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Crypto Flipsider News – July 9th – Jack Dorsey Wallet, EU, Circle USDC, Gary Gensler, Steve Wozniak, CryptoPunk in Museum

Welcome, cryptosurfers!

It’s mid-summer time, so let’s relax for a bit. You see, there Jack Dorsey trying to catch a wave. Circle is already circling 4.5 billion circles on the board. Of course, there are those watchdogs trying to bark on naughty surfers. But believe me, even concert security guys enjoy music while guarding. Same here.

Catch our tides:

  • Pokeball for Jack Dorsey: “assisted custody” crypto hardware wallet
  • EU wants SEC-like child
  • Naughty Circle doesn’t listen to Bill Gates. They do plan to go public via a SPAC
  • Unexpected breaking news: Cupertino guy likes crypto!
  • Digital gets physical home: first NFT in a museum

Jack Dorsey and Square Confirmed Plans to Build a Hardware Wallet and Service to Make Bitcoin Custody More Mainstream

Jack Dorsey decided to bring simplicity to crypto wallet usage. Thus, he cooperated with digital payments firm Square. They created a witty word for it “assisted-self-custody”, and later explained that it’s just a user-friendly hardware wallet.

Flipsider:

  • Well, give a dog a bad name and then hang him. Oops, it once happened with Elon Musk. Anyways, if Jack Dorsey is able to reinvent the wheel – good luck.

European Union to Propose New Body: Money Laundering Regulator With Stricter Crypto Reporting Requirements

The EU authorities are preparing a new entity for money laundering regulation. Anti-Money Laundering Authority (AMLA) will be a supervisory system including national regulators as well. The increased attention to this topic happened for several reasons and crypto is one among them.

Flipsider:

  • In fact, here we have “Watchdog or Cerberus” dilemma. Of course, regulators gonna regulate as well as authorities gonna authoritize. On the one hand, we cryptos with decentralized ideology in the core. On the other one, there are scammed people.

USDC Provider Circle Is Planning to Go Public via a Spac Merger. The Stablecoin Issuer Has Been Valued at $4.5 Billion

Circle is the issuer company of USDC, the US dollar-pegged stablecoin listed on the most popular exchanges. The deal is valued at $4.5 billion. The initial plan is to go through Special Purpose Acquisition Company deal in the fourth quarter of 2021.

To be precise, instead of filing an Initial Public Offering (IPO), company management decided to merge with Concord Acquisition Corp, which is a SPAC itself.

Flipsider:

Do you remember uncle Bill warning about SPACs? For sure, Circle is not a brand-new company that going public. However, is the risk worth taking?

Steve Wozniak Repeated Once Again He Likes Bitcoin

  • On the Jalisco Talent Land Digital 2021, a co-founder of Apple compared Bitcoin and gold again. Also, he called the crypto “the most amazing mathematical miracle”. This is not the first time when praises Bitcoin. Nevertheless, he claimed not to have any bitcoin in his wallet.

Flipsider:

  • If a famous person praises Bitcoin but claims not to have any crypto, it’s baloney. Not a rule of thumb, but definitely a common tendency.

CryptoPunk 5293 Is the First NFT to Enter a Major Art Museum Collection, Miami’s Institute of Contemporary Art

Contemporary art’s purpose is to represent modern sentiment in creative way. NFT is one of the most vivid trends, which even got out of crypto space. Now, Miami’s Institute of Contemporary Art did a prominent step for modern art: they included CryptoPunk 5293 into one of the collections.

Flipsider:

  • Definitely, it’s an expensive piece of code and pixels. Good that it was gifted to the museum.

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