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Quick Take

• Disclaimer: The Block Research team has, is, and will be experimenting with the various protocols, projects, and applications mentioned in this series. The projects mentioned in our reports are not recommendations from our team and should not be misconstrued as investment advice. Many projects that appear in this series are highly experimental and, as such, will come with risks. Readers should evaluate their own risk tolerance before experimenting with these projects.
• DeFi Digest is a weekly digest that summarizes recently launched projects and applications that our research team found interesting.
• This week’s digest looks at Fractional and Risk Harbor

Quick Take

• Teen artists are converting their artwork into non-fungible tokens (NFTs) and selling their pieces for thousands of dollars. 
• 18-year-old artist FEWOCiOUS is one of the many young creatives that has garnered fame and recognition in the space, inspiring many to follow in his footsteps. 

Six state-owned banks in Shanghai have opened up their digital yuan wallets for the public to apply in another step toward a wider rollout.

The post Major Chinese banks are now allowing people to apply for digital yuan wallets appeared first on The Block.

Binance is continuing to add former regulators to its team of compliance advisors, according to an announcement.

The post Binance adds two former FATF members to its team of advisors appeared first on The Block.

The NFT was sold to collector @3fmusic for 350 ETH today. The proceeds of the sale will go to a fund established by the newspaper.

The post An NFT tied to a New York Times column has sold for nearly $560,000 in ETH appeared first on The Block.

An Instagram influencer known as Jay Mazini has been accused of defrauding his followers in an alleged scheme that resulted in the theft of some $2.5 million in bitcoin, according to a release from the Department of Justice. 

The post Instagram influencer charged with allegedly defrauding followers of their bitcoin appeared first on The Block.

Quick Take

• Decentralized identity solutions that leverage blockchain technology are challenging centralized identity management paradigms.
• Identity issuers, holders, and verifiers could all stand to benefit by moving ID management processes onto distributed ledgers and blockchains. 
• While product experimentation is still underway, ID holders, application development companies, and blockchain consulting companies are well positioned to capture value should decentralized ID solutions achieve product market fit.

Crypto staking services firm Staked has entered into the asset management space with its new ether (ETH) trust product.

The post Staked launches ETH trust that allows users to also earn staking rewards appeared first on The Block.

NFT marketplaces and vendors can now offer buyers the choice of transacting via traditional or crypto payments using Circle’s NFT solution.

The post Circle is rolling out a payments solution for NFT marketplaces appeared first on The Block.