Metaverse could be worth $5 trillion by 2030: McKinsey report

Global spending in the Metaverse could reach $5 trillion by 2030, according to a new report from international consulting firm McKinsey & Company. McKinsey used this data to predict that the future of consumer behavior in the metaverse will most likely be divided into five primary activities: gaming, socializing, fitness, commerce and remote learning.

Circle launches euro-backed stablecoin EUROC

USD Coin (USDC) issuer Circle Internet Financial is launching a fully-reserved stablecoin pegged to the euro, signaling to the market that demand for crypto foreign exchange services remains high despite recent industry turmoil.

Swiss luxury watchmaker TAG Heuer introduces NFT-enabled smartwatch

Watchmaker TAG Heuer has partnered with the well-known NFT community surrounding Bored Ape Yacht Club and CLONE-X to create a smartwatch that displays NFTs and connects to crypto wallets such as MetaMask and Ledger Live.

Elon Musk gets hit with ‘ridiculous’ $258B Dogecoin lawsuit

Billionaire Elon Musk, along with his companies SpaceX and Tesla Inc, are all being sued for an astonishing $258 billion in damages for being “engaged in a crypto pyramid scheme” involving Dogecoin (DOGE). The class-action lawsuit alleges that Musk “used his pedestal as World’s Richest man to operate and manipulate the Dogecoin Pyramid Scheme for profit, exposure, and amusement.”

State securities regulators investigate Celsius over withdrawal suspension

Texas State Securities Board director of enforcement division Joseph Rotunda said regulators in Alabama, Kentucky, New Jersey, Texas and Washington began investigating Celsius after the platform announced it would be “pausing all withdrawals, swaps and transfers between accounts.”