“Circle will go public by way of Concord Acquisition Corp (NYSE: CND), a publicly traded special purpose acquisition corporation (SPAC).
Circle going public puts both members of USDC’s Centre Consortium on the public markets. USDC, the stablecoin jointly administered with Coinbase, has surged in popularity in the stablecoin sector with a circulating supply of nearly $26 billion. A company presentation on the SPAC deal listed an expected USDC circulation of $190 billion by 2023 – sevenfold growth from its current $26 billion.
As we look at what we’re building we just see an incredible opportunity to grow, to grow rapidly and to grow around the world. We’re investing heavily in product development and engineering as blockchain finance becomes the backbone of the global financial system.”
See Also: Circle CEO Says USDC to Take High Road, But It’s a Long Road
See Also: First Midwest Bank Trust Division Holding 29.5K Shares of Grayscale Bitcoin Trust
“The senator, who chairs the Senate Banking Committee’s Subcommittee on Economic Policy, said in a letter to SEC Chair Gary Gensler that she needs answers by July 28.
A lack of common-sense regulations has left ordinary investors at the mercy of manipulators and fraudsters. The SEC must use its full authority to address these risks, and Congress must also step up to close these regulatory gaps.
Warren has long been critical of bitcoin, describing the crypto as “speculative in nature and going to end badly” during a CNBC interview in March.”
See Also: EU to Propose New Agency for Crypto Crackdown
“The Banque de France (BdF) has tested a cross-border central bank digital currency (CBDC) transaction with Singapore, marking the first use of a smart contract-based, automated liquidity pool for the digital EUR/SGD currency pair. It was executed using a permissioned version of Ethereum called Quorum, developed by JPMorgan.
The CBDC automated liquidity pool and market-making service for EUR/SGD currency pairs could be scaled up to support the participation of multiple central banks and commercial banks in different jurisdictions, BdF said. The use of smart contracts automatically managed the EUR/SGD exchange rate in line with real-time market transactions and demands, it said.”
See Also: Crypto usage in Turkey increased elevenfold in a year, new survey shows
“The Graph, a decentralized indexing protocol for querying networks like Ethereum, has launched The Graph Explorer decentralized application (dapp) along with Subgraph Studio. The launch, announced earlier today, fully publicizes curation and finalizes decentralization for The Graph Network.
Hundreds of dapps use The Graph. The Graph surpassed 30 billion queries, or bits of information gathered, in June alone.
The launch of The Graph Explorer dapp and Subgraph Studio allows anyone to deploy and curate subgraphs on Ethereum and earn migration rewards paid in its native GRT token. With subgraphs, users of dapps can be sure the data being provided is decentralized rather than being provided by a third-party indexer.
We believe that permissionless, open curation beats extractive algorithms and centralized decision making every time.”
See Also: Balancer launches stable pools for like-kind swaps
“In recent months we have seen a large increase in U.K. customers becoming the victims of cryptocurrency fraud. Keeping our customers safe is a top priority, so we have decided to prevent payments to Binance following the FCA’s warning to consumers.”
See Also: Fiat-to-crypto onramp Simplex integrates SEPA Instant for European partners
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“Canadian Imperial Bank of Commerce has joined a new blockchain-based marketplace for carbon offsets to help clients balance their emissions with investments in green projects. CIBC has partnered Brazil’s Itaú Unibanco, National Australia Bank, and British banking and insurance company NatWest Group on the new marketplace, which is set to be launched as a pilot next month.
Buying carbon offsets has surged in popularity as a growing number of companies set net-zero targets in response to investor demand for greener assets. However, the strategy has faced criticism over its real-world effectiveness and the transparency of transactions.
CIBC says Project Carbon is built on the private ethereum platform to provide a digital ledger that will record all transactions, record ownership and avoid double counting. The bank expects it will increase investment in green projects by demonstrating demand and communicating the trade sizes and prices of offsets.”
“On Wednesday, platform reviewer DeFi Safety published a report on ShibaSwap, scoring the protocol at just 3%, far below the 70% level the site considers a pass. Describing the score as “a devastating fail,” DeFi Safety failed ShibaSwap on all but two of its 22 review criteria.
The review highlighted ShibaSwap’s anonymous team, lack of transparency and documentation and pointed to the fact there is no public software repository, development history, or way to test the code. Schiarizzi emphasized the risks associated with the staking contract’s migrate function being under the control of a single entity.
Within 24 hours of launching, the protocol had amassed a total value locked (TVL) of more than $1 billion.”
The Disrupt 