First Mover Asia: Bitcoin Settles Above $27.1K After Early Wednesday Dip as Rate Hike, Inflation Worries Heighten

ALSO: Large bitcoin holders reduced their holdings and sent assets to exchanges in the days leading up to the debt deal. What’s next?Source

First Digital Unveils USD Stablecoin as Hong Kong Crypto Rules Kick In

The stablecoin is issued by a registered trust owned by First Digital.Source

Bitcoin, Crypto Prices Brace for Downturn in Coming Liquidity Shock, Observers Say

Improving liquidity conditions so far this year has lifted risk assets such as cryptocurrencies, but the trend is poised to turn once the U.S. debt ceiling is lifted and the Treasury along with the Fed resumes tightening, analysts said.Source

PayPal Ventures Leads $52M Round for Crypto Firm Magic

The startup offers non-custodial wallet infrastructure for an enterprise client list that includes Macy’s and Mattel.Source

Crypto Traders Need to Pay Attention to Chinese Yuan

The Chinese yuan has declined by 2.7% against the U.S. dollar this month, while bitcoin has dropped by 7.3%.Source

Crypto Infrastructure Firm Anoma Foundation Raises $25M

The Swiss non-profit oversees the Anoma blockchain architecture and the layer 1 blockchain Namada.Source

Venture Capital Firm Tribe Capital Targets $100M for Latest Crypto Fund: Sources

Tribe plans to make early-stage investments of $500,000-$3 million in layer 1 and 2 ecosystems, DeFi projects and infrastructure plays to bring real-world assets on chain.Source

First Mover Americas: Bitcoin Slumps Back to $27K on Fed Worry

The latest price moves in bitcoin (BTC) and crypto markets in context for May 31, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.Source

Team Behind Offshore Yuan, Hong Kong Dollar Stablecoins Detained by Chinese Police: Report

Earlier this year KuCoin closed a $10 million funding round into CNHC.Source

Find Satoshi Labs Rolls Out AI Tool That Turns Selfies Into NFTs

The parent company behind Web3 game STEPN is releasing GNT V3, which will allow users to turn their selfies into digital artworks on the Solana blockchain.Source