🪙 Crypto News (June 6, 2024):

1️⃣ Paxos: #Paxos has launched a new stablecoin called Lift Dollar (USDL), which offers holders a "risk-free" yield of approximately 5%. Paxos International, the issuer of this stablecoin, is regulated in the UAE by the Financial Services Regulatory Authority (FSRA) within the Abu Dhabi Global Market (ADGM). The token is not intended for residents of the USA, UAE (except ADGM), UK, EU, Canada, Hong Kong, Japan, and Singapore. 💵

2️⃣ Newsroom: #Robinhood is acquiring the cryptocurrency exchange Bitstamp for $200 million. This move marks Robinhood's continued global expansion beyond the USA. Through this acquisition, Robinhood will gain access to Bitstamp's extensive base of retail and institutional clients in the European Union (EU), UK, and Asia. 🌍

3️⃣ Lugh: The European company Lugh has announced that it will stop issuing its stablecoin #EURL ahead of the new MiCA regulations coming into effect. The issuer has promised to redeem existing coins by August 30, 2024. 🔄

4️⃣ The Block: MoonPay, an infrastructure provider, has announced it will reduce its workforce by 10%. CEO Ivan Soto-Wright attributed the layoffs to high operational costs. 📉

5️⃣ Binance: The decentralized platform io.net has been introduced as a new participant on the Binance Launchpool. 🚀

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