2 June

This is the first cryptocurrency ETP to be made available for trading on the U.K. market.

So far, the U.K. has been taking a cautious approach to approving crypto products. In January the Financial Conduct Authority banned the sale of derivatives and exchange-traded notes describing the products to be ill-suited for retail consumers due to the potential harm they pose.

Earlier today ETC Group listed two exchange-traded commodities, the BTCetc – ETC Group Physical Bitcoin and the ETHetc – ETC Group Physical Ethereum on the Euronext stock exchanges in Paris and Amsterdam.”

Coinbase’s Visa debit card will sync with Apple Pay and Google Pay, the crypto exchange said Tuesday. Additionally, Coinbase said in a blog post it will begin offering cash-back spending reward features to waitlisters this week. The card is available across the U.S.; a variation rolled out in European markets in 2019.

Competition for crypto payments is picking up. Mastercard and Gemini are preparing to unveil a crypto credit card with 3% bitcoin returns. And BlockFi, too, has a rewards-fueled crypto credit card in the works.”

Bitcoin’s longer-term puts, or bearish bets, are drawing stronger demand than calls for the first time this year, a sign the recent sell-off has taken a toll on market confidence.

According to data provider Skew, the six-month put-call skew, which measures the relative expensiveness of puts and calls, crossed above zero on May 17, indicating a bias for puts. The metric has remained positive ever since, and was hovering at 4% at press time.

Some technical analysts foresee a short-term price bounce. That’s not reflected in the options market. The one-week, one-month and three-month put-call skews are signaling a put bias with positive prints.”

See Also: Bitcoin Crash Pushes Some Institutional Investors to Reconsider Gold: JPMorgan

Makara, a crypto robo-advisor registered with the U.S. Securities and Exchange Commission (SEC), has launched to its 20,000-strong waitlist. The app is the first SEC-registered crypto robo-advisor.

The app will offer six “thematic baskets” of assets built around different investment appetites that clients may have. The baskets include ones specifically weighted to bitcoin, ethereum and decentralized finance (DeFi). Makara is partnering with Gemini to handle the buying, selling and storing of the underlying assets.”

DeFi projects are starting to get creative with their outreach and marketing strategies. It’s all part of a broader effort to make DeFi more accessible, understandable and welcoming.

Uniswap announced on Tuesday a collaboration with esports group Team Secret. Team Secret said that it will be “developing exclusive content and esports activations” for the Uniswap community, as well as helping Uniswap reach a new user base.

The first time in history a DAO sponsors an esports team? Won’t be the last.

Earlier on Tuesday, DeFi tracking and management platform Zapper unveiled a “quest” reward system for users to try out various features. The current daily quest is to open the website, while weekly quests focus on adding/removing liquidity from protocols and making asset swaps. Completing the quests grants users experience, which can eventually be used to “level up” and earn nonfungible tokens (NFTs).

The initiatives from Uniswap and Zapper demonstrate that projects are going on the offensive to find users. Protocols like Uniswap, in particular, have massive token treasuries that can be deployed, as well as a community of decentralized autonomous organization (DAO) participants who can recommend initiatives.”

The European Union is falling behind China and the United States when it comes to blockchain and artificial intelligence investments, according to the European Investment Bank. The EIB said on Tuesday that it anticipates an ongoing investment shortfall of around 10 billion euros ($12 billion) across both technologies.

China and the U.S. currently account for 80% of the global $25 billion invested in blockchain and AI, with the EU making up just 7% of that figure.

The bank said the underinvestment in both sectors compared to other regions was a sign that the EU has failed to translate scientific knowledge into applicable business models. The bank said extra funding from private markets would be required if the EU intended to keep pace with global competitors.”

Disruption to the value of stablecoin tether could be cataclysmic for the wider crypto market, according to Former Commodity Futures Trading Commission (CFTC) Chairman Timothy Massad. In the crypto market, a stablecoin like tether – the value of which is pegged to the U.S. dollar – is the equivalent of a money market fund and investors should be concerned about the possibility of its value also falling below $1, according to Massad.

With the majority of tether’s backing not being in the form of fiat currency, Massad said holders of USDT are ‘on notice that they may have trouble getting back $1 for each token.’

Regulation of stablecoins must be strengthened, according to Massad. He referred to a bill introduced in Congress in December that would require stablecoin issuers to follow the same regulations and conform to the same standards as banks.”

See Also: Federal Regulations Are Coming Into Focus
See Also: Thai SEC Warns DeFi Transactions Could Be Subject to Applicable Licensing Law

“Candy Digital, a new sports non-fungible token (NFT) company backed by some heavy hitters including Galaxy Digital, has teamed with Major League Baseball (MLB). Candy will build an MLB ecosystem to buy, trade and share officially licensed baseball content NFTs.

The first NFT launched will be of Lou Gehrig’s “Luckiest Man” speech, delivered July 4, 1939, at Yankee Stadium in New York after the Hall of Fame first baseman’s forced retirement due to being diagnosed with ALS.”