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By August 3, 2021DeFi
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The cryptocurrency industry has won a last-minute concession on the U.S. infrastructure bill – a bill with over 2,000 pages designed to update roads, highways, and digital infrastructure - that was finalized over the weekend, as it managed to change the language in it to scale back scrutiny.

Bitcoin ATM operator LibertyX is set to get acquired by enterprise software company NCR. The financial terms of the deal were not disclosed, and the transaction is expected to close later this year.

Digital asset management firm Arca has launched its Arca Digital Yield fund, which the firm says is the first actively managed income fund in the cryptocurrency sector.

Sponsored: Another exciting quarter has come and gone and despite the turmoil experienced in crypto markets after mid-May, theInvictus Capitalsuite of funds has continued to offer investors exceptional returns, with the Hyperion VC (IHF), Margin Lending (IML) and Crypto10 Hedged (C10) Funds all shooting the lights out.

Top stories in the Crypto Roundup today:

  • Infrastructure Bill: Crypto Industry Wins Last-Minute Concessions
  • Crypto ATM Operator to be Acquired by Fortune 500 Company NCR
  • Arca Launches Actively Managed Digital Yield Fund
  • Sponsored: Invictus Capital Q2 2021 Investment Report
24 hours chart of the price of BTC

The cryptocurrency industry has won a last-minute concession regarding the U.S. infrastructure bill – a bill with over 2,000 pages designed to update roads, highways, and digital infrastructure - that was finalized over the weekend, as it managed to change the language in it to scale back scrutiny.

The text now includes some changes to alleviate concerns expressed by cryptocurrency industry leaders last week regarding new requirements that would force businesses in the sector to turn over information to the I.R.S. by defining them as brokers.

The bill now clarifies the definition of a broker instead of expanding upon it, and removed language explicitly targeting decentralized exchanges and peer-to-peer marketplaces. The bill now defines brokers as those “responsible for regularly providing any service effectuating transfers of digital assets on behalf of another person.”

The Electronic Frontier Foundation (EFF) has also criticized the infrastructure bill, claiming it contains “a poorly crafted provision that could create new surveillance requirements for many within the blockchain ecosystem.”

Bitcoin ATM operator LibertyX is set to get acquired by enterprise software company NCR. The financial terms of the deal were not disclosed, and the transaction is expected to close later this year.

LibertyX co-founder and CEO Chris Yim was quoted saying:

"This is the first acquisition by any company, public or private, of a bitcoin ATM operator.”

The firm operates over 10,000 ATMs throughout the United States, and Its buyer, NCR, formerly known as National Cash Register, is a software firm that works on business-related products such as ATMs, sales terminals, and scanners.

The acquisition, according to NCR's chief technology officer Tim Vanderham, will allow the firm to help its customers offers digital currency solutions, including the ability to buy and sell cryptocurrency.

Digital asset management firm Arca has launched its Arca Digital Yield fund, which the firm says is the first actively managed income fund in the cryptocurrency sector.

The fund seeks to offer cryptocurrency investment with minimal volatility and is targeting effective yields in the low double digits. It’s currently open with early access capital from internal and existing investors, and will roll out to other investors later this year.

The fund will be managed by Arca’s CIO Jeff Dorman and portfolio manager Hassan Bassiri. Dorman has said in a statement he believes the fund was a better option than the passive funds currently available because the firm will be taking advantage of variable rates of returns from different segments of the cryptocurrency space.

It’s been a busy few weeks on Alchemix following the debut of aleph and the incident that followed. As we can see in the graph below, deposits into the Alchemist, the primary way users interact with Alchemix, spiked leading up to the launch of alETH on June 2. While there was a slight dip in the number of deposits following the “incident” and pausing of alETH vaults, deposits soon rallied. They peaked at more than $309 million on June 11 and remained above $260 million in the months since.

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