper players to engage in Web3 trading, and SuperDuper assets will be featured on Immutable-integrated marketplaces. (link)

Pixion Games, a web3 gaming studio, secured $5.5 million in seed funding for their game Fableborne. Investors include the Avalanche Foundation's Blizzard Fund and Shima Capital. The funds will be used to expand the game's technology and team. Fableborne focuses on competitive multiplayer experiences and player-owned economies. Playtests are underway, with a public launch planned within a year. Web3 gaming continues to attract investment despite market conditions. (link)


Azuki : a group of Azuki NFT holders who had united to seek a refund of more than $38 million from the project's team for alleged "scamming," faced another setback. The DAO they had established to coordinate their efforts was exploited for tens of thousands of dollars.The Azuki Elementals project, criticized for its similarities to the original collection, saw a significant drop in its floor price. The Azuki DAO plans to pursue legal action and pressure Chiru Labs to return the profits from the Elementals drop. (link)

Dior has introduced a line of men's sneakers with an online authentication system and "digital twin" NFTs. The sneakers will be linked to Ethereum-based NFTs and feature an NFC chip for authentication. Despite embracing blockchain, Dior avoids using explicit blockchain terminology in its promotional materials. (link)

Harry Styles : Fans at a Harry Styles concert used the EVNTZ app to open digital wallets for potential blockchain-based rewards. Over 5,000 fans claimed wallets, leading to future engagement opportunities. The app offers services like transportation booking and merchandise access. The goal is to enhance fan experiences and loyalty through gamified rewards.(link)

NFT Bartering : Throughout the early months of the year, several trading platforms introduced lending services for non-fungible tokens (NFTs). This week, Ginoa has joined the trend by unveiling an NFT bartering platform, providing another avenue for NFT holders to generate profits. With the growing popularity of NFT lending, it begs the question: Will these innovative methods of trading digital assets continue to gain traction? (link)

Sodexo's Pluxee division has launched NFT profile pictures for its employees, showcasing the potential of NFTs in increasing employee engagement. The digital collectibles are based on the Internet Computer blockchain and can be traded among employees. Sodexo plans to donate €1 per claimed NFT to its charity initiative. This move reflects the growing interest of mainstream brands in Web3 technologies.(link)


Aave V2 is considering freezing TrueUSD (TUSD) on its platform due to concerns about the stablecoin crisis. This would prevent users from depositing or borrowing TUSD. Existing holdings are not affected. The confusion surrounding TUSD's minting and redemption methods has caused difficulties for users. TUSD's value dropped and experienced a loss of around $100 million. (link)

Uniswap has released the draft code for Uniswap V4, which introduces new features like hooks and a singleton contract. However, there are allegations of code copying from the Shell Protocol, causing controversy. Deployment of V4 is expected in the coming months. (link)

AlloyX, a DeFi protocol, has launched a real-world asset vault after securing $2 million in funding. The vault combines tokenized credit from Credix Finance with tokenized U.S. Treasury bills, providing DeFi investors access to real-world asset liquidity. The vault aims to offer diversification and customizable strategies for investors. AlloyX plans to integrate with more DeFi protocols and launch additional investment vaults in the future.(link)

Superstate, founded by Compound Labs' creators, raised $4 million to develop regulated financial products for blockchain. Their initial offering is a government bond fund held in a crypto wallet, allowing shareholders to record ownership on the Ethereum blockchain. Superstate aims to collaborate with regulators and investors are excited about their approach. (link)

Maple Finance : DeFi lending protocol Maple Finance has launched Maple Direct, a direct lending arm catering to web3 native entities. Maple Direct aims to address the lack of reliable debt capital sources in the crypto market. This comes after the bankruptcies of Celsius and BlockFi. Maple Finance requires lenders to pass know-your-customer checks. The company has a significant amount of assets and issued loans. (link)

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