The Daily: Stripe acquires stablecoin platform Bridge for $1.1 billion, crypto markets ‘scream risk-on’ and more
2024-10-22

I hope you had a good weekend, folks. In today's Daily, Stripe's $1.1 billion acquisition of stablecoin platform Bridge is confirmed, Bernstein says Bitcoin ETF inflows, crypto equity markets and retail trading sentiment are "screaming risk-on," Japan's DPP leader pledges a 20% tax cap on crypto gains and more.
Meanwhile, perpetually rising bitcoin prices would lead to societal impoverishment, ECB economists claim, as the BIS highlights risks in TradFi's move toward tokenization.
Let's get started.
Stripe acquires stablecoin platform Bridge for $1.1 billion
Payments giant Stripe has acquired stablecoin platform Bridge for $1.1 billion, according to TechCrunch founder and well-known venture capitalist Michael Arrington, expanding its integration with the space.
Crypto markets are 'screaming risk-on'
Bitcoin ETF inflows, crypto equity markets and retail trading sentiment are "screaming" a risk-on environment, according to analysts at research and brokerage firm Bernstein.
Japan's DPP leader pledges 20% tax cap on crypto gains
Yuichiro Tamaki, the leader of Japan's Democratic Party for the People (DPP), has proposed a plan to reduce tax rates on crypto gains from 55% to 20% ahead of the upcoming general election.
Data breach at fiat-to-crypto payment gateway Transak affects over 57,000 users
Transak, a Miami-based fiat-to-crypto payment gateway, has disclosed a data breach affecting 1.14% of its 5 million users, potentially impacting more than 57,000 people.
MetaMask and digital identity firm Space ID aim to simplify crypto
MetaMask and Space ID have collaborated on an integration designed to simplify crypto transactions, allowing users to replace complex wallet addresses with customizable handles.
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