Welcome to our recap of the major stories in the crypto world! Here’s what has happened over the past week:
Token2049 was a blast 🚀
Thank you to everyone who dropped by our booth! We had a blast meeting all of you:
— Christophe Fonteneau ( we're Hiring ) (@chfonteneau) September 29, 2022
We hope you enjoyed your swag and $10 token airdrop!
With over 7,000 participants, this was one of the biggest crypto events this year. We’re super proud to be a Gold partner, and we can’t wait to meet all of you at the next event 😉
DBS provides institutional access to crypto 💲
While Singapore has been rather strict with its crypto regulations for retail investors, DBS Bank will now be offering crypto services to accredited investors.
Singapore's state-owned DBS Bank expands its crypto trading service to more than 100k accredited clients.🇸🇬🏦
— Whale Coin Talk (@WhaleCoinTalk) September 25, 2022
These investors would need to meet certain criteria to qualify, including their income, net worth, qualifications and understanding of financial markets.
However, retail investors may face further frictions when buying crypto in the future.
Once hailed as a ‘crypto-friendly’ hub, Singapore is now losing its appeal as crypto companies are shifting their headquarters to Dubai.
FTX US wins bid for Voyager ✅
Following the collapse of centralised crypto lending platforms, Voyager was one of the firms to announce its bankruptcy.
The firm held an auction for its crypto holdings, and FTX US won it with a bid of about $1.4 billion.
Today, after a competitive auction aimed at returning maximum value to customers, @FTX_Official US was selected as the highest and best bidder. Press release linked below. More information about what this agreement means for customers to follow.https://t.co/OmOd7pvSza
— Voyager (@investvoyager) September 27, 2022
There were reports that Binance and CrossTower placed bids as well, but Voyager chose to accept the bid that provided the “best alternative for Voyager stakeholders”.
FTX, CrossTower and Binance are all reportedly vying to acquire Voyager Digital's assets. https://t.co/YQnDUZJcJP
— Cointelegraph (@Cointelegraph) September 26, 2022
With many Voyager customers’ funds still being locked up, this could mean that they may be able to get back their assets.
Meanwhile, things still seem uncertain for Celsius’ customers, as the CEO, Alex Mashinsky, announced his resignation.
— Alex Mashinsky (@Mashinsky) September 27, 2022
New Robinhood Wallet on Polygon 👀
Robinhood has released its Web3 wallet, and they have chosen the Polygon network as its main network.
— Polygon – MATIC 💜 (@0xPolygon) September 27, 2022
Users on Robinhood are able to purchase cryptocurrencies, and this new wallet will provide self-custody of their assets.
If you can’t wait to get your hands on a Polygon wallet, you can try out our multi-chain wallet that supports 10 networks including Polygon, other EVM-compatible chains and Solana.
Nexo acquires stake in US Bank 🏦
Nexo has made a bold claim as one of the leading centralised crypto lending platforms by acquiring a stake in Summit National Bank.
In a transformative move for the industry, Nexo has acquired a stake in US federally chartered Summit National Bank, becoming its preferred digital assets partner. 🧵https://t.co/euiwkcN10Q
— Nexo (@Nexo) September 27, 2022
This allows Nexo to provide a greater suite of financial services to US customers, such as the opening of bank accounts and asset-backed loans.
Nexo has come out pretty much unscathed after the centralised lending platform debacle, and this move will help to further expand its consumer base.
USDC to expand to 5 new networks
Multi-Chain is truly the future, and USDC will now be supported on 5 new networks, including:
— Circle (@circle) September 28, 2022
This will add to USDC’s 9 existing networks, such as Ethereum, Solana and Avalanche.
Furthermore, Circle, USDC’s issuer, is creating a Cross-Chain transfer protocol to bridge USDC across multiple networks.
6/ Cross-Chain Transfer Protocol is slated to go live on Ethereum and Avalanche mainnet later this year 👀
Learn more and discuss your integration with our team today on Circle’s all-new Discord channel: https://t.co/k9B7g5UOmu
— Circle (@circle) September 28, 2022
While you are waiting for this feature to roll out, why not try out our bridging feature? You are able to bridge across all of our 9 EVM-compatible networks.
On top of this, Circle has acquired Elements, a payments platform.
Onstage at #ConvergeSF22 today, we announced the acquisition of Elements to accelerate our crypto payments roadmap and lower the barrier of entry for merchants to access next-gen payments and financial services. Learn more: https://t.co/ZAFjB0Jg1g
— Circle (@circle) September 29, 2022
This will further enhance Circle’s crypto payments capabilities as it aims to bring both USDC and EURC to more customers.
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