Summary of Crypto News This Week
- Bitcoin hit a one-week high after MicroStrategy signaled intent to add significantly to its BTC holdings.
- Tether bought BTC 1,529 worth $45.4 million in Q2, while its Q2 report showed the company had $3.3 billion in excess reserves and the profits increased 30% to over $1 billion.
- Google Cloud partnered with Celo Network as a validator while Apple was facing regulatory scrutiny in the US over blockchain and NFT limitations in its App Store guidelines.
Bitcoin Hits New Highs
Bitcoin hit a one-week high after MicroStrategy signaled intent to add significantly to its BTC holdings. Tether bought BTC 1,529 worth $45.4 million in Q2, while its Q2 report showed the company had $3.3 billion in excess reserves and the profits increased 30% to over $1 billion. A white hat recovered ETH 2,879 for Curve Finance amid its recent $47-million-heavy hack, while Justin Sun and partners stepped in to save Curve from a potential bad debt crisis.
Regulatory Scrutiny
Google Cloud partnered with Celo Network as a validator while Apple was facing regulatory scrutiny in the US over blockchain and NFT limitations in its App Store guidelines. The central Bank of Korea narrowed down the choices for its CBDC pilot venue to Jeju, Busan, and Incheon, the National Bank of Ukraine requested local crypto firms to file details of their financials , and Genesis Digital Assets announced an expansion of Bitcoin mining in the USA.
Coinbase Plans & Expansion
In Coinbase news, the exchange revealed plans to open mainnet for the public starting August 9, Base attracted millions in ETH ahead of its official launch CEO Brian Armstrong revealed that US SEC requested exchange suspend trading all cryptos except BTC . He said that Coinbase was looking into best ways add Lightning Network platform analysts said that Coinbase was poised better – than – expected Q2 earnings despite ongoing legal pressure .
Exchanges Licenses & Expansion
In general exchanges news , Binance secured operating license Dubai officially entered Japanese market launch Binance Japan . HashKey became first digital asset entity receive license under Hong Kong’s new crypto licensing regime , KuCoin said it would temporarily suspend BTC LTC mining pools until further notice . FTX proposed rebooting exchange offshore customers bankruptcy plan , but Kraken co – founder Jesse Powell voiced concern about FTX 2 . 0 . In legal news , US DoJ was reportedly mulling whether press fraud charges against Binance , FTX filed motion exclude Dubai entity ongoing bankruptcy proceedings US mediation between Genesis creditors set conclude August 16 but deal uncertain bi
In general exchanges news , Binance secured operating license Dubai officially entered Japanese market launch Binance Japan . HashKey became first digital asset entity receive license under Hong Kong’s new crypto licensing regime , KuCoin said it would temporarily suspend BTC LTC mining pools until further notice . FTX proposed rebooting exchange offshore customers bankruptcy plan , but Kraken co – founder Jesse Powell voiced concern about FTX 2 . 0 . In legal news , US DoJ was reportedly mulling whether press fraud charges against Binance , FTX filed motion exclude Dubai entity ongoing bankruptcy proceedings US mediation between Genesis creditors set conclude August 16 but deal uncertain bi