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UK Treasury Advises Lower Limits on Retail Digital Pound Over Fears of Bank Runs
4.12.2023
The UK Treasury Committee advised proceeding slowly on a digital pound in a Dec. 2 report due to financial stability risks like sparking bank runs. Image by Alexey Novikov, Adobe Stock. The UK Treasury Committee released a report on December 2, advising the Bank of England to proceed cautiously...
El Salvador’s Bitcoin Strategy Pays Off with $3.6 Million Profit – Will President Nayib Bukele Sell BTC Holdings?
4.12.2023
El Salvador Flag With BTC Tokens / Source: Adobe The Bitcoin (BTC) price, which briefly surpassed $42,000 on Monday for the first time since April 2022, has risen back above El Salvador’s average purchase price, putting the emerging Central American nation’s crypto bet back in the green....
Digital Asset Funds Record $1.76 Billion Inflows in 10 Weeks, Highest Since 2021: Report
4.12.2023
Source: Adobe / Luisa Digital asset investment products recorded $176 million in inflows last week extending the positive run to 10 consecutive weeks hitting huge numbers not recorded in years. A CoinShares Digital Asset Weekly Fund Flow report shows strong bullish sentiment from investors across...
Friend.tech Completes On-Chain Transaction for Ownership Transfer
4.12.2023
Source: Adobe / Joaquin Corbalan Friend.tech, a decentralized social app built on Coinbase’s blockchain Base, has successfully transferred the ownership of its smart contract and funds to “a new combination of multisig and professional custody.” The news that the necessary on-chain transactions...
Crypto.com Gains Key UK Regulatory Approval as Electronic Money Institution
4.12.2023
Cypto.com regulatory approval in the UK sets the stage for the company to offer additional financial services. Image by Timon, Adobe Stock. Today, cryptocurrency platform Crypto.com gained key regulatory approval in the United Kingdom. The company announced in a press release that it has been...
Coinbase, Microstrategy Shares Surge as Bitcoin Resumes Rally
4.12.2023
Image Source: Adobe Shares of public crypto companies listed in the US experienced a surge on Monday as Bitcoin (BTC) surpassed $42,000, reaching a new high for the year. Popular crypto exchange Coinbase saw a 7.3% surge before the market opened. Despite reporting a decline in third-quarter...
Institutional Traders Split Between Bitcoin and Ether, Skeptical of Altcoins: Bybit Research
4.12.2023
Source: nuttapon / Adobe Stock A recent report from Bybit Research reveals insights into the sentiment and asset allocation of institutional traders in the cryptocurrency market during the first three quarters of 2023. The Bybit Research report delves into the asset allocation strategies...
Shopify COO: Expect Surprising Progress in Our Crypto Implementation
4.12.2023
Source: Adobe / boumenjapet People will be surprised by the fast progress being made with crypto implementations at e-commerce platform Shopify, according to a senior executive at the company. Writing on social media platform X on Sunday, Kaz Najatian, Vice President of Product and Chief Operating...
Mantle Launches Non-Custodial Liquid Staking Protocol on Ethereum
4.12.2023
Source: Adobe Ethereum layer-2 project Mantle has announced the launch of its new liquid-staking protocol, Mantle LSP. In a Monday post on X (formerly Twitter), the proejct said Mantle LSP will allow users to deposit ETH and participate in network staking through validator nodes. ???? Interact with...
Standard Chartered Zodia Integrates Ripple-Owned Metaco’s Crypto Safekeeping
4.12.2023
Source: Adobe Standard Chartered Bank-backed digital assets custodian Zodia Custody, has integrated Metaco network’s global crypto storage services. The strategic partnership is aimed at offering global sub-custody services for cryptocurrencies. This means that Metaco would store client’s funds...
