Beyond Words
Reuters has reported that Swiss financial watchdog FINMA (Financial Market Supervisory Authority) has greenlighted the first investment fund that will be dealing mainly with digital assets.
Over the past 12 years, cryptocurrency, particularly Bitcoin (BTC), has grown and is steadily becoming more prevalent in the news, media, and online as nations like El Salvador have declared it legal tender.
With the price charts of most altcoins flashing red candles on Monday, the global crypto-market cap tumbled below the $2 trillion-threshold. In fact, the same had fallen by more than 5% in just 24 hours, at the time of writing.
Banking giant Citi has stated that the emergence and growth of cryptocurrencies has sparked new thinking for the payments infrastructure.
Stablecoin transactions and their impact on financial stability are top-of-mind for Treasury officials.
The world’s first physical statue of pseudonymous Bitcoin creator Satoshi Nakamoto was presented earlier today to a crowd of people in Budapest, Hungary.
European hedge fund Brevan Howard Asset Management has plans to expand into the nascent crypto space.
Jack Dorsey’s payments firm Square has become part of the Open Invention Network (OIN), the biggest patent protection consortium that was founded by the likes of IBM, Red Hat, and Sony all the way back in 2005, Bloomberg reports.
Notably, with time BTC’s number of addresses, unique exchange users, and unique on-chain users have seen a steady increase. As adoption rates continue to grow, this number will only go higher. But when it comes to Bitcoin and cryptocurrencies in general, there is a lot of risk-talk and skepticism in the market.
Several largest U.S.-listed bitcoin mining firms with operations predominantly in North America have collectively mined over 10,500 BTC year to date with nearly 40% of the output coming from the past two months.
Company officials said they are working with numerous cryptocurrency businesses in Brazil to bring crypto payment cards to the market and alluded to future direct integration of bitcoin payments.
Decentralized finance’s market capitalization has reached a new all-time high of $145.5 billion dollars, according to the TradingView index. The previous ATH was reached back in May when Ethereum’s price was also topping out at the price of $4,170.
Texas becomes the latest US state to adopt crypto and blockchain technology under its commercial law.
After a turbulent couple of months, the cryptocurrency market has surged by 47% in the previous 30 days, adding $0.73 trillion in value.
The divide between the crypto-space and regulators in the United States remains as clear as ever. While the crypto-community has long sought some degree of clarity from regulators, the latter have traditionally been slow to move. This has once again prompted market observers to highlight the “need for experts to work with policymakers.”
New York’s mayoral elections will culminate in an election in November, when New York residents will vote on a candidate to replace incumbent Bill de Blasio. Mayoral candidates are increasingly turning to crypto as part of their campaigns, with a number of recent nominees using a pro-crypto stance to attract voters.
The e-commerce portal offers the option to pay with Bitcoin, Ether, Dogecoin as well as several major dollar-pegged stablecoins.
The next two weeks could determine whether a new round of Congressional haggling over crypto takes place.
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