May 17, 2024

"CoinDesk Daily" host Jennifer Sanasie breaks down the biggest headlines impacting the crypto industry today, as Fantom blockchain's FTM token rose 13% in the past week, outperforming the broad market CoinDesk 20 Index.

Video transcript

Phantom's FTM Token rises on an upgrade and Dolce and Gabbana sued over its NFT project. You're watching Coin Desk daily. I'm your host, Jen Sani, the Phantom Blockchains. FTM is one of the best performing non meme tokens of the past week. This comes with the market's optimism on the roll out of its sonic upgrade and increases in the total value locked on the protocol. FTM rose 13% in the last seven days. Outperforming the broad market coin desk 20 index as of 9:30 a.m. eastern time. The FTM Token is trading around 80 cents and the coin desk 20 index remains above 2300. The Hong Kong Monetary Authority and the People's Bank of China have expanded. The digital Un pilot adopters can now set up the ecny wallets with just a phone number and pay merchants directly from those wallets without a mainland bank account. However, the wallets cannot be used for person to person transfers. That's according to a press release from the Hong Kong Monetary Authority, China and Hong Kong have been conducting cross border digital Un trials since late 2021. The Special Administrative Region has also been testing its own CBD C which entered the second phase of its pilot in March and Dolce and Gabbana has been sued for messing up the delivery of its NFT. That's according to reports by Bloomberg, the company promoted its NFT project telling customers that buying the NFT would grant them access to digital rewards, physical products and exclusive events. The report says that customer Luke Brown spent $6000 on the asset and lost about 5800. The customer alleges that the delivery was late and the NFTS came with outfits to wear in the metaverse, but the digital outfits showed up 20 days behind schedule and could only be used in a metaverse with a low user base. That's it for coin desk daily. Get more updates on and we'll see you next time.

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