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This Week in Crypto

July 11, 2021
Over the weekend, Valkyrie, a crypto asset manager, raised a $10 million series A round.

On Monday, 

Barclays announced they will no longer be making payments to Binance. 

“As you’ve made a payment to Binance this year, we wanted to let you know that we’re stopping payments made by credit/debit card to them until further notice. This is to help keep your money safe. For further info, please search FCA Binance online. We’re sorry for any disruption this may cause you.” 

On Tuesday,

FinCEN hired a Chief Digital Currency Advisor, Michele Korver. 

"FinCEN’s leadership role in the digital currency space by working across internal and external partners toward strategic and innovative solutions to prevent and mitigate illicit financial practices and exploitation,” stated the agency.

On Wednesday,

Bank of America has created a digital asset team, led by Alkesh Shah. 

Sygnum Bank became the first bank to offer Ether staking. Thomas Eichenberger, the Swiss bank's head of business units, said: 

“With Ethereum powering the exponential growth of decentralized finance applications, staking is a compelling choice for long-term Ethereum investors also seeking attractive yields.”

On Thursday,

Paraguay's congress will be hearing a Bitcoin bill on July 14 with the intention of following in El Salvador's footsteps. The bill will be introduced by Congressmen Carlitos Rejala and Senator Fernando Silva Facetti. 

Santander UK followed in Barclay's footsteps, banning payments to Binance. 

On Friday, 

Tiktok has banned crypto ads on its platform. It has prohibited financial services marketing as well. 


For more information on these stories, visit: 

https://www.prnewswire.com/news-releases/crypto-asset-manager-valkyrie-investments-announces-series-a-fundraise-301323050.html

https://www.coindesk.com/u-k-bank-barclays-blocks-payments-to-binance

https://www.fincen.gov/news/news-releases/fincen-welcomes-first-ever-chief-digital-currency-advisor-and-first-director

https://www.bloomberg.com/news/articles/2021-07-08/bofa-debuts-cryptocurrencies-research-team-led-by-alkesh-shah

https://www.ftadviser.com/your-industry/2021/07/08/tiktok-bans-investment-promotions/

https://news.bitcoin.com/tiktok-bans-users-promoting-cryptocurrencies/

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