NJ crypto rules, Ripple CEO wants faster US regulation, Ordinal and Starbucks' NFTs take over, OpenSea halts Rihanna NFT trading, Coinbase loses exec to a16z, Bit2Me launches cashback debit and, Mitre on hunt for web3 economist. - Web 3 With FTC for Monday, February, 20th

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Welcome to Web3 with FTC by Fintech Confidential, the place where we

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keep you up-to-date on the latest developments in the world of Web3,

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Crypto, Blockchain, NFTs, & Fintech.

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"Get ready for some fresh and thrilling insights on the crypto and blockchain

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world, right here on Web3 with FTC!

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No more stale, regurgitated stories, we've got the hottest

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and newest updates for you."

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In today's episode, we'll cover a range of topics, from crypto regulations in

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New Jersey to the launch of Bit 2 Me's new crypto cashback debit card and more.

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First up, we'll be discussing New Jersey's proposed crypto regulations, which

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could have major implications for the cryptocurrency industry in the state.

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We'll also be taking a closer look at Ripple CEO Brad Garlinghouse's

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call for the US to step up its crypto regulation game and why the

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lack of regulatory leadership in the US could put the industry at risk.

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Next, we'll dive into the world of NFTs and crypto in the entertainment industry,

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discussing the emergence of Ordinal NFTs and the recent release of the Starbucks

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Holiday Cheer Edition 1 stamp NFT, which has already sold for thousands of dollars.

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We'll also cover the recent suspension of trading on Rihanna-related NFTs

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by OpenSea, and the market's need for greater transparency and authentication

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in the digital goods space.

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In the world of crypto business news, we'll be discussing Coinbase's Chief

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Product Officer Surojit Chatterjee's new position with Andreessen Horowitz (a16z)

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Crypto and what it means for the industry, as well as the launch of Bit 2 Me's new

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debit card with up to 9% crypto cashback.

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Finally, we'll wrap up with a look at the job market in the web3 space, discussing

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Mitre's search for an economist with expertise in the web3 ecosystem and

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what it means for the industry's future.

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These are just the highlights so stay for the rest of the story,

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right here on Web3 with FTC."

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We start off exploring the challenges facing the

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cryptocurrency industry in the US.

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From the lack of regulatory guidance to the ongoing legal challenges.

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The US is struggling to keep up with other nations in providing a clear

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framework for the crypto industry.

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Can New Jersey Crypto Regulation Protect Us from Fraud & Bankruptcy After 2022?

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The cryptocurrency industry has seen significant growth in recent years,

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but this growth has also led to an increase in fraudulent activities.

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In 2022, the industry saw a massive number of fraud and bankruptcies that left

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many investors and businesses at a loss.

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In response to this, New Jersey has proposed regulations to push the

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state beyond New York's BitLicense requirement, a move that could have

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major implications for industry firms.

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If passed, the proposed bill would require all businesses based in New

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Jersey that operate under cryptocurrency transactions to register with the state's

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Department of Banking and Insurance.

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This means that even banks, credit unions, and money-service businesses

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dealing with crypto assets or virtual currencies would need to comply.

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While the requirements may not be as strict as those of the BitLicense,

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it would still be a significant step towards regulating the industry.

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The bill also classifies digital assets into two categories: crypto

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tokens and virtual currency.

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Crypto tokens function as investments, while virtual currency can be

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used for buying and selling goods.

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Therefore, any business that deals in either of these categories would

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need to register with the state.

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Moreover, businesses involved in crypto assets or virtual currencies would

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need to protect consumer data, adhere to anti-money laundering initiatives,

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and report any suspicious activity.

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In an effort to reduce consumer fraud, any company dealing in cryptocurrency

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assets would be required to have a risk-based internal review system.

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This would help identify any risks that customers may

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encounter while using the service.

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New Jersey's proposed regulations are a significant step towards

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protecting businesses and customers from cryptocurrency fraud.

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It also ensures that the state remains on top of the latest banking trends.

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However, if the bill passes, cryptocurrency industry firms

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based in New Jersey would need to be prepared to comply with the

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regulations or face the consequences.

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While the regulations may seem daunting, they are necessary to protect both the

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industry and the people involved in it.

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It is essential to take steps towards building a trustworthy

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and secure environment for the cryptocurrency industry to flourish.

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Is the United States falling behind in the global race to regulate cryptocurrencies?

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Ripple CEO Brad Garlinghouse certainly thinks so.

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Amidst legal challenges from the Securities and Exchange Commission,

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Garlinghouse has expressed concern over the lack of clear regulatory guidance

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in the US, which is putting businesses and investors in a state of confusion.

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Without proper regulatory frameworks, the US crypto

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industry risks being left behind.

