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Hector now plans to redistribute the proceeds of its treasury to HEC holders proportionally and based on their positions as of July 14. The final amount distributed could be lower than $16 million, as “all contractual, statutory and other legal obligations, including costs of the liquidation, must be fully settled”
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The Treasury Department of the United Kingdom has proposed excluding unbacked crypto assets and derivatives from its plans for a digital securities sandbox.In a consultation paper released on July 11, HM Treasury said the regulatory sandboxes that will be established under the country’s Financial Services and Markets Act will provide
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At the end of Q2 2023, layer-one blockchain Near Protocol's (NEAR) treasury had declined to $900 million, led by a fall in the price of NEAR tokens from $1.99 to $1.38 apiece.At the #NEAR Foundation, transparency is at our core.Check out the Foundation's Q2 '23 Transparency Report below for all the
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MicroStrategy is currently the largest corporate holder of Bitcoins with its total BTC holdings at 152,333. On Wednesday, June 28, business intelligence firm MicroStrategy announced the purchase of over 12,000 Bitcoins worth $350 million. As we know, MicroStrategy is the largest corporate holder of Bitcoins and the recent purchase takes
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The growing trend of cutting services to cryptocurrency companies in Australia could lead to undesired consequences like making the industry less transparent, according to the state.Australia's Treasury on 28 June published an official statement addressing potential policy responses on debanking in Australia. Debanking occurs when a bank declines to provide services
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California Rep. Maxine Waters, ranking member of the United States House Financial Services Committee, has called on leadership at federal regulatory agencies to weigh in on a proposed framework for digital assets.In separate letters dated June 23, Waters requested Treasury Secretary Janet Yellen and Securities and Exchange Commission (SEC) Chair
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The Canadian Bitcoin (BTC) mining company, Hut 8 Mining, has secured a credit facility from a subsidiary of the United States-based cryptocurrency exchange, Coinbase.Hut 8 officially announced on June 26 that it entered a $50 million credit agreement with Coinbase Credit. The credit facility involved Hut 8’s subsidiary, Hut 8
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The Australian Treasury’s token mapping of digital assets will adopt a “tech agnostic” and “principles-based” approach in order to define crypto assets, according to a Treasury official.Speaking to Cointelegraph on June 26 at the Australian Blockchain Week, Trevor Power, an Australian Treasury Assistant Secretary said the framework will be structured
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United States Government bonds, or Treasurys, have a tremendous influence across all tradeable markets, including Bitcoin (BTC) and Ether (ETH). In that sense, risk calculation in finance is relative, so every loan, mortgage and even cryptocurrency derivatives depend on the cost of capital attributed to U.S. dollars.Assuming the worst-case scenario
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Circle’s reserve fund opted to rotate all its holdings into tri-party repos involving systemically important banks like Goldman Sachs, BNP Paribas, Bank of America, and Royal Bank of Canada. Stablecoin issuer Circle has made a strategic move by resuming the purchase of US Treasury bills as a reserve asset for its
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