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Get your daily, bite-sized roundup of crypto asset and blockchain news – and investigate the stories flying under the radar of today’s crypto news.
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Investment news
- Large U.S. crypto investment firm Grayscale Investments said it sold some existing components of its Digital Large Cap Fund and used the proceeds to purchase Cardano (ADA). At the end of the day on July 1, the fund components were a basket of 67.47% Bitcoin (BTC), 25.39% Ethereum (ETH), 4.26% ADA, 1.03% Bitcoin Cash (BCH), 0, 99% Litecoin (LTC), and 0.86% chain link (LINK).
- Two senior analysts at banking giant JPMorgan said Ethereum’s move to staking could generate an industry of $ 40 billion by 2025, while at that point it generates around $ 9 billion annually, according to a report by Forbes. They also predict that staking will become a growing source of income for crypto asset brokers.
- $ 200 million crypto hedge fund owned by a JPMorgan and Goldman Sachs alumni, Nickel Digital Asset Management, moved into a cash position after the crypto market crashed in May, Bloomberg reported. The company turned its capital in anticipation of another explosive rise in the price of cryptocurrencies.
- Bling, a platform that enables game developers to give out Bitcoin rewards, has completed an unspecified round of seeds to grow its team and evolve its platform. The round included a strategic investment from Coinbase Ventures, they added.
Business news
- In the US, the number of employees rose 559,000 in May after a revised increase of 278,000 in April, Bloomberg reported. The median estimate in a Bloomberg survey of economists was an increase of 675,000. The unemployment rate has fallen to 5.8%, while the employment rate has hardly changed, she added.
Exchange messages
Related Posts
- Huobi Global crypto exchange said it introduced a 24-hour token withdrawal delay for all over-the-counter (OTC) trades. This is part of an effort to “gradually introduce a range of risk control strategies that will encompass a larger segment of users,” the exchange said, adding that it expects the delay “to be effective in preventing user losses caused by the inflow of risky funds and protects “. the safety of users’ assets. “
- Coinbase has started giving institutional customers access to more trading pairs and payment options using fiat currencies, it said. It now offers the fiat rails to enable deposits and withdrawals in USD, EUR or GBP and access to the associated trading pairs, in what it calls “a top request from international customers” [which] has the potential to unlock billions in trading volumes through improved access to large pools of liquidity. ”
- Bithumb has banned its employees from using internal accounts to trade crypto to prevent insider trading. It said it had ordered its executives and employees to withdraw funds from their accounts by the end of June.
- Overseas crypto exchanges that have a customer base in India may be required to pay additional taxes in the form of goods and services taxes (GST), The Economic Times reported, adding that “the indirect tax department is looking into these exchanges to see if they can are required to “pay GST in India as they offer certain” data “services.”
CBDCs news
- Ukraine has given the clearest signal yet that it is on course to issue a digital form of its currency, the hryvnia. In a new law on the use of e-payment platforms, the law passed by the Rada (the Ukrainian parliament) equates a potential central bank digital currency (CBDC) with cash and electronic payment solutions. The legal provisions published by the Central Bank refer to “digital money issued by the National Bank of Ukraine”. The terms add that the above currency is an “electronic form of a unit of account”, the “issue of which is carried out by” the central bank.
Regulatory News
- An unnamed South Korean regulator successfully moved to a new post at Upbit crypto exchange after the regulator’s ethics committee approved her application. As previously reported, an associate director of the Financial Regulatory Service had to ask the panel for its blessing because he feared a potential conflict of interest. The regulator signed the move, according to News1, after ruling that the person in question had not worked directly in the field of crypto policy development.
- South Korea’s top crypto regulator has insisted that all risks related to crypto exchanges must be absorbed by their partner banks, Newsis reported. Banks have previously stated that they don’t want the money to stop with them on anti-money laundering risk assessments. However, the chairman of the Financial Services Commission, Eun Seong-su, insisted that “for the time being” the “main responsibility for money laundering and similar matters lies with the bank”. The ruling could further impair the stock exchanges’ chances of finding banking partners before a deadline of September 24, which is rapidly approaching.
Mining news
- The crypto mining company HIVE claims to have joined the NVIDIA Partner Network Cloud Service Provider program and signed purchase agreements for NVIDIA GPUs with a total order value of more than USD 66 million.
Crime news
- Criminals use exchanges with little to no knowledge of your customer procedures (KYC) to sell fraudulent COVID-19 vaccine certificates in return for BTC, explained blockchain analytics firm Coinfirm. Such an address received $ 40,800 in BTC in less than a year.
- FaZe Clan esports organization fired one member and suspended three others for allegedly knowingly promoting a crypto scam. Team members allegedly took part in promoting a “Save the Kids” charity that has its own token and then dumped their investments through a pump-and-dump program.
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