Day: June 12, 2023

HSBC Unveils HSBC Innovation Banking with Expertise Help from Its Silicon Valley Bank UK (SVB UK)

The HSBC Innovation Banking unit has more than 650 employees in the UK, over 40 members in the U.S., and hiring more in Hong Kong and Tel Aviv. HSBC Holdings PLC ADR (NYSE: HSBC), a British universal bank and financial services group with more than $10 trillion in assets under custody (AUC), has launched a new banking tech unit dubbed HSBC Innovation Banking with the help of expertise from former Silicon Valley Bank UK (SVB UK). Closer Look at the HSBC Innovation Banking Unit According to the announcement, the primary…

21Shares Introduces ETP for Liquid Staking Platform Lido

Liquid staking enables users to maintain liquidity, despite locking their cryptocurrency to earn rewards for securing the blockchain network. Lido, the dominant liquid staking player, has more than $13 billion ETH staked, commanding a 76% market share of liquid staking derivatives on Ethereum, data from blockchain analytics firm Nansen show. Source

IoTeX releases W3bstream’s Devnet, reducing development time and cost by 10X 

IoTeX has unveiled W3bstream’s Devnet, providing developers with tools and infrastructure to build Decentralized Physical Infrastructure Networks (DePIN) applications.  This release reduces development costs and go-to-market time, enabling developers to connect smart devices to any smart contract, benefiting users. With W3bstream, developers can create mobility, energy, sensor, artificial intelligence (AI) computing, and wireless networks, among other data-driven dapps.  IoTeX is a web3 project offering services that empower developers to build social-impact DePIN dapps, rewarding users for their actions or incentivizing specific behaviors.  W3bstream boosts the DePIN sector, poised to reach around…

US court dismisses BitGo’s claims in $100M lawsuit against Galaxy Digital

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The Delaware Court of Chancery in the United States has granted a motion from crypto investment firm Galaxy Digital largely dismissing digital asset custodian BitGo’s case following a dropped acquisition of the firm in 2022. According to court documents filed on June 9, Vice Chancellor J. Travis Laster dismissed BitGo’s complaint against Galaxy Digital with prejudice. The decision followed Galaxy dropping its decision to acquire BitGo in August 2022 as part of a $1.2-billion deal after extensive efforts, citing a breach of contract. BitGo subsequently filed a lawsuit against Galaxy…

Tether to start bitcoin mining in Uruguay; Tradecurve, a DeFi platform, will be available globally

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The issuer of Tether (USDT), the world’s most popular stablecoin, is setting up an operation to mine bitcoin (BTC) in Uruguay. This marks the first significant move by Tether into mining and is part of a larger push to provide broader access to crypto services.  This comes when Tradecurve, a decentralized finance (DeFi) project in its presale phase, announced that its anonymous trading platform would soon be available globally. >>Buy TCRV tokens now<< Tether to start…

Is Ron DeSantis good for crypto? Republican makes Bitcoin part of campaign

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Florida Governor Ron DeSantis officially entered the United States presidential race on May 24.  During a Twitter broadcast hosted by venture capitalist David Sacks, DeSantis pledged to lead a “Great American Comeback,” provoking accusations of plagiarism from ex-President and fellow 2024 presidential candidate Donald Trump. Among topics like U.S. immigration policy and the supposed prevalence of “critical race theory,” DeSantis gave significant attention to cryptocurrency during his hour-long presentation. He promised to protect “the ability to do things like Bitcoin” and fight the “central planners” at Capitol Hill. Ron DeSantis…

Robinhood’s Crypto Trading Volume Falls 68% to $2.1B in May

Just last week, Robinhood delisted three tokens as part of its regular review, leaving only 15 cryptocurrencies available for trading on the platform, the company said. The delisted tokens, Cardano’s ADA, Polygon’s MATIC, and Solana’s SOL, were named as securities by the U.S. Securities and Exchange Commission (SEC) in recent lawsuits against Coinbase (COIN) and Binance. Source