crypto blog
Grayscale to expand crypto fund offering into Europe
Digital asset manager Grayscale Investments is planning to expand its product offerings into Europe to tap into growing institutional demand for cryptocurrencies in the region, CEO Michael Sonnenshein confirmed Tuesday. In an interview with Bloomberg, Sonnenshein said the company was holding meetings with local partners to discuss how Grayscale’s suite of products would be rolled out in the region. The company hasn’t made any definitive plans regarding which exchanges and countries would be supported initially, though Grayscale plans to launch pilot tests in several markets across the European Union. Sonnenshein explained that Grayscale would be looking at investor behaviors and local regulations in determining its product rollout. “Although the EU is unified, we don’t view the entir...
These are the DEX tokens that should not be missed on April 27
ZRX, SUSHI and CAKE are the best DEX tokens you can get on April 27. Each token has seen numerous developments and a high level of growth. All of these tokens can grow in value further. After the decentralized exchange (DEX) protocol 0x Labs raised $70 million from Greylock, OpenSea, and Jared Leto, in a Series B Round, there has been a spike in interest surrounding DEX tokens. 0x Labs is a non-fungible token (NFT) partner of Coinbase, and they rolled out a set of NFT swap features that enabled users to exchange digital collectibles across multiple blockchains. All of these developments sparked an interest in DEX tokens, and today, we will be going over some of the best options you have. We will be taking an in-depth look at the values of ZRX, SUSHI, and CAKE to give you an indicatio...
KuCoin announces a $100 Million Fund to Empower Web3 Growth
KuCoin’s role in empowering the Web3 universe continues, this time with the launch of a new $100 million fund. Spearheaded by KuCoin, the leading crypto exchange, together with its brand new NFT trading platform’s KuCoin NFT Marketplace-Windvane and venture capital arm KuCoin Ventures, the $100 million “Creators Fund” targets the incubation of early-stage NFT projects. Empowering Web3 Universe The goal, according to a press release the platform shared, is to use the funds to support the NFT Metaverse ecosystem. As such, projects drawn from fields such as arts, Esports, PFPs, GameFi, and Asian culture among others, are set to benefit. To help accelerate this growth as Web3 takes shape is KuCoin’s launch of a new decentralised NFT marketplace dubbed “KuCoin NFT Marketplace-Windvane. Pe...
Cuban central bank makes it official: VASP licensing coming in May
In a move that could potentially foster the growth of Cuba’s nascent tech industry, the Banco Central de Cuba (BCC), the country’s central bank, will begin issuing licenses for Bitcoin (BTC) and other virtual asset services providers, or VASPs. According to the Official Gazette No. 43 published Tuesday, which includes a Central Bank of Cuba resolution, anyone wanting to provide virtual-asset-related services must acquire a license first from the central bank. It reads: “The Central Bank of Cuba, when considering the license request, evaluates the legality, opportunity and socioeconomic interest of the initiative, the characteristics of the project, the responsibility of the applicants and their experience in the activity.” Furthermore, the document states that those organizations that do n...
Bybit adds crypto options trading as part of expansion plans
Singapore-based crypto exchange Bybit has recently announced its service expansion into crypto options trading, allowing users to trade USD Coin (USDC) options and perpetuals. The Bybit media team told Cointelegraph that this decision to add options to the product line was in response to its community’s demands. Bybit noted that investors want to trade options because it can “serve as a hedge against existing risks and provide greater market exposure.” It also gives traders a way to diversify their portfolios. The newly-launched crypto options contracts on the exchange work on the same principles as its traditional finance counterparts. It allows users to speculate on the future price in the United States dollar value of an asset and settle trades using USDC. The Bybit team noted tha...
21Shares launches hybrid Bitcoin and gold ETP to enable inflation hedge
21Shares, a major issuer of cryptocurrency exchange-traded products (ETP), is launching a new ETP tracking a mix of Bitcoin (BTC) and gold. The Switzerland-based firm on Wednesday announced the launch of the 21Shares ByteTree BOLD ETP (BOLD), a new product aiming to provide inflation protection by tracking an index providing risk-adjusted exposure to both BTC and gold. Listed on the SIX Swiss Exchange, the new hybrid ETP is subject to monthly rebalances according to the inverse historic volatility of each asset. At launch, BOLD comprises 18.5% of BTC and 81.5% of gold. The new ETP was developed in collaboration with the United Kingdom-based alternative investment provider, ByteTree Asset Management. The product is positioned as the world’s first combined BTC and gold ETP. “Gold has hi...
