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Will BlackRock Take ETH To the Moon? 🚀
In today’s edition: 💱 Paxos gets SG approval, 🚫 Solana denies phone risk, 🔐 Crypto license for Commerzbank, and more!
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by Brandy Betz, Juan Aranovich, and Samyuktha Sriram
The move aligns with BlackRock’s growing focus on digital assets, as indicated by its earlier Bitcoin ETF proposal and Larry Fink’s appearances on TV.
Stablecoin issuer Paxos has received in-principle approval from Singapore’s central bank to offer digital payment token services in the city-state.
The team behind Solana Labs’ Saga phone refuted CertiK’s claims that the device was vulnerable to an exploit.
The bank will create a custodial platform for institutional clients in the latest signal that German banks are embracing crypto.
The recent Wall Street Journal article that claimed Hamas raised $130 million via cryptocurrency has sparked considerable debate, especially after Sen. Elizabeth Warren used it as her sole source to ask for tighter regulations around crypto. However, the veracity of this claim has come under scrutiny.
Yaya Fanusie, Jessi Brooks, and Andrew Fierman delve into the veracity of reported figures, the methodology behind them, and the subsequent industry responses that sought to correct the public record. They examine the political implications of cryptocurrency, its use in funding organizations, and the nuanced role of stablecoins in this digital economy. Additionally, they address the broader challenges in regulating crypto to prevent illicit funding, emphasizing the need for factual accuracy and a comprehensive approach to understanding and tackling such complex issues.
⚖️ A judge denied a motion by FTX lawyers to delay bankruptcy proceedings to investigate the company's insolvency.
⏱️ The SEC delayed its decision on converting Hashdex Bitcoin and Ethereum futures ETFs to spot ETFs until January 1, 2024.
🚨 CFTC Chair Rostin Behnam warned that without regulatory changes, another FTX-like crypto exchange collapse could occur, as "nothing has changed" since last year.
🚫 Tether and Bitfinex avoided an appeal in a class-action lawsuit after the plaintiff elected not to appeal a recent ruling.
📝 New York’s financial regulator issued guidance for crypto firms on token listing and delisting, requiring approval of their policies.
🕹️ PancakeSwap launched a gaming marketplace, allowing developers to build and update games with web3 elements like cryptocurrency and NFTs.
🛡️ Nocturne launched on the Ethereum mainnet, introducing on-chain private accounts to enhance transaction privacy while being compatible with existing DeFi protocols.
🔍 Darknet fentanyl sales slowed following a U.S. crackdown, with TRM Labs reporting a decrease in crypto inflows to known vendor wallets.
🤖 Blockchain developer Lattice unveiled 'Redstone,' an 'alternative data availability' network for Optimism's ecosystem, aiming to reduce costs for gaming and decentralized applications.
Today in Crypto Adoption...
💰 The National Bank of Kazakhstan initiated a pilot for a central bank digital currency (CBDC), making the first retail payment with the digital tenge.
🔗 JPMorgan, WisdomTree, and others partnered on a blockchain interoperability proof-of-concept for investment portfolio management, demonstrating the potential for cross-chain asset management.
🌏 Binance and Gulf Energy are set to launch a crypto exchange in Thailand, with operations approved by Thailand’s Securities and Exchange Commission.
The $$$ Corner…
🎮 Boyaa Interactive, a gaming company, announced plans to invest up to $100 million in cryptocurrencies, mainly bitcoin and ether, to enhance their Web3 strategy.
💵 Superstate closed part of a $14 million Series A funding round led by CoinFund and Distributed Global, focusing on blockchain-based asset management.
🌍 CFX Labs raised $9.5 million to expand its Solana blockchain-based stablecoin payment and remittance network globally, featuring fast and affordable transactions.
🌐 Kinto disclosed a $5 million raise to develop an Ethereum layer-2 network with native KYC checks and investor accreditation for regulated financial institutions.
💰 Circle Ventures invested in Sei to expand the USDC ecosystem, aiming to enhance digital asset market liquidity and enable fast, global transactions.
🇰🇷 South Korea’s National Pension Service purchased $19.9 million worth of Coinbase shares, marking its first investment in a crypto-related security.
What Do You Meme?
Unchained: What Is a Bear Trap in Crypto?
📈 Your Market Update 📉
BTC is up 2.6%, trading at $37,222
ETH is up 1.9%, trading at $2,054
BTC dominance: 49.14%
Crypto market cap: $1.48T
*All data as of today, 07:40 am ET
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