NFTs banned in Minecraft, SEC lists 9 tokens as securities, and 3AC founder blames arrogance for company collapse: Hodler's Digest, July 17-23

Available every Saturday, Hodler's Digest will help you follow every major news story that happened this week. The best (and worst) quotes, adoption and regulatory highlights, major coins, predictions and more - a week on Cointelegraph in one link.

Top stories this week 3AC Founders Reveal Ties to Terra Founder, Blame Overconfidence for Collapse

After a five-week absence, Su Zhu and Kyle Davies, the founders of former crypto hedge fund Three Arrows Capital (3AC), resurfaced via an interview with Bloomberg. The duo admitted to running the business with overconfidence due to the years-long bull market. They also noted that they were very close to the founder of Terra Do Kwon and, despite managing a large hedge fund, were shocked that the project's extremely risky algorithmic stablecoin went bankrupt. Zhu and Davies said they ignored several red flags due to kinship.

Mojang Studios bans Minecraft NFT integrations

Minecraft developers Mojang Studios this week banned non-fungible token (NFT) embeds in their hugely popular flagship game. The firm cited issues with NFTs associated with price speculation, exclusion, and all-in draws. “To ensure Minecraft players have a safe and inclusive experience, blockchain technologies are not permitted to be integrated into our client and server applications,” the company announced. Crypto-skeptical gamers have also called on Fornite developer Epic Games to follow suit, but the company said it "definitely won't" institute a similar ban.

SEC's listing of 9 tokens as securities in insider trading case 'could have broad implications' - CFTC

The U.S. Securities and Exchange Commission (SEC) has listed nine crypto assets as securities in connection with the insider trading case against former Coinbase chief product officer Ishan Wahi. The SEC named Powerledger (POWR), Kromatika (KROM), DFX Finance (DFX), Amp (AMP), Rally (RLY), Rari Governance Token (RGT), DerivDAO (DDX), LCX and XYO. These were just nine different assets out of a total of 25 that were allegedly used for insider trading purposes.

Experts Reveal What Tesla's $936 Million Sale Means for Bitcoin

Following news that Tesla sold 75% of its bitcoins in the second quarter for around $936 million, experts remained relatively unfazed. Markus Thielen, chief investment officer at digital asset manager IDEG, told Cointelegraph that Tesla likely sold its BTC because it was "considered a distraction from its core business." Stock trading expert from financial advisory site Finder, Kylie Purcell, has suggested that many companies have decided to “consolidate their capital in liquid currencies” in the current macroeconomic climate. Some Twitter users even called the decision "nothingburger", implying that Tesla's decision may ultimately be insignificant.

Amazon.eth ENS domain owner disregards USDC 1 million buyout offer on OpenSea

On Tuesday, the Amazon.eth ENS domain owned by an anonymous OpenSea user received a bid of one million USD coins. It has become common practice for speculators to register ENS domains under the names of prominent entities in hopes of earning a big payday. The offer went unanswered, however, and it's unclear why such a large sum of money was ignored. The second highest bid on the domain only totaled 6,300 USDC.

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