Bitrue Bulletin | 12.6.2023–18.6.2023 | | by Bitrue | Jun, 2023

Rug Pull Alert: Celsius Network to Sell Altcoins on July 1st — Celsius Network, a defunct crypto lender, has announced plans to sell all customer altcoins, except those held in custody and withhold accounts, starting from July 1, 2023. The recovered funds from the sale will be converted into Bitcoin (BTC) and Ethereum (ETH). Notably, Celsius Network holds approximately $215 million worth of altcoins, including tokens like Celsius (CEL), Polygon (MATIC), and Cardano (ADA).

Ripple Expands CBDC Trials in Multiple Countries — Ripple’s XRP Ledger-based CBDC platform continues to gain traction as Colombia joins the list of countries, including Hong Kong, Bhutan, Palau, and Montenegro, launching pilot projects for central bank digital currencies (CBDCs). Ripple’s platform serves as the foundation for these initiatives, highlighting its position as a leading player in CBDC development.

BlackRock Nears Filing for Bitcoin ETF — BlackRock, the world’s largest asset manager, is reportedly close to submitting an application for a Bitcoin ETF (exchange-traded fund). The company is said to be utilizing Coinbase Custody for the ETF and relying on the crypto exchange’s spot market data for pricing. While the details of the ETF (spot or futures) remain unclear, this development demonstrates the growing interest and demand for regulated Bitcoin investment products.

Bitcoin and Altcoins React to Fed Rate Hike Pause — Bitcoin experienced a decline to $25,530 as investors reacted to the U.S. Federal Reserve’s decision to pause interest rate hikes. Major altcoins also saw a drop in value. The crypto market has been influenced by factors such as SEC lawsuits against Binance and Coinbase, Fed monetary policy signals, and broader macroeconomic uncertainties. Market analysts anticipate ongoing consolidation while keeping a close eye on potential price patterns and indicators.

Balaji Srinivasan Raises Concerns about Tech Companies and Digital Asset Seizure — Balaji Srinivasan, former CTO of Coinbase, warns that prominent tech companies like Apple, Microsoft, and Google could assist governments in seizing digital assets if permitted by G7 nations. Srinivasan suggests that these companies, with their operating system access, could scan devices for private keys and hand them over to authorities if compelled to do so. He highlights the possibility of two divergent paths — one where digital asset seizure is allowed and another where decentralized digital assets thrive.

Colombia’s Central Bank Explores Blockchain Use Cases with Ripple — Colombia’s central bank, Banco de la República, has partnered with Ripple to explore the use of blockchain technology. Ripple’s CBDC platform will be piloted to enhance the country’s high-value payments system, as part of Colombia’s broader blockchain experimentation phase. The collaboration aims to evaluate the potential efficiencies and advancements that blockchain technology can bring to the public sector.