Wedbush announced settlements on Paxos / TITAN dropped 99% / Fresh Funding

Plus: Kraken is expected to go public in the next 12 to 18 months.

Inside.com Part of   Network June 17, 2021

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The global crypto market cap is $1.57T 2.88%▼ with a 24-hour market volume of $82.07B 6.75%▼. Bitcoin's dominance is currently 45.17% 1.31%▼. CURRENT PRICES BY MARKET CAP # Name Price 24h % 1 Bitcoin BTC $37,667.20 2.49% ▼ 2 Ethereum ETH $2,316.69 3.35% ▼ 3 Binance Coin BNB $347.67 0.20% ▼ 4 Cardano ADA $1.46 2.53% ▼ 5 Dogecoin DOGE $0.3037 1.87% ▼ *Prices as of 2:15 p.m. ET.

Wedbush will use the Paxos Network to assist with stock settlements. The news comes after similar announcements from Bank of America, Credit Suisse, Nomura’s Instinet, and Societe Generale. More: Paxos provides a private version of the Ethereum blockchain for firms to process and settle same-day trades. The blockchain solution for trade settlement has been approved by the SEC since 2019. Following Wedbush’s inclusion on the network, Paxos’ blockchain only has two remaining slots.

Iron Finance’s Titanium (TITAN) dropped 99%, destabilizing its stablecoin (IRON) to $0.70.  While some speculated Mark Cuban was inolved in TITAN's freefall, he stated that he was among the TITAN investors who watched the value fall from $60 to $0.000006 overnight. More: IRON is a soft-pegged, algorithmic stablecoin that derives 75% of its value from USDC and 25% from TITAN. Iron Finance stated that the flash drop was due to a crypto bank run rather than a rug pull or exploit. In a “Post-Mortem” statement from Iron Finance, the startup stated that IRON for USDC redemption has resumed.

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▲ TOP GAINERS # Name Price 24h % 1 XinFin Network XDC $0.067 29.67% ▲ 2  Theta Fuel TFUEL $0.1021 9.99% ▲ 3 Cosmos ATOM $13.88 8.47% ▲ 4 Fantom FTM $0.309 8.17% ▲ 5 Waves WAVES $18.23 6.04%▲ ▼  TOP LOSERS  # Name Price 24h % 1 Shiba Inu SHIB $0.000007856 12.09%▼ 2 Internet Computer ICP $52.36 8.04%▼ 3 Kusama KSM $341.91 7.65%▼ 4 Amp AMP $0.09647 7.65%▼ 5 UMA UMA $11.52 6.16%▼ *Limited to cryptocurrencies in the Top 100. Prices as of 2:15 p.m. ET.

🍋Fresh Funding🍋 SynFutures, DeFi/Derivatives: $14M ⮕ The Series A funding round was led by Polychain Capital with participation from Framework, Pantera Capital, Bybit, Wintermute, CMS, Kronos, and IOSG Ventures. More: SynFutures provides a platform for users to create their own futures contracts from trading pairs of any asset at any maturity date. The startup said it plans to partner with Bitmain and Huobi to offer BTC hashrate derivatives. The SynFuture trading platform is still in closed alpha but has slated a mainnet launch next month. TRM Labs, Blockchain Analytics: $14M ⮕ Bessemer Ventures Partners led the Series A with participation from PayPal Ventures, Initialized Capital, Jump Capital, Salesforce Ventures, Y Combinator, and others. More: TRM Labs offers blockchain analytics tools for managing and detecting crypto-related financial crimes and fraud. The startup’s client base has grown 600% in the past year.  With the fresh funding, TRM plans to expand its team from 30 to 100 by 2022.

QUICK HITS Sign up for GROUNDFLOOR and get $100 For Every $5,000 Transferred & Invested. Earn Up To $1,000 through June 30, 2021. * The National Republican Congressional Committee partnered with BitPay to accept crypto donations. Research from the UK’s Financial Conduct Authority found that 2.3M people in the UK currently own crypto, a 21% increase from 2020. Ethereum 2.0 staking deposits reached a record high of 5.6M ETH (~$13.5B). Tezos (XTZ) was announced as McLaren Racing’s official blockchain partner for F1, INDYCAR, and esports. GMO Financial Holdings announced a new NFT marketplace, GMO Adam, through a joint venture with GMO Internet and Samurai Partners. The Philadelphia 76ers joined the Socios fan token platform, making it the first NBA team to do so. StreamingFast, a blockchain protocol infrastructure company, received a $60M grant from The Graph (GRT) to develop its decentralized internet project. The World Bank rejected El Salvador’s request for assistance in implementing BTC as legal tender, citing concerns about transparency and environmental impact. Kraken CEO Jesse Powell stated that Kraken would likely go public within the next 12 to 18 months. Studies show that 91% of consumers are willing to buy from brands that offer relevant recommendations. Download this guide to learn more. *

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Griffin McShane is a J.D. candidate currently living in Portland, Maine. He is a graduate of Providence College, where he studied both computer science and business. Griffin aspires one day to go to the moon and bring some of his altcoins along for the ride. Editor Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford.

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