The account services for crypto firms come at a time when U.S.-based firms are struggling to find local banking partners and are frequently looking abroad.
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Access real-time blockchain and cryptocurrency news updates from around the globe.
Less than 1% of staked ETH estimated to sell after Shanghai upgrade: Glassnode
The analytics firm backed up its prediction, stating only 253 validators have signed up to fully exit their staked Ether position.
Push to ban ransomware payments following Australia's biggest cyber attack
The attack on Latitude Financial is Australia’s biggest cyber attack with driver's license numbers, passports and financial documents among the stolen information.
US needs to regulate stablecoins to keep a strong dollar: Stellar CEO
The United States and the greenback will suffer if stablecoin regulations are not rolled out this year, Stellar Development Foundation's chief has claimed.
Coinbase wins $470K restitution in insider trading case
The brother of a former Coinbase employee allegedly profited from an insider trading scheme and now has 20 years to repay the funds.
Circle and BlockFi questioned on banking with SVB by Warren and AOC
Circle and BlockFi executives were questioned after the lawmakers accused Silicon Valley Bank of “coddling” and giving “white glove” treatment to its largest depositors.
The feds must rein in crypto-financed terrorism
Government should develop Know Your Customer procedures for social media and messaging services and take stronger measures to track cryptocurrency transactions.
Bitfinex Securities El Salvador receives Digital Asset Service provider license in El Salvador
The license granted by El Salvador’s National Digital Asset Commission will allow Bitfinex Securities to issue and trade secondary assets on a regulatory-compliant platform.
Wyoming defends crypto-friendly bank charter regime in Custodia Bank's lawsuit with Fed
“The State of Wyoming believes that this changes the tenor of the suit and in turn questions the legitimacy and viability of the State’s statutory framework," said AG Bridget Hill.
CoFund tokenizes $10M hotel in Bali via Tokeny
The minimum purchase amount for the hotel's tokenized ownership is $1,000.
Bitcoin continues to shine with 98% of inflows into crypto investment products
On April 11, European cryptocurrency investment firm CoinShares published its latest “Digital Asset Fund Flows Report,” revealing that digital asset investment products experienced positive sentiment with inflows totaling $57 million last week, bringing inflows back to a net positive position year-to-date. However, despite this, "volumes were low at $970 million for the week," and the global Bitcoin (BTC) exchange market also saw low volumes, which "were just 25% of the year-to-date average at $18 billion for the week."
According to the report, inflows were primarily driven by investors in the U.S., with $27 million of inflows. Germany, Switzerland, and Canada also saw positive sentiment, with inflows totaling $17 million, $13 million, and $2.2 million, respectively, indicating a broad-based increase in confidence towards digital assets.
Investors primarily focused on Bitcoin, with BTC receiving $56 million of inflows, which accounted for 98% of all inflows. Meanwhile, short-bitcoin suffered minor outflows totaling $0.6 million. In contrast, altcoins, including Uniswap (UNI), Polkadot (DOT), and Polygon (MATIC), saw minor inflows of less than $1 million each.
The report also noted that despite the Ethereum network's Shapella upgrade scheduled for April 12, Ether (ETH) inflows were relatively minor at $600,000, suggesting that perhaps investors are cautious about investing in Ethereum until they are more confident about the impact of the upgrade. Additionally, blockchain equities saw minor inflows totaling $2.1 million, indicating a relatively quiet week for this market segment.
Related: Ethereum price retests key support level that preceded 60% gains in June 2022
Bitcoin continues to shine with 98% of inflows into crypto investment products
According to CoinShares, Bitcoin received $56 million of inflows last week, which accounted for 98% of all investments into digital asset investment products.
French central bank looks at certification, incorporation as part of DeFi regulation
The Banque de France presented a well-written consideration of issues related to DeFi and forthcoming MiCA regulation, with suggestions.
Bitcoin holds $30K, but some pro traders are skeptical about BTC price continuation
BTC traders are cautiously optimistic due to Bitcoin traditional assets, but there are still some macro headwinds to be aware of.
Bitcoin holds $30K, but some pro traders are skeptical about BTC price continuation
Bitcoin (BTC) price has finally broken the $30,000 level after the key price zone lasted as a ten months resistance level. BTC price rallied 6.5% on April 10 and the much-awaited price gain ended an agonizing 12-day period of extremely low volatility, which saw the price hovering close to $28,200. Bulls are now confident that the bear market has officially ended, especially considering the fact that BTC price has gained 82% year-to-date.
Another interesting note is, Bitcoin's decoupling from traditional markets has been confirmed, after the S&P 500 index presented a mere 0.1% gain on April 10, and WTI oil traded down 1.2%. Bitcoin traders are likely anticipating the Federal Reserve's interest rate policy to reverse sooner than later.
Stagflation risk could be behind the decoupling
Higher interest rates make fixed-income investments more attractive, while businesses and families face additional costs to refinance their debts. The reversal of the U.S. central bank's recent tightening movement is deemed bullish for risk assets. However, the fear of stagflation — a period of increased inflation and negative economic growth — would be the worst-case scenario for the stock market.
Fixed-income traders are betting that the Federal Reserve probably has one more interest-rate hike because the latest economic data displayed moderate resilience. For instance, the 3.5% U.S. unemployment rate announced on April 7 is the lowest measure in half a century.
The U.S. treasuries market suggests a 76% chance that the Federal Reserve will bolster the benchmark by 0.25% on April 29, according to Bloomberg. There's also the added uncertainty of the banking crisis's impact on the sector, with JPMorgan Chase, Wells Fargo and Citigroup scheduled to report first-quarter results on Friday.
Bitcoin reaches $30K — Is this the start of the next bull run?
On this week’s episode of The Market Report, Cointelegraph’s resident expert discusses Bitcoin’s rise to $30,000.
Bitcoin reaches $30K — Is this the start of the next bull run?
On this week’s episode of The Market Report, Cointelegraph’s resident expert discusses Bitcoin’s rise to $30,000.
Ronin (RON) bags a 500% gain as the gaming-focused project approaches a major upgrade
Ronin Network’s upcoming shift to a more decentralized consensus mechanism and partnerships with gaming studios has brought significant gains for the project’s RON token.
US share of global crypto developers fell 26% in 5 years — a16z
In 2018, nearly 40% of all crypto developers were based in the United States, whereas in 2022, this figure had fallen to less than 30%.
Ronin (RON) bags a 500% gain as the gaming-focused project approaches a major upgrade
Ronin Network’s native token RON recorded 5x gains since the start of the year thanks to its plans to shift to a Delegated Proof-of-Stake (DPoS) consensus mechanism and expand its gaming portfolio beyond Axie Infinity.
The gaming-focused layer-2 Ethereum blockchain will change its current Proof-of-Authority to the DPoS consensus mechanism on April 12.
The previous mechanism had around six to nine participants securing and validating transactions on the network, which put the network at a centralization risk. It was the leading cause of the $650 million hack from the Ronin network on March 29, 2022.
The new DPoS consensus mechanism allows RON stakers to earn from the network’s fees and vote on the set of validators operating the network.
Additionally, Sky Mavis, the team behind Axie Infinity and the Ronin Network, is also working on expanding the gaming portfolio of the Ronin Network. On March 30, they announced that four new gaming studios are building on the Ronin Network, including Tribes Studio, Bali Games, Directive Games and Bowled.io.