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Garlinghouse is not alone in his concerns.

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Many in the US crypto industry have long called for more clarity and

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guidance from regulators, but so far the government has been slow to act.

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This has created a legal grey area that leaves businesses and investors uncertain

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about the future of the industry.

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In contrast, other countries have taken a more proactive approach.

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Japan, for example, has established a flexible regulatory framework

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that supports the crypto industry while also protecting investors.

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This has helped Japan to become a leader in the global crypto market,

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attracting investment and creating jobs.

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The lack of clear regulatory guidance is not just a problem

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for businesses and investors, but for the industry as a whole.

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Without clear rules and standards, the sector risks being viewed as a

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haven for criminal activity and fraud.

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This can damage the reputation of the entire industry, making it harder to

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attract investment and create jobs.

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The US needs to act fast to establish clear regulatory

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guidance for the crypto industry.

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This will not only protect businesses and investors, but also help

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the industry to grow and thrive.

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By following the example of countries like Japan, the US can establish a regulatory

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framework that supports innovation while also protecting consumers.

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If the US fails to act, it risks being left behind in the global

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race to regulate cryptocurrencies.

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Next up we're taking a closer look at the world of NFTs and crypto

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in the entertainment industry.

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First up, we have Ordinal NFTs making waves on the Bitcoin network,

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driving up activity and raising the potential for financial gains.

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Recently all eyes have been on the Bitcoin network, as a JPEG NFT becomes

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the largest block on the blockchain.

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But it's not just any NFT that's causing heads to turn - it's the

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emergence of Ordinal NFTs that are fueling major activity and sending mixed

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signals among the derivatives market.

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Hosted by Tedd Huff, let's dive deeper into the world of Ordinal NFTs and

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their impact on the investment industry.

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Ordinal NFTs are a new breed of digital assets that represent real-world scarcity

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and are recorded in a blockchain network.

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Unlike other digital collectibles, they allow for transfer and trade

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of ownership through an agreed-upon protocol by participating users.

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This means that investors can buy and sell these digital assets, just

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like they would with traditional assets such as stocks and bonds.

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But what sets Ordinal NFTs apart is their potential to drive up

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accessibility and interoperability between different blockchains while

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simultaneously reducing transaction costs.

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They help to decentralize ownership of digital assets, making them accessible

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to more investors than ever before.

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The emergence of Ordinal NFTs has been a major talking point in the

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market, with investors excited about the potential gains they could make.

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The reveal of Ordinal NFTs has fueled major activity on the Bitcoin network,

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with investors buying and selling in anticipation of potential profits.

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However, the derivatives market has seen a decrease in volatility compared

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to previous weeks, leading investors to question the future of financial assets.

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The metrics slow down after the reveal of the Ordinal NFTs has

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sent mixed signals among investors.

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Some are optimistic about the potential for these digital collectibles to

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reshape the derivatives market, while others remain cautious.

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It's still early days for Ordinal NFTs, and their potential

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impact remains to be seen.

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The world of Web3 is constantly evolving, and only time will tell

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how these digital assets will fit into the larger financial ecosystem.

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Ordinal NFTs are the latest innovation in the world of digital

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assets, with the potential to reshape the investment industry.

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As the Bitcoin network experiences major activity, investors are

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keeping a close eye on the emergence of these digital collectibles.

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But as the derivatives market experiences a decrease in volatility, it remains

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to be seen whether Ordinal NFTs will have a lasting impact on the industry.

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Starbucks may have just hit the Jackpot.

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. . Let's delve into Starbucks' release

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which sold out in record time and is now fetching thousands of dollars.

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In recent years, digital art and collectibles have emerged as a new

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and exciting investment opportunity, with non-fungible tokens also

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known as NFTs, taking center stage.

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These digital assets have captured the attention of investors and

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businesses alike, and Starbucks has joined the ranks of companies

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embracing the trend with the release of the Holiday Cheer Edition 1 NFT.

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Given away to Starbucks Odyssey members who completed enough challenges and

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bought a gift card, these NFTs have already sold for thousands of dollars,

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signaling the potential for widespread adoption of digital collectibles.

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The Holiday Cheer Edition 1 NFT was created by an artist

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on the Polygon blockchain, and serves as a unique and artistic

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representation of the festive season.

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Each stamp has its own unique attributes, and buyers can personalize it with

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a special message or their name.

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The designs of the stamps are also mirrored in the flavors of the

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gift cards, creating a cohesive and memorable experience for the buyer.

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The NFTs were given away for free to Starbucks Odyssey members who

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completed challenges and bought gift cards, and were limited to

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a release of just 5,000 editions.

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The limited quantity and high demand resulted in the NFTs selling out

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within an hour of their release.

