Earlier, a report from London’s City AM newspaper, citing an unnamed “insider,” reported that Amazon might be looking to explore bitcoin payments, which sent the world’s biggest cryptocurrency up as much as 14.5 percent before it trimmed gains to last trade 6 percent higher at $37,000. Bitcoin had briefly reached above $40,000 on Monday after the news broke. Elon Musk had also revealed that SpaceX also owns bitcoin.
The asset-management arm of the global investment banking giant Goldman Sachs has filed for a new crypto ETF based on securities of crypto-related companies and Defi protocols. The new ETF will be called Innovate Defi and Blockchain Equity ETF. As per the SEC filing on Monday, the firm would invest at least 80% of its assets exclusive of the collateral held from securities lending.
Investments in institutional Bitcoin products have continued to decline this past week.
In its July 26 Digital Asset Fund Flows report, CoinShares notes institutional crypto products have experienced outflows for the third consecutive week, with $28 million exiting the sector during the week ending July 23. As such, the week saw a 170% increase in outflows compared to the $10.4 million for the previous seven days.
IT software provider, Kaseya, has announced it is providing its clients with a decryption tool to recover customer data that was locked in a ransomware attack earlier this month.
The NBA’s Chicago Bulls have launched NFTs depicting six championship wins from the 1990s via leading e-commerce platform Shopify.
Shopify is a multinational firm that provides website-based storefronts and payments infrastructure. Shopify president, Harley Finklestein, announced the NFT drop on Twitter earlier today.
The crypto market has gained a significant amount of traction in Singapore, especially among younger investors. The major catalyst for confidence in cryptocurrencies, in Singapore, has been the transparency regarding local regulation and taxation issues. It’s no surprise that several cryptocurrency exchange platforms either desire to or have already based their operations in this region.
Coinbase is under fire again. This time the notable cryptocurrency exchange is facing a lawsuit over a NASDAQ listing. Specifically, the lawsuit pertains to the direct offering made by the company in April 2021.
The International Monetary Fund (IMF) issued a warning against El Salvador’s Bitcoin law.
According to IMF officials, making any crypto a legal tender “is an inadvisable shortcut” to more inclusive financial services.
Major Japanese internet company Yahoo! Japan has partnered with messaging giant Line to launch nonfungible token (NFT) trading.
Line officially announced Tuesday that its cryptocurrency-focused subsidiary LVC Corporation would collaborate with Yahoo! Japan to enable secondary trading of NFTs issued on Line’s proprietary blockchain.
Reddit has announced that their community coins Moons and Bricks will be migrated to the Layer 2 solution Arbitrum for enhanced scalability.