21 Oaks Capital
Monthly Review

21 Oaks Newsletter — June 2024

1 July 2024·2 min read

BREAKING

  • Donald Trump announces the end of Biden's "war on crypto" and wants to ensure that the future of cryptocurrencies and Bitcoin lies in the US.

MORE

  • Deutsche Bank expands its partnership with crypto exchange Bitpanda and intends to provide real-time payment solutions for its clients.
  • FinTech bank Solaris is likewise cooperating with Viennese FinTech unicorn Bitpanda and will be able to use its custody infrastructure going forward.
  • Deutsche Telekom joins the growing interest of large corporations in the Bitcoin ecosystem and plans to mine Bitcoin in future in addition to operating nodes.
  • BlackRock amends its Ethereum ETF filing; the launch is now expected in early July.
  • The SEC indirectly classifies the cryptocurrency Ether as a resource, not as a security.
  • Binance implements MiCA stablecoin rules and restricts their use for EEA users. An opportunity for a new European stablecoin?
  • VanEck files for a Solana ETF; SOL (third-largest cryptocurrency after ETH) rises by 8%.
  • The Wisconsin Investment Board becomes the first state pension fund to acquire Bitcoin ETFs.
  • Securities trading bank Steubing from Frankfurt am Main is cooperating with 21 Oaks Capital and intends to develop innovative solutions for its clients in the digital assets space.
  • Mt. Gox, the crypto exchange from Japan that already filed for bankruptcy in 2014 following a hack (approx. USD 500 million in losses), is now close to paying out around USD 9 billion in Bitcoin to its creditors.
  • Germany's BKA seized 50,000 Bitcoin (> USD 3 billion) earlier this year, which could now likewise be sold on the market, as they have already been transferred to wallets at three large crypto exchanges.
  • Sony continues to expand its Web3 portfolio and announces the launch of its crypto exchange via a subsidiary.
  • Robinhood plans to acquire the European crypto exchange Bitstamp for USD 200 million.
  • The Swiss National Bank (SNB) has announced a two-year extension of its pilot project for the settlement of tokenized securities.
  • Mannheim wants to become Germany's crypto city. 22 businesses have already introduced payments in cryptocurrencies.

SPEAKERS' CORNER

  • With Titles III and IV of the Markets in Crypto-Assets Regulation (MiCAR) taking effect, Europe has taken significant steps toward regulating stablecoins, placing issuers under supervision and granting holders the right to redemption.
  • The new legislation, which also requires the publication of a whitepaper and compliance with specific investment rules, offers an important opportunity for the development of MiCAR- and EU-compliant stablecoins.
  • We discussed this with our advisory board member Alexander Höptner, who as CEO of AllUnity will issue his own EUR stablecoin.
  • He calls the MiCAR regime a "game changer for this absolutely essential medium of the upcoming tokenization."

Translated from the German original, which is the authoritative version. Read the German version