Crypto Market Highlights June 29, 2022

Crypto Market Highlights: General News

  • Luxury Watch Brand Breitling Accepts Bitcoin For Purchases. Breitling has entered into a partnership with BitPay, one of the world’s largest providers of cryptocurrency payment services, to allow customers to purchase its wristwatches and straps using crypto, the payment provider announced on June 28. According to the luxury watchmaker’s website, BitPay supports payments made in Bitcoin (BTC), Bitcoin Cash (BCH), Dogecoin (DOGE), Ethereum (ETH), Litecoin (LTC), Wrapped Bitcoin (WBTC), and 5 stablecoins: Binance USD (BUSD), Dai (DAI), Gemini Dollar (GUSD), USDP, and USD Coin (USDC).
  • Top Employees Of Babel Finance Leave The Company As Client Funds Remain Frozen. One is Yulong Liu, head of global partnerships, who plans to leave by the end of this month or early next month, according to a person familiar with the situation. Liu frequently represented Babel at public events and spoke last month when the firm raised $80 million at a $2 billion valuation. He recently updated LinkedIn to say he left Babel this month and has since deleted his profile.
  • New York Community Bank Will Custody USDC Reserves. New York Community Bank (NYCB), a New York-based community bank with branches in New Jersey, Florida, and Ohio, will act as custodians for some project assets collateral storage behind the stablecoin USD (USDC) of Circle. In addition, the two companies will also work on low-cost financial solutions for underserved and unbanked communities. The partnership is part of Circle’s efforts to bring underrepresented financial institutions into the cryptocurrency market and allocate a portion of its reserves to minority-owned depository institutions (MDI).
  • Customers of Brazil’s Largest Digital Bank May Now Purchase Bitcoin Using The Bank’s Mobile App. The 53.9 million users of Nubank, the biggest digital bank in Brazil, can now purchase bitcoin. The functionality was first disclosed by the Warren Buffett-backed fintech in May via a blog post, which also noted that it will be implemented slowly. The company also allocated treasury funds to bitcoin at the time.
  • Axie Infinity Officially Reopens The Ronin Bridge. On June 28, Play-to-Earn game project Axie Infinity announced that it has reopened Ronin Bridge, a cross-chain bridge platform that connects Ronin sidechains with Ethereum. This is the first time that the Ronin Bridge has resumed operation since March 29, when Axie announced that it had been hacked.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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