This week in Crypto (June 26–July 3)

This week in Crypto (June 26–July 3)

Technology
July 3, 2022 by
6
Could better days be ahead for the crypto space in 2022? It may be too early to tell but positive signs emerge. FTX struck a deal for way forward for one of the largest crypto lenders, BlockFi. During the same week, the company denied plans to enter the TradFi world through an acquisition of Robinhood. Maker,
This week in Crypto (June 26–July 3)

Could better days be ahead for the crypto space in 2022? It may be too early to tell but positive signs emerge.

FTX struck a deal for way forward for one of the largest crypto lenders, BlockFi. During the same week, the company denied plans to enter the TradFi world through an acquisition of Robinhood.

Maker, the protocol behind the Ethereum-based stablecoin DAI, is voting to allocate its treasury reserves into US Treasuries and Bonds. Maker’s overcollateralized stablecoin model proved robust through the market meltdown and the move into traditional assets could give the protocol real world earning power.

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In broader regulatory updates, the EU reached a provisional agreement on its landmark Markets in Cryptoassets (MiCA) directive — bringing years of debate on how to regulate the digital-asset industry to an informal close.

Lastly, El Salvadore again decided to “buy the dip”, this time around with additional 80 BTC at $19,000 — bringing its total balance to over 2,000 BTC.

Maker governance is voting to invest $500 million in US Treasury bills

Maker governance is voting to invest $500 million in US Treasury bills

FTX Cuts Down Claims That It Plans To Acquire Robinhood

FTX Cuts Down Claims That It Plans To Acquire Robinhood – Blockworks

UK, US eye central bank digital currencies and stablecoins in London meeting

UK, US eye central bank digital currencies and stablecoins in London meeting

Better days ahead with crypto deleveraging coming to an end — JPMorgan

Better days ahead with crypto deleveraging coming to an end – JPMorgan

EU Reaches Provisional Deal on Landmark Crypto Rules

https://www.bloomberg.com/news/articles/2022-06-30/eu-reaches-provisional-deal-on-landmark-crypto-rules

BlockFi strikes credit deal with FTX US, outlines acquisition path

BlockFi strikes credit deal with FTX US, outlines acquisition path

El Salvador purchases 80 additional BTC at $19,000 each

El Salvador purchases 80 additional BTC at $19,000 each

Chart of the week:

Though the one of the promises of cryptocurrencies has been its decoupling from broader markets, the year has proved the reverse has been true. BTCs correlation to the S&P500 was at its highest in 2022. The chart proves another point, when investors are scared they will sell all risky assets driving correlations to 1.

This week in Crypto (June 26–July 3) was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.

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