We have collected the most important news from crypto industry participants over the week.
- BoA and Wells Fargo have opened up access to spot Bitcoin ETFs for clients.
- The court approved the sale of FTX’s stake in AI startup Anthropic for $1 billion.
- FSC Hong Kong received 24 applications for VASP licenses.
- OKX has launched a cryptocurrency platform in Turkey.
- Circle and Coincheck will expand the use of USDC in Japan.
BofA and Wells Fargo open access to spot Bitcoin ETFs for clients
Bank of America and Wells Fargo are offering clients spot digital gold exchange-traded funds on demand. Writes about this with reference to informed sources Bloomberg.
On February 29, informed interlocutors of CoinDesk reported that Morgan Stanley launched due diligence regarding adding spot Bitcoin ETFs to your brokerage platform.
The publication noted that the emergence of broker-dealers like Morgan Stanley, as well as large RIA networks, will attract more capital to new products.
The court approved the sale of FTX’s stake in AI startup Anthropic for $1 billion
The bankruptcy court of the state of Delaware (USA) approved the sale of FTX’s 7.84% stake in the AI company Anthropic, according to Reuters.
The resolution was preceded by a compromise between the management of the platform going through bankruptcy and a group of creditors who opposed the sale.
In April 2022, Anthropic closed a $580 million Series B funding round led by the crypto exchange.
According to FTX attorney Andy Dietderich, the organization has amassed $6.4 billion in cash.
He recalled that the platform will pay off its obligations to clients in full. The calculations are based on digital asset prices in November 2022, when the exchange filed for bankruptcy.
In January 2024, FTX disposed of 22.3 million GBTC shares worth ~$908 million. As of October 25, 2023, the position was valued at $597 million.
FSC Hong Kong received 24 applications for crypto exchange licenses
Hong Kong Securities and Futures Commission (FSC) received applications from 24 companies to launch a cryptocurrency exchange.
Contenders include OKX, Bybit, Bullish, Crypto.com, Matrixport HK and Gate. The deadline for submitting documents expired on February 29. Platforms that fail to comply with this requirement are required to cease operations in Hong Kong by the end of March.
At the time of writing, the license holders were HashKey and OSL.
On February 27, HTX (formerly Huobi) withdrew the application.
OKX launched a cryptocurrency platform in Turkey
OK announced about the launch of a branch in Turkey – the new cryptocurrency exchange was named OKX TR.
The structure offers the possibility of making a deposit and using Turkish Lira for trading in cooperation with local banks.
The platform will host the main cryptocurrency pairs with the national currency, such as USDT, Bitcoin and Ethereum, as well as “advanced functionality”. The company also highlighted the availability of OKX Wallet, a non-custodial Web3 wallet provided by OKX Global for local users.
According to CoinDesk, the development of local legislation in the field of digital assets is “in its final stages.” New rules will oblige crypto platforms obtain licenses from the Turkish Capital Markets Board.
In February 2024 OKX launched in Argentina as part of its ongoing strategy to target the Latin American market after opening a branch in Brazil at the end of 2023.
Starting March 30, OKX will stop providing services to users in Uzbekistan.
Circle and Coincheck will expand the use of USDC in Japan
Circle announced a partnership with the Japanese crypto exchange Coincheck, which integrates the company’s products for its users, including USDC.
The initiative is subject to Coincheck obtaining registration as an Electronic Payment Instrument Provider under the local Payment Services Act.
In July, Circle co-founder and CEO Jeremy Allaire announced the launch of a stablecoin in Japan.
Key indicators of the DeFi segment
The volume of blocked funds (TVL) in DeFi protocols jumped to $91.3 billion. The leader was Lido with $33.9 billion. Aave ($10 billion) moved to second from third place. In third place was the EigenLayer project ($9.77 billion), which displaced Maker ($9.2 billion) to fourth position.
Data: DeFi Call.
TVL in Ethereum applications increased up to $53.1 billion Trading volume on decentralized exchanges (DEX) over the last 30 days made up $89.7 billion.
Uniswap continues to dominate, accounting for 57.1% of total turnover. The second DEX by trading volume is PancakeSwap (17.5%).
Also on ForkLog:
What to read this weekend?
On February 27, a lawyer for FTX founder Sam Bankman-Fried (SBF) asked the court to impose a sentence of 63 to 78 months in prison for his client. The media reported that 29 letters of support were sent to SBF, including from his family members and his cellmate. Read more in ForkLog materials.
Subscribe to ForkLog on social networks
Found an error in the text? Select it and press CTRL+ENTER
ForkLog newsletters: keep your finger on the pulse of the Bitcoin industry!
2024-03-02 16:03:02
#TVL #DeFi #protocols #grew #billion #FTX #sell #stake #Anthropic #crypto #industry #events
