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Cryptocurrency Wallet Provider Ledger Partners with Payment Giant PayPal|Cryptocurrency Trends

John, Bitget Research
2023/08/17
Cryptocurrency Wallet Provider Ledger Partners with Payment Giant PayPal|Cryptocurrency Trends

1.Mainstream Exchange Trends:

● Coinbase Financial M arkets receives regulatory approval from the National Futures Association (NFA), an organization designated by the U.S. Commodity Futures Trading Commission (CFTC), to operate as a futures commission merchant (FCM) and offer federally regulated crypto futures trading services to eligible U.S. customers.
● Binance Futures to launch USDT-M SEI futures with up to 20x leverage on August 17, 10:30 AM.
● Mainstream Exchange Listings (CEX: Token – Time of Listing in UTC)
OKX:
Lybra Finance (LBR) — August 16, 7:00 AM.

2.Cryptocurrency Trends:

● Mantle Network, an Ethernet Layer2 network, surpasses US$40 million in TVL within just one month of its launch.
● On August 16, Unibot announces the launch of Unibot X.
Linea, an Ethereum Layer2 network, launches its ERC20 token bridge.
● Crypto wallet provider Ledger partners with payments giant PayPal to allow users to purchase crypto via their PayPal accounts on the Ledger Live app.
● BitPay, a crypto payment service provider, announces support for buying, storing, trading, and spending XRP.
● Archblock, developer of the TrueUSD stablecoin, announces the launch of a tokenized U.S. treasury bill fund on its marketplace.
● PayPal to temporarily suspend its crypto purchase service in the UK from October 1, 2023, due to the introduction of new rules by the Financial Conduct Authority (FCA). In an email sent to some users on August 14, PayPal said that it expects services to resume in early 2024.

3.Financing Trends:

● Linera, a Layer1 blockchain, raises US$6M in a funding round led by Borderless Capital.
● ZetaChain, an interoperable Layer 1 network, announces it has raised US$27 in equity financing.
● BitGo, a crypto financial services company, raises US$100 million in a funding round at a valuation of US$1.75 billion, with participation from undisclosed investors.

4.Regulatory Trends:

● U.S. CFTC Chairman Rostin Behnam says in a podcast that something needs to be done to regulate cryptocurrencies, adding that the "solution" is to pass legislation from Congress.
● Dubai's Virtual Assets Regulatory Authority says that it has imposed a Dh10 million (US$2.7 million) fine on OPNX, a new digital asset trading platform established by the co-founders of defunct Three Arrows Capital. The fine for the market regulation breach in May remains unpaid.
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