The fights of Binance make headlines

Binance dominated the headlines this month thanks to its regulatory challenges and his desire to become a listed company in the USA

Binance fought with regulatory challenges

The leading cryptocurrency exchange Binance had to deal with regulatory challenges this month. The challenges began when the British Financial Conduct Authority (FCA) of the Binance Markets Limited banned the company in the region because it did not have the necessary operating permit. This resulted in some banks and financial institutions drastically against Binance. Barclays and Santander blocked customer deposits at Binance, and Clear Junction also cited the processing of payments to the cryptocurrency exchange. Binance briefly stopped deposits from Europe's critical payment network: the single Euro Payments Area or Sepa.

This was followed by a warning in Italy, in which the Italian supervisory authorities announced Binance that it did not have the license for the company in the country. Binance took some measures to reduce the heat. The crypto tour has set the sale of tokenized shares on its platform. It previously allowed tokep with tokenized stocks such as Tesla, Microsoft and Apple. However, Binance no longer offers this service. The cryptocurrency exchange is also looking for ex-government managers in different countries to support them in navigation by the regulatory waters.

Binance and Circle express interest in an IPO

The number of cryptocurrency companies that want to go to the stock exchange has increased. Despite its regulatory problems, Binance has announced that it is considering an IPO (IPO) in the United States. CEO Changpeng Zhao said that the company was to build up the structures and as soon as everything is ready, it would be easier for them to carry out an IPO. However, he added that an IPO was currently not in its immediate plans.

Another company that shows interest is the stable coin emittent circle. The company behind the USDC stable announced that it will be listed on the New York stock exchange under the "CRCL" ticker with an evaluation of $ 4.5 billion. Kraken and Gemini are other cryptocurrency companies that are also planning to go to the stock exchange in the coming months.

Elon Musk has large cryptocurrency stocks

Elon Musk is a popular figure in the world of cryptocurrencies, especially for the support of Dogecoin. However, he recently admitted that he still has a considerable amount of Bitcoin and Ether. Despite his recent criticism of Bitcoin, Musk said that he had more of it than any other cryptocurrency. During a recent conference, Musk said that Tesla and SpaceX hold both Bitcoin. He added that Tesla could soon accept Bitcoin as a payment method.

cryptocurrency ETFs are becoming increasingly popular because institutions scream after access

Institutional investors require access to cryptocurrencies, and one of the best ways to achieve this are stock exchange -traded funds (ETFs). Canada remains ahead of other countries in terms of cryptocurrency ETFs, but Brazil is not far behind. At the beginning of this month, the South American nation approved an Ethereum ETF a few months after the introduction of a Bitcoin ETF. The stock market -traded fund is intended to facilitate access to the second largest cryptocurrency.

In the United States, the Securities and Exchange Commission (SEC) must approve a single Bitcoin ETF proposal, and it has to check two ether ETFs. However, Goldman Sachs did not stop this from setting up another ETF. This ETF will pursue the performance of leading blockchain companies and units in the field of decentralized finances (Defi). According to the investment bank, the ETF will try to provide investment results that map the performance of the Solactive Decentralized Finance and Blockchain Index. The bank said that the blockchain companies noted in the ETF would not be limited to the United States because the cryptocurrency area is active worldwide.

The institutional approach was not yet over, and JPmorgan also took a big step at the beginning of this week. According to reports, the investment bank began to enable its wealthy customers to get involved in cryptocurrencies via funds such as Grayscale’s Bitcoin Trust, Bitcoin Cash Trust, Osprey Funds ’Bitcoin Trust, Ethereum Trust and Ethereum Classic Trust. JPMorgan sent his financial advisors a memo in which they are asked to accept orders from wealthy customers to buy and sell this cryptocurrency funds.

Grayscale on his part has launched a new fund that aims at the defi sector. The Grayscale Defi Fund offers institutional investors through a portfolio that has weighted according to market capitalization access to numerous industry-leading defi protocols. Investors would enter into the top defi token like Aave, Uniswap and more through this fund.

PayPal and Square expand their presence in the crypto area

Square, Jack Dorsey's payment company, admitted this month that it is working on the development of a dedicated Bitcoin hardware wallet. The wallet and the service should make Bitcoin custody a mainstream, and it is expected to offer multi-sig or multi-signature transactions. According to Square, the Bitcoin hardware wallet will be available worldwide and make people easier and safer to save their bitcoins.

Another payment giant, PayPal, said that he is working on a super app for cryptocurrencies and expects to introduce them very soon. The CEO of PayPal, Dan Schulman, announced this during the company's Q2 investor update and explained that its users would soon enjoy additional cryptocurrency functions. PayPal will introduce the app to its US customers in the coming months before making users available in other parts of the world. It is expected that the app offers various functions such as high return savings, messaging functions, additional cryptocurrency functions and more.