3350 Metaplanet Inc

Nubank expands services by partnering with Lightspark to integrate Bitcoin Lightning Network

Nubank (NYSE:NU), the largest fintech bank in Latin America, has partnered with Lightspark to integrate the Bitcoin Lightning Network and Universal Money Addresses into its platform. This collaboration aims to offer fast and low-cost transactions between Bitcoin (COIN:BTCUSD) and fiat currencies. The initiative aligns with Nubank’s goal to provide more efficient and economical services to its customers through blockchain technology.

Solana launches “blinks” for crypto transactions on websites

The Solana Foundation (COIN:SOLUSD) unveiled a new feature called Solana Actions and “blinks,” allowing direct transactions via shareable links. This advancement enables any website to host Solana transactions, facilitating everything from crowdfunding to online purchases and on-chain voting. According to Jon Wong of the Solana Foundation, websites and social media can distribute blinks via physical QR codes or digital links. Security is emphasized with trusted domain approvals to prevent fraud.

Crypto market recovers after significant declines

After hitting six-week lows, the price of Bitcoin (COIN:BTCUSD) rebounded on Tuesday, reaching an intraday high of $62,130.84 and is currently quoted at $61,684.33, up 2.36% in the last 24 hours. This move comes amid a wave of massive sell-offs, with the RSI hitting record low levels, indicating a possible reversal or stabilization in future prices. Analysts point to a “massive liquidity zone” around $65,000 as the next short-term target.

A tweet from Injective (COIN:INJUSD), hinting at a potential collaboration with Fetch.AI (COIN:FETUSD), sparked speculation and excitement in the crypto community on Tuesday, pushing the FET price from an opening of $1.63 to an intraday high of $1.80. At the time of writing, FET had reversed the gains and was down 1.23%, quoted at $1.61.

The meme coin Bonk (COIN:BONKUST) also rose significantly on Tuesday, from $0.000022 to $0.000024. The increase was driven by expectations from technical and on-chain analyses, suggesting a possible recovery in value after BONK lost nearly $2 billion in less than two months. Additionally, a growth in social dominance indicated increased interest and discussions about BONK, often correlated with price hikes. Currently, the token is up 4.55%, quoted at $0.000023.

Meanwhile, TonCoin (COIN:TONCOINUSD) and Ripple (COIN:XRPUSD) rose up to 1%. Ethereum (COIN:ETHUSD) and Binance Coin (COIN:BNBUSD) were up to 2%. Meanwhile, Solana (COIN:SOLUSD) and Dogecoin (COIN:DOGEUSD) rose 5.12% and 7.53%, respectively.

German government sells $54 million in Bitcoin

The German government’s wallet made three transactions on June 25, selling a total of 900 Bitcoins, valued at over $54 million. The transfers included 200 BTC to Coinbase, 200 BTC to Kraken, and 500 BTC to the unknown wallet “139Po”. This is not the first interaction of the wallet with “139Po”, raising speculations about its activities. With 46,359 Bitcoins remaining, the wallet could influence the market, potentially affecting the Bitcoin price below $60,000.

US Bitcoin funds see $174 million outflow

On June 24, US Bitcoin funds saw net outflows totaling $174.45 million, marking the seventh consecutive day of outflows. The Grayscale ETF (AMEX:GBTC) led with outflows of $90 million, followed by Fidelity’s ETF (AMEX:FBTC) with $35 million. Funds like EZBC, HODL, BITB, Ark Invest, and others also recorded outflows, while BlackRock’s IBIT (NASDAQ:IBIT) saw zero flow on Monday. Bitcoin (COIN:BTCUSD) fell to its lowest level in six weeks, briefly below $60,000, influenced by Mt. Gox’s announcement of distributing $9 billion in bitcoins to creditors, raising investor concerns about potential selling pressure.

VanEck advances with Ethereum ETF and expects quick launch

VanEck submitted Form 8-A for its Ethereum ETF to the SEC on June 25, bringing the fund closer to direct trading. According to Bloomberg analyst Eric Balchunas, based on the rapid progress of the company’s Bitcoin ETF, the Ethereum ETF could begin trading by July 2, 2024. The SEC’s lack of concerns about the process suggests an accelerated approval and listing.

Optimistic outlook for US Ethereum ETFs according to Bitwise CIO

Matt Hougan, CIO of Bitwise, estimates that US spot Ethereum ETFs will attract around $15 billion in the first 18 months after launch. This expectation is based on Ethereum’s (COIN:ETHUSD) relative market capitalization compared to Bitcoin and the dynamics of the international exchange-traded product market.

