Weekly Update: 23 Mar 2023
1) New York Community Bank will acquire Signature — but not crypto holdings [Blockworks]
– An estimated $4 billion in cryptoassets will remain under the receivership of the FDIC.
2) New York Magazine’s Intelligencer reported that JPMorgan, is opening new accounts for crypto firms including venture capital funds and Web3 infrastructure start-ups [Blockworks]
– Aside from JPMorgan, Citi is said to be another big bank that has been receptive to crypto clients.
3) Core Scientific to transfer $20M of equipment to settle bankruptcy dispute [Cointelegraph]
– Millions of dollars worth of electrical equipment will be transferred to the crypto miners’ exclusive energy negotiator to settle a payments dispute.
4) Immutable and Polygon Labs team up to expand the Web3 gaming ecosystem [CoinDesk]
– The strategic partnership is aimed at simplifying the process of onboarding game studios and developers into Web3.
5) Mastercard to settle transactions for stablecoin wallet in APAC [Cointelegraph]
– Mastercard has entered a collaboration that would allow retail customers in the APAC region to spend their stablecoins anywhere Mastercard is accepted.
6) Microsoft Edge testing built-in Ethereum crypto wallet, screenshots show [Blockworks]
– Users can also manage multiple Ethereum accounts and choose between the built-in Edge wallet or an extension.
7) A new report from the White House blasts digital assets as failing to live up to their purported initial promise and raising risks for both consumers and the entire U.S. financial system [The Block]
– The critiques in the report to Congress may signal a shift in approach from agnostic to openly adversarial toward digital assets.
8) EU’s MiCA crypto law debate scheduled for April 18 [CoinDesk]
– A final vote on the bloc’s Markets in Crypto Assets Regulation, which brings in a new licensing regime, is due April 19.
9) Florida Gov. Ron DeSantis proposes law to ban CBDCs [CoinDesk]
– The Biden administration is studying the possibility of introducing a central bank digital currency.
10) Turkey’s Metatime raises $11 million in seed funding amid rising crypto adoption [The Block]
– Metatime raised $11 million in equity and token funding. The Turkish crypto startup is developing an exchange, wallet, blockchain, NFT marketplace and a stablecoin.