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Since then, the price of the collectible NFTs has climbed up to as high as

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$8,000, with some selling for a lower but still impressive amount of $2,000.

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The success of the Holiday Cheer Edition 1 NFT highlights the potential

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of digital collectibles as a new and exciting investment opportunity.

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Starbucks' move to create a digital NFT to celebrate the holiday season has

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paid off, and could pave the way for other businesses to embrace the trend.

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As digital goods continue to rise in popularity, this could be the start of

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a new era in the world of collectibles.

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The Starbucks NFT is, demonstrating the potential of digital collectibles as a

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new and lucrative investment opportunity.

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The limited release and high demand for the NFTs show that consumers are eager for

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unique and memorable digital experiences.

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This move by Starbucks could signal a new trend for businesses looking to embrace

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the world of digital collectibles, and could have far-reaching implications

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for the rewards and loyalty industry.

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Not all successes are treated equally in the world of NFTs.

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OpenSea's decision to suspend trading of Rihanna-related NFTs due to concerns

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over legitimacy and transparency.

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Big names from all industries are jumping on board to offer

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their own unique digital assets.

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It's clear that the world is taking notice of the potential

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of these digital collectibles.

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. . However; with great potential comes great

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trading on Rihanna's music NFTs serves as a reminder of the need for transparency

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and authentication in the NFT market.

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OpenSea, a major blockchain marketplace, recently announced a temporary halt on

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the trading of Rihanna-related NFTs due to investigations surrounding the legitimacy

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of the recently released digital assets.

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The NFTs were created in collaboration with crypto artist Beeple and

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sold for over $2 million, but fan skepticism and transparency

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issues have led to many probes.

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Some of the tokens were not properly validated, and much of the digital

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artwork was not properly marked with a designated copyright license.

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This suspension of trading serves as a reminder that the NFT market, like

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any other market, needs transparency and authentication to ensure the

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legitimacy and value of digital assets.

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The rise of NFTs has brought many benefits, such as the ability to represent

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and sell unique digital assets, but it has also brought new challenges, such

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as the need to ensure the authenticity and ownership of these assets.

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The world of NFTs is evolving rapidly, with new use cases and

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applications emerging every day.

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While the recent suspension of trading on Rihanna's music NFTs serves as a

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reminder of the need for transparency and authentication, it should not

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deter us from exploring the potential of NFTs in new and innovative ways.

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As the market continues to evolve, it is up to us to ensure that we

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continue to explore the possibilities while also upholding the integrity

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and legitimacy of digital assets.

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Moving on to Web3 business news: : There continues to be

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executive talent making moves.

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Coinbase's Chief Product Officer Surojit Chatterjee has taken a new executive

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position with venture capital firm Andreessen Horowitz (a16z) Crypto.

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Chatterjee is the latest addition to a16z's crypto unit, joining

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a growing list of reputable financial services industry pros.

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Chatterjee's experience in leading Coinbase's product efforts adds a unique

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layer of expertise to a16z's crypto unit.

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Additionally, a16z Crypto has welcomed established industry professionals

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such as Katie Haun, who is the former General Manager of Coinbase's

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cryptocurrency crime investigation team, and Chris Dixon and Kathryn Haun,

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both of whom also served at Coinbase.

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With the recent addition of Chatterjee to this notable list,

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a16z Crypto furthers its long-term strategy of building a comprehensive

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crypto and blockchain-focused unit.

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Preceeding this the Andreesen Horowitz Crypto unit fund has totaled

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approximately 7.6 Billion dollars to date, indicating the venture

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capital firm's commitment to grow its presence in the web3 and crypto space.

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The latest addition of Coinbase's Chief Product Officer Surojit Chatterjee

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to a16z Crypto's impressive line-up of executive in residence further

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strengthens a16z's foothold in the web3, crypto and blockchain space.

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A16z is set to revolutionize the industry and become the go-to investment firm for

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the upcoming generation of digital assets.

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At the intersection of Web2 and Web3; more tools continue to be

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introduced and become more mainstream.

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Bit 2 Me, the Spanish cryptocurrency exchange, has launched a new cashback

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debit card with Mastercard, which allows users to earn up to 9% crypto cashback

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on all purchases made in-store or online.

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The card and wallet support eight cryptocurrencies, including Bitcoin,

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Ethereum, Cardano, Ripple, Solana, Polkadot, and the stablecoin Tether,

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and the company plans to add more currencies throughout the year.

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The use of already established Web2 financial tools, like debit and credit

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cards, is an attempt to facilitate greater adoption of this revolutionary

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technology, according to Bit 2 Me's CEO and co-founder, Leif Ferreira.

