Quote of the week: “I’m looking forward to seeing if Powell can straighten the market out… At a time when the Fed’s public forecast is at odds with the market, he knows that this is his chance to steer the markets.” – David Wessel, a senior fellow in economic studies at the Brookings Institution and former Wall Street Journal economics editor. Source: https://www.coindesk.com/
PayPal Partners with Coinbase: On August 22, Coinbase announced its partnership with PayPal to assist with banking compliance. As a partner of Coinbase, PayPal will be joining the Travel Rule Universe Solution Technology (TRUST) network. When a company joins TRUST, it becomes part of a rapidly growing global coalition dedicated to ensuring the security and privacy of customers. Source: https://blog.coinbase.com/
Crypto ATM Firm Goes Public: Bitcoin Depot, a bitcoin ATM operator in North America, struck an $885 million SPAC deal to go public. Bitcoin Depot will list in the United States by merging with blank check company GSR II Meteora Acquisition Corp. Source: https://finance.yahoo.com/
International Regulation Featuring Australia: This week, Australia said it would do a virtual stocktake of the country’s cryptocurrency holdings. This is the first signal from the new center-left government, indicating that it plans to implement regulation. The Treasurer of the country stated that his department would undertake “token mapping” as a first step in identifying which digital assets and cryptocurrencies to regulate and how to regulate them. Source: https://www.fxempire.com/news/
Coinbase Launches a New Asset: Coinbase has launched a new digital asset consisting of Ether tokens that are staked and wrapped through the crypto exchange prior to the Ethereum merge. The exchange will be listing Coinbase Wrapped Staked ETH (cbETH) on the Ethereum network as an ERC-20 token, permitting individuals to use their staked ETH while earning rewards on the crypto exchange. Source: https://www.coindesk.com/tech/
Beijing has Metaverse Development Plans Ahead: The Beijing municipal government announced a two-year Metaverse innovation and development project that will require all districts to follow a Web3 innovation plan. The innovation plan’s goal is to promote the development of Metaverse-related industries and help Beijing build a digital economy. Source: https://cointelegraph.com/
