First Short Bitcoin ETF in US, FATF Unhappy With VASPs, Inactivity Fee on Bitstamp + More News

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Get the daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the tales flying individually distinct of today’s crypto news.


Investments news

  • Financial firm ProShares is able to unveil the very first US-listed short bitcoin (BTC) futures exchange-traded fund (ETF) now, allowing investors to effectively bet against BTC. The fund, dubbed the Short Bitcoin Strategy ETF, will trade around the New You are able to Stock Market and pass the ticker BITI.

Regulation news

  • The Financial Action Task Pressure (FATF), the worldwide money washing and terrorist financing watchdog, stated that there’s been “some progress”, although not enough, within the implementation from the travel rule, which “leaves a substantial gap which means the VASP [virtual asset company] sector is vulnerable for criminal misuse.” The entire report through the FATF, to become printed in the finish of June, offers an update on “emerging risks and market developments that FATF is constantly on the monitor”, for example DeFi, NFTs, and also the so-known as “unhosted wallets.”

Career news

  • Crypto exchange Bybit stated it’s exploring methods to remove overlapping functions and make “smaller sized but more agile teams to enhance our efficiency.” “Beginning out of this week, a few of the functions and roles is going to be reviewed to make sure we remain focused and agile,” a spokesperson for the organization told Bybit states it serves over 6m users in over 160 countries.
  • UAE-based crypto exchange BitOasis let go nine of their staff among market turmoil, Reuters reported, citing an e-mail from Chief executive officer and co-founder Ola Doudin. This symbolized nearly 5% from the company’s workforce, they added, citing an unnamed spokesperson.

Exchanges news

  • Bitstamp announced an inactivity fee of EUR 10 monthly in situation the inactive user’s balance is under EUR 200 with no transaction was initiated or any other activity generating rewards happened within the last 12 several weeks. In situation of these inactivity around the account with zero balance, the exchange will reserve the authority to terminate the account, they stated.
  • Binance announced it suspended deposits and withdrawals in Brazilian reals with the government’s payment system Pix, because it ended a partnership using the local payment gateway Capitual which operated their Pix deposits and withdrawals.

Mining news

  • The facility of 118 approved crypto-mining units in Tehran, Iran, is going to be stop from Wednesday, June 22, as a result of limited way to obtain electricity, Tehran Occasions reported, citing a spokesperson for that Iranian Energy Ministry.

Crime news

  • Fraudsters who exploit professional social networking LinkedIn to lure users into crypto investment schemes pose a “significant threat” towards the platform and consumers, Sean Ragan, the FBI’s special agent responsible for the area offices in Bay Area and Sacramento, California, USA, told CNBC. The fraudster directs the LinkedIn user they’re in touch with to some legitimate investment platform for crypto, but after gaining their trust over several several weeks, informs these to slowly move the investment to some site controlled through the fraudster and drains the funds using their account.

Adoption news

  • Air travel Vueling stated it’ll start accepting payments in 13 cryptoassets via payment services provider BitPay at the outset of 2023.

Metaverse news

  • Gaming company Admix announced a merger with metaverse construction company LandVault. The recently merged entity, also known as LandVault, has greater than 160 staff and USD 25m in growth capital from Admix’s previous Series B round, also it was worth USD 300m.
  • Blockchain solutions provider Ripple and NFT project FLUF World announced a partnership to create to existence “The Open Metaverse” using a new decentralized blockchain network known as The Main Network.

Financial aspects news

  • In May, in Germany, producer prices for industrial products elevated by almost 34% in contrast to May 2021, according towards the German Federal Record Office DeStatis, the greatest increase ever when compared to corresponding month from the preceding year. Mainly accountable for the rise of producer prices when compared with May 2021 was the cost increase of one’s, they stated.

Legal news

  • Nick Patterson, a homeowner of Illinois, USA, sued Terraform Labs, its founder Do Kwon, and many investment capital firms that comprise the Luna Foundation Guard within the wake from the Terra (LUNA) collapse on claims the defendants violated federal securities laws and regulations and fooled investors.

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