Bitcoin debuts in partnership with BlackRock and Coinbase, Meta launches NFTs in more countries, risky crypto bridges, and more news

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Get your daily, bite-sized roundup of cryptoasset and blockchain-related news – examine the stories flying under the radar in today’s crypto news.
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Investment news

• Big Wealth Manager Black Rock has partnered with Crypto Exchange coin base to allow the former’s institutional clients who also own digital assets on Coinbase to use Aladdin, the wealth manager’s suite of software tools, to manage their portfolios and perform risk analysis on investment decisions, the exchange said. For the time being, the partnership only applies to Bitcoin (BTC). “Our institutional clients are increasingly interested in gaining exposure to the digital asset markets and are focused on how to efficiently manage the operational lifecycle of these assets,” said Joseph Chalom, global head of Strategic Ecosystem Partnerships at BlackRock, in the announcement quoted.
• Cryptoasset trading platform CoinSmart Financial Inc. is looking for deals in Canada, Europe and the US as turmoil in the crypto industry creates opportunities, Bloomberg reported, citing Chief Executive Officer Justin Hartzman. The company was screening distressed assets, custodians and other exchanges and payment platforms, it added.
• revolution said it has launched a new crypto service in Singapore that allows customers to trade more than 80 tokens. The company also plans to roll out educational features in the coming months to help customers “better understand the trends and risks associated with cryptocurrency.”
• PwCHenri Arslanian, global crypto leader of , has left his position at the company to set up a digital asset fund. Nine blocks of capital management, in Dubai, the Financial Times reported. The fund will receive $75 million from its main backer and major shareholder Capital of the Nine Mastsa Hong Kong-based hedge fund.

NFTs News

• Meta said it is introducing digital collectibles Instagram to 100 other countries in Africa, Asia-Pacific, the Middle East and the Americas. In addition, they now support wallet connections with the Coinbase wallet and Elegant wallet (coming soon) and the ability to post digital collectibles minted on the Flow Blockchain.

crime news

• Blockchain analytics company chain analysis claims that $2bn worth of crypto has been stolen from cross-chain bridges via 13 different hacks this year alone, including this week’s $190mn nomad use the bridge. In their report, Chainalysis estimates that this type of hack accounts for 69% of all cryptocurrency stolen this year.

Regulatory news

• That faction of all parties (APPG) for the UK crypto and digital asset sector announced an investigation into the growing UK cryptoasset industry. The inquiry will focus on key policy issues relating to the UK crypto and digital assets sector and as part of this the APPG is seeking opinions from across the sector and has stated that they will receive input from crypto operators, regulators and industry experts wants to hear , and government about the need to regulate the sector, they said.
• The legislation, introduced on Wednesday by a mix of U.S. Republicans and Democrats including Senators Pat Toomey, Cynthia Lummis, Rob Portman, Kyrsten Sinema and Mark Warner, would exempt crypto miners and software developers from being used as crypto, according to Bloomberg – Being considered “brokers”. That US Treasury Department has said it supports not classifying miners, developers and other “side parties” as brokers, thus sparing them efforts aimed at improving tax compliance.

Legal news

• Coinbase Global asked the U.S. Supreme Court to drop two lawsuits filed by its users, both seeking class action status, while the company appeals to have the cases arbitrated, Bloomberg reported. Federal judges in both cases rejected Coinbase’s offer to submit the cases to arbitration, which the company says is required under its user agreements.
• Victorian police in Australia are being given new powers to seize crypto and digital assets from criminals and force platforms to release information on suspects, according to a statement by Victorian Prime Minister Daniel Andrews.

Mining news

• US based bitcoin miner CleanSpark, reported in an unaudited update for the current calendar year (YTD) ended July 31: BTC 384 mined in July, BTC 2,247 mined YTD, BTC 519 in total holdings, BTC 426 converted for operations and growth in July, and one currently Deployed fleet of approximately 30,450 latest-generation Bitcoin miners with a total hashrate of 2.9 EH/s. The company funded its growth and operations entirely by selling BTC 426 at an average price of approximately $20,768 per BTC, with sales equating to approximately $8.8 million in proceeds.

gaming news

• Crypto Gaming Guild Yield Guild Games (YGG) stated that by the end of Q2 2022 there were 21,739 active holders of the YGG Guild Badge (a non-transferable NFT that gives you access to the YGG website and its features). Also, YGG signed 5 new game partnerships in the last quarter. In all, YGG said it had 72 partnerships spanning games, guilds, and play-to-earn infrastructure worth $39.4 million.

Business news

• In an attempt to combat inflation in the UK, the Bank of England raised its rate by 0.5 percentage points to 1.75%. Inflation is expected to rise more sharply than forecast in the May report, from 9.4% in June to just over 13% in the fourth quarter of 2022, and remain at very high levels for much of 2023 before picking up in two years the 2% target falls. said the bench.

Career News

• Big crypto exchange binance announced the appointment of its co-founder Yi He as the new head of its venture capital arm and incubator, Binance Labs. Yi will lead global strategy and day-to-day operations at Binance Labs.

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