Crypto news recap: Snoop Dogg dives into NFTs
ALBAWABA- In crypto news recap, recent highlights include licensing achievements, dispelling market manipulation rumors, and Snoop Dogg’s foray into NFTs. These developments underscore the expanding influence of cryptocurrencies and blockchain technology in mainstream culture. So let’s dive in!
Dubai’s VARA grants OKX ‘preparatory’ license
OKX, the Middle Eastern arm of a cryptocurrency exchange, has received a preparatory license from Dubai’s Virtual Assets Regulatory Authority (VARA) as part of its expansion plans in the region. In an announcement on June 15, OKX revealed that it intends to increase its workforce in Dubai to 30 employees and has already established an office in the prestigious World Trade Center building. VARA had previously granted OKX a provisional operating license in July 2022, enabling the company to offer its products and services in the area. Tim Byun, OKX’s global head of government relations, emphasized the significance of obtaining licensing in Dubai, highlighting the importance of strong regulatory compliance, security, transparency, and adherence to clear regulations for virtual asset service providers (VASPs) in the current uncertain market environment.
Binance CEO dismisses allegations of selling bitcoin to stabilize BNB price
Binance CEO Changpeng “CZ” Zhao has denied allegations suggesting that Binance engaged in the covert selling of Bitcoin (BTC) to stabilize the price of its BNB token artificially. Various market commentators recently made these claims, accusing the exchange of deliberate market manipulation aimed at inflating the value of BNB. CZ firmly stated that Binance has not sold any BTC or BNB and revealed that the crypto exchange still holds a quantity of FTX Token, the native token of the now-defunct FTX crypto exchange.
Snoop Dogg introduces NFT project
Snoop Dogg, the renowned rap icon and entrepreneur, is once again immersing himself in the world of Web3 with a new nonfungible token (NFT) project that allows his fans to join him on tour through digital means.
The recently announced Snoop Dogg Passport Series comprises an NFT collection that grants access to exclusive content, including behind-the-scenes videos and photos captured by Snoop Dogg while on tour. Holders of the NFT passport will also have the opportunity to participate in future releases, such as artwork and merchandise.
Snoop Dogg, known for his forward-thinking approach, expressed his belief in the future of digital merchandise and encouraged fellow artists to embrace innovation. “I’m hoping other artists can see what I’m doing and continue to innovate on their own,” he stated.
The collaboration for this project took place with Transient Labs, a Web3 platform. Chris Ostoich, the Chief Operating Officer of Transient Labs, highlighted their commitment to utilizing blockchain technology to offer unique experiences. The partnership with Snoop Dogg enables them to further achieve this goal.