Purpose Bitcoin ETF adds 1.1K BTC as data hints investors want to ‘buy the dip’
The world’s first Bitcoin (BTC) spot price exchange-traded fund (ETF) is buying BTC again after a month of selling. Data from on-chain monitoring resource Coinglass confirms that on April 27, Canada’s Purpose Bitcoin ETF added 1,132 BTC to its holdings. Data: Buy the dip interest “skyrocketing” Despite fears that Bitcoin is not yet done with its sell-off, an about turn at Purpose hints at increasing institutional demand. Beginning March 28, when BTC/USD traded above $48,000, Purpose began reducing its exposure, which at the time totaled 36,321 BTC. Wednesday’s increase is thus the first since March 25. At the time of writing, Purpose held 31,162.7 BTC, while BTC/USD traded at $39,000. Purpose Bitcoin ETF BTC holdings chart. Source: Coinglass The move coincides with figures from...
ECB official blasts the ‘lawless frenzy of risk-taking’ associated with crypto
Fabio Panetta has proposed heavier taxes and more stringent anti-money laundering requirements He argued that the continued correlation of crypto assets with the equities could be potentially destructive to the financial system Italian economist and ECB board member in charge of steering the creation of a digital Euro, Fabio Panetta, has called for coordinated efforts by global regulatory authorities to launch additional measures toward regulating the cryptocurrency sector. Regulating crypto-assets According to an extract from a published speech, Panetta argued the idea of cryptocurrencies to create a trustworthy coin remains a dream, observing that currently, crypto tokens take long periods to transfer and are a source of instability and insecurity. Labelling crypto a Ponzi sch...
ECB official blasts the ‘lawless frenzy of risk-taking’ associated with crypto
Fabio Panetta has proposed heavier taxes and more stringent anti-money laundering requirements He argued that the continued correlation of crypto assets with the equities could be potentially destructive to the financial system Italian economist and ECB board member in charge of steering the creation of a digital Euro, Fabio Panetta, has called for coordinated efforts by global regulatory authorities to launch additional measures toward regulating the cryptocurrency sector. Regulating crypto-assets According to an extract from a published speech, Panetta argued the idea of cryptocurrencies to create a trustworthy coin remains a dream, observing that currently, crypto tokens take long periods to transfer and are a source of instability and insecurity. Labelling crypto a Ponzi sch...
Brazil’s Senate approves ‘Bitcoin law’ to regulate cryptocurrencies
Brazil’s Senate has passed the country’s first bill governing cryptocurrencies in a plenary session, which will set the stage for the creation of a regulatory framework for the country’s crypto industry. The bill must be approved by the Chamber of Deputies and then signed off by President Jair Bolsonaro to become law in the country. This is expected to occur by the end of 2022, according to experts who spoke with Cointelegraph Brazil. The session that approved the project was chaired by Senate President Rodrigo Pacheco who said: “I want to congratulate the rapporteur of the project, Senator Irajá, for the approval, here in the Plenary of the Senate, for this important bill.” Federal Deputy Aureo Ribeiro first proposed the bill in 2015. The bill was then approved in the Se...
Failure to launch: Australia’s first 3 crypto ETFs all miss launch day
The launch of Australia’s first three Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETF) scheduled for today, has been delayed as a result of further “checks” needing to be completed. The exchange listing the Bitcoin Spot ETF from Cosmos Asset Management, Cboe Australia, released a statement late Tuesday stating that “standard checks prior to the commencement of trading are still being completed” and a “further update will be provided in the coming days.” Cboe issued the same notice regarding two spot ETFs issued by 21Shares also scheduled for launch today, a Bitcoin ETF and an Ethereum ETF. It’s unclear why the products are delayed with the Australian Financial Review reporting that a “service provider downstream” — an entity such as a prime broker or major institution with the ...
Uncollateralized DeFi mortgage taken out on Austin condo via Teller
A new homeowner has bought an apartment in Austin, Texas through a program that allows crypto holders to take out traditional uncollateralized mortgages based on their credit scores. The USDC.homes crypto mortgages platform issued its first crypto loan to an Austin resident who bought a $680,000 condo with a $500,000 loan issued in USD Coin (USDC) stablecoin over the Polygon (MATIC) network. This new platform combines practices from traditional lending markets such as leveraging a borrower’s credit score to determine eligibility with new decentralized finance (DeFi) innovations such as cryptocurrency staking to help pay off the balance. Today, we’re excited to debut https://t.co/26BgeWPd0Z and announce the arrival of crypto mortgages to Texas! <1/6> Read morehttps://t.co/I3wcbfZXRY —...
