Category: crypto

The Hong Kong Monetary Authority (HKMA) has launched the second phase of its central bank digital currency pilot, Project e-HKD+, focusing on advanced use cases like tokenized deposits and offline payments. Eleven firms will evaluate digital money’s viability, while an e-HKD Industry Forum will facilitate collaboration and address common challenges over the next 12 months.

Swiss crypto banking group Sygnum has secured a crypto license in Liechtenstein, allowing its subsidiary to provide regulated digital asset services. This strategic move enables Sygnum to expand its operations into the EU, aligning with upcoming regulations, while also planning entries into Hong Kong and strengthening partnerships in various markets.

Kamala Harris, the US Vice President and Democratic presidential candidate, has pledged to support AI and digital assets if elected. At a fundraiser, she emphasized collaboration for technological innovation and regulatory clarity, aiming to foster a safe business environment. This commitment has spurred increased interest in cryptocurrencies and potential Bitcoin adoption.

The SEC has approved BlackRock’s Bitcoin ETF options, raising expectations of a potential gamma squeeze. Experts believe this approval will lead to the development of more diverse funds, offering greater exposure to Bitcoin and potentially influencing the market significantly.

Bitcoin staking has emerged through platforms offering Liquid Staking Tokens (LSTs), allowing BTC holders to earn returns indirectly. While Bitcoin’s Proof of Work limits traditional staking, protocols like Babylon and Lombard enable users to stake BTC and participate in decentralized finance, signaling potential growth and new yield opportunities in the ecosystem.

Sky, previously MakerDAO, will launch its decentralized stablecoin, USDS, on Solana using the Wormhole protocol. Founder Rune Christensen announced this at the Solana Breakpoint conference, highlighting the expansion potential. Additionally, Sky plans a short-term liquidity incentive program offering up to 2 million SKY tokens weekly to encourage integration and adoption.

MicroStrategy acquired 7,420 BTC for $458.2 million using proceeds from a senior notes offering, boosting its total Bitcoin holdings to 252,220 BTC valued at $15.84 billion. The firm’s Bitcoin ETFs are gaining traction in the market, with impressive trading volumes, highlighting significant investor interest.

DogLibre, founded by Lee Lin Liew, combines blockchain technology with a mission to enhance animal welfare, specifically for stray and pet dogs. By utilizing decentralized governance and the $DOGL token, it aims to improve funding, awareness, and community engagement in dog rescue efforts worldwide, fostering transparency and trust.

Bitcoin’s price dipped to $62,586 before rebounding to $63,127, reflecting a recovery from earlier lows below $53,000. This surge coincided with a $158.3 million inflow into Bitcoin ETFs, reversing a prior outflow. Notably, Bitcoin ETFs now represent 5% of the total market cap, significantly outperforming gold ETFs.

Franklin Templeton and Citigroup are adopting the Solana blockchain for financial services. Franklin Templeton plans to launch a mutual fund on Solana, citing its low transaction costs and scalability. Citi aims to use Solana for cross-border payments and smart contracts. This reflects a growing trend of blockchain adoption among traditional financial institutions.