Technology
Blockchain lacks meaningful use cases, tech journalists tell UK lawmakers
Blockchain technology provides security for things that don’t need securing and are not a problem, according to David Gerard.
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Investments
Saylor’s faith in Bitcoin unshaken as MicroStrategy buys another 480 BTC
MicroStrategy has added 480 BTC to its coffers despite the bear market, the company announced on June 29.
Stablecoins
Circle inks custody deal with New York Community Bancorp
This partnership will see New York Community Bank become a custodian of Circle’s USDC stablecoin.
Lending
BlockFi wins money services license in Iowa
The money services license will enable BlockFi to offer Iowa residents stablecoin trading services and instant fund transfers.
NFTs
Bentley Motors gears up to drop its Genesis NFT collection on Polygon
Bentley believes NFTs can help transform the luxury automotive space just like they disrupted the art industry.
Exchanges
Coinbase to launch Advanced Trade as a replacement for Coinbase Pro
Coinbase is actively integrating features into Advanced Trade as it prepares to phase out Coinbase Pro later this year.
Mining
US Senators call on OSTP to restrict PoW mining to zero-carbon energy sources
Five U.S. Senators are proposing to create a national registry for PoW mining companies and mandating them to provide regular disclosures about their energy sources and carbon emissions.
Partnerships
BlockFi gets $250 million credit facility from FTX to support platform
BlockFi intends to use the proceeds of the $250 million credit facility to bolster its balance sheet and platform strength.
Analysis
Bitcoin Suisse Director says crypto market is forming a bottom
The crypto market is close to a point where some of the real excess leverage has been driven out of the system, and a bottom can begin to form, according to Bitcoin Suisse Director Giles Keating.
Rumors
BlockFi liquidates major counterparty after it fails to meet margin call
BlockFi CEO revealed that the company liquidated a major counterparty after it failed to meet a margin call on its overcollateralized loan.
CBDCs
Israel, Hong Kong enter partnership to test new CBDC against cyber risks
The exposure-free retail CBDC the Bank of Israel and the Hong Kong Monetary Authority plan to test is assumed to carry less financial risk for consumers, Bloomberg News reported.
Interview
Avenue Capital CEO expects crypto selloff to continue till year end
BTC is yet to bottom out, and investors should expect more selling and pain between now and the end of the year, Avenue Capital CEO Marc Lasry says.
Lending
MicroStrategy denies receiving a margin call against $205M BTC-backed loan
MicroStrategy claims it holds a significant amount of unpledged BTC, which it can use to maintain the required loan-to-value ratio.
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