Bitwise Bitcoin ETF to absorb $120M Osprey Bitcoin Trust

Global payment processing giant PayPal announced its United States dollar-pegged payment stablecoin called PayPal USD (PYUSD) on Aug. 7. The stablecoin is developed on Ethereum (ERC-20) and will be issued by Paxos Trust Co. PYUSD is reportedly fully backed by U.S. dollar deposits, short-term Treasurys and similar cash equivalents.PayPal said that the launch showcases the company’s…

The United States Federal Reserve began its most aggressive quantitative tightening efforts in March 2022, raising benchmark interest rates in the year since from near-zero to 4.75% to 5% annually. While the central bank has successfully brought down inflation to some degree, the increasing interest rates are starting to cause cracks in the global banking…

The Guangzhou government has announced a $140 million subsidy fund to encourage the development of blockchain initiatives.The local authorities are reportedly planning to spend 1 billion yuan ($141 million) to selectively sponsor two blockchain-related projects per year, according to a tweet of a senior exec at crypto investment holding firm Primitive Ventures.“No-coin” public chainsCiting a…

The regulators are closing in. It’s one thing to unbundle market functions to their parts ― custody, aggregators and Prime Brokerage ― to satisfy institutional compliance departments. It’s another to keep regulators happy.From the Financial Action Task Force pushing forward with its guidance for Travel Rule compliance to the still-evolving European Markets in Crypto-Assets regulatory…

In late November, two Canadian metaverse ETFs started trading on the Toronto Stock Exchange on the same day. 487 Total views 32 Total shares ProShares, the first company in the United States to launch a Bitcoin (BTC) exchange-traded fund (ETF), is diving into metaverse as it now plans to launch a new metaverse-focused ETF.ProShares on…

Ready Games’ software development kit is touted to help improve Web3 gaming accessibility and user experience. 485 Total views 15 Total shares dApp Store Kit, which was initially incubated by Polygon Labs, will integrate Ready Games’ mobile game development toolkit to help developers roll out Web3 games. dApp Store Kit’s toolkit for deploying EVM-compatible DApp…

“Establishing clear regulatory expectations will be paramount to give this market an opportunity to grow and mature in a responsible manner,” said Jelena McWilliams. 339 Total views 9 Total shares Jelena McWilliams, the chairperson of the Federal Deposit Insurance Corporation, or FDIC, has said the agency is working with other regulators in the United States…

It has been over a year since Australian computer scientist Craig Wright proclaimed himself as the inventor of Bitcoin (BTC), and the estate of his late business partner, Dave Kleiman, became clinched in litigation over the fruits of the duo’s collaboration in the inaugural years of the cryptocurrency era. The stakes include billions worth of Bitcoin…

Bitcoin (BTC) begins another week below $40,000 but with two major new landmarks under its belt.After falling over continued FUD from China over the weekend, Bitcoin adoption has also seen an unexpected first — from El Salvador and Paraguay.With the world potentially about to greet its first two “Bitcoin nations” in history, there’s plenty to…