Fidelity & Spot Bitcoin ETF | Circle & Arbitrum | Magic Eden & BRC-20 Tokens | PancakeSwap & zkEVM | Coinbase's Base & Mainnet Preparation | &more
28.06. - 03.07
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1 | Fidelity readies new spot bitcoin ETF filing, report says
June 27 (Reuters) - Asset manager Fidelity is expected to file with the U.S. securities regulator for a spot bitcoin exchange-traded fund, joining other big money managers seeking to launch bitcoin ETFs, the Block reported on Tuesday citing a source familiar with the matter. In the past two weeks, BlackRock(BLK.N), WisdomTree(WT.N), Invesco(IVZ.N), VanEck, and Bitwise have filed new applications with the U.S. Securities and Exchange Commission (SEC) for spot bitcoin ETFs, sending the price of bitcoin to a more than one-year high of over $31,000 on June 23. The Boston-based financial firm is also part of a consortium that includes market makers Citadel Securities and Virtu Financial (VIRT.O), retail broker Charles Schwab (SCHW.N), and venture capital firms Paradigm and Sequoia Capital, which recently launched a crypto exchange called EDX Markets.
2 | Circle adds CCTP to Arbitrum for Layer 2 USDC transfers from Ethereum, Avalanche
Circle, the issuer of the USD Coin stablecoin, said that its Cross-Chain Transfer Protocol is now operational on Arbitrum, a Layer 2 scaling solution for Ethereum. The protocol is designed to enable faster and more secure transfers of USDC across multiple chains, including Ethereum, Avalanche and Arbitrum. CCTP enables the transfer of USDC across different blockchain networks by burning the native USDC on the initial chain and minting an equal amount on the recipient chain. Arbitrum is the third chain offering support for CCTP and is live on the official Arbitrum Bridge, as noted by Circle. The CCTP integration comes after Circle announced a native version of its stablecoin on the Arbitrum network.
3 | Magic Eden Dives Deeper Into Bitcoin With BRC-20 Tokens
Multi-chain NFT marketplace Magic Eden on Tuesday announced support for BRC-20 tokens, expanding its Ordinals offerings to include the class of tokens built on top of Bitcoin. BRC-20 support will be added at 8pm ET on Tuesday, a spokesperson told Decrypt. In addition to letting users trade BRC-20 tokens on the secondary market, the move lets people create their own new tokens on Bitcoin and let traders mint them directly through its launchpad. Magic Eden’s launchpad is offered as a premium service for creators with marketing and strategy support.
https://decrypt.co/146415/magic-eden-dives-deeper-bitcoin-brc-20-tokens
4 | Decentralized Exchange PancakeSwap Goes Live on Polygon zkEVM Blockchain
Decentralized exchange (DEX) PancakeSwap will go live on the Polygon zkEVM network in line with broader plans to expand its user base and build protocol revenues, developer “Chef Cocoa” shared with CoinDesk. As a DEX, PancakeSwap relies on smart contracts instead of middlemen to process trading, lending and lottery services for users on the BNB Chain, Ethereum and Aptos blockchains. The protocol held over $1.54 billion worth of tokens as of Wednesday, DefiLlama data shows. The deployment on Polygon zkEVM will provide lower fees and faster transactions for users transacting on the zkEVM network. Currently, PancakeSwap users can trade with fees of as low as 0.01% – one of the lowest among DEXs.
5 | Coinbase's Base Prepares for Mainnet Launch With Slew of Security Audits
Base, the layer 2 blockchain developed by Nasdaq-listed crypto exchange Coinbase (COIN), has completed a series of security audits as it prepares to launch its mainnet with the aim of attracting as many as 1 million new crypto users in coming years. Base, which is built on the OP stack in collaboration with Optimism, was announced in February. To battle test the blockchain itself and the OP stack's security, Coinbase commissioned a six-month internal audit from its protocol security team, according to a press release. The team audited all of Optimism's pre-deployments and smart contracts on both layer 1 and layer 2 to identify potential vulnerabilities of security risks, Coinbase said.
6 | Maple Finance to Offer Crypto-Collateralized Loans to Web3 Businesses
Maple Finance, a marketplace that connects institutional borrowers and lenders with accredited investors, has unveiled a new direct lending arm, Maple Direct. Maple Direct will launch in July and focus on debt deals for Web3 businesses that need a compliant financing solution. The loan offering provides an answer for large organizations previously unable to secure loans collateralized by digital asset holdings due to factors such as regulatory requirements or risk tolerance. The Maple Direct lending pool offers transparency by allowing lenders to see the over-collateralization ratio to loan values and measure subsequent risks instead of operating opaquely. The lending pool on Maple Direct is designed to meet the liquidity and risk requirements of various capital allocators, such as crypto funds, decentralized autonomous organizations (DAOs), venture capitalists, high net-worth individuals, yield aggregators, and family offices, according to Maple. As such, all lenders must pass Know-Your-Customer (KYC) checks before using the platform.
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