08 Jun 2021 · 3 min read
Crypto Ransomware at G7, Bottlepay's Bitcoin Offer, MicroStrategy's Move + More News
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
- "So one of the things we’d like to see out of the G7 is the start of an action plan that covers a number of critical areas," which includes "how to deal with the cryptocurrency challenge," which lies "at the core" of how ransomware transactions are played out, Jake Sullivan, US President Joe Biden’s National Security Advisor, said during a press briefing yesterday. (Learn more: New Crypto FUD Round Incoming as US Gunning for Ransomware Crackdown)
- The Internal Revenue Service needs more authority from Congress to regulate the cryptocurrency industry and require more reporting on its users, Bloomberg reported, citing Commissioner Charles Rettig.
- The Lightning Network-powered payments app Bottlepay said that, today, it is rolling out across Europe, allowing users across the continent to make cross-border payments using euros and bitcoin (BTC). "Bottlepay users can transact with as little as a penny, or send funds where the recipients will receive 100% of the payment," they said in an emailed announcement.
- A four-bedroom penthouse on Miami Beach sold for USD 22.5m, paid for entirely in cryptocurrency, a report on Forbes.com said, adding that the buyer and the specific cryptocurrency remain anonymous due to confidentiality agreements.
- The Ontario Securities Commission (OSC) claims that KuCoin is "accountable for disregarding Ontario securities law." "KuCoin is subject to Ontario securities law because crypto asset products offered on the KuCoin Platform are securities and derivatives. KuCoin has nonetheless failed to comply with the registration and prospectus requirements under Ontario securities law," the OSC said.
- The Hong Kong Monetary Authority has announced more research into both retail and wholesale central bank digital currencies (CBDCs). The study will be looking at the use cases, benefits, and related risks of a Hong Kong Dollar CBDC, while the authority is collaborating with the People’s Bank of China to support the technical testing of their own CBDC.
- MicroStrategy has boosted the size of a junk-bond sale to fund the purchase of more BTC by USD 100m, now targeting USD 500m, Bloomberg reported, citing a person with knowledge of the matter.
- Blockdaemon, a blockchain infrastructure platform, said it has closed USD 28m in its Series A funding round, led by Greenspring Associates, with participation from Goldman Sachs, BlockFi, Warburg Serres, Uphold, Voyager Digital Ltd., Illuminate Financial, Hard Yaka, and existing investors. Per Konstantin Richter, CEO of the company, this round will enable them to expand their node infrastructure services, increase their team, and strengthen their presence in emerging markets.
- Tim Wu, one of US President Joe Biden's technology advisers and anti-trust experts, reportedly holds USD 1m - USD 5m in BTC, according to Politico. This holding is the largest in his financial portfolio, and he also has USD 100,000 - USD 250,000 in filecoin (FIL), but due to his financial interest in cryptoassets, he cannot advise on these matters, an unnamed White House official said.
- Revolut said it has added support for dogecoin (DOGE) to their app, as part of their new crypto launching program called Token Tuesdays. Users will be able to buy the coin once their app is updated to the newest version with a 3% fee for both purchasing and selling.
- Crypto fund BlockTower Capital has completed the purchase of rival fund Gamma Point Capital, although the terms remain undisclosed, per Bloomberg. Gamma specialized in using hedging to make a profit regardless of the market sentiment.
- A non-fungible token (NFT) campaign launched by Binance will be showcasing 100 creators of the assets from all around the world, according to a press release. The campaign will be invite-only and will start on June 24, at the same time the Binance NFT Marketplace, the exchange’s own platform for these assets, launches.
- Tech and e-commerce giant Amazon is looking for a Blockchain Head of Product for their Amazon Managed Blockchain (AMB) service, according to a job posting. AMB is a fully managed service that accelerates customers' ability to create and leverage scalable blockchain for business use cases across decentralized finance (DeFi), supply chain, financial services, identity, and others. The selected person would be in charge of the service and its further growth, so someone with significant experience with blockchain frameworks and technology is preferred, as well as in applications including Ethereum (ETH) and Hyperledger Fabric.
- Hunter Merghart, head of the crypto exchange Bitstamp's US department, said he's leaving this position to join early-stage crypto fund Castle Island Ventures. His new position will be Executive in Residence and Venture Partner, which will allow him to explore the investor and entrepreneur side of crypto more closely, he said.
(Updated at 16:56 UTC with a paragraph about MicroStrategy.)