Friday June 17, 2022
◾ Three Arrows Capital (3AC) failed to meet a margin call from BlockFi causing the crypto lender to liquidate some of 3AC’s positions. (FT)
◾ Elon Musk told Twitter (TWTR) employees that “it would make sense to integrate payments into [the platform] so it's easy to send money back and forth." (Fortune)
◾ Circle announced plans to issue a fully-reserved, euro-pegged stablecoin called Euro Coin (EUROC) by the end of the month. (Cision)
Government & NGO Actions
◾ State regulators in Texas, Alabama, Kentucky, New Jersey, and Washington are investigating Celsius’ decision to freeze customer accounts. (Reuters)
◾ Panama’s President has vetoed a law that would have regulated digital currencies following up on a promise he made saying the law would need to comply with FATF recommendations before it was approved. (Cryptopotato)
◾ Russia’s central bank governor Elvira Nabiullina remains opposed to the use of digital currencies for domestic payments but said she would support their use for cross-border payments. (Cointelegraph)
◾ Kazakhstan plans to allow digital currencies exchanges to have bank accounts if they are operating in an economic zone. (Bitcoinist)
◾ Treasury Secretary Janet Yellin met with the CEOs of several Wall Street Banks to discuss the global economy and “the need for responsible innovation in digital assets.” (Fortune)
◾ IMF researched have published a paper discussing the main components and technological options that determine the energy profile of digital currencies. (IMF)
◾ The US Air Force will manage efforts to equip and repair forward-deployed forces using a blockchain. (Simbachain)
◾ The Institute of International Finance, the association representing the global financial services industry, responded to a European Commission consultation request suggesting that before determining technical details of a CBDC, the EC should first determine whether or not it should issue a digital euro. (Coindesk)
Public Company Releases
◾ CleanSpark (CLSK) has taken over an existing purchase contract for bitcoin mining equipment and accept the new rigs with 252 PH/s in capacity by the end of the Summer. (CleanSpark)
◾ Mawson Infrastructure Group (MIGI) mined 185 bitcoin in May operating its self-mining and co-location facilities at a production capacity of 3.1 EH/s. (Businesswire)
◾ Ebang International (EBON) intends to obtain a Money Service Operator License from the Hong Kong Customs and Excise Department allowing the crypto mining equipment manufacturer to operate a money changing service and/or a remittance service in the Chinese administrative region. (Streetinsider)
◾ Bakkt Holdings (BAKKT) is joining the Russell 3000® Index (RUA), an index comprising of the top 3,000 US publicly traded companies ranked by market capitalization, on June 27th. (Bakkt)
Protocols, Applications & Business News
◾ Russian oil producer Gazprom Neft has partnered with bitcoin miner BitRiver to develop flared-gas mining facilities at new oil fields. (Coindesk)
◾ A lawsuit has been filed accusing Elon Musk, SpaceX and Tesla (TSLA) of racketeering in an effort to inflate the price of Dogecoin (DOGE). (Bloomberg)
◾ DCG’s mining subsidiary, Foundry Digital has been included in Fortune’s 2022 list of Best Workplaces in New York. (Cision)
Metaverse Briefings & Activations
◾ McKinsey has released a report on “Value Creation in the Metaverse” suggesting investment in the digital space will reach $120 billion this year growing to $5 trillion by 2030. (McKinsey)
◾ Singer Charli XCX is holding a concert in the metaverse tonight at 7PM EST on Roblox. (Pitchfork)
Market Data
◾ Bitcoin’s hashrate dropped 21.5% over 24-hours to a one-month low of 184 EH/s . (Bitinfocharts)
◾ The discount to NAV for Grayscale’s Bitcoin Trust (GBTC) has reached a new high at 33.7%. (Grayscale)