eBay’s NFTs, Yield on Ledger, Axie Infinity’s Ronin Bridge Reopens, Celebrity Crypto Scams + More News

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Linas Kmieliauskas

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Linas Kmieliauskas

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Last updated: 

June 26, 2023

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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.

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NFTs news

• Ecommerce giant eBay submitted two new trademark applications to the US Patent and Trademark Office (USPTO) on June 23, indicating plans related to NFTs, including exchanges, marketplaces, and trading, as well as online retail stores with virtual goods. The news was first tweeted by USPTO licensed trademark attorney Mike Kondoudis. The applications can be found here and here.
• Interoperability NFT protocol Holograph announced a partnership with fellow interoperability protocol LayerZero to deliver its bridging solution to create so-called “multichain NFTs”.

DeFi news

• Liquidity network Alkemi announced that their lending product Alkemi Earn will be integrated into the crypto wallet Ledger Live’s Discover section. Ledger Live users can earn a yield on their assets through DeFi lending and borrowing through this integration, they said.
• Digital asset prime brokerage and exchange BEQUANT announced the addition of DeFi access for institutional clients, realized through its recent integration with blockchain firm Fireblocks. Clients will be able to cross-margin between centralized and decentralized exchanges, with DeFi marketplaces integrated onto BEQUANT’s platform, they said.

Gaming news

• Ronin (RON), Ethereum (ETH) sidechain built specifically for the play-to-earn game Axie Infinity (AXS), announced the reopening of its Ronin Bridge after it was halted following a major hacking incident in March this year. “All user funds are fully backed 1:1 by the new bridge. All users have been made whole,” they added.

Crime news

• The Santander UK bank warned about “celebrity-endorsed” crypto scams, stating that, per their data, the average value of scam in Q1 2022 was GBP 11,872 (USD 14,504) up 65% year-on-year, and there was a 61% increase in case volumes from Q4 2021 to Q1 2022. Based on current growth, Santander expects an 87% increase in volume of cases in 2022 compared to 2021.
• The funds from cross-chain bridge provider Harmony’s Horizon Bridge hack have begun to move into the Tornado Cash ether mixer, which may mean that the attacker has no intention of accepting the USD 1m bounty offered.
• The US Department of Justice charged Dominic Pineda and Shon Morgan with conspiracy to commit robbery in May 2020, by participating in a plan to break into a home in New York, USA, and rob its residents of cash and bitcoin, which the defendants believed to be worth tens of millions of dollars. The crime carries a maximum term of 20 years in prison.

Investments news

• Crypto exchange FTX is exploring whether it might be able to acquire app-based brokerage Robinhood Markets Inc, Bloomberg reported, citing undisclosed people with knowledge of the matter. No final decision has been made and FTX could opt against pursuing a deal, it added.
• Institutional digital assets data provider Kaiko raised USD 53m in a Series B funding round led by Eight Roads. The proceeds of the funding will be used to expand Kaiko’s global presence, they said.
• Web3 network peaq raised USD 6m in a seed funding round led by Fundamental Labs. The funds will primarily be used to grow the development team, they said.
• Decentralized betting project Azuro announced that it raised USD 4m in a recent funding round, bringing the total raised to USD 7.5m.
• Alternative investments solution company Accelerate Financial Technologies announced that it will launch the Accelerate NFT Fund on July 29, which is meant to provide investors with “secure and diversified exposure” to the NFT market.

Exchanges news

• Aurore Lalucq, a French member of the European parliament’s Committee on Economic and Monetary Affairs, has urged Autorité des Marchés Financiers, the French markets regulator, to review its ruling that approved crypto exchange Binance to operate within the country, per the Financial Times. She described the agency’s decision as “incomprehensible”.
• KuCoin announced it will offer euro trading pairs against bitcoin (BTC), ethereum (ETH), and tether (USDT) as part of its expansion in the European market, with the new pairs to become available on the KuCoin spot market starting June 28.

Economics news

• Christine Lagarde, President of the European Central Bank (ECB), has reaffirmed that the bank intends to raise its three key interest rates by 25 basis points at the next meeting on July 21, and they still expect to raise the rates again in September.

Adoption news

• Faustin-Archange Touadéra, president of the Central African Republic, stated that the government intends to launch the previously announced Sango blockchain program, which aims to tokenize the country’s natural resources, during an event on July 3.

Taxes news

• Russian lawmakers approved a draft law that would potentially exempt issuers of cryptoassets from value-added tax, Reuters reported. It would also establish tax rates on income earned from the sale of digital assets. The current rate on transactions is 20%, the same as for standard assets. Under the new law, if approved, the tax would be 13% for Russian companies and 15% for foreign ones.

Mining news

• The TON blockchain project announced that the last of its Toncoin has been mined, marking the end of the initial token distribution phase. After this mining era, the only way to earn new coins is by staking TON, they added.