Crypto-Enabled Investment App eToro Gets Ready to Issue Debit Cards in UK

The crypto-enabled investment app eToro is set to launch its debit card in the United Kingdom as it acquired Marq Millions Ltd, a licensed e-money business holding a principal Visa membership. As reported by TechCrunch on July 29, eToro “acqui-hired” Marq Millions Ltd., a U.K.-based e-money provider for an undisclosed sum. The company will now be doing business as eToro Money and will be the direct issuer of eToro’s planned debit card. Marq Millions’ management team will stay on in the eToro Money division.  The debit cards, whose launch date…

Monex’s US Subsidiary TradeStation to Launch Crypto Lending Service

United States-based TradeStation, a subsidiary of Japanese firm Monex Group, is planning to launch a crypto lending service. The plan was announced in Monex’s earning report published on July 29. Called “Crypto Earn” the new lending service is “C2B2B” that lends institutions borrowed assets from clients.  Last November, TradeStation launched a cryptocurrency brokerage platform via a newly-launched offshoot called TradeStation Crypto. They initially supported Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), Litecoin (LTC) and Ripple (XRP).  TradeStation launched its app this month and currently, crypto trading is available in 40…

Aave Ascends Market Rankings as Flash Loans Explode

Decentralized finance (DeFi) loan protocol Aave has seen an explosion in the number of flash loans issued — with the daily value of said loans growing more than 1,000% since the start of July from $11 million to more than $130 million as of July 27. The record loan issuance has seen Aave ascend to rank as the fourth-largest DeFi protocol by locked funds, with nearly $392.9 million in capital currently tied to the project, according to DeFi Pulse. The value of Aave’s LEND token has also exploded by nearly…

Data Breach at Crypto Wallet Firm Ledger Exposes User’s Personal Info

Major cryptocurrency hardware wallet provider Ledger has alerted customers to a data breach it faced in June and July. In an email on July 29, the company said it was made aware of the breach on July 14 when a researcher participating in its bounty program reached out with details of a potential vulnerability on their website. While they were able to fix the breach immediately, a further investigation by the team found that an authorized third party carried out a similar action on June 25.  The individual used an…

Gold ‘Harder to Confiscate’ Than Bitcoin as Searches Spike

Bitcoin (BTC) loses to gold when it comes to how easy it is to transport and confiscate, says Peter Schiff. In a tweet on July 29, the gold bug and infamous Bitcoin skeptic claimed that it was easier to move and preserve ownership of the precious metal. Gold is “absolutely transportable” “Gold is absolutely transportable and harder to confiscate than Bitcoin,” Schiff wrote. The comment caused an instant backlash, with BTC proponents immediately highlighting gold’s shortcomings.  In addition to being physically bulky and therefore harder to transport, gold has long…

5 Years of Ethereum Network Updates, Delays and Changes

Five years ago to the month, a massive crypto project launched, forever changing the landscape of the crypto and blockchain space. Since its 2015 opening day in July, Ethereum has undergone a number of planned changes. The project’s recent move into proof-of-stake, or PoS, has faced a number of delays.  Ethereum launches in 2015 On July 28, 2015, Ethereum unveiled details showing an expected launch for Frontier, the network’s inaugural framework, between July 29 and July 30. The project started up on July 30, as planned. By February of the…

DeFi Makes Legacy Fintech Obsolete

Kain Warwick, founder of DeFi derivatives platform Synthetix, argues that projects built on Ethereum can finally deliver on many of the promises that fintech failed to. Despite ten years of development, Warwick said the fintech sector has been hamstrung by “trying to build overlays for the legacy infrastructure.”  They faced issues with a lack of interoperability between the “siloed” systems of financial institutions, regulatory barriers to innovation, and the vast expenses associated with mainstream compliance regimes. He said: “The promise of fintech over the last ten years has run up…

Bakkt Bitcoin Futures Smashes Records Two Days Running

Intercontinental Exchange subsidiary, Bakkt, is reporting record numbers of trades for its monthly Bitcoin futures contracts as BTC prices made a new high for the year. The institutional investing platform reported its highest ever figure for Bitcoin monthly futures on Jul. 28 with 11,506 contracts — an increase of 85% over the previous record. The move followed a surge in the underlying asset’s price to a 2020 high of $11,400. On July 29, Bakkt topped the new record with 11,706 contracts traded. “Talk about momentum! We beat yesterday’s record with…

Grayscale’s Crypto Funds Grow by $1 Billion in Just 11 Days

Crypto fund manager Grayscale Investments has managed to increase its assets under management by another $1 billion in less than two weeks. According to an update posted to Grayscale’s Twitter account on July 28, the investment firm currently has $5.1 billion in assets under management (AUM). The funds are mostly held in Grayscale’s trusts for Bitcoin (BTC) and Ethereum (ETH), along with the firm’s digital large cap fund. There are smaller allocations in Bitcoin Cash (BCH), Ethereum Classic (ETC), Horizen (ZEN), Litecoin (LTC), Stellar Lumens (XLM), XRP, and Zcash (ZEC) …

Augur Deploys V2 Upgrade, Integrates Features From DeFi

Decentralized predictive betting market platform Augur (REP) has announced the successful deployment of its v2 upgrade. The upgrade is intended to address bugs and vulnerabilities identified with the existing platform and its rules surrounding betting markets, to introduce support for the Dai stablecoin and other popular DeFi protocols, and to institute an affiliate program. On July 29, Augur revealed that its v2 protocol contracts had been deployed on the Ethereum Mainnet and verified on Etherscan. In a statement the project noted that “exchanges, wallet providers, block explorers, and additional services…