New Bitcoin ETF Attempt, Diem’s Move, Ripple vs. SEC + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.

Crypto adoption news

• NYDIG, a Stone Ridge-run subsidiary firm that provides crypto services to institutional investors, aims to launch a Bitcoin exchange-traded fund (ETF), per a filing with the US Securities and Exchange Commission (SEC). NYDIG Bitcoin ETF is an exchange-traded fund that issues common shares of beneficial interest that trade on NYSE Arca, the company said.
• Celsius (CEL), a crypto lender and rewards-earning platform, said that since its launch in mid-2018, it has distributed cryptocurrency rewards in value of over USD 250m (in yesterday’s value) to its 415,000+ users. Celsius generates yield on crypto through its crypto-lending business and diversified deployment channels, it added.

Diem news

• Digital asset storage, transfer, and issuing platform Fireblocks and digital payment platform First announced a wallet and infrastructure for financial institutions to connect to the Facebook-backed Diem (formerly, Libra) network to facilitate transactions, enabling their clients to utilize Diem as a payment method within existing consumer experiences.

Legal news

• Counsels for the SEC, Ripple, and two its executives “do not believe there is a prospect for settlement at this time,” the parties said in a letter to Federal Judge Analisa Torres at the US District Court for the Southern District of New York. “Defendants agree with the statement, but note that previous settlement discussions took place under a previous administration and were principally with relevant division directors who have since left the SEC,” Ripple and its executives added.

CBDCs news

• It would be wrong to assume that an e-krona will “function off-line and anonymously,” Sweden’s Riksbank said, as reported by Bloomberg. All central bank digital currencies (CBDCs) will need a ledger that keeps track of ownership, regardless of whether such currencies are token-based, distributor-ledger technology-based or blockchain-based, according to the central bank.
• Two of Russia’s biggest mobile operators said they want to develop wallets capable of storing digital ruble tokens – and are keen to work with the Central Bank on its CBDC project. Per Izvestia, Beeline – the network operated by the telecom giant PJSC VimpelCom – and MegaFon (previously North-West GSM) told the media outlet that they were keen on developing smartphone solutions and associated service for a digital ruble, allowing customers to “store [CBDC] funds, transfer and pay with them.” The Central Bank is planning to launch a pilot for its token later this year.

Investments news

• Arcane Crypto said it has entered into a term sheet with Lucerne Capital Management and Klein Invest AS regarding an investment of approximately USD 6m in Arcane Crypto. Final documentation regarding the transaction is expected to be signed and completed as soon as practically possible, they added.

Blockchain news

• Unstoppable Domains, the company building blockchain domain names, has announced a new service offering, using Cloudflare‘s Distributed Web Resolver, that should allow decentralized blockchain domains to be accessed “by anyone, from any browser, anywhere in the world.” Now anyone can type in a .crypto domain just like a .com to view a decentralized website, they said, adding that over 500,000 blockchain domains have been registered via Unstoppable Domains.
• The Russian federal subject republic of Tatarstan is set to welcome a “halal digital blockchain ecosystem,” reported Komsomolskaya Pravda Kazan. The details of the project were unveiled in a presentation at the Al-Marjani Mosque and might see blockchain technology adopted for a range of services. Among the plans included a proposal for a digitized halal product labeling system – to provide a fully traceable farm-to-table platform for customers in the predominantly Muslim republic.
• A new business deal worth USD 3bn between the UAE and Ukraine contains a number of blockchain technology-related business agreements. Per Ukrrudprom, the deal will involve the possible co-creation of a sovereign fund for joint investments, and will see the nations’ government and private companies on an intellectual property exchange platform based on blockchain technology. The nations also plan to introduce blockchain technology into a range of government processes and services.