3 Out of Every 4 Web3 Games Have Met Their Demise: CoinGecko Report
4.12.2023
Source: Adobe Stock / enchanted_fairy Three out of every four Web3 games launched in the past five years have met their demise, presenting a bleak outlook for GameFi industry. In a recent report, CoinGecko analyzed the launch and success rates of 2,817 games between 2018 and 2023. Shockingly...
US Space Force Member Proposes Bitcoin’s PoW Systems in Cyberattack Prevention
4.12.2023
Image by Kaleb, Adobe Stock Jason Lowery, a member of the United States Space Force, has proposed the use of proof-of-work (PoW) networks, like Bitcoin (BTC), as a means to protect the country from cyber-inflicted warfare. In a letter addressed to the US Defense Innovation Board, Lowery emphasized...
Digital Ruble Will Spark Russia’s ‘Biggest Monetary Reforms Since the 1990s’
4.12.2023
Source: Larisa/Adobe The launch of the Russian digital ruble will trigger the nation’s “largest monetary reforms since the 1990s,” a media report has claimed. Per ProGorod, Russia’s CBDC project will be the biggest transformative event in the nation’s economic history since the collapse of...
Bitcoin ETF Decision Dates Approach: What to Expect in January
2.12.2023
Image by Parradee, Adobe Stock The Securities and Exchange Commission (SEC)’s move to start a public comment period for spot Bitcoin (BTC) ETF applications earlier than expected has stirred up optimism around the launch of these products. On November 28, the SEC published filings instituting...
Will Bitcoin Futures ETFs Crumble After Spot ETF Approval? Interview With ProShares
2.12.2023
Source: Adobe Stock As Bitcoin (BTC) surged passed $38,000 in November, the ProShares Bitcoin Strategy ETF (BITO) has tapped a new all-time high for assets under management (AUM). On Tuesday, the fund’s Bitcoin futures contracts reached a record $1.47 billion in value. That’s up from $1.1 billion...
Grayscale Positions Itself for Bitcoin ETF Race with Hire of Former Invesco Head John Hoffman
1.12.2023
Source: Ascannio / Adobe Stock. Crypto asset manager Grayscale has appointed John Hoffman, former Head of Americas at Invesco, to lead its distribution and partnerships team. On December 1, Grayscale announced the hiring of John, who has experience with ETFs and index strategies at Invesco....
IRS Deals Devastating Blow to FTX With $24 Billion Tax Claim, Crypto Exchange Pushes Back
1.12.2023
FTX has challenged the potentially fatal tax claims levied by the IRS last month for $24 billion. Image by Michael O’Keene, Adobe Stock. According to a November 30 filing by FTX debtors, the IRS tax claims of $24 billion filed in early November are “completely unsubstantiated”...
CryptoPunks and Bored Apes Dip as NFT-500 Index Falls Despite Crypto Rally
1.12.2023
CryptoPunk NFT. Source: Adobe / ArtmediaworX While the broader crypto market appears to be moving toward a potential bull-market phase, the non-fungible token (NFT) sector, led by collections like CryptoPunks and Bored Apes, is experiencing a contrasting trend. The Nansen NFT-500 index, which...
Bitcoin Miners Hut 8 and USBTC Complete Merger, Forming New Hut 8 Corp for Upcoming Halving
1.12.2023
The merger of Hut 8 Mining and USBTC ahead of the 2024 Bitcoin halving event has created the new Hut 8 Corp, the largest publicly traded Bitcoin mining company. Image by 24K-Production, Adobe Stock. On November 30 major players in the Bitcoin mining industry, Hut 8 Mining Corp. and US Bitcoin Corp...
Celsius Network’s Bitcoin Mining Pivot Faces Hurdles, Judge Suggests New Vote
1.12.2023
Source: Adobe Celsius’ Bitcoin (BTC) mining plans face obstacles as a United States judge hints at a possible new vote to clear deviations. According to a Reuters report on Nov 30, Celsius may require another creditor vote to change its business operations from a mining and staking enterprise...