Crypto
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FTX Ventures bets $100M on financial services firm Dave
FTX.US will be the official crypto partner of Dave as part of the sealed strategic partnership The exchange will also guide the firm’s entry into the digital assets space Crypto exchange FTX via its venture capital arm FTX Ventures has invested $100 million into Dave, a mobile banking company. This goes along with the ongoing payment industry’s wave towards a focus on systems that support crypto products. Even firms such as MasterCard and Visa that have previously dealt with legacy payment systems have launched initiatives to facilitate payments via crypto assets. PayPal and its Venmo platform added support for crypto last year, while JackDorsey’s Cash App allows US users (bar New York) to send BTC via the Lightning Network. FTX.US will help Dave enter the digital asset s...
Crypto market selling pressure remains Asia dominated: Glassnode
The Bitcoin network’s on-chain activity still appears to be in a bear market as U.S. and E.U. buyers are struggling to stay ahead of sellers based in Asia. Blockchain analytics firm Glassnode’s latest report on the weekly activity of the Bitcoin (BTC) network shows that the price of the largest crypto by market cap has stayed firmly within the same tight $5,000 range from $37,680 to $42,312. However, on March 22 the asset saw a sudden spike in price which elevated prices to a two-week high. Overall, the network is in a demonstrable lull according to Glassnode’s weekly review: “Bitcoin network utilization and on-chain activity remains firmly within bear market territory, albeit is recovering.” The research concluded that there is a distinct difference in the behavior of the average BTC inve...
Mobile banking app Dave scores $100M investment from FTX US
On March 21, mobile banking application Dave announced a partnership with FTX US to provide cryptocurrency payments on the platform. It also announced a $100 million investment from FTX Ventures. In the statement, Dave said the investment would aid its strategy for future crypto-related initiatives, with FTX US serving as its partner for cryptocurrencies. Both companies said they’re currently exploring ways to introduce crypto payments into Dave’s platform. FTX US President Brett Harrison commented that it looks to align with companies that can help drive widespread adoption of digital assets, believing Dave was a fit in that regard. Jason Wilk, Chief Executive Officer of Dave, expressed his views on the technology. “We believe blockchain technology has the potential to level the financial...
DeFiance Capital founder loses $1.6M in hot wallet hack
Founder of major crypto investment firm DeFiance Capital, “Arthur_0x”, has suffered a hack on one of his hot wallets resulting in the loss of more than $1.6 million in nonfungible tokens (NFTs) and crypto. In a tremendous show of support, the crypto community has come to his aid to help retrieve the stolen items as he asked people to blacklist the hacker’s wallet. Several individuals on Twitter have attempted to determine exactly how the hack occurred and where the hacker gained access to his wallets. NFT community member “Cirrus” went as far as buying two of the stolen Azuki NFTs and deciding to return them to Arthur at cost. Cirrus told Cointelegraph today that he: “found out they were hacked, and instead of selling them for profit like the other folks who got some of his, decided I’d se...
Bitcoin hits 3-week high as fresh impulse move sends BTC price to $43.3K
Bitcoin (BTC) saw a fresh impulse move overnight into March 22 as bulls briefly reclaimed $43,000. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView RSI hints at underlying strength Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching $43,337 on Bitstamp Tuesday, the pair’s highest since March 3. The action contrasted with the lack of volatility since the weekend, and neatly fitted with the more bullish predictions surrounding near-term trajectory. For popular trader Crypto Ed, who had previously given $43,000 as a low-timeframe target, all was going to plan. #BTC Been showing red box at $43k for a couple of days now…. Imagine not watching my YT videos….. No need at all to listen to dudes, who like to hear talking themselves for >2...
FTX exchange expands operation by launching Australian unit
The exchange completed an acquisition to gain the required regulatory license to launch in Australia FTX Australia will offer locals derivatives and other market-leading products Sam Bankman-Fried led crypto exchange FTX has revealed that it’s launching a new service for its customers in Australia. The leading global exchange announced the creation of FTX Australia in a statement published yesterday. The exchange said that Australian consumers will get exposure to market-leading products and services, including derivatives and a collection of exchange and over-the-counter products. CEO Sam Bankman-Fried was keen to point out that the launch of the subsidiary would allow users to conduct their activity on a locally regulated and licensed platform. Though Australians have previously be...
