1. BlackRock has purchased over $750 million in ETH this month.
Arkham officially states that BlackRock has purchased more than $750 million in ETH in June without selling any. - Original
2. Visa expands stablecoin coverage in partnership with African exchanges.
The company has also established a strategic partnership with the African cryptocurrency exchange Yellow Card. - Original
3. Revolut explores issuing stablecoins and negotiates partnerships with crypto companies.
London's new bank Revolut is actively exploring the issuance of its own stablecoin. Sources reveal that Revolut has engaged in discussions with at least one crypto-native company. In recent years, with changes in the regulatory environment in the US and globally, more non-crypto companies are considering issuing stablecoins. Revolut currently has over 55 million retail customers and 500,000 business customers across 160 countries. - Original
4. Nauru establishes a virtual asset management authority, striving to become a crypto hub.
The Republic of Nauru has passed legislation to establish a dedicated regulatory agency for digital assets, marking an important step for the Pacific region in embracing Web3 and virtual finance. The new agency is named Command Ridge Virtual Asset Management Authority (CRVAA) and will be responsible for regulating virtual asset service providers and helping the island nation become a hub for digital asset activities. CRVAA will operate as an autonomous entity managing licensing, supervision, and compliance related to digital banking, token issuance, crypto trading platforms, wallets, and decentralized finance platforms. Note: Command Ridge is the name of Nauru's highest peak and also a geographical indicator of the island. - Original
5. Plasma plans to launch the mainnet in late summer to optimize stablecoin transactions.
Plasma is preparing to launch its mainnet in 'late summer', a blockchain specifically optimized for stablecoins. Plasma founder and CEO Paul Faecks stated that this blockchain will support 'the largest scale of stablecoins' at launch, based on its internal data. Faecks added, 'We are building a blockchain to be the best product for moving stablecoins from point A to point B. Everything around it must serve this goal, otherwise it is not worth doing for us.' - Original
6. Police remind of the risks of virtual currency trading; investment and wealth management are mostly fraud.
The Ministry of Public Security's website published (20 anti-fraud keywords from public security agencies), which indicated that the Criminal Investigation Bureau of the Ministry has analyzed recent electric fraud cases and summarized 20 anti-fraud keywords, including 'virtual currency', 'repairing credit', 'unknown links, QR codes', and 'aiding and abetting behavior'. It stated that the current use of virtual currency for money laundering has become a common method for criminals to commit fraud and transfer funds. Fraudsters often set up fake platforms under the guise of 'virtual currency investment and wealth management' to lure victims into investing and masquerade as 'currency merchants' to guide operations, thus defrauding money. The police particularly remind that virtual currency transactions are not legally protected, and so-called 'virtual currency investment and wealth management' is mostly fraud. - Original
7. Galaxy CEO states that stablecoin legislation will attract traditional financial institutions to enter the market.
Billionaire, Galaxy founder and CEO Michael Novogratz stated in a Bloomberg TV interview on Wednesday that after the passage of milestone stablecoin legislation, more traditional financial institutions will be attracted to enter the cryptocurrency market. He indicated that he anticipated institutions would eventually enter the market when he founded Galaxy in 2017, and this trend is now evident. Novogratz looks forward to the stablecoin legislation being implemented and hopes for subsequent market structure legislation to further promote the integration of traditional finance with cryptocurrency technology. Additionally, he revealed that we will see tokenization of equities in both cryptocurrency and non-cryptocurrency fields, and his company will collaborate with various parties to provide white-label and customized solutions. - Original
8. South Korea develops roadmap for Bitcoin spot ETF; policy direction is positive.
The South Korean Financial Services Commission is developing a roadmap to launch a Bitcoin spot ETF. - Original
The above are the highlights from the past 24 hours; for faster news, please download AiCoin (aicoin.com).
