Crypto News Highlights #1 😈
Crypto News Highlights #1 😈
Welcome to Edition #1 by the HODL Team – Your daily digest for breaking news, insights, and trends in Crypto!
Coinbase has responded firmly to the SEC's Wells notice, challenging the proposed charges and fighting for its survival and the future of the US crypto industry. The company's defense includes a point-by-point rebuttal of the Howey test's applicability to its staking service.
🚀 Pepecoin Defies Expectations: PEPE Nears $1B Valuation
Pepecoin (PEPE) has surged to an almost $1 billion market cap just weeks after its launch, growing 500% in the past two weeks. Despite warnings of an impending collapse and booming short interest, PEPE has continued to soar, causing short sellers to lose millions.
🔗 Robinhood Launches DeFi Connectivity
Robinhood introduces Robinhood Connect, a feature that allows users to access their native crypto wallets directly from decentralized finance (DeFi) protocols and applications without opening the Robinhood app. This update brings more flexibility and seamless DeFi access for Robinhood users.
🌐 JPMorgan Embraces Tokenization
Onyx by J.P. Morgan continues to lead blockchain innovation with its Onyx Digital Assets platform, which recently completed a landmark transaction using tokenized assets as collateral. The Tokenized Collateral Network (TCN) application has the potential to revolutionize collateral markets by providing near-instantaneous real-time change of ownership.
🔍 FBI Searches Ex-FTX Exec's Home
The FBI has reportedly searched the home of former FTX co-CEO Ryan Salame amid increased scrutiny over his advisory role to Sam Bankman-Fried. The exact reasons for the search remain unclear.
🏦 Hong Kong Encourages Banks to Support Crypto Firms
The Hong Kong Monetary Authority has urged banks to provide services to licensed virtual-asset firms, fostering the city's development as a crypto hub and contrasting the US's crackdown on the digital-asset sector.
⚖️ Grayscale Awaits ETF Conversion Decision
Grayscale CEO Michael Sonnenshein anticipates a decision by the end of Q3 2023 on whether the Grayscale Bitcoin Trust (GBTC) can be converted into an ETF. The conversion could help Grayscale eliminate GBTC's infamous discount.
🌐 Franklin Templeton Expands On-Chain US Govt Money Fund to Polygon
Investment management giant Franklin Templeton has expanded its OnChain U.S. Government Money Fund to the Polygon blockchain, enabling the fund to be more compatible with the digital ecosystem.
🔍 CFTC in talks with Binance after launching legal action
The Commodity Futures Trading Commission (CFTC) is in conversations with Binance to address concerns about the company's conduct. The CFTC sued Binance, its CEO Changpeng Zhao, and its former chief compliance officer, alleging that the platform solicited users in the U.S. to trade derivatives without proper authorization.
⚖️ Binance US ends $1B Voyager deal
Binance.US terminated an agreement to purchase the bankrupt crypto broker Voyager Digital Holdings Ltd., after federal regulators dropped their efforts to halt the deal in court. Binance.US cited a hostile and uncertain regulatory climate in the United States as the reason for ending the agreement.
📜 House FSC unveils stablecoin bill draft
The U.S. House Financial Services Committee published a draft version of a potential landmark stablecoin bill, with proposals including a moratorium on stablecoins backed by other cryptocurrencies and a request to study a central bank digital currency (CBDC).
💸 Arbitrum airdrops $120M in ARB tokens to DAOs
Arbitrum (ARB), a Layer-2 scaling solution for Ethereum (ETH), airdropped 113 million tokens, valued at nearly $120 million, to reward 131 Decentralized Autonomous Organizations (DAOs) for their early projects built on the Arbitrum (ARB) network. Despite initial concerns about price retracement, on-chain data shows that none of the top 50 recipients have sold their tokens at the time of writing.
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