Crypto Long & Short: This Week's Biggest Crypto Stories

Binance allegations, Robinhood's IPO filing, digital asset outflows, and more. |
Ricardo Salinas Pliego, a Mexican multibillionaire and founder of Grupo Salinas, voiced support for Bitcoin in a tweet on Sunday. TAKEAWAY: Pliego tweeted that he was working with his bank, Banco Azteca, to be the first in Mexico to accept bitcoin. The digital asset has been a hot topic in Latin America since El Salvador adopted bitcoin as legal tender. Pliego encouraged his Twitter followers to "buy bitcoin now and not to sell."

 

Crypto.com and Circle are working together to develop on-ramps for the stablecoin USDC. TAKEAWAY: A previous partnership between Crypto.com and Visa allows payments to be settled in USDC, so clients can make real-world transactions with their stablecoins. The transparency of USDC and partnerships like these are contributing to USDC's growth versus the larger tether stablecoin (USDT).

 

TP ICAP, Standard Chartered and Fidelity await U.K. approval to launch a cryptocurrency trading platform. TAKEAWAY: The entry of a large forex intermediary is notable. 

 

Regulators from Thailand and the Cayman Islands were the latest to take action against Binance, a large offshore crypto exchange. TAKEAWAY: Binance's exchange reports the most volume of all cryptocurrency exchanges and has recently come under fire from regulators across the world. The recent complaints stated that Binance was not licensed to operate in either Thailand or the Cayman Islands.

 

Robinhood released its S-1 on July 1, revealing that 17% of its first-quarter revenue stemmed from cryptocurrency transactions. TAKEAWAY: Robinhood's tactics and retail focus have brought unwelcome regulatory attention, including a focus on its cryptocurrency services. Notable: The company also announced that almost 34% of its crypto revenue (6% of its total revenue) came from Dogecoin transactions. 

  A message from Tezos

Alternate text

You've heard about crypto, DeFi, and clean NFTs. Now discover Tezos. Artists, conservationists, entrepreneurs, comic book fans, and collectors around the world are envisioning how to build, create, and use Tezos in new and unexpected ways. Discover how people are re-imagining the world around you on Tezos.

A message from CoinDesk

We've launched on Snapchat. On our debut show, "CoinDesk Breaks It Down," we distill the noise around dogecoin, the energy debate and more. Follow for original content, twice weekly.

Podcast episodes worth listening to:

A message from Coindesk

The Investor's Perspective on the Bitcoin Taproot Upgrade

Taproot is a bundle of three upgrades to Bitcoin aimed at improving network security, privacy and scalability. At the same time, it poses some potential drawbacks to Bitcoin including risks of low adoption, unintended privacy shortcomings and Bitcoin community disappointment and fracturing.

CoinDesk Research's newest report dives into the economic impact and investment implications of the Taproot upgrade.

Download the full report.

ATTENTION: Scammers have been sending fraudulent emails with links to sites disguised to look like coindesk.com. If you are in doubt about a link, type https://www.coindesk.com directly into your browser; do not copy and paste. Remember, if something seems too good to be true, it probably is.

Crypto Long & Short

 

A newsletter from CoinDesk

 

See Previous Editions

Copyright © 2021 CoinDesk, All rights reserved. 

 

250 Park Avenue South New York, NY 10003, USA

You can manage your preferences here or unsubscribe from all CoinDesk email. 

Related Posts


EmoticonEmoticon

:)
:(
=(
^_^
:D
=D
=)D
|o|
@@,
;)
:-bd
:-d
:p
:ng
:lv