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Johnny Depp's NFT collection spiked / Japan passed a bill to regulate stablecoins / Canadians are investing in Bitcoin ETFs despite market crash

Also, Warner Bros. launching NFT collection

Inside.com Part of   Network June 03, 2022

Johnny Depp's NFT collection called "Never Fear Truth" surged as the actor won the legal battle against ex-wife Amber Heard. The collection consists of Depp's artwork and was recently marked as authentic by MakersPlace last month.  More:  The collection consists of 3,850 NFTs that had a floor price of 0.52 ETH and peaked at 1.64 ETH. The collection is listed on OpeaSea and minted on Ethereum.  Depp's collection consists of images of "Friends and Heroes," including Heath Ledger, Tim Burton, River Phoenix, Elizabeth Taylor, Al Pacino, and Hunter S. Thompson. The collection was launched in January, and since the trial started in March, it had not seen much interest or traction.  A quarter of the proceeds of the NFT sales will be donated to charities such as the Elizabeth Taylor AIDS Foundation, Great Ormond Street Children's Hospital, The Gonzo Trust, and the Los Angeles Children's Hospital. Decrypt

Japan passed a bill classifying stablecoins as "digital money." The new bill, which was prepared by Japan's Financial Services Agency (FSA) in Dec. 2021, passed in Parliament in March and officially received approval this week. More:  The legislation takes effect next year, paving the path for stablecoins to be linked to the yen or another legal tender and allowing holders to redeem them at face value.  Stablecoins in Japan can only be issued by banks, registered money transfer agents, and trust companies. We can expect more regulations in Japan concerning rules for stablecoin issuers in the next couple of months.  Mitsubishi UFJ Trust and Banking Corp is releasing its own stablecoin that is fully backed by the yen reserves.  Decrypt

Canadians are investing in The Purpose Bitcoin ETF as trading activities have increased over the past five days despite the recent market crash. Crypto investors in Canada have not lost interest in this market, as the fund holdings have increased to 43,701.7 BTC, marking the highest level on record.  More:  The Canadian spot Bitcoin ETF purchased 2,006 BTC on Thursday and 2,780 BTC on Tuesday, indicating an increased interest in crypto by institutional buyers.  Bitcoin product sales increased to $69M, and digital asset investments increased to $87M in total; however, the total assets under management (AUM) are at their lowest point since mid-2021.  Analysts seem bearish on the crypto market in the short term, with some expecting bitcoin to drop as low as $14,000, but its long-term prospect still remains positive as younger investors seem bullish in the crypto industry.  Coin Telegraph

California Democrat Timothy Ursich wants to make Dogecoin a legal tender if he wins the U.S. Senate election. Ursich vowed to introduce a bill that would make Dogecoin an official payment method. He also said that the current top two cryptocurrencies, Bitcoin and Ether, are the best tools right now against inflation. More:  Ursich is running to finish out the term of Kamala Harris, who gave up the job when she was elected Vice President. Alex Padilla was appointed to fill the role, but that appointment is temporary, pending the outcome of the special election. The winner would only serve for about six months. There is also the primary election for the November general election, with the winner serving from Jan. 2023 to Jan. 2029. Crypto Potato

Warner Bros. partnered with Nifty to launch a story-driven NFT collection called "Looney Tunes." The upcoming NFTs-based storyline is being released in time for Tweety's 80th anniversary.  More:  Warner Bros is focusing on a Looney Tunes-based blockchain program that will utilize NFTs to tell a unique storyline. It will be called "Looney Tunes: What's Up Block?" Nifty is a social media platform that is based on NFTs.  The NFT program will allow fans to participate in events while earning rewards. Some benefits include access to Looney Tunes merchandise and a virtual meet and greet, along with new content and NFT drops.  The pre-sale is on June 20, and the public sale will go live the following day. The NFTs will be minted on the Palm blockchain network.  Bitcoin.com

The Commodity Futures Trading Commission filed a lawsuit against the Gemini Trust cryptocurrency exchange for allegedly making false and misleading statements over its Bitcoin project. The exchange was founded by Cameron and Tyler Winklevoss, former classmates of Mark Zuckerberg who sued Facebook's CEO for stealing their idea for the social media platform.   More:  The Commodity Futures Trading Commission lawsuit was filed in federal court in New York, accusing the company of failing to disclose information on how easy it was to manipulate its Bitcoin futures project.  The futures contract was launched in 2017 but stopped trading nearly two years later. The company is now being sued for allegedly making false statements to the commission and preventing the agency from protecting market participants and price manipulation.  The U.S. regulator believes that a legal penalty will prevent Gemini from making such claims in the future and is seeking financial penalties. Gemini's founders responded with the following statement: "We have an eight-year track record of asking for permission, not forgiveness, and always doing the right thing," it told AFP, adding: "We look forward to definitively proving this in court."  rFi

Quick Hits: Find out which of these types of partnerships 110 executives preferred the most in the survey results.* A crypto firm believes that many cryptocurrencies will crash, and only some will remain in the market.  Crypto scams are on the rise, with over $1B lost just last year. Analysts predict a price drop for XRP as geopolitical shifts take place over the next couple of months.  Critics are not too happy about TerraLab's relaunch of the LUNA token.  In a recent survey, 70% of respondents said their employment records more accurately reflect their ability to repay than their credit score.* *This is sponsored content.

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Gia Mattu is based in Calgary, Alberta. She is an entrepreneur with experience in climate technology, drones, AI, machine learning, and blockchain technology. When she's not working, she loves to hike the Canadian Rockies, try new cuisine, and travel.  Editor Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford.

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