The Friday Focus: Issue 53

Welcome to our Friday newsletter - Our weekly crypto news summary, separating the signal from the noise.

Weekly happenings in the crypto industry (Sept 23rd - Sept 30th)

Non-native crypto institutions continue their crypto push despite the bear market. Spain’s largest telecom company Telefónica invests in local crypto exchange Bit2Me and accepts crypto as payment in its marketplace. Meanwhile, SWIFT partners with crypto data provider Chainlink to build a cross-chain protocol focusing on institutional investors.

The cleanup after this summer’s crypto implosions is hopefully nearing its end. Crypto exchange FTX has been on a buying spree for the last months, feasting on the carcasses of struggling crypto companies. Its latest purchase is bankrupt crypto lender Voyager for $1.4B. Rumors indicate that Celsius may be the next, of which outspoken CEO Alex Mashinsky has resigned. Meanwhile, the restructuring of struggling crypto futures exchange CoinFLEX is progressing, giving creditors 65% ownership. Do Kwon, the founder of failed stablecoin project Terra, is wanted by South Korean authorities and Interpol.

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