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The Company's CEO and co-founder, Leif Ferreira, told Cointelegraph that his

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company is aiming to make the "limitless world of Web3 financial services" easily

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accessible to any user from anywhere in the world, at the touch of a button.

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The partnership with Mastercard will enable the exchange's users to receive up

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to 9% crypto cashback on all purchases, whether they are made online or in-store.

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The card and wallet support a variety of cryptocurrencies, including Bitcoin,

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Ethereum, Cardano, Ripple, Solana, Polkadot, and the stablecoin Tether.

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The move to incorporate already established Web2 financial tools,

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like debit and credit cards, is a strategic approach to making

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cryptocurrencies more mainstream.

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Bit 2 Me's existing card works via the Mastercard network that hosts

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millions of businesses worldwide.

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With the addition of the new cashback debit card, Bit2Me hopes to increase

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adoption of this revolutionary technology.

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The company is currently available to users in 69 countries worldwide.

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In addition to Bit 2 Me's card, Mastercard has been active in the

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Web3 space, offering new services and opportunities for clients and users.

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The company has partnered with at least seven blockchain and crypto

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startups to be part of its fintech accelerator program over the past year.

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It has also partnered with Polygon to launch a Web3 musician

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accelerator program, focusing on the intersection of the music

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industry and emerging technologies.

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In January, Mastercard announced a new effort with Binance to launch their second

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pre-paid crypto card in Latin America.

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In our last story for today might give a glimpse in to how the US

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Government is looking to tackle Web3.

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The not-for-profit U.S.

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government partner Mitre is looking for an economist with

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expertise in the Web3 ecosystem.

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The new addition to the team will join Mitre in its effort to better analyze

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and evaluate the web3 landscape.

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Mitre's mission is to bridge government, industry and academia for

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the welfare and defense of the U.S.

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Thus making it even more vital for Mitre to be aware of and stay abreast

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of the emerging web3 landscape.

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The posting specifies a candidate possessing both a knowledge of classical

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economics and the emerging web3 landscape.

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The ideal candidate will possess at least six months of experience with web3

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and in-depth knowledge on the subject which includes the likes of distributed

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ledgers, blockchain technology, and DeeFi.

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The job advertisement confirms Mitre's commitment to remain proactive

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and informed on the Web3 space.

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This new push is likely to increase the value, visibility, and accessibility

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of Mitre's services moving forward.

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Maybe this is a sign that they are headed in the right direction to stay relevent.

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As we wrap up today's episode of Web3 with FTC by Fintech Confidential.

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Today we've covered some of the biggest Web3 stories that are shaking up the

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Web3 world and what they mean for you.

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From the potential impact of New Jersey's proposed cryptocurrency regulations to

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the emergence of Ordinal NFTs and the latest developments in the world of

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digital collectibles, we've covered a wide range of topics in today's show.

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We also discussed the need for clearer regulatory guidance in

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the US, as highlighted by Ripple CEO Brad Garlinghouse, and the

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impressive line-up of executive talent at Andreessen Horowitz, Crypto.

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And let's not forget Bit 2 Me's new cashback debit card, which aims to promote

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wider adoption of crypto currencies.

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Finally, we discussed Mitre's new commitment to staying informed

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about the Web3 space, which promises to bring even greater value and

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accessibility to their services

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Thanks for tuning into “Web3 with FTC”, where we cover what’s behind the

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disruptive and innovative world of Web3, Blockchain, Crypto, NFTs and Fintech.

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And remember to follow us on our Telegram Channel, Linkedin, Facebook,

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and Instagram, and sign up for the latest news delivered straight to your inbox at

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access dot fintech confidential dot com.

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Support Provided By Solve path:

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get the best AI customer support software for your business.

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Get Started at www.

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get S O L V P A T H dot com

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The most common cause of bad customer experience Isn't that high

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tech it's embarrassingly simple.

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Yup.

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It's asking the right questions and reviewing some key data points

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before delivering an answer.

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Increasing the likelihood of satisfying the customer and

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delivering a swift resolution.

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In ecommerce, it's really easy to get bogged down with basic support inquiries,

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whether that's where is my package, how do I return or exchange this item

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or just to cancel a subscription.

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And so what is Solvpath?

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In a nutshell, Solvpath is an A.I.-driven customer support system that uses a

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visual format and self-serve technology to quickly and effectively resolve

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issues, resulting in satisfying support experiences for customers.

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Customize a visual support experience for your ecommerce brands and

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increase your overall performance, enhance the customer experience and

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drastically reduce support costs.

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Get the best customer support system for your business.

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Get Solvpath.

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Get started by visiting get solve path dot com

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with All Rights Reserved.

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financial, or other advice.

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We strive to provide accurate and up-to-date information, but will

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You comply and understand that you should use any of this

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information at your own risk.

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