The Digest contains the following:

• Mastercard (NYSE:) Partners with Marketplaces to Enable “Easier and Safer” NFT Purchases

• Investigating TerraUSD Stablecoin Collapse: The SEC opens an investigation

• Resolve Activity and Network Growth at a Two-Year Lower

• VeChain Foundation signs a partnership deal worth $100 million with UFC

• Lithuania will tighten crypto regulations and limit anonymous crypto accounts

Mastercard Partners with Marketplaces to Enable “Easier and Safer” NFT Purchases

Mastercard is partnering with NFT platforms to build an eMarket that allows for safe, easy purchases of tokens and digital goods.

Mastercard has been working over the past year to support the direct purchase of NFTs with their debit or credit cards via the companies’ marketplaces or using their crypto services.

Raj Dhamodharan (executive vice president at Mastercard) announced on June 9 that Mastercard had partnered to Immutable X and Candy Digital as well as Mintable, Spring, Nifty Gate, MoonPay, The Sandbox, Mintable and Spring in order to facilitate NFT commerce.

The 2.9 billion Mastercards currently in circulation can purchase NFTs using the fiat they have in their accounts when it is fully released. This alternative will be possible to purchasing NFTs using crypto.

Flipsider:

• Alibaba Cloud launched 3 NFT solutionsDevelopers can quickly and reliably build NFT Marketplaces.

What You Need to Care About

Mastercard’s initiative will allow more people to trade and purchase NFTs.

Terra Investigation by the SEC on Collapsed TerraUSD Stablecoin

The U.S. Securities and Exchange Commission (SEC) has opened an investigation into Terra’s algorithmic stablecoin TerraUSD (UST) and whether it violated federal investor protection rules.

According to SEC enforcement attorneys, they are currently investigating whether Terraform laboratories broke securities and investment product rules when it marketed the UST stabilitycoin.

Terra violated multiple Federal Investor Protection Regulations, insists the SEC. Do Kwon has also been accused of laundering money in excess $80 million.

The SEC’s investigation follows an order by the U.S. District Court of Appeals to Terraform Labs CEO Do Kwon, which required him to submit documents and give testimony regarding Mirror Protocol.

Flipsider:

• TerraUSD has been demolished and Terra is now launching a new blockchain. Terra 2.0The algorithmic stablecoin is not included.

What You Need to Care About

South Korea and the SEC may be able to provide more information about the UST’s collapse.

Ethereum Address Activity, Network Growth and Network Activity Fall to 2-Year Low

Bullish forecasts for Ethereum (ETH) were triggered by the successful Ropsten merger on June 8. The price of Ethereum (ETH) did not change significantly after the merger.

On-chain data from Santiment shows that Ethereum’s address activity and network growth have dropped to their two-year lows amidst bearish pressure from the broader crypto market.

Ethereum Network Growth Source: Santiment

Santiment revealed that Ethereum new addresses have fallen to their lowest point over the past 2 years. This is 62% less than the April 2020 all-time record.

Data from the Ethereum blockchain suggests that ETH may be more vulnerable to bearish forces when network activity is declining. After losing 1.7% within the last 24hrs, Ethereum (ETH), has dropped to below $1,800.

Here is the Ethereum (ETH) 24-hour chart. Source: CoinMarketCap

Flipsider:

• Despite Ethereum’s declining price, investors are bullish that the mainnet merge would spark a major bull run for ETH.

What You Need to Care About

ETH has not shown any price movements, however the PoS migration is a huge milestone in the crypto industry.

VeChain Foundation signs a partnership deal worth $100 million with UFC

The UFC announced that it has signed a $100 million partnership agreement with VeChain Foundation in a landmark event. VeChain becomes the UFC’s first Layer 1 Blockchain partner.

As part of the 5-year partnership, VeChain’s marketing assets and brand will be integrated across the UFC in live events, in-arena promotion, social media, and other areas.

Sunny Lu, VeChain’s co-founder and CEO, said that the deal is a strategic move to help boost VeChain’s brand visibility and expand its reach around the world.

This partnership will immediately begin, with VeChain assets being displayed at the UFC Singapore event on June 11. UFC, with approximately 900 million worldwide viewers, is the biggest promoter and organizer of Mixed Martial Arts events (MMA).

Flipsider:

• VeChain (VET, the VeChain Cryptocurrency) has experienced a 4% increase in its value. This makes it the most popular top gainer out of the top 40 cryptos.

VeChain’s 24-hour price chart (VET) Source: CoinMarketCap

What You Need to Care About

VeChain will be more visible and popularized through a strategic partnership, which could benefit the entire cryptocurrency sector.

Lithuania will tighten crypto regulations and limit anonymous crypto accounts

To protect its rapidly growing crypto sector, Lithuania’s Ministry of Finance has moved to tighten its oversight of crypto. It published an amendment to the “Law on the Prevention of Money Laundering and Terrorist Financing.”

This proposal would prohibit the creation of anonymous accounts in Lithuania and increase the customer identification requirements.

To 125k Euros, the capital required to open a crypto-service provider or exchange has been raised. This law would be effective January 1, 2023 if it is passed.

The identities of managers would also need to be made public, as well as their permanent addresses in Lithuania. The amendments will need to be approved by the Seimas, Lithuania’s legislature, before it is passed into law.

Flipsider:

• Lithuania is often credited for issuing one of the world’s first blockchain-based digital collector coins.

What You Need to Care About

Lithuania’s goal is to raise crypto transparency, while also ensuring the sustainability of the sector for its future growth.

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