The biggest crypto news and ideas of the day |
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Welcome to The Node! This is Daniel Kuhn here to take you through the latest in crypto news and why it matters. In today's news:MasterCard is working with Binance again. Robinhood plans to pay $200 million, cash, for Bitstamp. Franklin Templeton mulls launching a crypto-focused fund. The Sandbox has raised $20 million in a down round. And Core Scientific rejects CoreWeave's $1 billion buyout bid. The takeaway: Crypto's latest privacy battle isn't about crypto, per se, but instead another gross overreach of regulatory authority. The SEC's newly enacted Consolidated Audit Trail, a.k.a. CAT, will be the the largest database of securities transactions ... ever, crypto law experts Marisa Coppel and Amanda Tuminelli write. |
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Early-bird passes are now on sale for Consensus Hong Kong and Consensus Toronto!
Special Offer: Use code 2FOR1 to get two Consensus Hong Kong Pro passes for the price of one ($299) or two Consensus Toronto Pro passes for the price of one ($399). This is your chance to get the lowest possible price on next year's Consensus events! Hurry! This deal ends on June 13. Register now. |
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Trading platform Robinhood has agreed to buy the U.K.-based crypto exchange Bitstamp for $200 million in cash. The acquiree, founded in 2011, is one of the largest exchanges in Europe, and represents a “major step” for Robinhood as it expands its crypto presence globally and attracts institutional clientele. Barclays Capital and Galaxy Digital advised Robinhood and Bitstamp on the sale, the firms said. The deal is expected to close in early 2025. |
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Established metaverse platform The Sandbox has raised $20 million at a $1 billion valuation, a steep decline from its $4 billion valuation in 2022. Kingsway Capital and Animoca Brands led the round, which will pay for new features including a metaverse for mobile devices expected to launch next year. |
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A Crypto-Backed Mastercard? Yes. We all know the real reason crypto is still such a niche asset: Merchants don’t accept it, at least not at scale. But what if they don’t know that’s what the consumer is paying with? What if, as far as the seller is concerned, they receive payment in their preferred currency? They’re not likely to care that up until the crypto wallet tap, the value was denominated in bitcoin, ether or some more obscure coin. That’s the part that Crydit figured out. Continue reading |
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