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Crypto Flipsider News – July 21st

Circle’s Newest Acquisitions: Partnership with Mastercard and the Source of USDC’s Backing Revealed

One of many greatest and oldest crypto firms, Circle, launched a double bout of reports at the moment. To start with, they’ve partnered with Mastercard for ease of crypto funds by way of common credit score/debit playing cards. As Circle is the issuer of the stablecoin USDC, Mastercard will use it as a bridge for many who wish to pay in crypto. 

Furthermore, they revealed the sources backing their foreign money. As was to be anticipated, the sources range, however the truth is that they cowl 100% of the overall provide. 

The European Union Has Referred to as for Restrictions on Nameless Crypto Wallets

The European Fee (EC) has positioned stricter laws on nameless cryptocurrency transfers. The chief department of the European Union, the EC, confirmed a proposal which mandates all crypto service suppliers to make sure full traceability of cryptocurrency transactions, together with the names of digital asset pockets homeowners.

The tighter laws are anticipated to assist fight counterfeit cash laundering and terrorism financing.

The plan additionally features a proposal to create a brand new EU authority, the AMLA, to oversee the riskiest monetary establishments and combat cash laundering, which nonetheless is a big downside worldwide.

The Crypto Unicorn Herd Runs: The FTX Change and OpenSea

The crypto world reached a brand new excessive at the moment. Although it’s not a brand new file in whole crypto capitalization, the occasion nonetheless requires champagne. That is at the least the case for Sam Bankman-Fried, whose crypto trade FTX, had the largest funding spherical in crypto historical past. The trade attracted greater than 60 traders, together with Sequoia and Paradigm. The entire influx amounted to $900 million, and on the time of writing, the trade is valued at $18 billion.  

OpenSea became the latest crypto unicorn after elevating $100 million in a spherical of funding. On the similar time, the corporate introduced its assist of the Polygon blockchain, which made charges for trades on OpenSea free-of-charge. 

Whales noticed once more: Cathie Woods and Rothschild Funding Corp purchase the dip

On this time of Bitcoin worth correction, institutional traders have as soon as once more elevated their crypto portfolios. 

  • Cathie Wooden’s ARK Make investments purchased one other 310,000 shares into Grayscale Bitcoin Belief (GBTC) on Tuesday, when Bitcoin dropped barely under $30k. The acquisition is price almost $8 million. Previous to the acquisition, ARK Make investments already held over 8.8 million GBTC shares, which accounted for 0.5% of the corporate’s whole portfolio.
  • Wealth administration agency Rothschild Funding Corp additionally elevated its crypto involvement through the current dip. The corporate now holds 141,405 Grayscale Bitcoin Belief shares, which is over 3 instances greater than it held in April. Rothschild Funding Corp bought over 265,000 shares in Grayscale’s Ethereum Belief earlier this 12 months.

NFT information: The Sacramento Kings & Toronto Raptors Have Launched NFT Collections. Sushi Offers away “LSD” NFT. Rolex NFT

Source: DailyCoin

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