Financial services company State Street will allow its clients to invest in bitcoin and cryptocurrencies thanks to Lukka, while GoldenTree diversifies and expands its portfolio with BTC. These and more news in this practical daily summary so that you are always informed with the most recent events that occur within the crypto world.
Bitcoin and Blockchain Adoption
📍Financial services and banking company State Street opens the doors to investing in bitcoin and cryptocurrencies. State Street reported which is partnering with cryptocurrency software provider Lukka to expand its digital asset fund management capabilities and enable its clients to enter this alternative investment. The company is also preparing to launch a new division called State Street Digital, which will be focused on digital assets to address the evolving shift they are causing in finance.
State Street Digital was born from a Series C financing round led by Lukka in December of last year.
📍GoldenTree, the prestigious American asset management company, is investing in bitcoin. According to one publication According to The Street, GoldenTree has been buying bitcoins to diversify its investment portfolio and diversify its strategies. The media cites sources close to the company, but who preferred to remain anonymous. The Street also does not detail the amount of investment in Bitcoin that the asset management firm has made.
GoldenTree manages approximately $45.000 billion in assets under management.
NFT and DeFi Markets
📍CryptoPunks #5217 and #2140 are the third and fourth most expensive punks in history. So far, CryptoPunks #5217 and #2140 are among the most expensive crypto collectibles ever sold, with bids of $5,4 million and $3,7 million.
CryptoPunks #2140 was purchased by investor and blogger Gary Vaynerchuk, who paid a total of 1.600 ETH to acquire the NFT.
CBDC and Central Banks
📍The Central Bank of Brazil believes in the potential of CBDCs to provide more efficient services. According to informs A local media outlet, the director of financial system organization and resolution of the Central Bank of Brazil, João Manoel Pinho de Mello, explained that although a digital currency CBDC It would not completely replace the use of fiat money, but it would help the country to enhance efficiency and transparency within its financial system.
Pinho de Mello believes that a CBDC will help optimize completion times and reduce transaction costs, whether as a retail digital currency or one implemented for cross-border payments and interbank operations.
Development and Technology
📍Avalanche Bridge, Avalanche's new bridge for cross-chain interoperability. The protocol developed by AVA Labs launched a new interoperable bridge to connect Ethereum with other blockchains in the crypto ecosystem. According to the publicationAvalanche Bridge (AB) is the upgraded version of Avalanche-Ethereum Bridge (AEB), built with Intel SGX technology to reduce costs and optimize interaction with Ethereum dapps. Thus, AB replaces AEB, providing a significantly better user experience, with increased security and faster finality. Commission fees will also be dramatically lower, the protocol stated.
Rules and Regulations
📍US Senator Cynthia Lummis claims the US government is accidentally pushing crypto adoption. For Lummis, the economic aid that the government is granting is pushing society to adopt cryptocurrencies as a safe haven. The inflationary levels that increasingly devalue the purchasing power of the dollar, the product of a massive printing of money since the arrival of the Covid pandemic, are “doing much more than I can to accelerate the adoption of digital assets”, the Wyoming state senator said via Twitter.
📍Michele Korver, a digital currency advisor at FinCEN, sees cryptocurrencies as just another means of transferring value. Korver revealed in statements Law360 believes that cryptocurrencies are just another way to transfer value and make payments, a product of current technological development and innovation. The digital currency advisor for FinCEN, an office attached to the United States Department of the Treasury, sees cryptocurrencies as an interesting technological evolution, although in her role she has plans to enforce current laws of the financial system by companies that provide services with cryptocurrencies and digital assets.
📍BlockFi remains in the crosshairs of US regulators. The company that offers bitcoin interest-bearing savings accounts continues to face pressure from several state regulators in the United States. Days ago, securities regulators in the states of New Jersey, Alabama, Texas, and Vermont informed BlockFi that it must close its BIA bitcoin interest-bearing accounts for violating existing regulations. Now, the state of Kentucky is joining the regulation and asking BlockFi to suspend its services within its territory.
BlockFi has said it is in constant communication with regulators to reach a settlement and is preparing its defense, as it believes its BIA product does not violate the federal securities laws of the aforementioned states.
Continue reading: Cryptocurrencies now have more than 220 million users in the world
