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Crypto Flipsider News – July 21st – Circle’s Latest Acquisitions, The European Commission, Crypto Unicorn, Cathie Woods and Rothschild, NFT news

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Circle’s Latest Acquisitions: Partnership with Mastercard and the Source of USDC’s Backing Revealed

One of the biggest and oldest crypto companies, Circle, released a double bout of news today. First of all, they have partnered with Mastercard for ease of crypto payments via regular credit/debit cards. As Circle is the issuer of the stablecoin USDC, Mastercard will use it as a bridge for those who want to pay in crypto.

Moreover, they revealed the sources backing their currency. As was to be expected, the sources vary, but the fact is they cover 100% of the total supply.

Flipsider:

The European Union Has Called for Restrictions on Anonymous Crypto Wallets

The European Commission (EC) has placed stricter regulations on anonymous cryptocurrency transfers. The executive branch of the European Union, the EC, confirmed a proposal which mandates all crypto service providers to ensure full traceability of cryptocurrency transactions, including the names of digital asset wallet owners.

The tighter regulations are expected to help combat counterfeit money laundering and terrorism financing.

The plan also includes a proposal to create a new EU authority, the AMLA, to supervise the riskiest financial institutions and fight money laundering, which still is a significant problem worldwide.

Flipsider:

The Crypto Unicorn Herd Runs: The FTX Exchange and OpenSea

The crypto world reached a new high today. Though it’s not a new record in total crypto capitalization, the event still calls for champagne. This is at least the case for Sam Bankman-Fried, whose crypto exchange FTX, had the largest funding round in crypto history. The exchange attracted more than 60 investors, including Sequoia and Paradigm. The total inflow amounted to $900 million, and at the time of writing, the exchange is valued at $18 billion.

OpenSea became the latest crypto unicorn after raising $100 million in a round of funding. At the same time, the company announced its support of the Polygon blockchain, which made fees for trades on OpenSea free-of-charge.

Flipsider:

Whales spotted again: Cathie Woods and Rothschild Investment Corp buy the dip

In this time of Bitcoin price correction, institutional investors have once again increased their crypto portfolios.

Flipsider:

NFT news: The Sacramento Kings & Toronto Raptors Have Launched NFT Collections. Sushi Gives away “LSD” NFT. Rolex NFT

Flipsider:

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