Analyses
Daily News Summary 19/7
July 19, 2024
ZA Bank to Serve as Reserve Bank for Stablecoin Issuers in Hong Kong
ZA Bank, the largest virtual bank in Hong Kong, has announced that it will provide reserve banking services to stablecoin issuers. The bank is currently in discussions with several stablecoin issuing companies, as the Hong Kong government requires these service providers to place mandatory reserve assets in local banks.
Chainbase Raises $15 Million Led by Tencent
Blockchain data network developer Chainbase has raised $15 million in a Series A funding round co-led by Tencent Investment Group, China’s largest internet company, and Matrix Partners China. Chainbase describes itself as an omnichain data network that consolidates all blockchain data on a single platform. Its mainnet and governance token, CBT, are expected to launch in the fourth quarter of this year.
Binance.US Receives New Court Order
Amy Berman Jackson, a judge of the United States District Court, issued a new order today requiring Binance.US to invest customer assets in U.S. Treasury bills, deemed a safe investment by the U.S. Treasury Department. Additionally, the crypto assets must be transferred to a third-party custodian not affiliated with the platform.
Messari Founder Resigns Over Political Views
Ryan Selkis, the founder and CEO of the crypto data platform Messari, has resigned from his position following a series of extreme pro-Trump comments posted on X (formerly Twitter). Among his remarks, he expressed hopes for “sending green card holders back” and labeled Vitalik Buterin as the “most naive and useless political commentator.” Messari’s CFO, Eric Turner, has taken over as CEO.
Recommended
You may also be interested in these articles!
US Revised UoM Inflation Expectations
Macro data and analysis
US Revised UoM Consumer Sentiment
Macro data and analysis
US Existing Home Sales
Macro data and analysis
