Twenty One Capital, backed by Cantor Fitzgerald and Tether, may begin issuing US dollar loans using Bitcoin as collateral. Twenty One Capital is reportedly exploring a strategy that would allow it to issue US dollar loans backed by Bitcoin collateral, Bloomberg reported Wednesday, citing a person familiar with the matter. “Optionality is wealth; for us everything is on the table because we think we can do anything,” a spokesperson for the crypto company reportedly said. Twenty One Capital, backed by Cantor Fitzgerald, has expanded its Bitcoin holdings to at least 43,500 BTC, about 1,500 Bitcoin (BTC) more than originally projected. The company recently acquired about 5,800 BTC from stablecoin issuer Tether, pushing its total holdings to an estimated $5.13 billion at current prices. Read more
Coinbase and JPMorgan Chase partner to bring crypto purchases, stablecoin rewards and direct bank integrations to Chase customers. JPMorgan Chase has partnered with crypto exchange Coinbase to introduce crypto integrations to its customers, a step in bridging traditional finance with digital assets. Coinbase announced Wednesday that Chase credit card holders can use their cards to buy crypto on Coinbase starting this fall. In addition, Coinbase said JPMorgan’s customers will also be able to redeem their Chase Ultimate Rewards Points for USDC (USDC) in 2026. Coinbase said this will be the first major rewards program redeemable for crypto. “For the first time, points from a major credit card rewards program will be redeemable for crypto rewards,” Coinbase said. Read more
Ethereum turns 10 as corporate treasury firms and Wall Street entities increase their Ether holdings, signaling growing institutional adoption. Corporations and Wall Street entities are starting to recognize Ether as the next emerging treasury asset as the world’s second-largest cryptocurrency and blockchain network celebrates its 10th anniversary on Wednesday. Ethereum went live on July 30, 2015, introducing smart contract functionality and laying the foundation for the decentralized finance (DeFi) ecosystem. The network has maintained 10 years of uninterrupted uptime. To mark the milestone, Cointelegraph reviewed the five largest corporate Ether (ETH) holders, underscoring Ether’s rising status as a strategic reserve asset among public companies. Read more
From the ICO craze and CryptoKitties to the Merge and spot ETFs, Ethereum’s first decade is a reflection of crypto’s most chaotic and innovative moments. Ethereum celebrated its 10-year anniversary on Wednesday, with renewed institutional momentum fueling hopes that Ether (ETH) could challenge its all-time high that was set in November 2021. Over the past decade, Ethereum has become the largest decentralized finance (DeFi) blockchain, with nearly $85 billion in total value locked (TVL) at the time of writing. Vitalik Buterin, Ethereum’s co-founder, circulated an early version of the white paper in 2013. The project raised $18.3 million in its initial coin offering (ICO) and officially launched in 2015 as a blockchain for smart contracts. Its cryptocurrency, Ether, now ranks as the second-largest cryptocurrency by market capitalization after Bitcoin (BTC). Read more
A Kraken executive told Cointelegraph that tokenized equities shouldn’t just copy Wall Street onto the blockchain but reinvent how users access financial assets. As traditional finance becomes more intertwined with blockchain technology, a Kraken executive said simply bringing traditional financial products onto a blockchain won’t cut it and is not the end goal for tokenization. Mark Greenberg, the global head of Kraken’s Consumer Business Unit, told Cointelegraph that tokenized equities must go beyond replicating Wall Street systems onchain. Instead, he said they should unlock new levels of accessibility, programmability and global reach. He argued that it’s an opportunity to fundamentally rethink how global markets function when it comes to accessibility, programmability and user access to legacy tools. Read more
Most of XRP’s recent losses occurred during the $175 million transfer period linked to the Ripple co-founder. Key takeaways: Over 93% of XRP supply is in profit resulting in a profiting-taking spike. Whale activity and theft headlines have amplified XRP’s downside pressure. Read more
Hong Kong will begin enforcing its new stablecoin regulations on Friday, with a six-month transition period allowing temporary licenses for issuers. The Hong Kong Monetary Authority (HKMA) will implement a six-month transition period with special rules as part of its new framework for stablecoins, which is set to take effect on Friday. According to a Wednesday report by local news outlet Radio Television Hong Kong, the HKMA will introduce a six-month transitional arrangement as the new stablecoin framework becomes active. The provisional rules also include the issuance of temporary licenses to issuers capable of complying with regulatory requirements. However, if a Hong Kong stablecoin issuer fails to comply with the new rules within three months, they will be required to wind down their operations within four months. Issuers that the HKMA believes cannot comply with the new rules will be forced to cease operations within a single month of receiving their notice, the report said. Read more