Get your daily crypto scoop: China's tokenized security launch, SEC lawsuits affect NFTs, Bittrex to open for withdrawals.
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Bank of China Issues First Tokenized Security on Ethereum

Bank of China Issues First Tokenized Security on Ethereum

Get your daily crypto scoop: China's tokenized security launch, SEC lawsuits affect NFTs, Bittrex to open for withdrawals.

Last update:
Jun 15, 2023
| Issue
#
39

Hi crypto enthusiasts. Welcome to another edition of the Datawallet newsletter, where we cover all things crypto-related. Regardless of your knowledge level, we’re sure that you will find interesting information here. So read on!

Today’s drop will cover these key daily news items:

Bank of China issues first tokenized security on Ethereum

OCI has effectively launched CNH 200 million entirely digital structured notes, becoming the premier Chinese financial organization to release a tokenized security in Hong Kong. The offering, created by UBS, was distributed to its customers in the Asia Pacific region, signifying a lasting partnership between BOCI and UBS in the realm of digital structured notes.

In December 2022, UBS had introduced a USD 50 million tokenized fixed-rate note under English and Swiss legislation, digitized on an authorized blockchain.

SEC lawsuit causes a significant drop in NFT

In the past week, tokens associated with digital realms and NFTs have experienced significant losses, primarily due to the US Securities and Exchange Commission (SEC) categorizing numerous tokens as securities in their legal action against Coinbase and Binance.

Following a week after the US regulatory body lodged the lawsuits, the mentioned tokens now make up the majority of the top ten underperformers within the top 100 cryptocurrency tokens by market capitalization, as per CoinGecko.

AWS went down, but Ethereum kept humming

A brief interruption occurred in Amazon Web Services (AWS), yet it did not affect Ethereum network nodes, despite their significant dependence on Amazon's hosting. On June 13, the cloud service provider experienced a temporary downtime for approximately three hours. The company initially announced at 12:08 pm PDT that they were "looking into heightened error rates and delays" in certain areas of the United States.

Bittrex U.S. to open for customer withdrawals tomorrow

The American division of cryptocurrency exchange Bittrex is preparing to enable customer withdrawals on Thursday, as per information received by CoinDesk from a Delaware bankruptcy court decision. Bittrex filed for bankruptcy in May, and its attempt to allow customers to access their assets again faced resistance from the U.S. government, which claims it is still owed millions due to sanctions breaches.

Banq files for bankruptcy

Banq, the payment division of the beleaguered cryptocurrency custodian Prime Trust, has submitted a Chapter 11 bankruptcy application to the U.S. District Court in Nevada.

The bankruptcy documents reveal that Banq possesses roughly $17 million in total assets and approximately $5 million in total liabilities. This submission occurs a mere few days after Prime Trust, Banq's parent organization, agreed to a tentative acquisition arrangement with competitor BitGo, subject to necessary approvals.

Other breaking news

Wrapping up

That’s it, folks. The Datawallet newsletter for today. Banq files for bankruptcy, while Bittrex plans to open for customer withdrawals. NFT-related coins are dropping thanks to SEC’s actions, while China releases its first tokenized security. Stay informed and ahead of the game with our daily crypto scoop. See you tomorrow!