Institutions continue to reduce their BTC exposure despite price recovery

Investments in institutional Bitcoin products continued to decline over the past week. In his July 26th Digital asset capital flows reported, CoinShares notes that institutional crypto products have seen outflows for the third straight week, with $ 28 million exiting the sector in the week ending July 23rd. The results showed that Bitcoin-based funds saw …

Tether promises an exam in “months” as Paxos claims USDT is not a true stablecoin

According to the project’s General Counsel, there will be an official review of the world’s most popular stablecoin, Tether, within months. An audit for the world’s third largest digital asset has been expected for several years, and increasing regulatory pressures appear to have accelerated the process. In a rare mainstream media interview on CNBC, Tether …

Binance is burning BNB tokens worth $ 390 million

Major cryptocurrency exchange Binance has completed its 16th quarterly Binance Coin (BNB) burn, destroying over $ 390 million worth of BNB. On July 18, Binance reported that it had destroyed 1,296,728 BNB tokens valued at just under $ 400 million at the time. The exchange found another 5,163 BNB destroyed by its Pioneer Burn program …

The high profile co-founder of Ethereum is giving up crypto because of security concerns

Ethereum co-founder Anthony Di Iorio has announced his intention to leave the crypto industry and has raised concerns about his personal safety. According to a July 17 report by Bloomberg, Di Iorio plans to sell his digital asset firm Decentral and cancel all other crypto projects he is currently involved in in the crypto sector: …

Cryptocurrency crackdown on USD access points has begun: Caitlin Long

Caitlin Long, the founder and CEO of the pioneering crypto-sector bank, Avanti Bank & Trust, has stated that the regulatory crackdown on crypto has “begun”. In a long tweet on July 13, the Wall Street veteran highlighted her thoughts on the current regulatory situation in the US and predicted that the authorities will not target …

UBS warns regulators that “bubble-like crypto markets” could emerge

Multinational Swiss investment banking giant UBS has warned clients that crypto assets may be unsuitable for professional investors if regulatory pressures persist. In a statement to clients last week, UBS’s global wealth management team said China’s recent crackdowns have harmed crypto prices and operators, warning that further regulatory setbacks around the world could add downward …

Wyoming legally recognizes the first DAO in the United States

The crypto-friendly state of Wyoming has approved the first legally recognized Decentralized Autonomous Organization (DAO) in the United States. The American CryptoFed DAO received a notice from the Wyoming Secretary of State on July 1st recognizing it as a legal entity, according to an announcement made on July 4th. Marian Orr, CEO of the American …