Google Partners With Coinbase, BitPay and Google is Watching Crypto Very Closely

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Google Partners With Coinbase, BitPay and Google is Watching Crypto Very Closely

Source: Google, Instagram

Get your daily, bite-sized digest of cryptoasset and blockchain-related information – investigating the tales flying below the radar of today’s crypto information.

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Adoption news

  • Google has partnered with companies, including Coinbase Global and BitPay, to store cryptoassets in digital cards, while still having customers pay in traditional currencies, Bloomberg reported, citing Bill Ready, Google’s president of commerce. According to him, “crypto is one thing we pay quite a lot of attention to” and the company is trying to do more of those partnerships. Additionally, per the same report, Google has employed former PayPal Holdings executive Arnold Goldberg to run its payments division and set a brand new course for the business after it scrapped a push into banking.
  • Rob Nichols, president of the American Bankers Association, said in a blog post that US banks are on the lookout for methods to supply providers that may permit their prospects to purchase and promote cryptocurrencies. Nevertheless, many token platforms are doing business akin to conventional lenders, so they need to be regulated as such, he argued.
  • UFC heavyweight titleholder Francis Ngannou announced he’ll take half of his UFC 270 prize purse in bitcoin (BTC) by way of Money App. The French-Cameroonian MMA fighter will take on the undefeated Ciryl Gane on January 23 and is ready to earn a guaranteed USD 750,000.

Stablecoins news

  • For the first time since 2019, USD coin (USDC) supply on Ethereum (ETH) surpassed tether (USDT) supply, reported on-chain analytics agency Coin Metrics. USDC supply on Ethereum is now over 40B, rising 10x from simply 4B originally of 2021. Tether remains to be the biggest stablecoin by total supply though, with an additional USDT 39bn on Tron (TRX).

Economics news

  • UK inflation has jumped to a near-30-year excessive of 5.4%, pushed greater by rising costs for food, furniture, clothes, and housing prices, reported The Guardian. This deepens the nation’s cost of living crisis, and heaps strain on the Bank of England to boost interest rates at its next meeting in February, following December’s shocking hike.

Regulation news

  • Student loan and financial service provider Social Finance Inc. (SoFi) received conditional approval from the US Office of the Comptroller of the Currency (OCC) to create a full-service national bank, supplied the brand new entity does “not interact in any cryptoasset actions or providers.”
  • Crypto ATMs are being closed down in Singapore because the city-state strikes to restrict shopper advertising and marketing of crypto, per Bloomberg. Daenerys & Co., Singapore’s greatest operator of the machines, ceased its services to comply with the Monetary Authority of Singapore’s request.
  • The UK’s Financial Conduct Authority (FCA) is planning to tighten its guidelines on how cryptoassets are marketed.  When the federal government brings the promotion of those “high-risk investments” below the FCA’s remit, the regulator plans to categorize qualifying cryptoassets as ‘Restricted Mass Market Investments,’ that means that customers would solely be able to respond to cryptoasset monetary promotions if they’re classed as restricted, high-net-worth or refined traders. The FCA is inviting suggestions on its proposals by March 23.

CBDCs news

  • The Central Bank of Iran (CBI) plans to launch a central bank digital currency (CBDC) “within the near future,” the Iranian Labour News Agency reported. They cited the CBI Vice Governor for IT Affairs Mehran Moharamian saying the bank sees “cryptocurrencies” as an answer for resolving inconsistencies and for decentralizing assets.

