Web3 Diaries-Y00ts NFT Collection Migrating To Ethereum
Y00ts, a non-fungible token (NFT) collection that was once among the top projects on Solana, plans to migrate away from Polygon and return the $3 million grant it received from the Ethereum layer 2 earlier this year.
Y00ts said it planned to migrate to Ethereum in order to “unite the DeGods and y00ts communities.” DeGods, another project created by Los Angeles-based startup DeLabs, migrated to Ethereum in April.
Y00ts said that the date of the migration would be announced “shortly.” DeGods also announced the upcoming release of a Season III collection in tandem with the migration news.
Bitcoin Miner Riot Posts Mixed Q2 Earnings; Sees Growing Consolidation in Industry
Riot Platforms (RIOT), one of the largest publicly-traded bitcoin miners, reported mixed earnings during the second-quarter of 2023. It reported an adjusted earnings per share loss of $0.17, beating FactSet consensus analyst estimates for a loss of $0.20 per share, but revenue came in $76.7 million, short of analyst estimates of $84.6 million.
Quarterly revenue consisted of $49.7 million from bitcoin mining, $7.7 million from data center hosting and $19.3 million from engineering. The quarterly revenue compared to $72.9 million in the year-ago period, with the rise driven by a 27% increase in bitcoin production, offset by lower bitcoin prices.
Shares of Riot were falling 1.4% to $16.12 in after-hours trading on Wednesday. Riot shares are up more than 383% this year, having benefited from the strong performance of bitcoin.
SEC Will Appeal XRP Ruling In Case Against Ripple, Regulator Says
The U.S. Securities and Exchange Commission (SEC) said in a court document on Wednesday that it will submit an “interlocutory appeal” of the judge’s decision on Ripple’s programmatic XRP sales.
As other aspects of the SEC’s case go toward trial, the SEC said it was asking for “leave to” appeal a portion of a recent ruling. The regulator said that granting an interlocutory appeal might avoid the necessity for two trials for the SEC and the government.
“Specifically, the SEC seeks to certify the Court’s holding that Defendants’ “Programmatic’ offers and sales to XRP buyers over crypto asset trading platforms and Ripple’s ‘Other Distributions’ in exchange for labor and services did not involve the offer or sale of securities under the Howey test,” the SEC filing said.
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