Get your everyday, bite-sized digest of cryptoasset and blockchain-related news — exploring the stories flying beneath the radar.
Investments news
The business said they sold BTC this past April because ”younger people wouldn’t be spending much time trading today that the lockdowns are end.”
- Solana (SOL) is reportedly raising USD 300m – USD 450m to scale their development. Feb Decrypt’s unnamed sources, Solana was going to get a smaller round that should have closed in March, but decided to expand the scope in response to high demand.
- Olympia Trust Company said it’s given up on their aim to offer a BTC custody platform that was designed by custodian KNØX Industries. As a reason for the conclusion, the company cites”internal threat appetite due to current market conditions.”
- Fiserv, a supplier of payments and fiscal services technology solutions, said it will enable its customers to share data in their cryptoasset holdings with their fintech programs and service providers,”enhancing consumers’ financial control and management as cryptoasset investment reaches the mainstream” This new capability will be permitted through the integration of AllData® Aggregation from Fiserv with Verady, a supplier of cryptoasset tax, accounting, and audit technology goods and integrations.
- ForUsAll, a retirement investment system for small enterprises, announced the introduction of the Alt 401(k), its retirement investment system that allows employers to give alternative investment options within 401(k) plans. The business is enabling employers to offer cryptocurrency as the plan’s first choice investment by choosing Coinbase Institutional, they said.
- The Basel Committee, the global standard-setter for the prudential regulation of banks, said it agreed to hold a public consultation to seek the views of external stakeholders on the design of prudential treatment of banks’ exposures to cryptoassets. Also, they aim to publish an earlier discussion paper on the subject this week.
Exchanges news
- Bitfinex and Hodl Hodl have declared that Bitfinex will invest in the peer-to-peer BTC trading and lending platform. “Bitfinex intends to further the adoption of real use cases for bitcoin, such as exploring integrations with Hodl Hodl services,” the market said, without providing any details about the offer.
- In May, overall crypto derivatives trading volume rose by 40 percent, to USD 5.5trn, as investors reacted to greater volatility, per CryptoCompare data. The top 3 exchanges, Binance, OKEx, and Bybit, watched monthly trading volumes of USD 2.5trn (up 49 percent ), USD 999bn (up 51 percent ) and USD 574bn (up 24%), respectively, the data supplier said, adding that the derivatives market currently represents 53% of their total crypto market (versus 50% in April).
- Bitfinex said they’ve added SOL as collateral on Bitfinex Borrow, a peer-to-peer digital token loan gateway. Bitfinex clients are going to be able to get loans of around 70% of the worth of their SOL holdings in USD and tether (USDT).
Politics news
- Speaking to Fox, former US President Donald Trump said that ”the currency of the world should be the dollar,”while BTC” takes the edge off of the dollar and the importance of the dollar” and BTC ”only seems like a scam,” the Washington Examiner documented.
Mining news
- An open-source, solar-powered Bitcoin mining centre is opening in the united states, thanks to a partnership between electronic asset infrastructure supplier Blockstream and electronic payments company Square. The job will also possess a publicly available dashboard that will show real-time metrics of its performance, as BTC mined and energy spent.
- Major BTC mining hardware maker Canaan said it’s established its first overseas after-sales service center in Kazakhstan. The Service Center will offer the organization’s local clients with after-sales services, such as machine testing, warranty services, machine maintenance, and specialized consultations, they said in an emailed statement.
Legislation news
- Texas Governor Greg Abbott said he has signed a law that will help expand the blockchain business in this state.
- Square is considering creating its own hardware wallet for BTC, the company’s CEO Jack Dorsey explained. Should they go ahead with the idea, the job is going to be constructed in cooperation with the community, he added.
CBDCs news
- The Group of Seven (G7) said they ”will work towards common principles” of issuing a central bank electronic currency (CBDC) and also ”publish decisions later in the year” Also, in a communiqué, G7 finance ministers and central bank governors reiterated ”that no global stablecoin [e.g. Facebook’s Diem] job should begin operation until it covers relevant regulatory, legal, and oversight requirements through appropriate design and from adhering to applicable criteria”
