31% of young Aussies hold crypto 🇦🇺, Etherscan launches Code Reader 🚀, UK's financial markets bill 🇬🇧
Daily Crypto, Blockchain & Web3 Update 2023-06-20
CRYPTOCURRENCY
Bitcoin reaches 50% market dominance for first time in 2 years (3 min read)
Bitcoin dominance, the measure of how much Bitcoin makes up the total crypto market cap, has breached the 50% mark.
On June 19 at 6 p.m. UTC, Bitcoin dominance hit just above 50% and has since settled to 49.9% at the time of publication, according to data from TradingView.
Crypto investment products experience outflows for 9th consecutive week (3 min read)
Last week, cryptocurrency investment products lost $5.1 million due to outflows, according to the "Digital Asset Fund Flows Report" by CoinShares, a European cryptocurrency investment company, published on June 19. The outflows contributed to the continuation of a nine-week streak of outflows, resulting in a cumulative total of $423 million.
31% of young Aussies hold crypto despite being ‘risk averse’ — ASX survey (3 min read)
While young Australians are more interested in crypto, it’s the 25- to 49-year-olds who own the most.
Despite seeing themselves as more “risk averse” than their older counterparts, nearly a third of all young Australian investors hold or have traded cryptocurrencies over the last year, a new study has found.
Fear of a digital euro prompts Slovakia to add cash rule to constitution (2 min read)
Slovakia will codify the right to use cash as a method of payment after a vote to amend the nation’s constitution passed in parliament on June 15.
The new legislation was sponsored by the Sme Rodina party, also known as the “We Are Family” party, and was reportedly drafted as a precautionary measure against the proposed digital euro.
BLOCKCHAIN
Binance’s BNB Chain introduces layer-2 testnet powered by Optimism (3 min read)
Binance-founded layer-1 blockchain BNB Chain has introduced a new layer-2 chain that it hopes will address its “scalability challenge.”
On June 19, BNB Chain unveiled opBNB, which has launched as a testnet. Binance is using Optimism OP Stack to enhance security and scalability in its blockchain network with a new layer-2 scaling solution.
BUSINESS
Etherscan launches AI-powered Code Reader (2 min read)
Etherscan released a tool called "Code Reader" to retrieve and interpret a contract address's source code using artificial intelligence on June 19th. After a user inputs a prompt, Code Reader generates a response via OpenAI’s large language model, providing insight into the contract’s source code files.
Crypto lender Delio to resume withdrawals after counterparty contagion (2 min read)
According to a recent report by local news outlet Decenter, South Korean crypto lending platform Delio will resume withdrawals, albeit with no fixed schedule, after pausing them on June 14. The CEO, Jung Sang-ho, said in a meeting with investors on June 17 that Delio would raise as much money as it could to pay back users. Withdrawals by users will be done gradually. No details regarding the specific repayment period, method, or amount of damage were disclosed, however.
Binance denies affiliation with entity registered in UK (3 min read)
Binance has denied claims that it's been using a small building shared with thousands of other companies as its registered office in the U.K.
On June 19, a post on the r/buttcoin subreddit showed a so-called “utility closet” that a firm called Binance Ltd uses as a registered office address in the U.K.
Realtor may have accepted $3M offer for Washington, DC property linked to Sam Bankman-Fried (2 min read)
The Washington, D.C. townhouse owned by Guarding Against Pandemics was listed as “contingent” on a real estate website, suggesting the party handling the deal has accepted an offer.
Someone might buy a property connected to a cryptocurrency company called FTX and its ex-CEO, Sam Bankman-Fried, in Capitol Hill, Washington D.C.
QUICK LINKS
Deutsche Bank reportedly applies for digital asset custody license from BaFin (2 min read)
Germany’s largest banking institution, Deutsche Bank, has reportedly applied for a digital asset custody license from the country’s financial regulator, the Federal Financial Supervisory Authority, or BaFin, in a bid to expand its revenue streams, Bloomberg reported.
UK government moves forward on financial markets bill for potential regulation of crypto (2 min read)
Following a third reading in the House of Lords, the Financial Services and Markets Bill will return to the lower house of the U.K. Parliament for members to consider any changes.
Lawmakers in the upper house of the Parliament of the United Kingdom are moving forward with legislation that could help support the adoption of crypto in the country.
European Investment Bank taps blockchain for Climate Awareness Bond (2 min read)
The European Investment Bank (EIB) has issued a blockchain-based digital bond powered by environmentally-incentivized node infrastructure.
An announcement from the financial institution outlined the key points of a “digital native green bond” denominated in Swedish krona. The 1 billion krona bond is set to offer a 3.638% fixed rate over two years to institutional investors.