Episode Details

02nd July: Crypto & Coffee at 8
⚡ Circle USDC 1st licensed stablecoin under MiCA 🔨 Bitcoin mining hashrate 🔥Tether.io partners with Uquid in Philipines 🚨Coinbase to Custody crypto for US Marshals❗

🟦 Circle has become the first global stablecoin issuer to comply with the EU’s Markets in Crypto-Assets (MiCA) regulatory framework. The firm, issuing USDC and EURC in the EU, achieved this through an Electronic Money Institution (EMI) license from France’s ACPR. Circle Mint France now offers business customers near-instant access to mint and redeem these stablecoins. Circle’s co-founder, Jeremy Allaire, highlighted this milestone as a significant step towards mainstream acceptance of digital currencies. This compliance reinforces Circle’s commitment to regulatory standards and the future of digital finance. Official blog here https://lnkd.in/dmtZsPhg

🔨 The Bitcoin hashrate drawdown has dropped to levels not seen since December 2022, indicating a potential price bottom at -7.6%. Metrics like the Bitcoin Exchange Reserve and Miners Position Index suggest low selling pressure. Miners are capitulating, signalling buying opportunities, and the Hash Ribbons indicator shows a buy signal due to decreased computational power. Post-halving, miner withdrawals dropped by 90%, reducing selling pressure. However, a Cantor Fitzgerald report warns that some mining companies may become unprofitable if Bitcoin’s price falls to $40,000. Info via Cointelegraph https://lnkd.in/dzBQfgCx

🌟 Tether.io has partnered with Web3 e-commerce platform Uquid to allow residents of the Philippines to pay their Social Security System (SSS) contributions using USDT on The Open Network (TON). Uquid has also released a guide on how to use USDT-TON for these payments. Tether’s CEO, Paolo A., expressed excitement about enhancing the crypto shopping experience and enabling reliable, cross-border payment solutions. Info here https://lnkd.in/dPtssGNJ

🚨 The U.S. Marshals Service has contracted Coinbase Prime to manage and dispose of its large-cap cryptocurrency assets, ensuring compliance with Department and USMS policies to streamline custody & disposal processes in government forfeiture programs. Info https://lnkd.in/dRFveHQw

❗ Coinbase Prime will be responsible for implementing storage and liquidation techniques in compliance with Department and USMS policies. The deal aims to streamline custody, management, and disposal processes for cryptocurrency while expanding the range of digital assets that can be handled under the government’s forfeiture programs.

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