Presenting the ten biggest stories in the cryptocurrency industry this past week.
Mastercard CEO Michael Miebach says the firm must enter Crypto Space
In its most recent earnings call held on Thursday, Mastercard CEO Michael Miebach stressed that the company needs to enter the crypto space.
“What we believe we do is bring a perspective to the market as a multrail payment provider,” Miebach said.
He emphasized that the reason behind the firm’s motive for entering the crypto space is to offer solutions to the existing bottlenecks. Read more
Ukraine Central Bank gets approval to issue CBDC
This was confirmed after President Volodymyr Zelenskyy signed the “Payment Services” bill into law.
The bill will upgrade the current payment services market and usher in a much-needed transformation to the country’s financial sector.
The National Bank of Ukraine is expected to issue the CBDC and create a regulatory “sandbox” that will feature testing services, technologies, tools in the payment market. Read more
Hedge Fund Manager GoldenTree adds Bitcoin to its balance sheet
Global Asset Management firm GoldenTree is diversifying from its credit-themed strategies by adding Bitcoin to its balance sheet.
Founder and chief investment officer Steve Tananbaum has reportedly been strengthening the firm’s position in bitcoin holdings for years.
Founded in 2000, GoldenTree has maintained a near-perfect reputation becoming one of the biggest and most successful players in the industry over the last two decades. Read More
Robinhood shares dip amidst IPO snub
Robinhood stock plunged by over 10% after its initial public offering didn’t go as planned.
The brokerage and exchange platform reserved 20-35% of the available shares for its users before it was offered to the general public. Read more
New study shows global Crypto population exceeded 200M in June
The research carried out by mainstream exchange firm Crypto.com shows that the number of cryptocurrency owners hit 221 million in June – representing a significant jump from the 100 million recorded in January.
Crypto.com combines on-chain data (for Bitcoin and Ethereum) with blended parameters that feature non-BTC/ETH owners and non-exchange users to derive results. Read more
US lawmakers aim to generate $28M from crypto taxes
The scheme aims to introduce more stringent regulations on crypto exchanges, compelling them to document digital assets transactions and report crypto dealings exceeding $10,000 to the Internal Revenue Service.
Lawmakers made swift changes to the US bipartisan infrastructure deal to include crypto taxes on July 28.
The projected tax that will be generated from cryptocurrency taxation will make up 5.6% of the proposed $500 billion investment into the transportation and power sectors. Read more
Digital Sample of Steve Jobs’ application sells for $23,000 on Rarible
A non-fungible token (NFT) of a unique job application filled by late Apple co-founder Steve Jobs was sold for $23,000 at a Rarible auction earlier this week.
Two samples of the job application which was paid for in Ethereum sold for a combined $366,000. Read more
Paypal CEO Dan Schulman says Crypto Wallet App is “code complete”
Paypal has confirmed that the wait for the proposed supplementary crypto features it intends to add to its application may not be as tedious as we expected.
CEO of the payment solution platform, Dan Schulman claims that its crypto wallet is already “code complete” and could be available to customers in the USA in the coming months. Read more
Ripple partners with SBI Remit to launch ODL offering in Japan
Blockchain-based digital payment network Ripple has partnered with SBI Remit Co., to launch On-Border Liquidity (ODL) payment services between Japan and the Philippines.
Remittances from Japan to the Philippines are charged at 10.59 percent, which is almost double of what customers in other G8 countries pay in remittance charges (5.92 percent). Meaning that customers pay $180 million in service charge annually. Read more
Binance CEO says the exchange firm wants to become a regulated financial institution
Binance CEO Changpeng Zhao says the crypto exchange will employ a different approach to solve impending regulatory issues.
Zhao hinted that Binance would increase its compliance team by the end of 2021 and establish regional headquarters across the globe to aid its operations. Read more