The Financial Conduct Authority (FCA) consultation implies reducing the number of firms with marketing communications approval authority. Once the Financial Services and Markets Bill is enacted into law, only businesses with FCA permission will be able to approve crypto advertising material.

Coca-Cola and Crypto.com have joined hands to release 10,000 FIFA World Cup NFTs. A digital artist, GMUK, will make the NFTs and host them on the NFT platform on Crypto.com. The NFTs were made by tracking the movements of players in FIFA World Cup matches.

ByBit is another crypto exchange to introduce massive layoffs of 30%. CEO Ben Zhou said they have to reorganize their business amid a deepening bear market, and reducing the workforce is one of the main operations.

The cryptocurrency exchange Kraken announced on Wednesday that it will lay off approximately 1,100 employees, or 30% of its global workforce. Earlier this year, Kraken declared that it was actively hiring. This is a response to the drastic crypto winter.

Porsche plans to launch its first Web3 project, which will consist of 7,500 NFTs. The NFT collection is based on the classic Porsche 911 and will launch in January 2023. Each NFT will be built as a unique 3D asset in Unreal Engine 5.

One of the largest Solana-based wallets Phantom is expanding to other blockchains. The wallet will expand to Polygon and Ethereum, threatning the market leader Metamask. Phantom reportedly now has more than 3 million users.

Wheat futures continue to tumble to $7, reaching levels not seen since September 2021. This is the direct result of strong supply from the world’s top producers and signs of smaller demand. Wheat is down 45% from its peak since Ukraine started exporting the commodity again after a long shutdown.

The Financial Conduct Authority (FCA) consultation implies reducing the number of firms with marketing communications approval authority. Once the Financial Services and Markets Bill is enacted into law, only businesses with FCA permission will be able to approve crypto advertising material.

After falling 7% for the day, GitLab surged almost 20% to $45 after hours when they posted quarterly results. Analysts had forecasted a loss of $0.15 per share on revenue of $106 million. GitLab racked up $113 million in revenue instead, with a $0.10 loss per share.

The Reserve Bank of Australia raised the interest rate by 25 bps to 3.1%, in line with market expectations. This was the eighth rate hike in a row, bringing borrowing costs to a level not seen since late 2012. The board has said that there will be more rate hikes in the future because inflation in Australia is still high.

Circle, the company that created one of the most prominent stablecoins, USDC, has canceled its plans to go public. Circle had publicly announced plans for an IPO in July 2021, with a market valuation of $4.5 billion through SPAC.

Coca-Cola and Crypto.com have joined hands to release 10,000 FIFA World Cup NFTs. A digital artist, GMUK, will make the NFTs and host them on the NFT platform on Crypto.com. The NFTs were made by tracking the movements of players in FIFA World Cup matches.