Is This How to Get Cheap BTC & ETH? 🤔

In today's edition: 🚓 Binance Australia searched, 📈 ProShares BITO fund, 📄 South African licenses, and more!

July 05, 2023

What’s Poppin’?

by Samyuktha Sriram

Trade data shows that major cryptocurrencies traded at a discount ranging between 2% and 5% on Binance.US last week.

The crypto exchange’s local offices were searched by Australia’s markets regulator as part of an investigation into its derivatives business.

The ProShares BITO fund over $26 million worth of inflows over the last week amid renewed optimism around the potential approval of a spot Bitcoin ETF.

The country’s financial regulator will require all crypto firms in South Africa to operate with licenses before the end of the year.

On the Pod…

Daily Bits…✍️✍️✍️

  • 🛡️ A group within the Ethereum community suggested a new standard, ERC 7265, designed to increase the security of DeFi protocols by integrating a "circuit breaker" to curb potential hacks.

  • 💱 Aave token holders are participating in a vote on a governance proposal to convert 1,600 ETH (approximately $3 million) from the protocol's treasury into wstETH and rETH.

  • 🚫 Starting from July 7, Binance will suspend support for deposits and withdrawals of several tokens associated with the Multichain project, including POLS, ACH, BIFI, and others.

  • 🇬🇧 The UK's Economic Crime and Corporate Transparency Bill, aimed at enabling law enforcement to seize and freeze cryptocurrency involved in criminal activities, has been approved by the Parliament's upper chamber and is now nearing finalization.

  • 📄 A recent policy proposal suggests the Hong Kong government should introduce a stablecoin, HKDG, tied to the Hong Kong dollar, which could offer competition to established stablecoins like USDT and USDC.

  • 🔒 Solana witnessed a substantial 91% increase in the value locked in its liquid staking protocols like Marinade and Lido during the first half of the year.

  • 📈 The price of Aptos (APT) token jumped by 10% due to a surge in trading volumes in South Korea.

  • 🔄 Amid a Bitcoin rally, traders are increasingly shifting from decentralized to centralized exchanges, with monthly volumes for the former relative to the latter falling from 22% in May to around 14% in early July. 

Today in Crypto Adoption...

  • 💰 Bitget, the crypto derivatives and copy trading platform, expanded into the crypto loan market with a new offering that allows users to secure loans using digital assets as collateral.

Bringing institutional-grade financial products on-chain, starting with the tokenization of US Treasuries and money market funds.

What Do You Meme?

Learn 🤓

DLCs provide a way for private and secure transactions to occur off-chain, using the Bitcoin blockchain as the final settlement layer.

📈 Your Market Update 📉

  • BTC is up 1.2%, trading at $31,026

  • ETH is down .2%, trading at $1,956

  • BTC dominance: 47.92%

  • Crypto market cap: $1.26 trillion

*All data as of today, 6:50 am ET

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