Bullish Starts Pilot In Coming Weeks, Skeptical Salvadorans + More News
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- Heavily-backed, yet-to-be-launched crypto exchange Bullish said it intends to go public through a merger with the special purpose acquisition company Far Peak Acquisition Corporation. Also, in the coming weeks, Bullish exchange aims to run a private pilot program leading up to its public launch anticipated later in 2021. Meanwhile, the business combination has a pro forma equity value at signing of approximately USD 9bn. The transaction is expected to close by the end of 2021. Upon completion of the transaction, Far Peak CEO Thomas W. Farley will become the CEO of Bullish and Block.one CEO Brendan Blumer will be appointed Chairman of Bullish.
- More than three-quarters of surveyed Salvadorans are sceptical of bitcoin (BTC) being recognized as legal tender in the country, Reuters reported, citing a country-wide survey of 1,233 people. It showed that about 54% of those surveyed viewed the bitcoin adoption as “not at all correct” while another 24% described it as “only a little correct.”
- The central Bank of Thailand is cautioning citizens that cryptocurrencies are not legal tender, and that soliciting payments in digital assets such as bitcoin and ethereum (ETH) as payments for goods and services constitutes barter trade. In using digital assets as a means of payment, both the payer and the receiver may face risks such as price volatility, cyber theft, and money laundering, the bank warned.
- Asset management firm Osprey Funds said it aims to register its Osprey Bitcoin Trust as a US Securities and Exchange Commission reporting company.
- A Swedish cryptocurrency fraudster was sentenced to 15 years in prison after defrauding thousands of victims of more than USD 16m. Roger Nils-Jonas Karlsson, who pleaded guilty in March, induced victims to purchase shares in the scheme called “Eastern Metal Securities” using cryptocurrency such as bitcoin, and other online payment platforms, promising astronomical returns, said the US Department of Justice. He ran the scheme from 2011 until his arrest in 2019.
- Mining company Gryphon Digital Mining announced it has entered into an agreement to purchase 7,200 Antminer S19J Pro mining machines from mining equipment manufacturer Bitmain for an aggregate purchase price of USD 48m.
- South Korean university Ulsan National Institute of Science and Technology designed an eco-friendly toilet called BeeVi, which lets people using it earn a digital currency called Ggool, while the toilet itself connects to a lab that uses excrement to produce biogas and manure, according to Reuters. It powers devices in the building such as a gas stove and a boiler, while students earn 10 Ggools a day, which can be used at an on-campus market to buy everyday goods.
- Decentralized virtual gaming world The Sandbox, developed by Animoca Brands, has partnered with Skybound Entertainment to bring a The Walking Dead experience to The Sandbox metaverse, according to an emailed release. The experience will encourage gamers to unite with friends and other players as they overcome the day-to-day requirements of surviving a walker-infested habitat: scavenging for food, gathering resources, building walls, nurturing relationships, making alliances, and more, it said.
- Sports and entertainment collectibles company Topps Company announced that Meltem Demirors will join the Company’s Board of Directors, following the completion of its business combination with blank check company Mudrick Capital Acquisition Corporation II. Demirors is Chief Strategy Officer of multi-billion-dollar global digital asset investment firm CoinShares and was part of the founding team of venture capital company Digital Currency Group.