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Cryptonary's Weekly Digest: April 18-24

Updated: Aug 23, 2024
Published: Apr 24, 2022
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Cryptonary presents its readers with the Weekly Digest for April 18-24. The Weekly Digest aims to cover all the critical events that occurred these past seven days in the world of cryptocurrencies and firms that leverage blockchain technology. 

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A deeper dive

Binance denies that it was approached by Russian authorities to hand over client data

Binance's head of operations in Eastern Europe and Russia, Gleb Kostarev, met with Rosfinmonitoring or Rosfin, the Federal Financial Monitoring Service of the Russian Federation, in April 2021 wherein the latter asked the former to provide customer data. 

Binance reportedly declined to supply the data, but messages between Kostarev and a business associate showed that the regional head agreed to provide the data required by Rosfin.

Polygon contributes $100M to 'Supernets,' Powered by Polygon Edge

Polygon has launched a new dedicated blockchain network called Supernets, which provides several benefits over Polygon Edge. Supernets will be dedicated and will be secured by Polygon's native token, MATIC. Supernets will be interconnected as well as connected with Ethereum to allow easy transfer of data. 

Polygon plans to commit $100 million to the projects which use Supernets. It will also assign Edge Certified Partners to those who don't want to get too technical.

Stripe has enabled crypto payments in USDC

Stripe is adding support for payments in the USDC stablecoin, and content creators on Twitter will be the first ones who'll be provided access. The firm will accept USDC via the Polygon blockchain through Stripe Connect. However, content creators will need to complete KYC first in order to access this feature.

Blockchain security firm CertiK raises $60M as demand for security rises

CertiK, a blockchain security firm, raised $60 million following a new funding round led by SoftBank Vision Fund II and Tiger Global as demand for security in the blockchain industry continues to rise. In the course of nine months, the firm has raised a whopping $290 million. 

Fidelity debuts two new ETFs based on crypto payments and metaverse

The Fidelity Metaverse ETF (FMET) and Fidelity Crypto Industry and Digital Payments ETF (FDIG) started trading on April 21, allowing investors to invest in Web 3.0 firms "building out the future state of the Internet.

Dubai is a haven for crypto enthusiasts, says Citi executive

Ronit Ghosh, Global Head of Banking, Fintech, and Digital Assets for Citi Global Insights, said in his recent interview that he believes that Dubai is the new go-to destination for crypto enthusiasts and has proved to be a haven for crypto-based firms and exchanges as well. He believes that the rulers are following "a pro-future or a pro-technology agenda."

Binance CEO confirms the recovery of $8.5M linked to Axie Infinity hack

The CEO of Binance, Changpeng Zhao, who goes by "CZ," has confirmed that the exchange has successfully recovered $8.5 million worth of funds linked to the Ronin Bridge exploit. The funds were distributed across 86 accounts.

Coinbase is rumored to be acquiring crypto exchange BtcTurk for $3.2B

According to Mergermarket, an M&A research firm, Coinbase, the biggest exchange in the US, plans to acquire BtcTurk, as a part of its plan to expand into Turkey. As per rumors, the deal could be worth around $3.2 billion, setting a new record for the exchange. 

US imposes new sanctions on Russian entities, including crypto miner BitRiver

The United States has imposed new sanctions on more than 40 people and entities in Russia, and for the first time, this includes a Russian crypto miner, BitRiver. The sanctions extend to a Russian commercial bank, a virtual currency mining company called BitRiver, and Russian oligarchs.

AUSTRAC issues two guides for helping businesses spot illicit crypto use

Australian Transaction Reports and Analysis Centre (AUSTRAC), has issued two new financial crime guides intending to help entities spot potential illicit activities. These guides will help entities track if their customers are using crypto for illicit purposes.  

Germany's banking giant Commerzbank applies for a crypto license

Germany's banking giant, Commerzbank, has confirmed that it had applied for a crypto broker license back in early 2022 and is the first major bank to do so. While 25 such applications are already pending with BaFin, Germany sees a surge in demand for crypto usage.

Binance.US is no more a part of the Blockchain Association

Binance.US, the United States arm of the world's biggest cryptocurrency exchange, has left the Blockchain Association and plans to form its own government affairs team in Washington. 

Coinbase has launched a beta version of its NFT marketplace

Coinbase has officially launched its beta version of Coinbase NFT, which will be accessible via the official website. Moreover, for now, the NFT marketplace only supports Ethereum-based NFTs, but more chains will be added soon. 

Binance.US obtains money transmitter license in Puerto Rico

The Puerto Rico Office of the Commissioner of Financial Institutions has granted a money transmitter license to Binance.US, which aims to offer "secure, reliable, and low-fee access to a robust selection of tokens" in the territory.

CoinDCX valued at $2B following a new funding round worth $135M

CoinDCX raised $135 million after a Series D funding round which was co-led by Steadview and Pantera. The Indian exchange is now valued at $2.15 billion and has raised a total of $235 million via various funding rounds. 

Blockchain.com's plans for an IPO

Blockchain.com is planning an Initial Public Offering and is already interviewing banks for the IPO. The plans for the IPO to go live lie sometimes this year, but goals can get delayed. 

Binance partners with Gulf Energy Development: aims for approval in Thailand

Binance has struck a joint venture with Gulf Energy Development, owned by billionaire Sarath Ratanavadi. The exchange aims to expand operations in Thailand with this partnership.

Grayscale: Bitcoin spot ETF by SEC is just around the corner

Michael Sonnenshein, the CEO of the cryptocurrency asset management giant Grayscale Investments LLC believes that the firm's request to convert the GBTC fund to a Bitcoin spot ETF will soon be approved by the SEC.

Ireland to ban parties from accepting crypto donations

Irish authorities plan to ban parties in the nation from accepting crypto donations citing foreign cyber-interference in the Irish election as the reason behind the decision.  

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