DB Deutsche Bank Aktiengesellschaft

Bitcoin nears record high after strong influx into BlackRock’s ETF

The price of Bitcoin surged to a high of $71,108.90 on Tuesday, influenced by record inflows into BlackRock’s Bitcoin ETF (NASDAQ:IBIT). Currently, it is priced at $70,919, marking a 3.08% increase in 24 hours. Other cryptocurrencies, such as Ethereum (COIN:ETHUSD), Binance Coin (COIN:BNBUSD), Solana (COIN:SOLUSD), TON Coin (COIN:TONCOINUSD), and Uniswap (COIN:UNIUSD) also recorded significant gains at the time of writing.

BNB on track for new record driven by platform launches

Binance’s BNB token (COIN:BNBUSD), after a rise of over 10% since last Sunday, is close to reaching its all-time high of $705, trading at $670 at the time of writing. The increase was driven by demand on the Binance Launchpad and Launchpool platforms, where BNB is needed to participate in new token offerings. Despite the enthusiasm, caution remains in the options market, where traders are buying put options with a strike price of $550 to $650, anticipating potential volatility.

Uniswap delays vote on governance and fee structure update

The Uniswap Foundation (COIN:UNIUSD) has postponed a crucial decision on revising its governance mechanism and fee structure after receiving feedback from a significant stakeholder. The delay, aimed at improving benefits for UNI token holders, was motivated by the need for additional diligence given the importance of the proposal. The organization apologized for the delay and promised to keep the community informed of any future developments. Uniswap’s native token reversed the losses of the past 7 days, appreciating 19.18% to $11.30 in the last 24 hours.

BlackRock’s Bitcoin ETF surpasses $20 billion in assets under management

BlackRock’s iShares Bitcoin Fund (NASDAQ:IBIT), a US spot Bitcoin ETF, surpassed $20 billion in assets under management, marking 15 consecutive sessions of net inflows. According to Eric Balchunas of Bloomberg Intelligence, the fund captured about $2.4 billion in the last month, one of the largest inflows in the ETF market. Since May 16, the fund has averaged $140 million in daily inflows, standing out as the leader among the top ten funds.

New Ethereum ETFs could attract up to $4.8 billion in five months

According to K33 Research, newly approved Ethereum ETFs in the US could generate between $3.1 billion and $4.8 billion in net inflows in the first five months. The estimate is based on the market relationship between Bitcoin and Ether. Analysts highlight that this would represent a significant increase of up to 1.05% of Ether’s (COIN:ETHUSD) circulating supply, reflecting strong institutional demand and potential price appreciation.

Thailand approves first spot Bitcoin ETFs

Thailand’s Securities and Exchange Commission has given the green light to the country’s first spot Bitcoin ETF, managed by One Asset Management. This product will provide broader access for retail investors, investing in major global funds for greater liquidity and security. The approval follows growing global interest in Bitcoin ETFs, with a recent increase in net inflows into US Bitcoin ETFs, highlighting continued confidence in these financial products.

Australia launches its first spot Bitcoin ETF on the CBOE exchange

Monochrome Asset Management introduced Australia’s first spot Bitcoin ETF, named IBTC, on the CBOE exchange. The fund, with a management fee of 0.98%, offers investors a regulated way to invest directly in Bitcoin, monitored by ASIC to ensure compliance and protection. Gemini acts as the custodian, ensuring investors’ legal rights to the Bitcoins.

CoreWeave offers $1 billion to acquire Bitcoin miner Core Scientific

CoreWeave Inc., specializing in cloud computing, made a formal offer of about $1 billion to acquire Bitcoin miner Core Scientific Inc. (NASDAQ:CORZ). The proposal includes an acquisition price of $5.75 per share, reflecting a 55% increase over Core Scientific’s recent average price. This acquisition is part of CoreWeave’s strategic expansion, which also includes long-term agreements for Core Scientific to host its data center operations, strengthening its position in the cryptocurrency and artificial intelligence markets.

Bitpanda and Deutsche Bank partner for fiat transactions in Germany

Cryptocurrency brokerage Bitpanda announced a partnership with Deutsche Bank (NYSE: DB) to manage fiat deposits and withdrawals in Germany. With the agreement, Bitpanda customers gain access to German International Bank Account Numbers (IBANs), facilitating conversion between cryptocurrencies and fiat currency. Lukas Enzersdorfer-Konrad, vice CEO of Bitpanda, highlighted that this collaboration will expand the banking products available to users, reinforcing the integration between traditional and digital finance: “Bringing together the best parts of the industry is where we can create real value for people… From today, we can access a range of Deutsche Bank products, unlocking benefits for our team and our users,” said Enzersdorfer-Konrad.

