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Travala, a crypto-native booking platform, is now available on Skyscanner, allowing users to book over 2.2 million hotels in 230 countries using cryptocurrencies like Bitcoin and its AVA token (COIN:AVAUSD). This integration marks Travala as the first crypto-native platform on Skyscanner, competing with giants like Expedia (NASDAQ:EXPE) and Booking.com (NASDAQ:BKNG). The partnership aims to increase cryptocurrency adoption by offering direct payments in digital assets and rewards like up to 10% back in Bitcoin. Travala, originally on the Neo blockchain, migrated to BNB Chain and offers Web3 travel incentives for users.
Siemens (TG:SIE) launched a $331 million (€300 million) digital bond, its second on the blockchain, as part of the European Central Bank’s initiative to test private blockchains for bond settlements. Using the SWIAT blockchain and the Bundesbank’s Trigger Solution, the issuance involved major German banks and highlighted blockchain efficiency. The transaction settled in minutes, a significant improvement over the previous issuance on the Polygon blockchain.
Bitcoin (COIN:BTCUSD) experienced a brief recovery on the morning of September 5 but dropped 2.8% throughout the day, trading at $56,343 at the time of writing. U.S. economic data suggests a potential interest rate cut by the Federal Reserve, with payroll and job openings falling below expectations.
In August, the U.S. private sector hired 99,000 workers, below the forecast of 140,000 and the revised July figure of 111,000. This marks the weakest growth since January 2021, with sectors like professional services and manufacturing losing jobs.
“The U.S. private employment change, reported by ADP this morning, came in much lower than expected. This data acts as a “preview” for the payroll report to be released tomorrow. The preview spooked the market today, as a similarly disappointing payroll report tomorrow would drastically increase the risk of recession,” commented Fernando Pereira, an analyst at Bitget. Meanwhile, the S&P 500 dropped by 0.4%.
Traders await employment data on September 6 for further Bitcoin direction. The 50-week moving average stands at $53,355, and a significant rate cut could boost BTC’s price.
On September 4, Bitcoin ETFs faced continued outflows of $37.2 million, with Grayscale’s ETF (AMEX:GBTC) losing $34.2 million. Bitwise’s ETF (AMEX:BITB) was an exception, gaining $9.5 million. Ethereum ETFs also saw significant outflows of $37.5 million, with Grayscale’s ETF (AMEX:ETHE) registering the largest individual outflow of $40.6 million. Total Ethereum ETF outflows reached $562.3 million.
Coinbase Global (NASDAQ:COIN) currently holds 2,275,123 BTC, representing about 10.83% of the total Bitcoin supply (COIN:BTCUSD). Centralized exchanges like Coinbase hold over 1.1 million BTC, particularly through Coinbase Retail. ETFs and ETPs manage more than 808,000 BTC. Coinbase Prime Custody safeguards 137,947 BTC. Corporations such as MicroStrategy (NASDAQ:MSTR), Tesla (NASDAQ:TSLA), and SpaceX collectively own over 99,000 BTC, while miners hold approximately 17,609 BTC. This raises concerns about centralization, as a single entity controls a significant portion of assets, potentially undermining Bitcoin’s decentralized principles.
Robinhood Markets (NASDAQ:HOOD) agreed to pay $3.9 million to settle a California state investigation into improper practices between 2018 and 2022. During that period, the company blocked digital asset withdrawals and failed to fully disclose trade information. The settlement requires users to withdraw assets and be informed of security-related holds. Robinhood also faces an SEC investigation for potential securities law violations.
Mastercard (NYSE:MA) partnered with Mercury to launch a euro-denominated debit card, allowing users to spend Bitcoin (COIN:BTCUSD) and cryptocurrencies directly from non-custodial wallets. Available to European holders, the card can be used at any of Mastercard’s 100 million+ global merchants without intermediaries. The card includes issuance, maintenance, and transaction fees but gives users full control over their digital assets.
DeFi protocol Synthetix (COIN:SNXUSD) is launching its SNAXchain within the Optimism Superchain infrastructure. SNAXchain will act as a neutral hub for governance decisions as Synthetix expands into other Layer 2 solutions and chains. Developed with Conduit and Wormhole, SNAXchain aims to enhance interoperability and user growth. The integration with Optimism Superchain is expected to reduce transaction costs and support Synthetix’s new governance phase.
The Injective blockchain has introduced a tokenized index for BlackRock’s USD Institutional Digital Liquidity (BUIDL) Fund. This new index allows traders to access the fund through on-chain financial instruments, tracking fund supply rather than price to increase transparency and democratize access to tokenized assets.
Chainlink (COIN:LINKUSD) has fallen 10% over the week but recently regained the $10 mark after confirming the integration of the Cross-Chain Interoperability Protocol (CCIP) with Sonic Labs. Despite the price boost, the token may face stagnation due to a rising Mean Dollar Investment Age (MDIA), indicating increased dormancy of tokens, which could hinder short-term price growth.
Zest Protocol, backed by Tim Draper, and Binance Labs have launched the BTCz token, aimed at allowing Bitcoin holders to earn staking yields via the Babylon Protocol. BTCz promises improved capital efficiency and higher security compared to other BTC derivatives, though the exact yield percentage has not been disclosed. BTCz joins a growing group of Bitcoin DeFi innovations.
Crypto exchange Bybit has launched bbSOL, a liquid staking token on the Solana blockchain, allowing users to earn staking rewards while maintaining liquidity. The exchange partnered with Sanctum, Kamino Finance, Orca, and Solayer for this initiative. bbSOL aims to offer broad and flexible financial opportunities for token holders and liquidity providers, potentially following the success of liquid staking on Ethereum, which now exceeds $39 billion in total value locked (TVL).
BCB Group, a payment processor connecting cryptocurrencies to the banking system, received an acquisition proposal during its search for a Series B funding round, according to CoinDesk. UK crypto merger and acquisition activity has been increasing, with recent deals involving Elwood Technologies and Zodia Markets. BCB is not formally for sale and raised $60 million in its Series A in January 2022.
Japan’s three largest banks, Mitsubishi UFJ (NYSE:MUFG), Mizuho (NYSE:MFG), and Sumitomo Mitsui (NYSE:SMFG), are testing blockchain for fast international transactions via the SWIFT network, using stablecoins backed by fiat currencies. The new system aims to reduce transaction times from days to seconds without significant investment in new banking infrastructure. Initially focused on corporate transactions, consumer use may expand in the future, highlighting the growing integration of blockchain into traditional finance.
The UK’s Financial Conduct Authority (FCA) approved only 4 of 35 cryptocurrency firm applications between 2022 and 2023, with 87% rejected or withdrawn. Among the approved firms are BNXA, Komainu, and a PayPal UK unit. Since 2020, 44 firms have registered under anti-money laundering regulations, though many face long wait times and criticism of the process. New legislation is still pending.
Blockstream Mining is launching its third investment round for a hashrate-backed tokenized note. This note allows investors to receive a portion of Bitcoin generated by the company over the next four years. Priced at $31,000 per unit, the round aims to raise $10 million. The note offers low-cost access to Bitcoin mining, distinguishing itself with its 48-month period, unlike shorter mining contracts on the market.
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