Yuga Labs Announces Open Beta Test for Legends of the Mara Game, SEC Delays Decision on Bitcoin ETF Applications, and Ronaldinho Denies Involvement in Crypto Pyramid Scheme

In the world of blockchain and cryptocurrencies, exciting developments and unexpected challenges continue to shape the industry. Today, we bring you the latest updates on Yuga Labs’ upcoming game, Legends of the Mara, the delayed decision of the U.S. Securities and Exchange Commission (SEC) on bitcoin exchange-traded fund (ETF) applications, and retired soccer star Ronaldinho Gaúcho’s denial of involvement in a crypto pyramid scheme.

Yuga Labs, the innovative creator of the highly popular Bored Ape Yacht Club, has announced an open beta test for its new game, Legends of the Mara. Scheduled to launch in September, this game will provide virtual land NFT holders with a fresh NFT and a glimpse into the expansive Otherside metaverse. Legends of the Mara is a collection-based 2D strategy game set in the Otherside metaverse, which itself is a vast and immersive 3D gaming experience. Players will have the opportunity to evolve their Mara characters into powerful Kodamaras, safeguarding their virtual lands from evil forces. All land holders will be entitled to claim a Vessel, which has the potential to further evolve into a Kodamara. The development team plans to unveil more exciting features as the full launch approaches, paving the way for an extraordinary gaming experience.

Meanwhile, the SEC has delayed its decision on several spot bitcoin ETF applications, causing a 4.1% drop in bitcoin’s price over the past 24 hours. The applications from notable names such as BlackRock, WisdomTree, Invesco Galaxy, Wise Origin, VanEck, Bitwise, and Valkyrie Digital Assets are affected. The commission has extended the comment periods for these applications, allowing for additional public input. The new deadlines for the decision range from October 16 to October 17. This delay follows a ruling by the D.C. Circuit Court of Appeals, which criticized the SEC’s rejection of certain bitcoin ETF applications as “arbitrary and capricious.” As a result, the SEC has been instructed to reassess these applications.

Moreover, retired soccer legend Ronaldinho Gaúcho recently testified at a congressional hearing in Brazil, vehemently denying any involvement in a $61 million crypto pyramid scheme known as ’18kRonaldinho’. The scheme promised daily returns on crypto investments, leading to a lawsuit seeking damages against the company. Ronaldinho claims that his name and image were used without his authorization, and he categorically states that he, too, was a victim of the fraudulent scheme. The player explained that he had a contract with a subsidiary of the company that sells watches, but the agreement was terminated before execution. While Ronaldinho did not comment on his intentions regarding reimbursement or the lawsuit, the ongoing congressional inquiry aims to investigate various companies accused of falsely promising high returns using cryptocurrencies.

The blockchain and crypto space remains a dynamic realm filled with ambitious projects, regulatory challenges, and occasional controversies. As we await the open beta test for Legends of the Mara, keep an eye on the SEC’s deliberations concerning bitcoin ETF applications, and follow the progress of Ronaldinho’s legal situation, expect the blockchain industry to continue surprising us with new developments. Stay tuned for further updates as these stories unfold.

Recent Articles


Related Stories

Leave A Reply

Please enter your comment!
Please enter your name here

Stay on top - Get the daily news in your inbox