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Tiffany & Co to turn CryptoPunk into custom pendants

Tiffany & Co has announced the sale of 250 diamond and gemstone encrusted pendants for CryptoPunk NFT holders.  The handcrafted CryptoPunk pendants were announced by the jewellery brand and are priced at 30 Ether each.

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Tiffany & Co has announced the sale of 250 diamond and gemstone encrusted pendants for CryptoPunk NFT holders.  The handcrafted CryptoPunk pendants were announced by the jewellery brand and are priced at 30 Ether each.

According to an NFTiffs FAQ page, the NFTiff token sale is set to launch on August 5 at 2:00 pm UTC, and will only be available for purchase NFTiff tokens via its website.

Each CryptoPunk is limited to a maximum of three NFTiff tokens that allow them to mint a customized pendant. There are 87 different attributes and 159 colors that can be used to custom design the pendants, and the pendant itself will be composed of 18-Karat rose or yellow gold, based on the color palette of the NFT. 

The campaign was first promoted by Tiffany & Co vice president Alexandre Arnault, who owns CryptoPunk #3167 in April. The jewellery company first ventured into NFTs in March when they purchased an Okapi NFT from contemporary artist Tom Sachs for $380,000. Tiffany & Co have since set the rocket-styled NFT as their profile picture on Twitter.

Luxury brands are no strangers to the crypto space, with many beginning to accept crypto as payment, such as Gucci, Balenciaga and Farfetch.

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7-Eleven South Korea to accept CBDC payments in national pilot program

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7-Eleven is set to participate in the testing phase of a central bank digital currency (CBDC) initiative, running from April to June. The retail giant’s involvement highlights the growing push for digital currency integration in everyday transactions.

The pilot program will assess the feasibility of CBDC payments at 7-Eleven stores, allowing customers to make purchases using the digital currency. The initiative is part of a broader effort to explore the real-world application of CBDCs in retail environments, potentially shaping future payment systems.

As central banks worldwide accelerate their digital currency research, private sector collaboration is seen as crucial for widespread adoption. If successful, 7-Eleven’s participation could pave the way for broader CBDC usage across retail and commercial sectors.

The outcome of the testing phase will provide valuable insights into consumer adoption, transaction efficiency, and potential regulatory considerations, influencing how CBDCs are integrated into mainstream financial systems.

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SEC and Gemini ask to pause lawsuit to explore ‘potential resolution’

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The U.S. Securities and Exchange Commission (SEC) and crypto exchange Gemini have agreed to pause legal proceedings as both sides explore a potential resolution to their ongoing lawsuit. The move signals a possible settlement in the high-profile case, which centers around Gemini’s now-defunct Earn program.

The SEC initially sued Gemini, alleging that the Earn program—designed to offer users yield on crypto deposits—operated as an unregistered securities offering. Gemini has pushed back against the claims, arguing that its operations complied with regulatory standards.

By pausing litigation, both parties may be looking for a compromise that could set a precedent for crypto lending products in the U.S. A settlement could also provide regulatory clarity for similar platforms navigating SEC scrutiny.

While the outcome remains uncertain, the crypto industry is closely watching the case, as its resolution could impact future enforcement actions and the broader regulatory approach toward digital asset lending services.

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GameStop finishes $1.5B raise to add Bitcoin to its balance sheet

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GameStop has successfully completed a debt offering, raising capital that may be used to acquire Bitcoin, signaling the company’s deeper foray into digital assets. The move aligns with its broader strategy to diversify beyond traditional retail operations and into emerging financial technologies.

While GameStop has not confirmed the exact allocation of the funds, market speculation suggests that a portion could be used to buy Bitcoin, following in the footsteps of companies like MicroStrategy. The potential investment would reinforce GameStop’s ongoing pivot toward blockchain and digital assets, an effort that began with its NFT marketplace and crypto-related initiatives.

Analysts see this development as part of a growing trend of corporations exploring Bitcoin as a reserve asset amid concerns over inflation and monetary policy. If GameStop proceeds with the acquisition, it could further validate Bitcoin’s role as a strategic investment for publicly traded companies.

The company’s board will ultimately decide how the newly raised capital is deployed. Investors and the broader crypto market are watching closely for any official announcements regarding GameStop’s Bitcoin strategy.

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