Table of Contents

• Coinbase

• Tesla

Top Stories Today

Coinbase

Coinbase has become the first U.S. exchange to earn a MiCA authorization, securing approval from Luxembourg’s financial regulator to extend its crypto offerings throughout the EU and establishing its primary European headquarters there. The move replaces its initial choice of Ireland and leverages Luxembourg’s well-developed blockchain laws and business-friendly environment. MiCA’s unified rulebook is designed to protect investors and stabilize markets across all 27 member states. Despite the shift, Coinbase will continue expanding its Dublin team, while competitors like Gemini and OKX pursue their own EU licenses under this new framework.

Tesla

Tesla has landed its inaugural contract to deploy a utility-scale battery storage facility in China, signing a deal valued at roughly ¥4 billion ($556 million) with the Shanghai municipal government and China Kangfu International Leasing. The installation, powered by Tesla Megapacks, each capable of delivering 1 MW for four hours, will be the country’s largest grid-side energy storage project upon completion, helping to balance supply and demand from variable renewables like solar and wind. Manufactured at Tesla’s Shanghai Gigafactory, where over 100 Megapacks were produced in Q1, these systems will bolster urban power stability and efficiency. The agreement marks a strategic win for Tesla amid stiff competition from dominant Chinese battery producers CATL and BYD and follows U.S. tariffs on Chinese imports that have strained Sino-American trade relations. China aims to expand its battery storage capacity by nearly 5 GW by end-2025, and Tesla is also exporting Megapacks manufactured in Shanghai to meet growing global demand.

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