Scenius Sync (Issue #55)

Happy 4th of July! Nasdaq Refiles for BlackRock Spot Bitcoin ETF, FTX Exchange Reboot, Bitcoin Depot Goes Public, & BTC Price Reaches 1-Year High

Scenius: The intelligence and the intuition of a whole cultural scene. The communal form of the concept of genius.

Welcome to The Scenius Sync.

Our mission with this concise publication is twofold:

1. Share the essential stories driving the crypto industry and markets.

2. Highlight innovative applications and mainstream adoption of crypto and blockchain technology.

If you find this newsletter valuable, please subscribe and share The Scenius Sync with your network 💪

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Essential News 🗞

1. Nasdaq refiles for BlackRock spot bitcoin ETF, names Coinbase as surveillance partner

   • Nasdaq refiled a 19b-4 form for the iShares Bitcoin Trust, a spot bitcoin ETF with BlackRock at the helm. The move followed similar filings last week from the Cboe exchange. The exchange said it reached an agreement with crypto exchange Coinbase to enter into a surveillance-sharing agreement, with an expectation that a “definitive agreement” will be done ahead of trading.

   • Likewise, Cboe's BZX Exchange named Coinbase as the market for its surveillance-sharing agreement when it refiled its spot bitcoin exchange-traded (ETF) fund applications for several would-be bitcoin ETF issuers on Friday. See further coverage here. In its refiled applications, Cboe said Coinbase's platform "represents a substantial portion of U.S.-based and USD denominated Bitcoin trading" as it named the U.S. crypto exchange as its partner for these surveillance-sharing agreements.

2. FTX Begins Talks on Reboot Amid Regulatory Crackdown on Crypto Exchanges

   • FTX is moving ahead with plans to restart its flagship international cryptocurrency exchange, an effort that will face major challenges as regulators ratchet up their oversight of the industry and the company works its way through bankruptcy proceedings.

3. Hong Kong government sets up web3 task force to help 'build a thriving ecosystem'

   • The Hong Kong government has set up a task force to provide recommendations on the sustainable and responsible development of web3. The task force aligns with Hong Kong’s desire to reestablish itself as a global hub for the crypto industry.

   • Meanwhile, China appoints bitcoin skeptic as top Communist Party official at its central bank with this appointment putting a damper on hopes of a crypto revival in China, despite these more positive signs from Hong Kong.

4. Kraken ordered to turn over transaction information by courts

   • A federal court has ruled that cryptocurrency exchange Kraken must provide the Internal Revenue Service (IRS) with account and transaction information.

     The IRS requested this information to investigate potential tax underreporting by users of the exchange. The court petition was filed by the IRS in February after Kraken settled charges with the U.S. SEC related to its staking service violating securities law.

5. Thailand Follows Singapore, Bans Crypto Exchanges From Offering Lending Services

   • Thailand is the second Southeast Asian country to announce a ban on crypto exchanges offering lending services today, as the country’s regulators put investor protection at the forefront of their crypto strategy. Earlier, news broke that Singapore is banning exchanges from offering lending and staking services to retail customers. 

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Innovation & Adoption 💡📈

1. Bitcoin Hits Its Highest Price in Over a Year

   • Bitcoin notched its highest price in over a year on Monday, coasting upwards on news that BlackRock resubmitted its application for a spot Bitcoin ETF.

     The largest coin by market capitalization traded hands at $31,250 as of this writing, according to CoinGecko. It represents a gain of 2.4% over the past day and Bitcoin’s highest price since June of last year.

2. Crypto ATM Company Bitcoin Depot Launches on Nasdaq

   • Bitcoin ATM operator Bitcoin Depot today launched on the Nasdaq stock exchange, making it the first U.S. company of its kind to go public. 

     The company—one of the largest Bitcoin ATM operators in the country with 6,440 kiosk locations—last week announced its merger with blank check company GSR II Meteora. 

3. TON blockchain launches on-chain encrypted messaging feature

   • TON is a blockchain network forked from code created by the Telegram instant messaging app team. TON has always allowed users to send messages in transactions. But in the past, these messages were completely public. The new feature allows users to encrypt these messages end to end, making them readable only by the intended recipient.

4. Credit Suisse and Swiss Football Association To Release Women's Football NFT Collection

   • Swiss investment bank Credit Suisse is teaming up with the Swiss Football Association (SFA) to release a non-fungible token (NFT) collection supporting women’s football.

5. World's Oldest Operational Coin Mint Opens Doors to New NFT Exhibit in Paris

   • France’s la Monnaie de Paris, the world’s oldest active monetary institution—known for its centuries-old tradition of minting physical coins—has opened its doors to the very technology that seeks to disrupt its existence.