El Salvador Furthers Bitcoin Adaption, HSBC Announces Token Custody
Circle's IPO Vision, LINK's Premium Highs, Binance's Wallet Game-Changer
Welcome to Coinfeeds Daily Digest, your snapshot of the crypto landscape! Today, we spotlight El Salvador’s leap into Bitcoin adoption with Distribuidora Morazán, and HSBC's partnership with Metaco to launch a new digital asset custody service. Circle is considering an IPO in 2024, while Grayscale's Chainlink Trust records a soaring premium. The Graph gears up for AI-assisted querying on a decentralized network, Binance unveils a new self-custody wallet impacting TrustWallet's TWT, and Wintermute levels serious accusations against NEAR Foundation and Aurora. Amidst these developments, Bitcoin prices soar, reflecting a wider altcoin rally.
Market Update
News
El Salvador's Distribuidora Morazán, Supplier to Over 40k Merchants, Accepts Bitcoin, Promoting Business Adoption
In a significant move towards cryptocurrency adoption, Distribuidora Morazán, a supplier to over 40,000 merchants in El Salvador, has started accepting Bitcoin. This strategic decision is aimed at fostering business-to-business Bitcoin adoption in the country. | Read More
HSBC to Launch New Custody Service for Tokenized Securities in Partnership with Metaco
HSBC, one of the world's largest banking and financial services organizations, is set to launch a new custody service for digital assets in collaboration with Ripple-owned tech firm, Metaco. The new service, which is part of HSBC's broader blockchain strategy, will debut in 2024. | Read More
Circle Considers IPO in 2024, Following Failed SPAC Attempt
Circle, the company behind the USDC stablecoin, is reportedly considering an initial public offering (IPO) in 2024. This news comes after a failed attempt to go public via a Special Purpose Acquisition Company (SPAC) in 2022. The potential IPO would mark the first time that Circle publicly offers shares. | Read More
Grayscale Chainlink Trust Sees Unprecedented Premium, LINK Tokens Gain Traction
The Grayscale Chainlink Trust, a regulated investment product that provides U.S. investors with exposure to Chainlink's native token, LINK, is currently trading at a 200% premium to spot prices. This is the highest premium ever recorded for the trust, indicating a significant increase in institutional demand for LINK. | Read More
The Graph Introduces AI-Assisted Querying and Transitions to Decentralized Network
The Graph is set to introduce a host of new features, including AI-assisted querying with large language models. This significant upgrade aims to enhance the project's capabilities and further its mission of enabling web3 developers to access blockchain data without the need for centralized intermediaries. | Read More
Binance Launches Self-Custody Crypto Wallet, Impacting TrustWallet's TWT
Binance recently unveiled a self-custody crypto wallet at a conference held in Turkey. The new wallet is designed to facilitate user interaction with web3, the decentralized internet powered by blockchain technology, without the typical hurdles associated with seed phrases and complex onboarding processes. Following the announcement, TrustWallet's native token, TWT, experienced a 7% drop. TrustWallet, which was acquired by Binance in 2018, also offers a platform for users to store and utilize cryptocurrencies across the DeFi ecosystem. | Read More
Wintermute Accuses NEAR Foundation and Aurora of Breach of Contract
Wintermute, a prominent liquidity provider, has accused the NEAR Foundation and Aurora of reneging on a deal to convert $11 million worth of USN stablecoins. This accusation has sparked controversy in the crypto community and could potentially lead to legal action. | Read More
Bitcoin Price Surges to $35,500 Amid Altcoin Rally and Risk-On Sentiment
Bitcoin, has seen a significant surge in its price, reaching a high of $35,500. This surge has been attributed to a widening altcoin rally and a risk-on sentiment in traditional markets. The total value of the market has reached a 16-month high, with the market capitalization topping $1.31 trillion, the highest since May 2022. | Read More