Banks and Institutions
HSBC and IBM announced the successful test of an advanced token and digital wallet settlement between two central bank digital currencies, or CBDCs. The experiment consisted of transactions between CBDCs, eBonds, and forex. IBM’s Hyperledger was used for the transactions, and the project was overseen by Banque de France.
Bitwise has launched an index fund tracking the 10 largest non-fungible token collections: the Bitwise Blue-Chip NFT Index Fund will purchase and hold in custody NFTs from CryptoPunks, Bored Ape Yacht Club and eight other collections. Investments can be made by accredited investors with a minimum investment of $25,000.
DeGenData.eth, a data provider for non-fungible tokens (NFTs), is being put up for sale. But the sale is linked to the purchase of a cryptopunk NFT. The CryptoPunk — and the business — will be offered for sale at a price of 420.69 ETH. “NFTs aren’t just profile pictures. They are becoming the value of what you create around them.” the team wrote.
Chainalysis revealed that scams stole over $7.7 billion over the year. The most common form of scam was the classic rug pull, where developers launch a scam project, rope in investors, and then abandon the project, with a total of $2.8 billion stolen.
BitMEX, a well-known derivatives exchange, is set to launch its own token and will airdrop to both its existing and new users. BMEX tokens will have a maximum supply of 450 million units. They will be minted at once and vested over a period of up to 5 years. The large majority of BMEX will be spent to reward users, and the company will buy and burn BMEX tokens every quarter.
Justin Sun is moving to focus on crypto legitimization in Latin American countries. He will become an ambassador of the Grenada government to the World Trade Organization (WTO). The Tron blockchain, which is not doing so good on the market, is going to be left to TRON token holders.
Five parachains went live this week — Acala, Astar, Clover, Moonbeam, and Parallel Finance. Nearly 99 million DOT, worth approximately $2.4 billion, was garnered by the five projects during the auction period. A series of additional parachain auctions are currently live.
The rotocol Grim Finance reported $30 million in losses due to an exploit of the platform’s deposits. Running on the Fantom blockchain, Grim allows users to stake liquidity provider tokens by employing complex vault strategies.