ECB Keeps Interest Rate at 2%
The European Central Bank (ECB) kept its deposit rate steady at 2%, as expected, following seven consecutive rate cuts. The main refinancing rate was kept at 2.15%, while the marginal lending rate remained at 2.40%.
Circle’s USYC Stablecoin Can Be Used as Collateral
Circle announced that its yield-sharing stablecoin, USYC, will be accepted as collateral for institutional customers on the Binance platform. Catherine Chen, Binance’s Head of VIP and Institutional Business, noted that traditional institutions have been cautious about providing collateral in the wake of the FTX collapse. To address this concern, Binance is offering a “Banking Triparty” service in collaboration with bank custody partners. Additionally, it was revealed that the yield-generating stablecoin cUSDO will also be integrated.
UK AI Company Satsuma Technology Raises $135 Million for Bitcoin Treasury
According to a July 24 report by Coin telegraph, London-based AI company Satsuma Technology has completed the largest corporate fundraising effort to date for Bitcoin reserves in the UK. The company exceeded its target, raising 100 million British pounds (approximately 135 million US dollars). All funds are expected to be available within the next two weeks, and if converted to Bitcoin, Satsuma will become the second-largest corporate Bitcoin holder in the UK after The Smarter Web Company, which holds 1,600 BTC.
Semler Scientific Purchases 175 More Bitcoin: Total BTC Holdings Exceed 5,000
Documents submitted to the US Securities and Exchange Commission (SEC) show that Semler Scientific purchased an additional 175 BTC with an investment of approximately $21 million. The company’s total BTC holdings reached 5,021, with a year-to-date return on BTC of 31.3%.
Canadian Belgravia Hartford Purchases 25 More Bitcoin, Increasing Total Holdings to 40.8 BTC
According to an official announcement made on July 24, Canadian company Belgravia Hartford added 25 more Bitcoin to its portfolio. With this purchase, the company’s total BTC holdings reached 40.8.
The company’s investment in digital assets is said to have gained a notable position among institutional Bitcoin holdings in Canada.
Forbes: Tax Treatment Unchanged Despite New Crypto Laws
According to Forbes, despite the GENIUS and CLARITY laws passed by the US Senate, the IRS still classifies crypto assets as “intangible property.” There are no significant changes for investors in terms of taxation. Experts note that the “wash sale” rules for securities do not apply to crypto transactions and that losses can be carried forward flexibly.
Japanese Company Convano Now Owns a Total of 79.92 BTC
Convano Co., Ltd., listed on the Tokyo Stock Exchange, announced that it has purchased 79.92 Bitcoin in two separate transactions worth approximately 1.4 billion yen. In the latest purchase, 57.29 BTC was acquired for 1 billion yen with board approval.
Elon Musk: Vine is Returning with AI Support
Elon Musk announced on the X platform that the short-form video platform Vine will return with a new AI-powered version. Vine, launched in 2013, gained significant traction in digital culture with its 6-second looping videos. The app, which closed in 2017, is regarded as a pioneer of the modern short-form video trend.
European-based major bank Societe Generale announced that it will act as a market maker for 21Shares’ Bitcoin and Ethereum ETP products, thereby facilitating access to crypto products for institutional investors.
FTX to Begin New $1.9 Billion Compensation Distribution in September
FTX will implement its $1.9 billion payment plan in September following settlements with creditors. Previously contested areas will not be included in this payment, and new dates will be set for the application process.
Free Trade Agreement Signed Between the United Kingdom and India
According to Bloomberg, the United Kingdom and India have signed a free trade agreement that removes tariffs on many products, including automobiles and alcoholic beverages, following three years of negotiations.
Under the agreement, 90% of the UK’s exports to India will be subject to reduced tariffs, with 85% being completely eliminated within 10 years. The agreement is expected to contribute 4.8 billion pounds annually to the UK economy.