Japanese institutional investor interest in cryptocurrencies grows

A survey by Nomura Holdings (NYSE:NMR) and Laser Digital revealed that more than half of investment managers in Japan plan to invest in cryptocurrencies over the next three years. The survey, which included 547 managers, showed that 54% are inclined to diversify their portfolios with digital assets. Managers cited diversification, low correlation with other assets, and high return potential as the main reasons, with many preferring to allocate 2-5% of their assets in crypto.

Metaplanet launches subsidiary to bolster Bitcoin strategy and global expansion

Metaplanet (TSX:3350), a prominent company in the Bitcoin market, founded Metaplanet Capital Limited in the British Virgin Islands to manage its Bitcoin investments and explore international markets. The subsidiary, led by Simon Gerovich with a capital of $10,000, will strengthen the company’s Bitcoin-focused strategy. Recently, Metaplanet purchased 141 Bitcoins and announced the issuance of new bonds to finance more acquisitions, consolidating its position as a powerhouse in Bitcoin strategy in Asia.

Bybit surpasses Coinbase to become second largest cryptocurrency exchange

Cryptocurrency exchange Bybit achieved significant growth, surpassing Coinbase Global (NASDAQ:COIN) in trading volume and establishing itself as the second-largest exchange in the sector, according to Kaiko. Since October 2023, Bybit doubled its market share from 8% to 16%. This increase coincides with the launch of spot bitcoin ETFs in January, boosting trading volumes across the market. Bybit’s competitive fee structure has been a decisive factor in attracting traders.

CEO of Delio states deposits had no principal protection guarantee

Jung Sang-ho, CEO of the South Korean cryptocurrency platform Delio, facing legal issues after the company’s bankruptcy, stated that he never promised the protection of investors’ principal deposits. During a trial, he mentioned that the terms of service, in compliance with the requirements of the Financial Intelligence Unit of Korea, clarified that deposits were not guaranteed. Creditors and the prosecution question the practice, while the defense argues that the company’s financial movements were limited.

Couple claims second payment in Celsius bankruptcy after payout disparity

According to Cointelegraph, a couple holding corporate accounts in the bankrupt Celsius moved to court demanding a second payment. They claim they received 35% less than non-corporate account holders, alleging Celsius delayed payments and converted them into cash instead of cryptocurrencies, resulting in significant losses. Represented collectively as “Faller Creditors,” four IRAs — BFaller RD, BFaller ROTH RD, SFaller TRD RD, and SFaller RD — which before the bankruptcy held more than $1 million in cryptocurrencies, now seek a court order to receive $634,337.93 in Bitcoin, as adjusted by the bankruptcy plan. These accounts are owned by Sheri Anne Faller and Bernard Jacob Faller, as registered in the State of California. A hearing is scheduled for June 27.

Regulatory and technological challenges of generative AI and the role of blockchain

The expansion of generative artificial intelligence raises critical questions for governance, especially in validating the authenticity of content and identities in a world where AI can replicate almost any media. To combat this, the Coalition for Content Provenance and Authenticity (C2PA) is developing technical standards to verify content provenance. However, these methods have limitations, such as the possibility of metadata alteration. Blockchain technology, with its ability to maintain immutable records, is seen as a promising solution to ensure the integrity of information. If implemented effectively and integrated with global standards, it could help establish a new standard of digital authenticity.

Blockchain democratizes investment in renewable energy

Blockchain technology is revolutionizing the renewable energy sector by enabling smaller-scale investments in clean energy projects like wind and solar. Previously restricted to large investors, blockchain now offers the public the opportunity to participate, paving the way for a “stock market” of renewable assets. Plural Energy, a US startup, is leading the integration between blockchain technology and the renewable energy sector. The company’s CEO, Adam Silver, highlights that Plural Energy’s mission is to enable ordinary investors to participate in financing clean energy projects. Using blockchain, the company facilitates secure and decentralized small-scale investments, allowing access to a market traditionally dominated by large institutional investors.

Proposed law seeks acceptance of Bitcoin for federal tax payments

Representative Matt Gaetz has introduced a bill proposing the acceptance of Bitcoin (COIN:BTCUSD) for federal tax payments, aiming to modernize the tax system. The measure seeks to integrate digital currencies into the US financial system, promoting innovation and flexibility for taxpayers. The legislation suggests that the Secretary of the Treasury develop a plan that would include regulations on the immediate conversion of Bitcoin to dollars and specifications on receiving these payments.

Colosseum raises $60 million to invest in Solana startups

Colosseum, a new accelerator for Solana-focused startups, announced it has raised $60 million for an investment fund. The fund will focus on early-stage startups emerging from Solana hackathons, promoting cryptographic innovation. Co-founder Clay Robbins highlighted the diverse support from investors, emphasizing the potential of the Solana ecosystem. Colosseum sees hackathons as crucial catalysts for new companies, evidenced by the success of its first event with 8,000 participants. So far, Colosseum has invested $2.75 million in 11 emerging companies.