Softbank invests in Bullish, BofA and BTC Futures, Yellen and Stablecoins + other news

Source: Adobe / Tupungato

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.

Investment news

  • SB Northstar, a unit of SoftBank Group, has agreed to invest $ 75 million in Bullish, the sponsor of a not-yet-functioning crypto exchange, Bloomberg reported, citing documents filed July 9 with Securities and Exchange Commission. It will also buy 3 million warrants to buy shares in Far Peak, the SPAC that is bringing Bullish public, which could value the combined company at around $ 9 billion, it added. As reported, SoftBank recently invested USD 200 million in 2TM Group, the parent company of Mercado Bitcoin, a Latin American-focused crypto exchange.
  • Terraform Labs, the South Korean company behind Terra’s Public Blockchain (LUNA), said it has closed a $ 150 million pledge from major investors to fuel the growth and development of projects based on its fast-growing ecosystem of DeFi applications build up. The ecosystem fund is led by investors such as Arrington Capital, BlockTower Capital, Delphi Digital, Galaxy Digital, Hashed, Lightspeed Ventures, Pantera Capital, Parafi Capital and SkyVison Capital.

Bank messages

  • US banking giant Bank of America has approved Bitcoin (BTC) trading futures for some customers, Coindesk reported, citing anonymous sources. Some customers are setting up to trade Bitcoin futures, and one or two may have already gone live, she added.

Regulatory News

  • US Treasury Secretary Janet L. Yellen announced that in addition to the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation, the President’s Working Group on Financial Markets (PWG) will be convened to discuss cross-agency work on stablecoins. The group will meet on Monday 19th July. PWG will examine the current regulation of stablecoins, identify risks and develop recommendations for dealing with these risks. According to the announcement, the PWG expects written recommendations in the coming months.
  • Japan is stepping up diplomatic efforts to regulate digital currencies around the world as the Japanese Financial Services Authority set up a division last week to oversee digital currency regulation while the Treasury Department is considering adding staff to deepen dialogue with its peers, reported Reuters, citing unknown sources.

Hack news

  • The THORChain (RUNE) crypto trading protocol has suffered an attack that stole around 2,500 ETH ($ 4.76 million) from it, the team confirmed. However, they have assured users that they have enough funds in the treasury to cover this loss.

Gaming news

  • Axie Infinity, an Ethereum (ETH) -based monster fighting game, has announced plans to support esports competitions by funding community events and a dedicated server. They have allocated 5,000 of their native AXS tokens (valued at around USD 145,450) from the Play-to-Earn allocation pool as prize money for this year’s community tournaments.

Exchange messages

  • Ricardo Da Ros, director of the Brazilian branch of the crypto asset platform Binance, has resigned after six months. He said that he made the decision based on his personal values ​​and pointed to different expectations of his role.

Blockchain news

  • Cardano (ADA) has announced that they have successfully upgraded Testnet from the previous version called Alonzo Blue to the new Alonzo White.

(Updated at 16:39 UTC with announcements from Terra and the Treasury Department.)

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