2021-07-01 12:41:50
Major Market Updates in the Last 24hrs.
1. Formula 1 strikes $100 million cryptocurrency sponsorship
Formula 1 landed a new sponsor Tuesday in a deal with Crypto.com, a platform that allows users to buy and sell cryptocurrencies. The terms of the agreement were not provided, but people familiar with the pact told CNBC it’s a five-year deal that totals more than $100 million.
2. Indian Investors Are Toppling Their Counterparts And Spearheading Crypto Adoption In Asia
According to our recent report, data from Chainalysis has shown that crypto investments in India have grown approximately 900%. The volume of Indian cryptocurrency trades which was valued at $200 million 12 months ago, is currently valued at $40 billion.
3. George Soros's Family Office Starts Trading Bitcoin
According to State Street, which cites people familiar with the matter, Soros Fund Management has received internal approval from CIO Dawn Fitzpatrick to start trading cryptocurrencies this June.
As per the financial outlet's report, the family office is not just kicking the tires on digital assets, which implies a big bet.
4. NYDIG and NCR are Bringing Bitcoin to the People
The partnership will allow 650 US-based banks and credit unions to offer crypto trading services and bitcoin purchases to about 24 million customers through mobile applications built by NCR in the coming months.
5. Katy Perry to drop NFT collection later this year
Pop music star Katy Perry announced Wednesday that she’s dropping a non-fungible token (NFT) collection, as well as her purchase of a minority stake in Theta Labs, a firm focused on decentralizing peer-to-peer video streaming using blockchain technology.
6. July 1, Germany will allow 4,000 investment funds - managing $1.8 Trillion - to invest up to 20% in Bitcoin
On April 22nd, Germany’s federal parliament, the Bundestag, cleared a new legislation, which enables institutional investment funds – the so-called Spezialfonds – to allocate 20% of their balance to crypto-assets. This new law will come into force on July 1st 2021.
7. Why MATIC traders may be at a decision-making point
The altcoin market along with the Bitcoin market was seen surging on Tuesday. The price of Polygon’s MATIC was also witnessing a similar surge in the short term. However, considering the long-term picture of MATIC, traders may be at a decision-making point.
8. SBI, Hamamatsu Iwata Bank pick Ripple’s tech for international remittance
Japan’s SBI has been a well-reputed, long-standing partner of Ripple since 2016. SBI Remit, a subsidiary of banking giant SBI, recently brought to light its collaboration with a major Japanese bank – Hamamatsu Iwata. This partnership aims to build a RippleNet based international remittance platform.
9. Ethereum’s London network upgrade goes live on Goerli testnet
Here, it’s worth noting that the latest deployment and the one before it have been in line with the release schedules put out by the Ethereum Foundation in mid-June. At that time, a blog post shared by the Foundation had claimed,
10. Why South Korea’s ‘Kimchi coins’ are in trouble
With changing regulatory landscape in South Korea, it has been getting tough for the cryptocurrency exchanges to comply. The result of this confusion has led many exchanges to limit the number of cryptocurrencies they offer in the country. As per reports, the exchanges have begun a cleansing process and classifying some altcoins as “Kimchi coins.”
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