More companies adopting Blockchain and start-ups raising funds in millions. Bitcoin price is touching sky. Find out what companies are investing in and their business plans.
Bitcoin
- Binance is making it harder to trade Bitcoin anonymously amid regulatory troubles. Its daily withdrawal limit is decreasing for users who haven’t supplied ID or photos.
- Bitcoin struggles at $40K after ‘most confusing’ Jerome Powell press conference.
- Asset management firm GoldenTree is reportedly buying bitcoin.
- Bitcoin miners earned $971 million in revenue during July. The monthly total was $971.83 million, including transaction fees, per The Block’s Data Dashboard. Transaction fees — or the funds paid by users as they use the bitcoin network — came in at $27.59 million.
- Bitcoin has crossed $42,000 overnight with it currently trading at $41,500 in a jump from $38,000 the previous day.
Blockchain
- Tether has been facing a lot of pressure from regulatory authorities. Now, the attention of the watchdogs has shifted to its commercial paper reserve.
- The future of DeFi is spread across multiple blockchains. As the decentralized space is growing at lightning speed, projects need to adapt to the multichain future or risk becoming irrelevant.
Crypto
- Dash launches retail consumer app for shopping in stores across America. The app allows consumers to pay with Dash at over 155,000 in-store locations and 125 online retailers across the United States.
- Crypto Cashback App Eco raises another $60M. Eco boosts its funding total to $95 million and is “closely watching” the regulatory issues facing BlockFi, which uses a similar business model.
- Huobi exchange wind down the firm in China. Winding down does not affect crypto trading on the platform.
- Chamath Palihapitiya’s Social Capital invests in Solana-Based Saber Protocol. The Solana-based cross-chain stablecoin exchange has secured $7.7 million from industry investors including Chamath Palihapitiya’s Social Capital.
- Binance has launched a new tax reporting tool on its trading platform. The tool let users transfer their transaction history to third-party crypto taxation services.
- Robinhood Crypto is developing a slew of new products. Robinhood’s crypto unit also held “exploratory” talks with Uniswap.
- Buterin’s $1B SHIB donation tricky to cash out, says fund manager.
- Vauld’s Crypto startup just received around $25 million from an investment. This fund was granted by the Valar Ventures Foundation, which businessman Peter Thiel supports. Coinbase Ventures, Pantera Capital, Cadenza Capital, Robert Leshner, Gumi Cryptos, and CMT Digital support the initiative.
- The total number of crypto users has doubled during the first six months of 2021, mainly due to institutional adoption and the fever for memecoins like DOGE and SHIB.
- Robinhood, the fee-free cryptocurrency, stock, and options exchange, raised almost $2 billion in its initial public offering, reaching a valuation of $32 billion.
- Binance completes Polygon wallet integration. The company indicated that transactions should now be cheaper than utilizing the traditional Polygon-Ethereum bridge.
- Malaysia takes enforcement actions against Binance, advises investors to withdraw all investments immediately.
- Binance is shutting down its crypto futures and derivatives trading in three European countries.
- Central Bank of China to continue crypto crackdown in the second half of 2021. In a conference yesterday, a consensus was reached to “maintain” high pressure on digital currency trading in China.
- India to investigating global crypto exchange Binance. The investigation is due to Binance continuing regulatory trouble. The case made more than $134 million.
- PayPal assembling crypto team in Ireland as Bitcoin adoption grows. The new hires will help PayPal expand its crypto-focused business offering at a time of rapid adoption of Bitcoin and Ether.
NFT
- Gary Vaynerchuk just paid $3.7 Million in Ethereum for a CryptoPunk NFT. It’s the fourth-highest price ever paid for a CryptoPunk.
- A rare CryptoPunk is being listed for $90.5 million as NFT mania takes flight
Others
- Valora, a mobile wallet built for use on the Celo network, has received backing from the likes of Andreessen Horowitz and other investors to the tune of $20 million.
- Blockfolio rides off into the sunset, but it’s a new dawn for FTX App. FTX indicated that although the Blockfolio brand is being retired, this would not affect the services offered to users.
- Okcoin secures regulatory approval in Malta and the Netherlands. CEO Hong Fang said Okcoin was focused on Europe as part of the firm’s global growth plans.
- SEC Chair warns of risk of investing in US-Listed Chinese companies. Questionable ownership structures and state secrets of US-listed Chinese companies at center of SEC decision to halt new listings without disclosures.
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Credit: Telegram VYSYN – Capital News
