“A new law in Germany that could theoretically prompt up to $415 billion to flow into crypto takes effect Thursday.The law allows “special funds” to invest up to 20% of their assets in crypto.Spezialfonds are the dominant institutional investment vehicle in Germany.A sizable allocation of this market toward crypto could have profound implications across Europe, because the country has the eurozone’s largest economy.” See Also: Soros Fund Management Is Said to Be Trading Bitcoin: Report See Also: BaFin-Licensed DeFi Firm Swarm Starts Onboarding $15M of Pledged Liquidity “Strike is letting its U.S.customers buy and sell bitcoin for almost zero in fees, sending shots across the bows of Coinbase, Square’s Cash App, PayPal and other incumbents.The Chicago-based startup, best known for helping El Salvador adopt bitcoin, said Thursday it would charge only around 0.3% for brokering BTC trades in the 48 states and other U.S.jurisdictions where Strike operates.
By comparison, Coinbase, which went public on the Nasdaq this year, collects as much as 3.99%, depending on the payment method and transaction size.Acquiring open-source money should be free.It is a race to zero.
If widely adopted, Strike’s new service stands to drive down the price of bitcoin trades for retail investors in the U.S.market.
The service will start with a wait list, and open to the public in the coming weeks.” “ETH 2.0 now has 10x more staked Ether to power its proof-of-stake mechanism than the Ethereum Foundation required at launch six months ago.The Ethereum Launchpad, Ethereum 2.0’s portal for validators to stake their coins, shows some 5.9 million staked Ether and almost 180,000 validators powering the blockchain Wednesday.Traders and investors are bullish for Ether as they anxiously await the London hard fork scheduled for July.” “Binance said it is using crypto intelligence firm CipherTrace’s “Traveler” product to help it comply with global “travel rule” regulations.CipherTrace released the tool in March to help tackle hacks and fraud by scanning addresses associated with incoming crypto transactions.
The Financial Crimes Enforcement Network and Financial Action Task Force’s “travel rule” regulations require virtual asset service providers to exchange identifying information when conducting transactions.” See Also: FATF Report on Extreme Right Financing Highlights Cryptocurrency Use “Some traders, analysts and economists have speculated that financial losses at Tether or even a crisis of confidence might trigger a sell-off that could put downward pressure on prices for other cryptocurrencies.The Fitch report suggests the turmoil also could also have implications for traditional markets.
A sudden mass redemption of USDT could affect the stability of short-term credit markets if it occurred during a period of wider selling pressure in the CP market.These figures suggest its CP holdings may be larger than those of most prime money market funds in the U.S.There’s less risk associated with coins that are fully backed by “safe, highly liquid assets,” according to the rating service.Stablecoins that use fractional reserves may run a greater risk.” See Also: Stablecoin insurance firm Bridge Mutual to protect against possible Tether depegging See Also: 1inch to launch dollar-pegged stablecoin with ICHI “Russia’s central bank named 12 banks that will be involved in the initial testing of the nation’s future central bank digital currency (CBDC), the digital ruble.Previously, the Bank of Russia said it was planning to develop a prototype of the digital ruble by December and start piloting it next year.It’s not clear yet if the project will be built on a blockchain, and, if so, on which one.” See Also: Spain Considers Implementing a Digital Euro See Also: Ukraine Puts CBDC On Par With Cash in New Payments Law “Speaking during the CNBC Financial Advisor Summit on June 29, Senator Lummis stated she would like to see Bitcoin and other crypto-assets become a normal part of diversified asset allocations used for retirement funds in order to protect them from inflation.
I’d also like to see individuals be able to use Bitcoin and cryptocurrencies of their preference that are safe, that have met the hurdles of anti-money laundering and Bank Secrecy Act.
While U.S.citizens have been able to include crypto assets in their retirement portfolios since the Internal Revenue Service first issued guidance on the sector in 2014, the practice of hodling digital assets in one’s retirement plan has remained a niche practice.” “The social media platform shared a series of tweets featuring a number of different images with the Twitter logo and a Tamagotchi virtual pet.In March, CEO Jack Dorsey called attention to a tokenized version of his first tweet on the NFT platform Valuables; it sold for $2.9 million.” See Also: 3 reasons why analysts are turning bullish on Curve Finance (CRV) .
