TL;DR

• Hong Kong Monetary Authority and mainland China are collaborating to study digital renminbi P2P transfers.

• Genesis has been approved to repay creditors billions of dollars.

• Insiders suggest the SEC likely won't approve an Ethereum spot ETF next week.

• Ghana and Singapore are conducting trade using a semi-fungible token pilot project.

• Coinbase's platform outage this week was caused by an error related to the Coinbase Card rewards service.

• The total asset management of two Chinese virtual asset ETFs has dropped below HK$1 billion.

Join the WAGMI Squad!

Join the squad to enjoy 20% discount on trading fees while we rally together to bag more Demex Points!

Grab Your 7 Day Free Trial

You're invited to upgrade your subscription to our Premium membership with a 7 day FREE trial!

No catches. No strings attached. Just pure crypto alpha to get you ahead!
Upgrade now for:

Ad-Free Experience 🚫👀
Weekly News Summary 📰🔥
Weekly Market Summary 💸📈
Weekly Airdrop Summary 🎁💎

All for just $15/month after the trial.
Don't miss out! Get your FREE trial today 👇

Alpha of the Day

East Meets Digital: HKMA and Mainland China Team Up on Digital Renminbi

The Hong Kong Monetary Authority (HKMA) is joining forces with mainland China to dive into the nitty-gritty of digital renminbi P2P transfers. It's like watching your tech-savvy grandparents finally figuring out Venmo, but on a grander, more official scale. This collaboration aims to make digital payments smoother than ever, turning cross-border transactions into a seamless, high-speed reality. Get ready for a future where sending money across the border is as easy as sending a GIF of a dancing cat.

Genesis: Ready to Make it Rain Billions

In a plot twist worthy of a financial thriller, Genesis has been given the green light to start repaying creditors to the tune of billions. Picture a high-stakes poker game where Genesis finally gets a royal flush. Creditors are eagerly lining up, rubbing their hands together, and hoping for their piece of the pie. It’s a major step forward in the company’s journey to rebuild trust and financial stability. Time to pay up and play nice!

Tianqiao Capital's Bold Bitcoin Prediction

Founder of Tianqiao Capital is putting on his futuristic glasses and seeing a world where institutions are hoarding Bitcoin like it’s the last slice of pizza at a party. He predicts that in the next few quarters, we’ll see a massive uptick in institutional Bitcoin adoption. So, if you thought Bitcoin was already the cool kid in the crypto playground, just wait until the big dogs start piling in. Grab your popcorn; the next few quarters are going to be wild.

Newsletter Bitcoin

Receive weekly Bitcoin summaries with news, insights and analysis on all things Bitcoin, all for free.

Jason Brink's New Chapter: From CEO to LFG Guru

Jason Brink, the mastermind formerly known as the CEO of Gala, is stepping into a new role as a consultant. He’s not just riding off into the sunset, though; he’s establishing an external organization called LFG (Let’s F***ing Go) to turbocharge Gala Chain’s development. Think of him as Gandalf, but instead of fighting orcs, he’s slaying development hurdles and blockchain challenges. It’s the dawn of a new era, and Brink is ready to lead the charge.

Ethereum ETF Approval? Don’t Hold Your Breath

Insiders are hinting that the SEC is about as likely to approve an Ethereum spot ETF next week as you are to find a unicorn in your backyard. It's looking bleak, folks. Despite the excitement and anticipation in the crypto world, it seems like the regulatory gods are in no rush to give Ethereum the green light. So, keep your expectations in check and maybe stock up on some patience. This one's going to take a while.

Ghana and Singapore's Token Tango

Ghana and Singapore are shaking things up with a semi-fungible token pilot project for trade. It sounds like something out of a sci-fi movie, but it’s happening now. Imagine trading with tokens that are as flexible as a yoga instructor. This project could revolutionize how international trade is conducted, making it more efficient and transparent. It’s a bold step forward, and the rest of the world is watching with bated breath.

Creator Spotlight

Behind-the-scenes stories from across the creator economy.

Subscribe to Blockbasis

A Safe Web3

Coinbase's Glitchy Week: Blame it on the Rewards

Coinbase had a bit of a hiccup this week, causing a platform outage that left users scratching their heads and shaking their fists. The culprit? An error related to the Coinbase Card rewards service. It’s like planning a big party and having the caterer forget the cake. While annoying, these technical snafus are part and parcel of the digital age. Coinbase assures everyone they’re on it, so you can go back to refreshing your crypto balances.

Chinese ETFs: The Big Drop

Two Chinese virtual asset ETFs just hit a new low, with their total asset management falling below HK$1 billion. It’s like watching your favorite band’s album sales plummet after a bad review. This drop signifies a challenging market environment and highlights the volatility of virtual assets. Investors are left pondering their next moves while the ETFs try to regain their former glory. It’s a tough crowd out there in the investment world.

Biden's Veto Drama: To Veto or Not to Veto

President Biden might be rethinking his stance on vetoing resolutions that overturn SEC SAB 121. It’s like deciding whether to hit the snooze button one more time. With the political and financial landscapes constantly shifting, this reconsideration could have significant implications for the regulatory environment. Everyone’s on the edge of their seats, waiting to see if Biden will change his mind and what that means for the future of financial regulations.

Big Desk Energy

Startup insights, stories, and vibes sent to your inbox every Tuesday.

Other Good Reads

The Crypto Nutshell
Get Smarter About Crypto. Join 60,000+ subscribers and get a newsletter on Crypto News & Expert Predictions all in a nutshell 💪

The Daily Munch
We make business news less boring (in your inbox 3x/week).

Crypto Profit 101
Our Top Crypto Pick Soared 103,913% Last Bull Run! Get our next 6 coin picks with 100X potential for 2024 bull run! Don't miss out this time!

Let’s Get Rich
Dive into wealth with 'Let's Get Rich': your weekly treasure trove of savvy investment insights, crypto cues, business openings, and cutting-edge AI tools, all crafted to fuel your fortune!

Get Supercharged
⚡️Exceed The Limits ⚡️ You are Joining the #1 Business AI Magazine read by 10,000+ business owners 🥳 As a thank-you gift we send you 10,000+ ChatGPT prompts.

The BRRR
We help you print money. Join the 6,000+ investors staying ahead of the AI and crypto markets.

The Founder’s Pack
Learn the tools, strategies, and stories of the world's best founders. Every week we share with you the best insights from our interviews with founders like Sam Parr, James Mikrut, and Kathryn Cross. Join 2700+ founders, investors, and startup fanatics for free.

Follow us on X

Check out the Podcast

Listen to crypto founders and our weekly roundup on your favourite podcast platform