Cataverse: Catalonian Government Is Building Its Own Metaverse

Catalonian director-general of innovation Daniel Macro discussed some of the key efforts that the government has taken and worked on to make the region a digital hub. Macro’s comments came during the European Blockchain Convention (EBC) 2022.

He revealed that the government is working towards building a Catalonian metaverse called Cataverse, explaining “Cataverse will be linked to the Catalan language and the Catalan culture. That is what we want to have in this metaverse”

Swiss National Bank Exec Thinks “Regulation Will Favor Centralized Stablecoins”

Talking about the innovation and adoption of private stablecoins and plans of central banks regarding the CBDC launch, Swiss National Bank deputy head Thomas Muser said both could co-exist. He said that CBDC’s function would be very basic and private stablecoin issuers can add services on top of them to meet retail customers’ needs.

He added that regulators may be forced to favor centralized stablecoins, saying “My fear is that that, that people will throw all decentralized stable currency in the same kind of category, which is not true, you know, so there’s a danger. I think that regulation will favor centralized stablecoins.”

Three Arrows Capital Defaulted on a $670 Million Loan

Crypto hedge fund Three Arrows Capital has defaulted on a loan worth more than $670 million. Digital asset brokerage Voyager Digital stated that the fund failed to repay a loan of $350 million in the U.S. dollar-pegged stablecoin, USDC, and 15,250 bitcoin, worth about $323 million at today’s prices.

Voyager said it intends to pursue recovery from 3AC (Three Arrows Capital). In the interim, the broker emphasized that the platform continues to operate and fulfill customer orders and withdrawals.

Hacktivist Group Anonymous Pledges to Bring Terra Co-Founder Do Kwon’s Crimes to Light

Hacktivist group Anonymous has pledged to “make sure” Terra co-founder Do Kwon is “brought to justice as soon as possible” in regard to the collapse of the Terra (LUNA) and TerraUSD (UST) ecosystems in May.

“There is no doubt that there are many more crimes to be discovered in your trail of destruction,” hacktivist group Anonymous said on its YouTube channel.

GTA 6 May Enable Digital Payments and Include Bitcoin Rewards

One of the biggest gaming franchises, Grand Theft Auto, popularly called GTA, confirmed that it is working on its 6th installment, and according to a report, GTA 6 could include Lightning or Bitcoin features within the game.

GTA 6 might provide a digital payments system in the gameplay, and players could be rewarded in bitcoin for completing missions. It’s not far fetched considering the “play-to-earn” trend is considered to take over games in coming years.

Binance CEO Is “looking at 50 to 100 deals,” Wants to Help Insolvent Companies

“We’re seeing that a number of firms are insolvent, but it’s a small number in the grand scheme of things,” Changpeng Zhao, founder and chief operating officer of crypto exchange Binance said. Zhao said Binance is currently “looking at 50 to 100 deals.”

But in CZ’s view, these transactions aren’t necessarily bailouts, calling this an “overloaded word.” “We do look at stressed assets, companies that are insolvent and we’d like to help them either with loans, minority investments or even with majority acquisitions,” CZ said.

Iran Bans Crypto Mining for the Rest of This Summer, Citing Electricity Shortages

Crypto miners were forced to deal with power cuts over and over, the Iran Power Generation, Transmission and Distribution Company (Tavanir) has advised them to end operations once more, for the rest of this summer.

They are anticipating electricity shortages in the following three months of hot climate conditions when demand will rise exponentially due to the rising utilization of electricity by air cooling systems.

Bored Ape Themed Restaurant Doesn’t Accept Crypto Payments Anymore

The Bored and Hungry restaurant in Los Angeles has gone back to accepting good old fashioned US dollars as its sole currency.

When the fast food shop opened in April, it accepted digital currency as well as dollars – but that was before record-breaking market crashes that depleted millions in investor dollars and tanked entire crypto coins.

FTX CEO: Buying Goldman Sachs and CME Is Not Out of Question at All

Hong-Kong-based billionaire Sam Bankman-Fried has stated that FTX may consider buying U.S. financial giant Goldman Sachs and exchanges such as Chicago Mercantile Exchange in the future.

Bankman-Fried stated that if FTX can become the top crypto exchange and supplant rivals such as Coinbase and Binance, the idea of purchasing giants such as Goldman Sachs and CME group is not off the table: “If we are the biggest exchange, [buying Goldman Sachs and CME] is not out of the question at all.”

Ether and Bitcoin Gains Help Crypto Reclaim $1 Trillion Market Cap Level

Ether advanced as much as 3.9% to $1,255.48, and has rallied 38% over the past eight sessions after briefly dropping to about $900. The No. 2 cryptocurrency reached its highest level in 10 days on Sunday as the market showed some signs of stabilization.

Bitcoin has gained about 20% in that eight-session stretch and rose as much as 1.7% on Sunday. Overall crypto market capitalization retook the $1 trillion level on Saturday.

BlockFi Will Increase Interest Rates on Crypto Deposits, Despite Market Downturn

BlockFi, a major crypto lending platform based in New Jersey, announced last Friday that it would increase deposit rates across several cryptocurrencies starting from July 1.

BlockFi stated the reason for increasing interest rates comes from its ongoing mission to offer substantial and long-term customer service while expanding its product offerings, as well as a changing macro yield environment and decreasing market competition.