Over 50% of Fortune 100 Companies Have Invested in Crypto or Blockchain Initiatives Since 2020: Coinbase Report
June 22 (Cointime) - A new report by Coinbase has found that over 50% of Fortune 100 companies have been investing in crypto or blockchain initiatives since the beginning of 2020. The report, titled The State of Crypto: Corporate Adoption, also revealed that 70% of Fortune 100 companies with crypto initiatives were in the publicly launched stage as of Q2 2023.
UK Lobby Groups and Crypto Companies Support Digital Pound, but Call for Interoperability with Crypto for Future-Proofing
June 22 (Cointime) - Lobby groups and crypto companies in the UK generally support the government's plans for a digital pound, but some suggest it should be interoperable with crypto to be future-proof.
Former Coinbase Japan CEO Joins Fidelity-Backed Investment Firm As Venture Partner
June 22 (Cointime) - Nao Kitazawa, the former CEO of Coinbase Japan, has been hired as a venture partner by Eight Roads Ventures, a Fidelity-backed investment firm with assets worth over $11 billion. Kitazawa left Coinbase Japan in February of this year after working at the company for nearly five years.
Understanding the Tax Implications of Crypto Airdrops in Different Countries
June 22 (Cointime) - Crypto and NFT airdrops are events organized by crypto startups to increase their popularity and attract a community around their products or services. Users are rewarded for completing various tasks such as following the project on different channels, sharing a post, referring a friend, or registering on an airdrop page.
Former Traditional Bankers Pivoting to Crypto Remain Bullish on Industry's Future
June 22 (Cointime) - Former traditional bankers who have pivoted to crypto remain optimistic about the industry's future and enjoy the freedom to take innovative risks. Lisa Wade, former head of innovation and sustainability at National Australia Bank, has joined DigitalX as its new CEO, citing the opportunity to "build something great" in a way that a bank couldn't.
Hong Kong Urged to Follow Japan and Singapore's Lead in Web3 and Crypto Development, Says Government Study
June 22 (Cointime) - A government study by the Research Office at Hong Kong's Legislative Council has recommended that Hong Kong should learn from Japan and Singapore in its efforts to develop and embrace Web3 technologies and crypto.
Federal Reserve Chair Acknowledges Stablecoins as a Form of Money in House Testimony
June 22 (Cointime) - During a US House Financial Services Committee meeting, Federal Reserve Chair Jerome Powell acknowledged that stablecoins are a form of money, contradicting the SEC's harsh stance on cryptocurrency. Powell stated that stablecoins borrow trust from their underlying issuer and may experience runs if their reserves do not contain enough high-quality assets, highlighting the need for regulation. He also acknowledged the value of crypto as a hedge against volatility and rising inflation, but emphasized that the Fed will always be the main source of trust behind money and will continue to set rates and fiscal policy.
Crypto Claims Exchange OPNX Partners with 3AC Ventures for Decentralized Future
June 21 (Cointime) - Crypto claims exchange OPNX, founded by former Three Arrows Execs Su Zhu and Kyle Davies, has partnered with 3AC Ventures to invest in projects building towards a decentralized future.
Technical Development Monthly Report: June 2023
Technical Development Monthly Report: June 2023
Web3 Payments Startup Ramp Expands Services to Include 40 More Global Currencies, Including Brazilian Real and Mexican Peso
June 21 (Cointime) - Web3 payments startup Ramp has expanded its services to include 40 more global currencies, allowing customers to convert into crypto using something they are familiar with and avoid fees for exchanging foreign currencies. The company's technology is now available in over 150 countries, including South America where Ramp is keen to expand, particularly in Brazil where the central bank has a friendly stance towards crypto.
