FreeCryptoCurrency.Me

Teaming up with fundraising platform JustGiving, Teddy DAO will hold a daily auction of teddy bear NFTs, allowing the buyer to donate proceeds to a charity of their choosing.

Investors turned optimistic about Grayscale allowing redemptions in the future after BlackRock’s filing for spot bitcoin ETF last week, one analyst said.

The company plans to expand in Asia-Pacific (APAC), a region it sees as driving the “next wave of growth for crypto.”

Miners are increasingly looking to fill data center space with AI and cloud computing.

Moving average crossovers are lagging Indicators. That said, the latest death cross is consistent with the dour regulatory outlook.

Payments provider Cuscal, through its partner Zepto, has brought new banking restrictions on cryptocurrency exchanges in Australia.

The market for climate insurance is estimated to triple in the next decade.

Gemini plans to increase its headcount in Singapore to more than 100 employees over the next year. The office will be the company’s main hub for its ramped up plans to target the Asia market.

“Our Singapore office will serve as a hub for our larger APAC operations. We believe that APAC will be a great driver of the next wave of growth for crypto and Gemini,” the company said in a blog post.

Gemini is already in the middle of opening an engineering center in Gurgaon, India. It’s also actively hiring there — with a focus on software engineers and technical product managers — hoping to make it the company’s second biggest engineering hub after the U.S.

The expansion plans are part of Gemini’s wider push to access a non-U.S. audience. Gemini first detailed its plans for Gemini Foundation, a crypto derivatives exchange focused on customers outside of the U.S, in April. The foundation is destined to be based in Singapore, Fortune reported.

The news comes as authorities in the U.S. crack down heavily on major U.S.-based crypto exchanges for listing cryptocurrencies it claims are unregistered securities. The SEC has sued Coinbase and Binance in recent weeks.

Looking outside of the US

Coinbase is also looking away from the U.S. for similar reasons. In May, it extended the range of services it offers customers in Singapore.

“The message here is the world is sort of moving on with or without the U.S. and we are very committed as a global company to keep moving forward on international expansion,” said Hassan Ahmed, country director for Singapore at Coinbase, at the time.

© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

EDX Markets, a cryptocurrency exchange supported by major financial players Citadel Securities, Fidelity Investments and Charles Schwab, is expected to go live later today, offering trading in four cryptocurrencies: bitcoin, ether, litecoin and bitcoin cash. 

The exchange was first revealed in September, seeking to cater to brokers and investors interested in digital assets, and will announce its official launch today, nine months after it unveiled the plans, the Wall Street Journal reported.

Unlike traditional cryptocurrency exchanges, EDX said it draws on traditional finance standards but will operate as a “non-custodial” exchange and won’t directly handle customers’ digital assets. Instead, EDX will provide a platform where firms can execute trades between cryptocurrencies and fiat currencies. 

The actual transfer of crypto and cash between parties to settle the trades takes place outside of EDX’s platform. While EDX plans to launch a clearinghouse later this year to facilitate trade settlement, it intends to utilize third-party banks and a crypto custodian for holding customer assets. EDX’s non-custodial approach aims to alleviate concerns over security and potential misuse of customer funds, avoiding conflicts of interest.

EDX won’t directly serve individual investors but expects retail brokerages to route investors’ orders to buy and sell cryptocurrencies on its platform — mirroring the stock market.

In addition to Citadel Securities, Fidelity Investments and Charles Schwab, EDX has backing from Paradigm, Sequoia Capital and Virtu Financial. The exchange will also announce the closure of a second funding round, with new investors including Miami International Holdings and affiliates of proprietary trading firms DV Trading, GTS, GSR and Hudson River Trading, the Wall Street Journal reported.

The launch comes despite regulatory challenges in the U.S. following the Securities and Exchange Commission’s recent lawsuits against Binance and Coinbase for alleged securities law violations.

 

© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

The latest price moves in bitcoin (BTC) and crypto markets in context for June 20, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.