Digital Assets Report 77
- Bank for International Settlements Warms Up to Bitcoin & Crypto With More Flexible Proposal.
- EU Agrees on Landmark Crypto Authorization Law, MiCA
- Three Arrows Capital (3AC), the $10 Billion fund, placed in liquidation last week, has been reprimanded by the Monetary Authority of Singapore (MAS) for providing inaccurate information regarding the number of assets it owned.
- Voyager Digital Suspends Trading, Deposits and Withdrawals.
- BlockFi deal with FTX for a $400-million. FTX US will have the ability to purchase BlockFi outright for up to $240 million. BlockFi’s valuation last year was roughly $5 billion.
- Grayscale Sues SEC Over Bitcoin ETF Application Rejection.
- First Spot Bitcoin ETF approved to launch in Europe in July.
- NFT marketplace OpenSea issued a warning to users last Thursday that a list of customers’ emails had been leaked to an outside party.
- Argentina Take Refuge in Stablecoins After Economy Minister Resignation
Business
Bank for International Settlements to allow banks to keep 1% of reserves in Bitcoin
Despite its skeptical approach, the Bank for International Settlements aims to allow banks to hold up to 1% of reserves in cryptocurrencies.
Crypto hedge fund Three Arrows files for Chapter 15 bankruptcy
Crypto hedge fund Three Arrows Capital is one of the biggest casualties of the so-called “crypto winter” to date
Voyager Suspends Trading, Deposits and Withdrawals
CNBC’s Leslie Picker reports on news around cryptocurrency firm Voyager.
Vauld halts withdrawals and hires legal and financial advisors
Vauld, a Singapore-based crypto trading and lending platform with most of its team in India, has suspended withdrawals.
Grayscale Sues SEC Over Bitcoin ETF Application Rejection
The SEC rejected Grayscale’s application to convert its Grayscale Bitcoin Trust to an exchange-traded fund earlier Wednesday.
Argentines Take Refuge in Stablecoins After Economy Minister Resignation
Major crypto exchanges reported that consumers purchased up to three times as many stablecoins over the weekend as they usually do amid a brewing economic crisis.
Markets
- Weekly moving average number of unique BTC addresses now at a loss reached a new all-time high of 18.8 million on July 3.
- Number of wallets holding over $1 million worth of Bitcoin has decreased by roughly 80,000, from 108,886 on Nov. 12 to a mere 26,284 as of June 30. That represents a 75% plunge within nine months.
“Bitcoin and Ethereum have both traded below their previous cycle ATHs which is a first in history.”
‘Wild ride’ lower for BTC? 5 things to know in Bitcoin this week
BTC price action lingers at $19,000 as Bitcoin market triggers line up for the week ahead.
Regulations
New spot Bitcoin ETF launches at Euronext Amsterdam Exchange
Euronext Amsterdam stock exchange, a part of the pan-European marketplace Euronext, will start trading the Jacobi Bitcoin ETF in July.
Crypto World Is Cautious of Finer Details In EU’s MiCA Law
Web3 advocates are cautiously welcoming Europe’s new law, but must first resolve its paradoxes – like when is a non-fungible token fungible?
Experts weigh in on European Union’s MiCa crypto regulation
Seth Hertlein, the Global Head of Policy at Ledger, noted that the EU missed an opportunity to regain market share lost in Web2.
Crypto assets and profits: what rules apply?
An overview for private investors
Opinions
Why This Crypto Crash Is Different
There can be no return to the highly leveraged, fractionally reserved cryptocurrency system whose illusory riches are now giving way to real losses, says our columnist.
Podcasts / readings
Are Blockchains Truly Decentralized?
Software security research company Trail of Bits CEO Dan Guido discusses a recent study his firm conducted for the Defense Advanced Research Projects Agency (DARPA). The report investigates the unintended centralities in blockchains. Guido points out that countries have ability to compromise validat…