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Crypto Flipsider News – August 10th – Circle Bank, Poloniex, Binance and Coinbase CEOs, AMC, Indian Unicorn

Circle Aims To Become National Cryptocurrency Bank

Circle, the US crypto payment firm and USDC issuer, aims to become a full-reserve national commercial bank built on cryptocurrency technology. CEO Jeremy Allaire says this could “lead to a radically more efficient, safer, more resilient financial system”.

Circle is prepared to operate under the supervision and requirements of the Federal Reserve, US Treasury, OCC and FDIC, he added.

Circle is backed by Goldman Sachs and plans to go public on the New York Stock Exchange (NYSE).

There are more than $27.5 billion worth of USDC in circulation.

Poloniex To Pay $10 Million Settlement to the SEC

Poloniex LLC agreed to pay over $10 million to the SEC. Poloniex LLC was charged for operating an unregistered online digital asset exchange from July 2017 to November 2019.

The popular crypto exchange violated the Exchange Act. The SEC also noted that Poloniex was trading unregistered securities during that time.

Executives Leave Crypto Exchanges: Coinbase, BinanceUS, PancakeSwap

Popcorn, Cola, and Bitcoin: AMC Cinemas to Accept Crypto

The largest movie theatre chain in the world, AMC Entertainment, announced that the company will have ready infrastructure to start accepting Bitcoin by the end of the year. In a conference call, the chairman and CEO Adam Aron confirmed this alongside payment options such as Apple Pay and Google Pay.

For now, the feature will be available only for the American market. However, as Aron revealed plans to open dozens of cinemas in the USA, Europe, and the Middle East, there is a possibility for the innovation to spread its frontiers.

Unicorns Are Born in India as Well: CoinDCX to Be the First

The biggest Indian crypto exchange became the first crypto unicorn in the country. CoinDCX, a Mumbai-based company, raised $90 million in the Series C round. CoinDCX was launched in 2018. Now, it has 3.5 million users. Sumit Gupta, co-founder and CEO, hopes to reach a customer base of 50 million in the future.

Source: DailyCoin


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