Best crypto memes of the day – June 13th

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  TL;DR Breakdown eToro has received approval from the Cyprus Securities and Exchange Commission to register as a Crypto Asset Service Provider in Europe. This development precedes the establishment of the Markets in Crypto-Assets Regulation, due in December 2024. The MiCA-approved registration enables eToro to offer a range of cross-border crypto asset services as part of a diversified portfolio across the EU.   Description The Cyprus Securities and Exchange Commission (CySEC) has approved crypto-friendly trading and investment platform eToro to register as a Crypto Asset Service Provider (CASP) in Europe. This approval marks a significant step for eToro, positioning it to offer regulated crypto services across the European Union (EU). The development comes ahead of establishing the region’s Markets … Read more The Cyprus Securities and Exchange Commission (CySEC) has approved crypto-friendly trading and investment platform eToro to register as a Crypto Asset Service Provider (CASP) in Europe. This approval marks a significant step for eToro, positioning it to offer regulated crypto services across the European Union (EU). The development comes ahead of establishing the region’s Markets in Crypto-Assets Regulation (MiCA)…

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• Shanghai Clearing House embraces digital yuan for settlements

  TL;DR Breakdown Shanghai Clearing House, Asia’s first counterparty clearing institution, now supports payments made with the digital yuan. The move aims to boost efficiency in managing commodity settlements and promote the digital yuan in international markets. This initiative aligns with the People’s Bank of China’s strategy to position the digital yuan as a cross-border transactional currency. Description In a groundbreaking development, Shanghai Clearing House, Asia’s foremost counterparty clearing institution, is welcoming the digital yuan as a medium of exchange for settlements. This measure heralds a new chapter in the realm of digital currencies as the Chinese central bank’s digital currency (CBDC) gains a firmer foothold in international commerce. Easing the way for … Read more In a groundbreaking development, Shanghai Clearing House, Asia’s foremost counterparty clearing institution, is welcoming the digital yuan as a medium of exchange for settlements. This measure heralds a new chapter in the realm of digital currencies as the Chinese central bank’s digital currency (CBDC) gains a firmer foothold in international commerce. Easing the way for bulk commodities settlement The Shanghai Clearing House’s decision is set…

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• Chainlink Price Prediction 2023-2032: A Strong Buy Sentiment for LINK?

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• ECB explains why it asked banks for weekly liquidity stats

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• Prime Trust unveils $8 million loss from TerraUSD collapse in bankruptcy details

  TL;DR Breakdown Prime Core Technologies, the parent company of crypto custodian Prime Trust, disclosed an $8 million loss through investments in TerraUSD (USTC). Prime Trust disclosed that it acquired Ethereum (ETH) worth $76.4 million to fulfill customer withdrawal requests following the loss of access to specific funds. Description In a recent bankruptcy filing, Prime Core Technologies, the parent company of crypto custodian Prime Trust, disclosed an $8 million loss through investments in TerraUSD (USTC), shedding light on the financial turmoil that contributed to the company’s bankruptcy. The loss, which occurred when the algorithmic stablecoin TerraUSD collapsed in May 2022, included $6 million in … Read more In a recent bankruptcy filing, Prime Core Technologies, the parent company of crypto custodian Prime Trust, disclosed an $8 million loss through investments in TerraUSD (USTC), shedding light on the financial turmoil that contributed to the company’s bankruptcy. The loss, which occurred when the algorithmic stablecoin TerraUSD collapsed in May 2022, included $6 million in client funds and $2 million in treasury funds. Prime Trust’s investment in collapsed TerraUSD leads to major losses The…

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