SEC pushes decisions on WisdomTree’s and One River’s applications for spot Bitcoin ETFs
The United States Securities and Exchange Commission has extended its window to approve or disapprove spot Bitcoin (BTC) exchange-traded fund (ETF) applications from asset managers WisdomTree and One River. According to separate Friday filings, the SEC will push the deadline for approving or disapproving a rule change allowing shares of the WisdomTree Bitcoin Trust and One River Carbon Neutral Bitcoin Trust to be listed on the Cboe BZX Exchange and New York Stock Exchange Arca, respectively. The regulator said it would extend its window for the decision on WisdomTree’s Bitcoin investment vehicle to May 15 and One River’s to June 2. The spot BTC ETF application from WisdomTree followed the SEC rejecting a similar offering from the asset manager in December 2021 after several delay...
OCEAN gains 86.4% in March ahead of Q2 launch of Ocean v4
Data security and accessibility have become important issues of the modern age as the world slowly progresses towards a Web3 future that establishes blockchain technology as the underlying infrastructure for the new internet. One project that is looking to capitalize on this growing trend by establishing tools for the new Web3 data economy is Ocean Protocol (OCEAN), a blockchain ecosystem that helps individuals and businesses unlock the value of their data and monetize it through the use of datatokens. Data from Cointelegraph Markets Pro and TradingView shows that, over the past two weeks, the price of OCEAN has rallied 86.4% from a low of $0.40 on March 7 to a daily high of $0.748 on March 21 amid a 562% surge in its 24-hour trading volume to $321 million. OCEAN/USDT 4-hour chart. Source:...
Ether bulls eye resistance at $3K as the network prepares to undergo ‘The Merge’
A new week in the cryptocurrency market has brought more of the same sideways price action that the wider ecosystem has experienced in recent months, as Bitcoin (BTC) continues to hold support near $41,000 while some analysts warn that high inflation and rising interest rates could see the top cryptocurrency fall to $30,000. On the altcoin front, Ether (ETH) appears to be showing some signs of life as noted by cryptocurrency analyst Willy Woo, who recently tweeted that “Ether [is] setting up to break upwards out of a very long term, 3.5-month bearish trend line.” Data from Cointelegraph Markets Pro and TradingView shows that the ETH price is now trading above support at $2,900, with bulls looking to make another run at breaking the $3,000 resistance after being firmly rejected a...
Euroclear invests in Fnality to advance digital ledger technology strategy
On Monday, Euroclear, a securities clearing firm that claims it has over 37.6 trillion euros in assets under custody, announced an investment into Fnality, a consortium of financial institutions focused on the regulated adoption of tokenized assets and marketplaces, for an undisclosed amount. Meanwhile, Euroclear is also focusing on developing its distributed ledger technology, or DLT, to settle digital securities against digital cash through the partnership. The solution aims to increase the speed and efficiency of post-trade operations in areas such as market issuance, collateral trades and servicing interest payments. Founded in 2019, Fnality International said that it seeks to improve the efficiency of central banks for payment settlements. Its notable shareholders include Barcla...
Australian Liberal Senator proposes digital assets regulation
Senator Andrew Bragg has submitted a proposal pushing for policies to protect the consumer The legislative proposal, if approved, would define regulation for DAOs, crypto markets, custodial services, and taxation Australia is set to join the list of countries worldwide that have adopted initiatives towards regulating the use and adoption of digital assets. According to recent reports, the Australian government plans to redefine the state of payments systems, a move that would also affect digital currencies. The goal is to create investor protection measures, laws for crypto taxation and regulate digital asset custodial firms and exchanges. “The government can’t guarantee your crypto any more than it can guarantee a painting or a share in a company, and nor should it,” Aus...
Struct Finance raises $3.9M to compose, customize, and invest in DeFi products
Struct Finance, a decentralized (DeFi) blockchain-based platform for structured financial products, announced in a Monday press release the completion of a $3.9 million seed round. The company said it will use the proceeds to compose, customize, and invest in DeFi products. Avalanche one of many investors Struct Finance is a protocol on Avalanche although it expects to scale into other EVM compatible chains in the near-term. Struct Finance tapped 24 investors to partake in the financing round. The group includes several notable standsouts, including Avalanche’s 200 Million Blizzard Fund. The roster of other investors includes: Antler, Assymetries Technologies, Arcanum Capital, Avalaunch, AVentures Dao, Bison Fund, Bixin Ventures, Double Peak, FBG Capital, Finality Capital Partners, Infinit...
