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Highlights
- Sony launches testnet Minato for Ethereum L2.
- Telegram CEO under legal spotlight.
- Other key events across the broader market this week.
The crypto market concluded another week with eye-catching developments unfolding across the broader industry. While Sony launched its Ethereum L2 marking a monumental stride, Telegram CEO caught the courtroom spotlight. Further, OpenSea also caught the eyes of legal eagles of the U.S. SEC.
Here’s a brief collection of some of the top crypto market headlines for this week, which have echoed a frenzy across the broader industry.
Crypto Market Updates: Sony Launches Testnet For Ethereum L2, Telegram CEO Under Legal Supervision
Sony Group’s blockchain subsidiary launched the testnet phase for its Ethereum layer 2 solution, Soneium, this week. The testnet, Minato, was streamlined via a partnership between Sony and Web3 company Startale.
Meanwhile, Telegram CEO Pavel Durov encountered legal scrutiny in France. The CEO was detained on charges related to the use of Telegram in illicit activities. Further, after extended detention, Durov was finally released on August 29. However, it’s worth mentioning that the TG CEO currently remains under judicial supervision.
The arrest also saw strong opposition from leading prominencies, such as Elon Musk and RFK Jr, among many others. Simultaneously, the TON blockchain witnessed outage for nearly six hours this week, sparking concerns among investors.
OpenSea Gets Wells Notice
Meanwhile, NFT marketplace OpenSea received a wells notice from the U.S. SEC this week. CoinGape Media reported that the SEC’s crackdown comes as the regulatory authority believes that digital collectibles traded on the platform are securities.
In light of this event, Ripple CLO Stuart Alderoty suggested that the SEC might lose another lawsuit, citing historical data. The lawsuit itself has sparked significant discussions across the global crypto community.
Also, it’s worth noting that the lawsuit emerged in tandem with Donald Trump’s launch of his series 4 NFT collection. This event has garnered additional attention on the matter.
Other News From The Broader Crypto Market
In the interim, some other key events unfolded across the crypto sector this week, substantially impacting market sentiments. Kraken launched futures trading for Shiba Inu (SHIB), Pepe Coin (PEPE), and dogwifhat (WIF).
On the other hand, the broader market brimmed with optimism over Bitcoin and Altcoins’ future price movements as the U.S. PCE Inflation data came in lower than expected. Notably, the U.S. PCE Inflation came in at 2.5% for July, unchanged from the previous month.
Also, it’s worth mentioning that an XRP documentary is set to release on Amazon and Apple TV in November. Moreover, Ethereum co-founder Vitalik Buterin denied claims of selling any ETH proceeds despite his holdings being on a decline.
- Bitcoin Treasuries Add Nearly $1B BTC This Week as Holdings Cross 1M BTC
- Peter Schiff Criticizes Bitcoin’s Performance Following Gold’s Rally To New ATH
- Arkham Uncovers $5 Billion in Untouched Bitcoin From Germany’s Movie2K Seizure
- Ethereum Spot ETFs Record $447 Million in Outflows Amid Crypto Market Decline
- World Liberty Financial Discloses Reason for Blacklisting 272 Wallets
- HBAR Price Forecast: Analyst Targets 123% Rally as ETF Approval Odds Hit 90%
- Solana Price Prediction: Will Solana Hit $320 as SOL Strategies Gains Nasdaq Approval?
- XRP Price Forecast: Analyst Eyes $127 as BlackRock Joins Ripple Swell 2025
- Chainlink Price Eyes $55 as Reserve Holdings Jump With 43,937 LINK Addition
- Cardano Price Targets 30% Surge as Top Economist Calls for Fed Cut
