NewsBriefs - Justin Sun elected as prime minister of Liberland

Oct 10, 2:56 PM The Block

Justin Sun elected as prime minister of Liberland

Justin Sun, Tron founder, was elected prime minister of Liberland, a crypto-focused micronation between Croatia and Serbia. Liberland, established in 2015, was the first country to adopt Bitcoin as its official currency. The election used a blockchain-based system, promoting transparency. Sun's crypto expertise is expected to advance Liberland's blockchain projects. The micronation operates on a decentralized online platform, allowing resident participation in governance.

Latest

• Jul 2, 12:16 AM Bloomberg

  Binance maintains Singapore-based staff amid new crypto regulations

  Despite stringent regulations by the Monetary Authority of Singapore requiring unlicensed crypto operators to cease activities by June 30, Binance plans to keep its hundreds of remote workers in Singapore. The new regulations are said to have minimal impact on Binance's operations in the region as these employees mainly engage in non-client-facing roles such as compliance and technology. Binance has emphasized a remote-first working strategy and does not solicit customers in Singapore, aligning with the local regulatory frameworks.

  Expand Hide

  

• Jul 1, 1:02 PM Cointelegraph

  Paxos launches MiCA-compliant Global Dollar stablecoin in the EU

  Paxos has launched its Global Dollar (USDG) stablecoin in the European Union, ensuring compliance with the EU's Markets in Crypto-Assets Regulation (MiCA) and oversight from both the Finnish Financial Supervisory Authority and Singapore's central bank. The stablecoin, available through partners such as Kraken and Gate, is part of a broader push into European markets, aligning with MiCA norms including reserve requirements and audit protocols. The launch is supported by the Global Dollar Network, an infrastructure project backed by financial and fintech giants like Kraken, Robinhood, and Mastercard.

  Expand Hide

  

• Jun 30, 12:07 PM The Block

  Strategy acquires 4,980 more bitcoins, expands portfolio to 597,325 BTC

  Strategy recently purchased 4,980 bitcoins for about $531.9 million, increasing its total holdings to 597,325 BTC, valued over $64 billion. The funds for the latest acquisition came from ATM sales of its various stocks including MSTR, STRK, and STRF preferred shares. With this addition, Strategy's BTC totals more than 2.8% of the total circulating supply, reflecting significant paper gains. The company leverages its '42/42' capital raise plan aiming for extensive BTC acquisitions by 2027.

  Expand Hide

  

• Jun 26, 4:06 AM The Block

  Metaplanet surpasses Tesla with a new bitcoin purchase, becoming seventh-largest corporate holder

  Metaplanet, a Japanese investment firm, has purchased an additional 1,234 BTC for approximately $132.7 million, raising its total holdings to 12,345 BTC. With this acquisition, Metaplanet's holdings are valued at about $1.3 billion and the company now ranks as the seventh-largest publicly listed corporate holder of bitcoin, surpassing Tesla. The purchase followed a recent $515 million fundraising aimed to expand its bitcoin portfolio as part of its plan to secure 1% of bitcoin's supply.

  Expand Hide

  

• Jun 25, 9:01 PM The Block

  Invesco and Galaxy propose Solana ETF in new SEC filing

  Invesco and Galaxy Digital have submitted a registration statement for a Solana ETF named 'Invesco Galaxy Solana ETF' to the US Securities and Exchange Commission. The ETF, set to trade under the ticker 'QSOL' on Cboe BZX if approved, will have Invesco Capital Management as the sponsor, with Galaxy Digital handling token acquisition and Bank of New York Mellon as the administrator. Coinbase Custody Trust Company will act as custodian for the Solana tokens.

  Expand Hide

  

• Jun 25, 3:07 PM The Block

  Bernstein increases Coinbase price target to $510, citing growth and market strength

  Bernstein has raised its price target for Coinbase to $510, up from $310, attributing the increase to enhanced earnings forecasts, emerging growth avenues, and a new valuation approach. Coinbase, which is part of the S&P 500 index, benefits from its diversified services including US crypto trading leadership, custody for most Bitcoin ETFs, and its involvement in Base, Ethereum's growing Layer 2 system. The firm's recent agreements, like acquiring Deribit and earning from USDC transactions, align with US crypto legislation, predicting significant revenue growth. Despite competitive pressures, Coinbase maintains its market share and pricing, with projected revenues of $9.5 billion by 2025 and gains in profitability leading to higher earnings per share estimates.

  Expand Hide

  

• Jun 24, 1:22 PM Grayscale

  Grayscale launches Space and Time Trust to invest in blockchain data convergence

  Grayscale introduced the Grayscale Space and Time Trust, targeting investments in the Space and Time blockchain which addresses blockchain's computational limits. Space and Time integrates blockchain reliability with high-performance data capabilities to support Web 3.0 and AI, providing scalable, transparent data access. The trust allows accredited investors to gain exposure to SXT tokens, which support network security and data transactions, supporting crucial verifiability and auditability for decentralized finance and AI.

