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South Africa moves to regulate crypto assets

South Africa’s Financial Sector Conduct Authority (FSCA) has classified cryptocurrency assets as financial products. The FSCA referred to crypto assets as “a digital representation of value” that can be electronically traded, transferred, and stored but is not issued by a central bank. Crypto asset service providers (CASP), such as exchanges, must now apply for licenses.

Crypto prices today: Bitcoin, ETH down 0.5%

Bitcoin is currently trading at $19,132.6, a decline of 0.51% over the previous day. Ethereum is down 0.51% over the last 24 hours to $1,292.06. Solana fell 2.27% to $29.25, while Cardano is trading lower by 1.17% at $0.353. Avalanche (AVAX) fell 1.56% to $15.28. The global crypto market cap stands at $920.34 billion, a 0.44% decline over the previous day.

Helius raises $3.1M to make Solana app building ‘faster and cheaper’

Helius, a Solana infrastructure startup, raised $3.1 million to provide the tools to help developers build Web3 applications in less time and for less money. The development platform was co-founded by former Coinbase and Amazon engineers. Helius aims to help creators by providing application programming interfaces (APIs) to understand on-chain data & query transactions and also webhooks that enable automation and bots.

Ethereum NFT marketplace Blur launches with free airdrop

VC-backed marketplace Blur went live on Wednesday. It has promised new users free crypto in the form of an airdropped gift that contains an undisclosed amount of BLUR tokens. Users may be eligible for the free airdrop if they have traded an NFT within the past six months. Blur calls itself the NFT marketplace for “pro traders,” offering an aggregation feature, portfolio analytics, and zero marketplace fees.

Reddit users open 2.5 million crypto wallets after launch of NFT platform

The users of social network Reddit have opened over 2.5 million crypto wallets on the platform since the company released its NFT marketplace in July. The NFT marketplace requires users to set up a Reddit Vault Wallet to purchase and store tokens. The wallet allows users to manage community points stored on-chain that can be used for in-app purchases.

Reddit claims it has 50 million daily active users and grossed over $350 million in earnings last year.

DeFi giant Aave plans to launch its own stablecoin

Decentralised finance (DeFi) protocol Aave is planning to launch its own stablecoin. It has created an Aave Request for Comments (ARC) for a new decentralized, collateral-backed stablecoin native to the Aave ecosystem known as GHO. The proposal for a new stablecoin is now in the hands of the community of AAVE token holders that vote on decisions that affect the protocol’s future.

Crypto prices today: Bitcoin jumps 7%, ETH up 5.9%

Bitcoin is currently trading at $21,831.41, an increase of 7% over the previous day. Ethereum rose 5.94% over the last 24 hours to $1,243. Solana rose 2.53% to $37.52, while Cardano is trading higher by 2.3% at $0.476. Avalanche (AVAX) rose 5.4% to $20. The global crypto market cap stands at $961.4 billion, a 4.92% increase over the previous day.

Reddit to launch NFT avatars built on Polygon

Reddit will launch a new Collectibles Avatar marketplace leveraging non-fungible tokens (NFTs) hosted on Polygon’s blockchain. The website will partner with independent artists to create unique avatars that Reddit users can buy for a fixed price and customize with gear. The purchase of these avatars gives owners a license to use the artwork on Reddit and other platforms.

Celsius accused of fraud in lawsuit by ex-employee

A former investment manager at Celsius Network filed a lawsuit against the crypto lender, saying it used customer deposits to rig the price of its own crypto token and failed to properly hedge risk. These actions had allegedly caused Celsius to freeze customer assets. The complaint said Celsius ran a Ponzi scheme to benefit itself through “gross mismanagement of customer deposits”.

DeFi lender Teller launches ‘buy now pay later’ feature for NFTs

Teller Finance, a DeFi lending platform, has launched a new feature allowing a ‘buy now pay later’ (BNLP) for NFT projects. Teller has extended this feature for Bored Ape Yacht Club, Mutant Ape Yacht Club, Moonbirds, Doodles, Cool Cats, etc. Teller’s NFT BNLP service is called “Ape Now, Pay Later” and is built on the Polygon network.