● JPMorgan Chase expands JPM Coin system to introduce euro-denominated payments for corporate clients
JPMorgan Chase is expanding its blockchain-based payment system, JPM Coin, to introduce euro-denominated payments for corporate clients, according to Bloomberg. German company Siemens is reported to have made its first euro payment on the platform.
● a16z creates new funds and registers new consulting firms
According to TechCrunch, according to a document submitted to the U.S. Securities and Exchange Commission (SEC) last week, venture capital firm a16z has created a new fund called "a16z Perennial Venture Capital Fund", which will operate out of a16z's Menlo Park office.
In addition, a16z has also registered a new consulting company "Perennial Management". According to the ADV documents submitted to the SEC, the company's asset management scale is US$105 million and it currently has 18 high-net-worth clients. The documents show that the company will provide consulting services such as portfolio management to individuals, small businesses and private fund managers. The new company has a total of 8 employees, including Chief Investment Officer Michel Del Buono who joined last year.
● Optimism blockchain is now renamed OP Mainnet
Optimism posted on Twitter that the Optimism blockchain has now been renamed OP Mainnet. The reason for this change is to distinguish the OP Mainnet blockchain itself from the collective, atmosphere, and spirit contained in Optimism.
● Cryptopay EMI license revoked, urging EU customers to spend or transfer card funds immediately
According to Decrypt, European cryptocurrency card provider Cryptopay's EU debit card provider UAB PayrNet has lost its electronic money institution (EMI) license. UAB PayrNet's license has been revoked by the Central Bank of Lithuania. Cryptopay urged EU customers to spend or transfer card funds immediately.
● Bitcoin volatility rebounded again, reaching its highest point since mid-May
According to The Block, data shows that Bitcoin's volatility had previously been low, but has now rebounded again to its highest level since mid-May. Bitcoin's annualized volatility has been surging, reaching 51.8% on June 21, higher than the recent low of about 31% on June 6. Nevertheless, this volatility does not necessarily translate into higher trading volumes on spot crypto exchanges.
While exchange cryptocurrency trading volume (7-day moving average) has risen, it is still about a quarter of the level three months ago, according to data from The Block Research. An industry source said this could indicate that most buying is happening over the counter, describing the recent action as institutional entry through OTC trading.
● The BNB Smart Chain testnet is expected to be upgraded on June 29, involving three hard forks: Hertz, London, and Berlin
According to the official blog of BNB Chain, the BNB Smart Chain testnet will be upgraded at block height 31,103,030, expected to be on June 29, 2023. This upgrade involves three hard forks: Hertz, London and Berlin. Validators and full node operators need to switch their software versions to v1.2.7 before the specified date to avoid any potential interruptions.
The Hertz upgrade will migrate several London and Berlin upgrades from Ethereum to BSC, however, the differences between the two networks will lead to implementation differences, especially in EIP-1559, which is related to the fee market of the ETH 1.0 chain. related to changes. For example, BSC's BaseFee will be zero, which means that the current BSC Gas mechanism will not change, and no new combustion mechanism or GasTip will be introduced. The Hertz core upgrade builds on various Berlin and London upgrades, including Berlin's BEP-225, BEP-229, BEP-230, BEP-231 and London's BEP-227, BEP-226, BEP-228, BEP- 212. These upgrades will significantly change the gas metering mechanism, support new transaction types, add new EVM opcodes, and more.
● El Salvador is building an airport for its Bitcoin City
El Salvador is building an airport for its Bitcoin City project, Crypto News reported. About a month ago, YouTube user Albert Sánchez uploaded aerial footage of what he claimed to be construction workers working on the site. The airport will be called Pacífico Airport and will also be known as Bitcoin City Airport.
According to Criptonoticias, the construction of the airport will "go hand in hand with the construction of Bitcoin City". As part of the city construction project, El Salvador will build a site at the foot of the volcano, and geothermal power will be used to power the city and mine Bitcoin. The Salvadoran government first announced the plan in late 2021, saying that Bitcoin City would allow its residents to conduct tax-free businesses in the country where Bitcoin has legal tender status.
● FATF: Three-quarters of jurisdictions do not comply with global cryptocurrency money laundering regulations
According to CoinDesk, a statement issued by the global anti-money laundering regulator FATF said that nearly three-quarters of jurisdictions only partially comply with or do not comply with FATF's requirements on virtual assets. An upcoming report by FATF will urge jurisdictions to plug loopholes, focusing on new risks posed by decentralized finance and peer-to-peer transactions that do not use regulated intermediaries such as wallet providers.
● SEC has dropped its $30 million fine against BlockFi
The SEC has agreed to waive a $30 million fine against bankrupt cryptocurrency lending platform BlockFi until investors are repaid, a court filing showed on Thursday, CoinDesk reported. Under the agreement reached on June 22, the regulator claimed that its claims should be counted as part of the “general unsecured claims” in the ongoing Chapter 11 bankruptcy proceedings, but agreed to waive payment “in order to maximize the amounts distributed to investors and avoid delays in such distributions.”
The payment is the remainder of BlockFi’s $50 million fine to the SEC to settle charges that it failed to register with the regulator for offering and selling its crypto lending products. The platform agreed to the settlement in February 2022 but filed for bankruptcy in November following the collapse of cryptocurrency exchange FTX.