Exchanges news

  • Bitstamp announced that it’s going to become the exclusive crypto exchange partner of Guild Esports, a global teams organization and life-style brand co-owned by English former professional footballer David Beckham, with the signing of a three-year world sponsorship deal for GBP 4.5m (USD 6.14m).
  • Binance said that it has joined the National Cyber-Forensics and Training Alliance (NCFTA), a nonprofit company centered on figuring out, validating, mitigating, and neutralizing cybercrime threats. Binance claims it’s the first group from the blockchain and crypto industry to formally be part of the alliance.
  • Gemini announced the acquisition of trading technology platform Omniex, which enables the exchange to publicly launch Gemini Prime, a crypto prime brokerage providing that has been supporting a select client base over the previous 12 months. Following the complete rollout of Gemini Prime in Q2 2022, the combination of Omniex with Gemini’s present custody, clearing, and over-the-counter (OTC) trading capabilities will simplify trading for institutional traders by offering a single point of entry to a number of exchanges and OTC liquidity sources, amongst other advantages, they stated.
  • Digital asset platform Bakkt Holdings announced a partnership with the crypto lender Nexo (NEXO), to custody crypto assets within the Bakkt Warehouse, the company’s regulated custodian that permits for storage of bitcoin and ethereum.

Blockchain and DLT news

  • Privacy infrastructure startup Nym Technologies stated it has generated the first block for its Nym mainnet on the blockchain ‘Nyx’, as its subsequent step in the direction of its absolutely functional mainnet launch. The Nym workforce is now onboarding validators, together with Dokia Capital, a16z-backed Figment, Chorus One, and Telco giant Swisscom, amongst others. Swisscom’s Digital Asset division is responsible for the pilot initiative, they announced.
  • The Hedera Governing Council (HBAR) voted to purchase the intellectual property rights to the hashgraph consensus algorithm from Swirlds, Inc., the original creator of the hashgraph consensus algorithm and founding member of the Council. The members further made a commitment to make the code open source below Apache 2.0 license in 2022. The Council members additionally introduced that the network code will likely be out of beta following the mainnet upgrade.

NFTs news

  • Movie show chain AMC deployed exclusive “I Own AMC” non-fungible tokens (NFTs) to the greater than 580,000 shareholders who registered by way of AMC’s Investor Connect portal by the December 31 deadline. The NFTs will likely be tradeable, however they also provide perks to holders, similar to potential reductions and “other benefits.”
  • British artist Damien Hirst’s first NFT collection is getting a dedicated price index courtesy of Chainlink (LINK). His NFT sequence known as “The Currency” consists of 10,000 pictures with slight variations.

Mining news

  • Bitcoin miner Argo Blockchain said it’s beginning a non-mining enterprise unit known as Argo Labs, in an effort to diversify its business. Argo Labs is focused on two key areas: network participation, which consists of offering infrastructure assistance, working nodes and validators, and staking revolutionary projects; and efficient deployment of crypto treasury property, which includes supporting early-stage tasks and participating in DeFi, NFT and metaverse.

Investments news

  • Brazil-based crypto asset manager Hashdex said it is going to launch an exchange-traded fund (ETF) following 12 decentralized finance (DeFi) tokens. The product will likely be listed on the Brazilian inventory trade B3 as of February, the company stated.
  • Blockchain gaming infrastructure creator Mythical Games has acquired cloud streaming platform Polystream.
  • Blockchain institutional capital marketplace Maple Finance introduced its acquisition of Avari, an undercollateralized lending protocol.
  • NFT protocol Metaplex concluded a USD 46m token sale to help its strategic pivot into metaverse applications, co-led by venture firms Multicoin Capital and Jump Crypto.
  • True Global Ventures 4 Plus (TGV4 Plus) Fund invested USD 5.7m and led the Series B round of USD 17m into Coinhouse, an organization that has been offering crypto management and transaction services since 2015.
  • IndiGG, the India subDAO of Yield Guild Games (YGG), secured USD 6m in funding to foster the play-to-earn movement in India.
  • Carry1st, Africa’s main cellular video games publisher, introduced a USD 20m Series A extension led by Andreessen Horowitz, with participation from Avenir and Google, and rapper Nas, amongst others. The round represents Andreessen Horowitz’s first investment in an organization headquartered in Africa, they stated.

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