Ubyx, a new stablecoin clearing platform that aims to jumpstart stablecoin adoption by enabling redemption at face value, has closed a $10 million seed funding round backed by several major crypto investors. The funding round was led by Galaxy Ventures, with participation from Coinbase Ventures, Founders Fund, VanEck, Paxos and others, according to a Tuesday…
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Strategy has acquired $110.2 million worth of Bitcoin as the price trades near its all-time high level. According to a June 9 US Securities and Exchange filing, Streategy acquired 1,045 Bitcoin (BTC) at an average price of $105,426 per coin. The company now holds 582,000 BTC acquired for approximately $40.79 billion at an average price…
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The Monetary Authority of Singapore (MAS) has shed light on its Digital Token Service Providers (DTSPs) regime, following widespread panic in the industry over a potential ban on crypto firms serving overseas clients In a June 6 announcement, MAS reiterated that starting June 30, crypto firms “providing services solely to customers outside of Singapore relating…
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The United Kingdom’s Financial Conduct Authority (FCA) has proposed lifting its ban on offering cryptocurrency exchange-traded notes (ETNs) to retail investors. In a June 6 announcement shared with Cointelegraph, the FCA said the proposed change would allow individual consumers to access crypto ETNs, provided they are listed on an FCA-recognized investment exchange. “We want to…
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Pakistan Minister of State for Crypto and Blockchain Bilal Bin Saqib is likely looking to collaborate with Wall Street. A June 6 X post by the Pakistan Crypto Council shows that Saqib met with Brandon Lutnick, the chairman and CEO of Cantor Fitzgerald, a global financial services firm. A separate video included in a separate…
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Trump Media and Technology Group, the company majority-owned by US President Donald Trump that runs his Truth Social media platform, filed with the US Securities and Exchange Commission (SEC) to launch a Bitcoin exchange-traded fund (ETF). TMTG filed an initial registration statement on Form S-1 for its Truth Social Bitcoin (BTC) ETF on June 5,…
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South Korean entertainment company K Wave Media has entered into a securities purchase agreement worth up to $500 million to fund a Bitcoin-centric crypto treasury strategy. According to a June 4 announcement, the firm said it reached a deal with Bitcoin Strategic Reserve KWM for the sale of ordinary shares. The deal includes the company’s…
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India-serving but Singapore-based crypto exchange WazirX is moving its operations to Panama after local courts declined to approve the firm’s restructuring plan. In an email sent to its users, WazirX shared recent redacted legal documents outlining the move. One of the documents revealed that WazirX’s parent company, Zettai, will move to Panama and rebrand. “Zettai…
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Bitcoin mining company Cango produced nearly $100.5 million worth of Bitcoin in the two months following its full pivot to crypto mining, the company announced on June 3. Cango mined 954.5 Bitcoin (BTC) after going all-in on mining. Of the total haul, 470 BTC were mined in April and 484.5 BTC in May. This follows…
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Malikie Innovations, a firm that acquired tens of thousands of patents from BlackBerry in 2023, has sued major Bitcoin mining firms Marathon Digital and Core Scientific for using the Elliptic Curve Cryptography (ECC) employed by the Bitcoin blockchain, which it claims to own. The cases against Marathon Digital Holdings and Core Scientific follow Malikie Innovations’ acquisition of 32,000 “non-core” patents from…
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