Astar Network proposes burning $38 million in tokens to revitalize token economy

Astar Network (COIN:ASTRUSD), a Japanese dApp project and layer-two solution, proposes burning 350 million ASTR tokens, valued at $38 million, to strengthen its tokenomics. According to Maarten Henskens of the Astar Foundation, this action should reduce inflation and boost the token’s market value, encouraging investment and realigning token supply with market conditions. The community will vote on this proposal after a discussion period.

Ark Labs innovates with Bitcoin layer 2 payment protocol

Ark Labs launched an innovative Bitcoin Layer 2 payment protocol, called Ark protocol, aiming for a more efficient alternative to the Lightning Network. This protocol eliminates the need for channel and liquidity management, simplifying transactions and maintaining user autonomy over their funds. Marco Argentieri, CEO of the company, highlighted that the Ark protocol allows fast and continuous transactions, ideal for users seeking convenience without relinquishing control over their cryptocurrencies. “With the launch of Ark Labs, we are finally making Ark a reality so that users can start immediately enjoying the benefits of scalable and seamless transactions,” said Argentieri. The protocol implementation is available for developers and promises to transform the way Bitcoin payments are made.

StarkWare explores expansion to Bitcoin with scaling technology

StarkWare, a leader in Ethereum scaling solutions, announced plans to implement its technology on Bitcoin to enhance the cryptocurrency’s transaction capacity. Valued at $8 billion, the company sees the current discussion on the Bitcoin OP_CAT proposal as an opportunity to expand its operations and use its zero-knowledge expertise to scale Bitcoin, in addition to Ethereum. The company also plans to introduce a $1 million fund to support related research.

Web3 Foundation injects resources into Polkadot expansion in Asia

The Web3 Foundation, responsible for Polkadot (COIN:DOTUSD), announced a grant to PolkaPort East to expand the blockchain network in Asia. This is the foundation’s first grant to an Asian entity, aiming to increase decentralization and technical and community growth. The grant is part of a program that includes an initial $20 million and 5 million DOT tokens allocated for Decentralized Futures, intended to support the Polkadot ecosystem.

Worldcoin pauses operations in Spain until end of 2024

Worldcoin (COIN:WLDUSD) agreed to suspend its operations in Spain until the end of 2024, as announced by the Spanish Data Protection Agency. This decision follows an ongoing investigation into the company’s data privacy practices, led by the Bavarian authority. The company has intensified security measures, including the possibility for users to delete their iris biometric data.

Polygon Labs expands zero-knowledge expertise with Toposware acquisition

Polygon Labs (COIN:MATICUSD) acquired Toposware, a company specializing in blockchain research and zero-knowledge technology. This acquisition strengthens Polygon’s strategy to enhance its zero-knowledge solutions, such as AggLayer, which promotes interoperability between Ethereum Layer 2 layers. This is Polygon’s third significant ZK technology acquisition in less than three years, continuing its expansion and innovation in the blockchain space.

Avail raises $43 million to boost web3 scalability solutions

Avail, a spin-off from Polygon (COIN:MATICUSD), raised $43 million in its Series A round to create a solution aimed at solving scalability and fragmentation issues in the Web3 ecosystem. This investment brings the total funding to $75 million. With the support of major venture capital funds, Avail plans to implement its Unification Layer to improve interoperability between blockchains and advance its Fusion security mechanism. The strategy also includes the launch of Avail Nexus, focused on addressing cross-rollup interoperability challenges.

FTX reaches provisional $24 billion settlement with IRS; Sam Bankman-Fried returns to Brooklyn detention center

Bankrupt cryptocurrency platform FTX has reached a provisional settlement with the IRS, the main US tax authority, to resolve a $24 billion dispute. The IRS initially claimed over $44 billion in taxes. Under the agreement, subject to court approval, the IRS would receive $200 million in priority tax credits and an additional $685 million as subordinated credit. This settlement covers all of FTX’s tax debts until October 2022, mitigating future litigation risks.

Meanwhile, former FTX CEO Sam Bankman-Fried was returned to the Metropolitan Detention Center (MDC) in Brooklyn after a temporary stay at a transfer facility in Oklahoma. Speculations about a possible relocation to California were dismissed. Bankman-Fried is focused on working on his conviction appeal, and Judge Lewis Kaplan recommended that he remain in New York to facilitate this process.

Platform X suspends Sahil Arora’s account over fraud allegations

Social media platform X suspended Sahil Arora’s account, “@Habibi_Comm”, for involvement in fraudulent schemes, including the promotion of celebrity memecoins. Arora was accused of manipulating conversations and forging fake partnerships, including one publicly denied by the exchange BingX. Celebrities like Iggy Azalea, Caitlyn Jenner, and Rich the Kid accused Arora of misusing their images to promote fraudulent projects.

Watford FC offers 10% of its shares to fans and investors

Watford FC, an English second division club, is selling 10% of its capital through the Seedrs platform, aiming to raise about 17.5 million pounds. The shares, priced at 12 pounds each, are available to fans and global investors, with the promise of additional benefits via digital tokens.