25 June

“Institutional bitcoin shop NYDIG has partnered with Texas fintech firm Q2 to provide bitcoin access to Q2’s 18.3 million users. Q2 is a behind-the-scenes player providing online banking software to over 450 small and medium-sized banks and credit unions.

The partnership with NYDIG will allow Q2’s institutional partners to provide their customers with access to buy, sell and hold bitcoin through their bank accounts. Q2’s decision to partner with NYDIG was based on client demand.

The work we will do together will be key to making bitcoin as easily accessible as possible through the incumbent financial institutions, enabling the continued growth of the Bitcoin network.”

See Also: Citi Launches ‘Digital Assets Group’ Within Wealth Management Division

“Bitcoin (BTC) price received a boost as news that lawmakers in Paraguay plan to present a bill to make BTC legal tender spread across Twitter. Traditional markets also rose to new highs after U.S. President Joe Biden revealed that he had reached an agreement on a $953 billion bipartisan infrastructure spending plan with the Senate.

While traders’ sentiment may have improved slightly, investors could be waiting for the $6 billion in Bitcoin and Ether (ETH) quarterly futures and options to expire on June 25 before making a more decisive move.”

Adams, who leads his party rivals in every borough across the city with the exception of Manhattan, has campaigned on promises to fight the city’s crime and promote its economic prosperity.

We’re going to become the center of life science, the center of cybersecurity, the center of self driving cars, drones, the center of bitcoins.”

FTX said buyers and sellers in permitted jurisdictions will be able to trade about 55 free-floating stocks. Stocks of Facebook, Google, Netflix, Nvidia, PayPal, Square and Tesla are among those available.

The tokenized stocks are available for trading now on FTX. Switzerland-based Digital Assets (DAAG) is providing the stock infrastructure. The stocks will run on the Solana blockchain.”

See Also: Coinbase unveils ‘Solidify’ tool to auto-audit smart contracts and DeFi clones

One of Ethereum’s most anticipated updates, the London update, has been activated on the Ropsten testnet. The London update includes five Ethereum Improvement Proposals (EIPs), with EIP 1559 being the most significant.

The update will be implemented on the Goerli testnet on June 30.”

See Also: Ethereum 2.0 Merger Spec Finalized
See Also: Notes from the EF’s Research Team AMA (Recommended Read)

The “soft rug” is when a project’s founders simply dump their own tokens and exit the venture instead of taking control of users’ assets. In some cases, a soft rug is more insidious, with developers going out of their way to build trust and a false sense of security at the same time, attempting to disguise the dumping of tokens.

There have been a couple of incidents in the DeFi scene over the past week where soft rug exit scams have been alleged.

The team from Polywhale, a Polygon-based yield farming project, announced that it would be ceasing work on the platform in a Reddit post on Sunday. Two days later, it was discovered by token holders that the project’s treasury wallet had been emptied. The Defiant reported on another claimed soft rug involving Swipe, which developed Binance Smart Chain’s third-largest protocol, Venus.”

“Six of the world’s biggest banks endorsed a new platform for international payments set for launch in November 2022 by SWIFT. Citi, Bank of China, BNP Paribas, Deutsche Bank, BNY Mellon and Standard Chartered plan to use the new platform.

The new platform is set to include features such as upfront validation of beneficiary details, extension of SWIFT’s high-speed system to lower-value payments and incorporation of the universal messaging standard for international payments, ISO 20022.

There have been suggestions that SWIFT could be made redundant by growth in use of digital currency – be it crypto, stablecoins or central bank digital currencies.”

Official Cowards, Financial Scatology & Precursors to Hyperinflation