- \n
- BoA and Wells Fargo have opened access to spot Bitcoin ETFs for their clients.<\/li>\n
- A court has approved FTX’s sale of its stake in AI startup Anthropic for $1 billion.<\/li>\n
- Hong Kong’s FSC has received 24 applications for VASP licenses.<\/li>\n
- OKX has launched a cryptocurrency platform in Turkey.<\/li>\n
- Circle and Coincheck will work on expanding USDC usage in Japan.<\/li>\n<\/ul>\n<\/div>\n
BofA and Wells Fargo Open Access to Spot Bitcoin ETFs<\/strong><\/h2>\n
Bank of America and Wells Fargo are offering clients spot exchange-traded funds based on digital gold upon request, according to Bloomberg<\/a>, citing informed sources.<\/p>\n
On February 29, CoinDesk’s informed sources reported<\/a> that Morgan Stanley has initiated due diligence<\/a> regarding the addition of spot Bitcoin ETFs to its brokerage platform.<\/p>\n
The publication noted that the emergence of broker-dealers like Morgan Stanley, as well as large networks of RIA<\/span>, will attract more capital to new products.<\/p>\n
Court Approves FTX’s Sale of Stake in AI Startup Anthropic for $1 Billion<\/strong><\/h2>\n
The bankruptcy court in Delaware (USA) has approved the sale of FTX’s 7.84% stake in AI company Anthropic, according to Reuters<\/a>.<\/p>\n
The approval followed a compromise between the management of the bankrupt platform and a group of creditors who opposed the sale.<\/p>\n
In April 2022, Anthropic closed a Series B funding round of $580 million, led by the crypto exchange.<\/p>\n
According to FTX’s lawyer Andy Dietderich, the organization has accumulated $6.4 billion in cash.<\/p>\n
He noted that the platform will fully reimburse clients<\/a>. The settlements are based on digital asset prices from November 2022, when the exchange filed for bankruptcy.<\/p>\n
In January 2024, FTX offloaded 22.3 million GBTC shares worth ~$908 million<\/a>. As of October 25, 2023, the position was valued at $597 million.<\/p>\n
Hong Kong’s FSC Receives 24 Applications for Crypto Exchange Licenses<\/strong><\/h2>\n
The Hong Kong Securities and Futures Commission (FSC) received applications<\/a> from 24 firms to launch a cryptocurrency exchange.<\/p>\n
Among the applicants are OKX, Bybit, Bullish, Crypto.com, Matrixport HK, and Gate. The deadline for submissions was February 29. Platforms that did not meet this requirement must cease operations in Hong Kong by the end of March.<\/p>\n
At the time of writing, HashKey and OSL held licenses.<\/p>\n
On February 27, HTX (formerly Huobi) withdrew<\/a> its application.<\/p>\n
OKX Launches Cryptocurrency Platform in Turkey<\/strong><\/h2>\n
OKX announced<\/a> the launch of a branch in Turkey \u2014 the new cryptocurrency exchange is named OKX TR.<\/p>\n
The structure offers the ability to deposit and use the Turkish lira for trading in collaboration with local banks.<\/p>\n
The platform will feature major cryptocurrency pairs with the national currency, such as USDT, Bitcoin, and Ethereum, as well as “advanced functionality.” The company also highlighted the availability of OKX Wallet \u2014 a non-custodial Web3 wallet provided by OKX Global for local users.<\/p>\n
According to CoinDesk<\/a>, the development of local digital asset legislation is “in its final stages.” New rules will require crypto platforms to obtain licenses<\/a> from Turkey’s Capital Markets Board.<\/p>\n
In February 2024, OKX launched in Argentina<\/a> as part of its current strategy to focus on the Latin American market following the opening of a branch in Brazil<\/a> at the end of 2023.<\/p>\n
From March 30, OKX will cease<\/a> providing services for users in Uzbekistan.<\/p>\n
Circle and Coincheck to Expand USDC Usage in Japan<\/strong><\/h2>\n
Circle announced a partnership<\/a> with Japanese crypto exchange Coincheck, which will integrate the company’s products for its users, including USDC.<\/p>\n
The initiative depends on Coincheck obtaining registration as an Electronic Payment Instrument Provider under the local Payment Services Act.<\/p>\n
In July, Circle co-founder and CEO Jeremy Allaire announced the launch of the stablecoin in Japan.<\/p>\n
Key Metrics of the DeFi Segment<\/strong><\/h2>\n
The total value locked (TVL) in DeFi protocols has surged to $91.3 billion. Lido leads with $33.9 billion. Aave moved to the second position with $10 billion, while EigenLayer ($9.77 billion) displaced Maker ($9.2 billion) to fourth place.<\/p>\n
![\"1-935\"](\"https:\/\/u1f987.com\/wp-content\/uploads\/1-935.webp\")
Data: DeFi Llama<\/a>.<\/figcaption><\/figure>\n TVL in Ethereum applications rose<\/a> to $53.1 billion. Trading volume on decentralized exchanges (DEX) over the past 30 days amounted<\/a> to $89.7 billion.<\/p>\n
Uniswap continues to dominate, accounting for 57.1% of total turnover. The second largest DEX by trading volume is PancakeSwap (17.5%).<\/p>\n
Also on ForkLog:<\/p>\n
- \n
- Uniswap will launch a browser extension<\/a> and new trading tools.<\/li>\n
- eToro considered<\/a> the possibility of an IPO.<\/li>\n
- MicroStrategy acquired 3000 BTC<\/a> for $155 million.<\/li>\n
- Frax Finance showed interest<\/a> in a Uniswap-inspired initiative. FXS rose by 17%.<\/li>\n
- Developers of the Bitcoin staking protocol Babylon launched a testnet<\/a>.<\/li>\n
- Curve deployed smart contracts<\/a> for the Llama Lend lending platform.<\/li>\n
- Gemini will pay a $37 million fine<\/a> and return $1.1 billion to clients.<\/li>\n
- Coinbase resolved<\/a> the “zero balance” glitch.<\/li>\n
- Investors renewed<\/a> a class action lawsuit against Ripple.<\/li>\n<\/ul>\n
Weekend Reading Suggestions<\/strong><\/h2>\n
On February 27, the lawyer for FTX founder Sam Bankman-Fried (SBF) requested<\/a> a sentence ranging from 63 to 78 months of imprisonment for his client. Media reported the submission of 29 letters<\/a> in support of SBF, including from family members and a cellmate. Read more details in ForkLog’s materials.<\/p>\n","protected":false},"excerpt":{"rendered":"
We have compiled the most significant news from the crypto industry over the past two weeks. BoA and Wells Fargo have opened access to spot Bitcoin ETFs for their clients. A court has approved FTX’s sale of its stake in AI startup Anthropic for $1 billion. Hong Kong’s FSC has received 24 applications for VASP […]<\/p>\n","protected":false},"author":1,"featured_media":11253,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1232,1233],"class_list":["post-11254","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-crypto-industry-digest","tag-industry-digests"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/11254","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=11254"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/11254\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/11253"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=11254"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=11254"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=11254"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
- eToro considered<\/a> the possibility of an IPO.<\/li>\n
- Uniswap will launch a browser extension<\/a> and new trading tools.<\/li>\n