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SEC Requires Meta (Facebook) To Give Shareholders To Vote on Metaverse Plan

Daily Market Wrap


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Top gainer: Kyber Network Crystal v2 (KNC), up 16.13%

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News of the Day


The U.S. Securities and Exchange Commission (SEC) said Meta (Facebook) needs to allow shareholders an opportunity to consider and vote on its metaverse business plan later this year.


Why it matters:

  • Meta Platforms Inc. had earlier said they will put a $50 million investment in global research and program partners to ensure their metaverse are developed responsibly

  • SEC comments on the metaverse project proposal first filed in December 2021 by activist investor firm Arjuna Capital LLC is “transcends typical business”

  • A Meta spokesperson declined to comment on the SEC’s decision and said they will value the views of their investors and regularly engage with them to get their perspective


Crypto daily spotlight


Anchor Protocol, a decentralized savings platform, is now offering new DeFi opportunities for ATOM holders.


Brief introduction: Anchor Protocol is a decentralized savings protocol offering low-volatile yields on Terra stablecoin deposits. It offers lucrative nearly 20% APY of passive income opportunities for depositors and provides borrowers easy access to collateral-backed stablecoin loans.


Why it matters:

  • In order to offer stable yields for Anchor, it needs to onboard multiple yield-bearing liquid-staked PoS assets as collateral

  • bATOM is the wrapped version of stkATOM on the Terra blockchain. All holders of bATOM (uncollateralized) on Anchor will be able to claim their staking rewards in the form of UST

  • This is the 4th collateral asset available on Anchor Protocol that would result in a more robust system.

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About Aspen Digital


Aspen Digital is a leading technology and financial services company with a mission to accelerate the mass adoption of digital assets. The company provides a digital asset management solution for asset managers, institutions, and sophisticated investors. Aspen Digital was co-founded by digital assets innovators and asset management veterans at Everest Ventures Group (“EVG”) and TT Bond Partners (“TTB”) in 2021.


For more information, please visit https://www.aspendigital.co/


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