Everything you need to know ahead of Wednesday’s trading on the Saudi Stock Exchange

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Bitcoin, the leading international cryptocurrency, traded lower on Wednesday, down 3.11% to $45,311 as of 8:00 a.m. Riyadh time.

Ether, the second most traded cryptocurrency, was priced at $3,351, down 4.96%, according to data from Coindesk.

The future of Hollywood is in the blockchain: CEO of WarnerMedia

WarnerMedia CEO Jason Kilar says the future of Hollywood is in the blockchain as he prepares to leave the media company he helped lead into the age of streaming.

Kilar’s career has straddled Hollywood and Silicon Valley, and he sees blockchain, the digital ledgers that keep track of transactions on computer networks, as transforming the entertainment industry, especially as the process of acquiring unique digital collectibles such as NFTs just got easier.

“I think there’s going to be a potential wave in Hollywood, the same way the DVD wave came to Hollywood in the 90s,” Kilar told Reuters in an interview after announcing his departure to staff on Tuesday.

New Sanctions Against Russian Darknet And Crypto Exchange

The US Treasury Department on Tuesday imposed sanctions on a major Russian-based darknet market site and cryptocurrency exchange that operates primarily out of Moscow and St. Petersburg.

Sanctions against Hydra and the Garantex currency exchange, posted on the Treasury Department’s website, “send a message to criminals today that you can’t hide on the darknet or their forums,” the secretary said. Treasure Janet Yellen.

According to blockchain researchers, around 86% of illicit bitcoin received directly by Russian crypto exchanges in 2019 came from Hydra, which the Treasury Department has described as the “largest and most important darknet market in the world”.

The Treasury said the new sanctions prohibit U.S. nationals from making or receiving “any contribution or provision of funds, goods or services” to Hydra or Garantex.

Will Smith’s venture capital firm invests in blockchain

Ethereum blockchain scaling platform Boba Network raised $45 million in its Series A, with participation from investors including Dreamers VC led by Will Smith, Paris Hilton and her husband’s M13 Carter Reum, and cryptocurrency exchange Crypto.com, the company announced on Tuesday.

The funding round gives Boba a valuation of $1.5 billion, with former football quarterback Joe Montana and crypto funds Hypersphere and Infinite Capital also making investments.

The company plans to use the funds to expand Web3 offerings and invest in projects built on its ecosystem, founder Alan Chiu said.

The market capitalization of the Boba Network crypto token increased by more than 19% to $272.1 million after the announcement, while its price rose from $1.44 to $1.71, according to CoinMarketCap.

US strengthens investor protections

On Monday, Gary Gensler, the head of the US securities regulator, said the agency was considering how it could extend the investor protections given to users of exchanges and alternative trading platforms to crypto trading platforms.

The expanded Securities and Exchange Commission, or SEC, would see the agency regulate platforms on which trading in securities and non-securities is “intertwined” by requiring them to register with the SEC, Gensler said in a virtual speech to an audience at the University of Pennsylvania, his alma mater.

(With contributions from Reuters)

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