- Institutions remain active in the crypto space as Fidelity Investments is set to offer trading and custody for Ether, Binance Labs launched a $500m Web-3 Fund and Japanese Exchange SMBC announced the launch of a Security Token Exchange in 2023 and more.
- A bug halted the Solana blockchain for four hours and dropped its price by 11%.
- BTC & Crypto markets continue to range in a tight & sideways channel.
- Global crypto regulation was also active this week as Crypto.com & FTX acquired licenses in Dubai & Japan respectively, Japan passed a bill that defines stablecoins as Digital Money, US Senator Lummis announced that she will present a bill to regulate Cryptocurrencies in the US and the SEC launched an investigation against Binance Coin and more.
Business
Asset Management Titan Fidelity To Offer Ethereum (ETH) Trading and Custody Services: Report - The Daily Hodl
Fidelity Investments is preparing to expand its crypto assets division which caters to institutional investors.
Daily Hodl Staff
Binance Labs Announces $500 Million Fund For Web3 And Blockchain Startups - Ethereum World News
Binance Labs plans to drive crypto adoption and growth in the blockchain industry with its latest $500 million fund.
Naga Avan-Nomayo
Bug Brings Down Solana Blockchain for Four Hours - Decrypt
SOL is down 11% for the day as Solana dealt with another period of downtime, forcing a rollback and restart by validators.
Andrew Hayward
SMBC, SBI backed Osaka Digital Exchange to launch this month. Security tokens next year - Ledger Insights - enterprise blockchain
SBI plans to launch the Osaka Digital Exchange this month with a secondary market for security tokens to follow next year
US energy company opens crypto mining facility in Middle East to use stranded natural gas
The first pilot project will be launched by the end of this year or in early 2023.
David Attlee
MoneyGram to Partner With Stellar to Provide Stablecoin Remittances
MoneyGram is preparing to join forces with Stellar Blockchain to allow clients to send and receive USDC and convert it to fiat.
Dimitar Dzhondzhorov
City of Shenzhen airdrops 30M in free digital yuan to stimulate consumer spending
Winners of the airdrop can spend the e-CNY at more than 15,000 merchant terminals on the Meituan app.
Zhiyuan Sun
Dubai Hotel Does Deal With Binance to Take Payment in Crypto
The Manor Hotel by JA in Dubai will allow guests to pay in cryptocurrencies after joining a payment gateway managed by Binance.
Wahid Pessarlay
Markets
Crypto Charts 69
BTC Another leg lower to $28k is expected before buying. ETH Expect another leg lower before buying or a move up above last week’s high of $2020. Bitcoin Last week we claimed that: ’BTC has continued to trade sideways with a low set at $28k. A break there will signify
Bitcoin Lightning Network capacity crosses 3900 BTC marking a new ATH
The Bitcoin LN was first implemented into the Bitcoin mainnet in 2018 to address Bitcoin’s infamous scalability issues.
Arijit Sarkar
Investors Buy the Dip as Canadian Spot Bitcoin ($BTC) ETF Sees Total AUM Rise
Cryptocurrency investors have been buying the Bitcoin ($BTC) and Ethereum ($ETH) price dip even as cryptoasset prices plunge, as data from Purpose Investments’ cryptocurrency exchange-traded funds (ETFs) shows their assets under management have risen throughout the market downturn.
Francisco Memoria
Regulations
Crypto.com gets nod in Dubai and FTX launches in Japan
Popular crypto exchanges Crypto.com and FTX will each expand to new countries as Crypto.com secures a crypto license in Dubai, and FTX launches its service in Japan.
Jesse Coghlan
Japan Passes Bill That Defines Stablecoins as Digital Money
On Friday, Japan passed a bill that defines stablecoins as digital money. The new law is expected to take effect in a year.
Crypto lobbying hits fever pitch as Bitcoin’s favorite senator finishes bill
The contents of the bill will likely shed light on who holds sway in the ever-expanding universe of crypto lobbying.
Sam Sutton
U.S. SEC Launches Investigation Against Binance Coin (BNB)
Per a Bloomberg report, the U.S. Securities and Exchange Commission launched a probe against Binance’s native token Binance Coin (BNB).
Reynaldo Marquez
Singapore’s Central Bank, DBS, JPMorgan Collaborate to Explore Uses of Digital Assets, Defi – Regulation Bitcoin News
The Monetary Authority of Singapore has partnered with major companies to explore asset tokenization and decentralized finance (defi) uses.
Regulation
CFTC Sues Gemini Over Bitcoin Futures Case From 2017
Gemini partnered with Cboe to try and launch what would have been the nation’s first bitcoin futures contracts.
Nikhilesh De
Crypto Banking Rules Now Due This Year From Basel Committee
The group cited recent turmoil in pushing ahead with its plans, which previously saw opposition from major lenders like JPMorgan Chase.
Jack Schickler
New York Senate passes Bitcoin mining ban bill over environmental concerns
A bill that targets proof-of-work mining was approved by the New York State Senate on June 3 to address some of the environmental concerns.
Jordan Major
Binance Scores Second European Regulatory Approval, This Time in Italy
Italy is the next European location where Binance received a green light to register a cryptocurrency trading platform.
Dimitar Dzhondzhorov
Bank of America CEO: We Have Hundreds of Blockchain Patents — But Regulation Won’t Allow Us to Engage in Crypto – Regulation Bitcoin News
The CEO of Bank of America says that his bank has hundreds of blockchain patents but regulations will not allow it to engage in crypto.
Regulation
Opinions
Former U.S. Treasurer: ‘Cryptocurrency Is One of the Greatest Wealth Disruptors’
At the recent Future Innovation Summit in Dubai, Rosa “Rosie” Gumataotao Rios, 43rd Treasurer of the United States, and a member of Ripple’s Board of Directors, talked about blockchain technology and cryptocurrency.
Siamak Masnavi
Readings / Podcasts
Fed money printer goes into reverse: What does it mean for crypto?
Fed has begun quantitative tightening in which it will cut back on spending and allow bonds to mature and it could be good for Bitcoin.
Brian Newar