  Expand Hide

  

• Jun 23, 8:13 PM The Block

  Federal Reserve modifies bank examination guidelines, removing reputational risk

  The Federal Reserve has revised its bank examination process by removing 'reputational risk' and focusing on more specific financial risk assessments. This change is intended to provide clearer guidance for banking supervision and may enable banks to more freely serve crypto industry entities, who have previously voiced concerns over debanking practices hindering crypto adoption in the US. The alteration aligns the Federal Reserve with actions taken by the OCC and FDIC and supports ongoing legislative efforts to refine risk evaluation in banking.

  Expand Hide

  

• Jun 23, 6:39 AM The Block

  Hong Kong sets regulatory framework for stablecoins, boosts offshore yuan

  Hong Kong's Financial Secretary Paul Chan highlighted the strategic advantage the city gains with its new stablecoin legislation, set to take effect on August 1, making it one of the earliest regions to establish a regulated environment for stablecoins. Chan emphasized Hong Kong's significant role, processing 80% of global offshore yuan transactions, enhancing its position as a financial hub aligned with China's national strategies. This development occurs as global digital asset regulation grows and other nations, including the US, are advancing similar crypto regulations.

  Expand Hide

  

• Jun 19, 5:48 PM The Block

  Telegram founder Pavel Durov allowed France exit under strict conditions

  French authorities have permitted Telegram CEO Pavel Durov a second exit from France since his detention in August 2024. Durov, under investigation for alleged illicit activities related to Telegram's services, can visit Dubai, where his company is based, for a maximum of 14 days. This travel is primarily for managing personal affairs, including spending time with his newborn and his injured teenage son.

  Expand Hide

  

• Jun 19, 10:50 AM Cointelegraph

  Bitget secures regulatory license in Georgia to expand Eastern European operations

  Bitget has obtained a license in Georgia to operate as a digital asset exchange and custodial wallet provider, expanding its presence in Eastern Europe. This move aligns with the region's precise crypto regulatory environment and support policies. Bitget, already holding licenses in the UK, Italy, Poland, Bulgaria, Lithuania, and the Czech Republic, can now offer Georgians access to spot trading, futures, and copy trading within a locally regulated framework. Additionally, enhanced security measures, including proof of reserves and a protection fund, are now available to Georgian users.

  Expand Hide

  

• Jun 19, 12:54 AM The Block

  President Trump pushes for House approval of GENIUS Act to lead US in stablecoins

  US President Donald Trump has urged the House of Representatives to swiftly pass the GENIUS Act, emphasizing that the legislation will establish the US as the leader in digital assets, particularly stablecoins. The GENIUS Act focuses on creating a comprehensive regulatory framework for dollar-pegged stablecoins and has passed the Senate with bipartisan support, now awaiting a House decision. Trump highlighted the potential for massive investments and innovations that would come with the bill's enactment.

  Expand Hide

  

• Jun 18, 9:22 PM The Block

  Treasury Secretary Bessent backs Trump's stablecoin strategies to ensure US dollar dominance

  US Treasury Secretary Scott Bessent supports President Donald Trump's pro-innovation stance on crypto, particularly stablecoins, as a strategic move to affirm the supremacy of the US dollar globally. Bessent highlighted the potential of stablecoins to be major investors in US Treasuries, a factor that could enhance dollar dominance. The legislative push for stablecoin regulation follows with both the Senate and the House progressing bills, amidst predictions of substantial market growth with traditional financial institutions like JPMorgan Chase and Bank of America poised to enter the market.

  Expand Hide

  

• Jun 18, 4:00 PM The Block

  Paxos launches Paxos Labs to facilitate institutional DeFi integration

  Paxos has introduced a new subsidiary, Paxos Labs, designed to enable institutions to integrate decentralized finance (DeFi) and onchain products into their applications effortlessly. Paxos Labs offers APIs for issuing branded stablecoins, deploying tokenized yield strategies, and managing digital assets. Focused on serving consumer fintech apps, exchanges, and blockchain networks, Paxos Labs aims to simplify the incorporation of DeFi elements into traditional platforms, enhancing user engagement and monetization.

  Expand Hide

  

• Jun 18, 11:29 AM The Block

  K33 predicts new strategic opportunities with upcoming spot altcoin ETFs

  K33 highlights that pending approvals for new spot altcoin ETFs by a more supportive SEC could enable innovative long/short trading strategies. Multiple filings for Solana and other crypto ETFs suggest increased SEC involvement and a potential inclusion of staking in these products. Differences in market dynamics from previous Bitcoin and Ethereum ETF launches, known as the "Grayscale effect", may influence new ETF setups, specifically impacting how Solana and Litecoin are positioned in the market.

  Expand Hide