This Week’s Most Exciting Crypto News: UK Announces NFT and More

This Week’s Most Exciting Crypto News: UK Announces NFT and More

Here’s what occurred this week on the earth of crypto.

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This week introduced some thrilling developments on the earth of cryptocurrency and NFTs. Our lead story is the UK’s push to change into a middle for crypto asset funding and know-how. We’ll additionally dive right into a south Florida case the place US authorities confiscated $34 million in cryptocurrency and Robinhood’s new cryptocurrency pockets. Lastly, we’ll focus on Tom Brady’s NFT gross sales, a group of NFT stick figures going for wild sums of cash and what occurred to the primary mainstream online game to combine NFTs as in-game gadgets. 

Welcome Nonfungible Tidbits, CNET’s weekly roundup of stories in crypto, bitcoin, NFTs and their associated realms. Read on to seek out out in regards to the six tales you will have missed this week, and keep tuned for extra subsequent week.

UK broadcasts NFT to advertise nationwide crypto initiative 

The U.Okay. needs to be “a global hub for cryptoasset technology and investment.”

HM Treasury

The British authorities introduced plans on Monday to make the UK a worldwide hub for funding and tech in crypto property. The UK is seeking to make stablecoins a sound type of cost, and the Royal Mint will challenge an NFT to advertise Britain’s crypto push. “The measures we’ve outlined today will help to ensure firms can invest, innovate and scale up in this country,” UK finance minister Rishi Sunak mentioned within the announcement. This comes simply weeks after the nation’s monetary regulator declared all bitcoin ATMs within the UK unlawful and ordered them to close down. The nation’s promoting authority has additionally been cracking down on crypto adverts within the nation for failing to focus on dangers related to cryptocurrency investing. 

Read CNET’s full story on the UK’s NFT and crypto plans right here.

US Authorities Seize $34M in Crypto in South Florida Case

Angela Lang/CNET

US authorities confiscated 34 million value of cryptocurrency that was allegedly made out of promoting illicit gadgets and stolen accounts from on-line companies, together with HBO, Netflix and Uber, on the darkish internet, the Justice Department mentioned Monday. The DOJ says this is without doubt one of the largest cryptocurrency forfeiture actions the US has ever filed. The announcement did not specify the id of the south Florida resident the cryptocurrency was confiscated from or if the DOJ was pursuing additional authorized motion.

Read CNET’s full story on the cryptocurrency confiscation right here.

Robinhood rolls out cryptocurrency pockets for folks on ready checklist


Robinhood’s cryptocurrency pockets is now accessible for eligible customers who beforehand signed up for the ready checklist. The pockets’s launch was introduced by Robinhood CPO Aparna Chennapragada on Thursday on the Bitcoin convention in Miami. The Robinhood crypto pockets permits transferring cryptocurrency into exterior wallets with each day withdrawals capped at $2,999 whole and 10 transactions. However, residents in Hawaii, New York and Nevada aren’t eligible to enroll, on account of state laws. Robinhood has been a topic of controversy for the reason that firm’s position within the GameStop inventory saga.

Read CNET’s full story on Robinhood releasing the cryptocurrency wallets right here.

ESPN, Tom Brady promote NFTs to advertise documentary sequence

Jordon Kelly/Icon Sportswire through Getty Images

An NFT assortment from ESPN and Tom Brady was launched Wednesday in live performance with the Tom Brady documentary sequence ‘Man within the Arena: Tom Brady’ arriving on Hulu and Disney Plus. The NFTs characteristic ESPN journal covers of Brady, vary from $100 to $500 and have already bought out. Brady, alongside along with his spouse, Gisele Bündchen, beforehand took an fairness stake within the cryptocurrency trade FTX and launched a business for the crypto firm.

Read CNET’s full story on the NFTs from ESPN and Tom Brady right here.

NFT stick figures are promoting for hundreds of {dollars}


Over $100 million in cryptocurrency has been spent on ‘mfers,’ an NFT assortment that includes drawings of stick figures in entrance of coloration backgrounds. Recently, the least costly NFT within the assortment was 3.97 ether, or round $14,000, and the gathering’s easy artwork could be very a lot on function. “Underlying mfers’ meme art is, hilariously, an argument about intellectual property,” says CNET Senior Writer Daniel Van Boom.

Read CNET’s full story on why mfers are promoting and what’s driving the costs right here.

First mainstream online game to make use of in-game NFTs will finish new content material


Ubisoft grew to become the primary huge online game developer to combine NFTs into mainstream video video games when the corporate introduced ‘digits’ in Ghost Recon Breakpoint earlier this 12 months, a transfer that did not go over properly with a lot of the sport’s fanbase. On April 5, just a few months post-integration, Ubisoft introduced it’s ending new content material for the sport. However, Ubisoft is seeking to rent extra blockchain-related roles on the firm and reportedly needs to place NFTs in future video games, so players can in all probability count on to see NFTs in upcoming Ubisoft titles. 

Thanks for studying. We’ll be again with loads extra subsequent week. In the meantime, try this cautionary story from Farnoosh Torabi on how bitcoin blackmailers tried to steal from her dad’s E-Trade account. 

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