Binance banned in UK

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Binance is kicked out of the UK, Grayscale adds Cardano, and new study reveals which country ranks best for adopting crypto. These stories and more this week in crypto.

Binance Markets Limited, a division of Binance, arguably the world’s largest and most popular crypto exchange, is kicked out of the UK as the country’s Financial Conduct Authority works to regulate and limit digital currencies. A statement was issued explaining that the company failed to meet legal standards set out by the agency.

Grayscale added the fifth largest crypto by market cap, Cardano, along with its underlying currency (ADA) or ada to its large cap fund. ADA’s holdings now make it the third largest holding in the fund, behind bitcoin and ethereum. The ADA addition comes just weeks after the company updated its list of assets under review.

Mercado Bitcoin, the first crypto exchange established in Brazil, has raised $ 200 million in Series B funding from the SoftBank Latin America Fund. The company is just one of several companies owned by 2TM Group, which is currently valued at over $ 2 billion, making it one of the largest financial firms in the country.

Twitter has released its own non-fungible (NFT) tokens. The company is handing out 140 Twitter-themed tokens to its users, who can then accept the offers that accumulate in the NFT, Rarible Marketplace. Twitter CEO Jack Dorsey is a huge fan of the NFTs. In March, he sold his very first tweet as NFT for $ 2.9 million.

The popular investment app, Betterment, seeks to offer cryptocurrency services to its users. It’s worth noting that the app currently serves over 600,000 people, and this could be a big step towards further crypto adoption if it comes to fruition.

Ark Investheaded by longtime bitcoin bull Cathie Wooda filed an SEC application for a bitcoin-based exchange-traded fund (ETF). This is the ninth separate crypto-based ETF application awaiting SEC approval, although the agency has not said whether it plans to be more open to crypto in the near future.

Continuing his involvement in cryptocurrencies, legendary soccer player Tom Brady, along with his wife in the popular FTX cryptocurrency trading platform. Although the amount of the stake was not disclosed, it is known that the couple will receive some sort of payment in cryptocurrency.

The country most ready to kick start the widespread adoption of cryptocurrencies, according to a new study, is the United States. The study suggests that the United States has the most crypto ATMs, knows the most crypto research online, and ranks first in ease of use among individuals and banks.

That’s what happened this week in crypto, see you next week.

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