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In order to test instant payments using retail cross-border central bank digital currency (CBDC), Sweden's Sveriges Riksbank is collaborating with its counterparts in Israel, Norway, and the Bank for International Settlements (BIS). A final report is anticipated in the first quarter of 2023, according to the press release, and the "Project Icebreaker" program will run through the end of the year.
The CEO of Citadel, Kenneth C. Griffin finds it ironic that people use assets like cryptocurrencies to distance themselves from the government, which, in his opinion, they still rely on to address a variety of issues for them. Griffin claims that a large portion of the government's borrowing and stimulus programs at the beginning of the pandemic "cycled back into speculative assets, in many cases into NFTs, into cryptocurrency, into meme stocks."
According to reports, BlackRock, the biggest digital asset manager in the world, has introduced a blockchain exchange-traded fund (ETF) for the European market. According to reports, BlackRock, the biggest digital asset manager in the world, has introduced a blockchain exchange-traded fund (ETF) for the European market.
According to President Kassym-Jomart Tokayev, Kazakhstan is prepared to legalize a system for converting cryptocurrencies into fiat currency as demand for it Increases. Tokayev emphasized that Kazakhstan wants to lead the world in digital technology, the ecosystem of cryptocurrencies, and regulated mining. He mentioned that Kazakhstan's national law has been amended by the government in order to test a mechanism for converting cryptocurrency at the Astana International Financial Centre.
After two months of battle testing, the Internet of Things blockchain ecosystem IOTA officially launched the Shimmer network on September 28. The network serves as a staging area for the IOTA ecosystem and is an extension of the Directed Acyclic Graph (DAG) blockchain used by IOTA. Updates to products, like the IOTA 2.0 upgrade, will be tested and verified using it. Additionally, the execution layer for smart contracts in Shimmer fully supports the Ethereum Virtual Machine.
The digital asset trading platform Crypto.com, based in Singapore, has received authorization to function as a DASP in France. According to the announcement, the trading platform has registered with France's top markets regulator, the Autorité des Marchés Financiers (AMF). All businesses seeking to offer custody and trading services for digital assets, as well as "buying or selling digital assets in legal tender" in the nation, must register.
Investors appear to be turning to Bitcoin (BTC) to maintain stability as the British pound continues to decline against the raging US dollar. The skyrocketing trading volume for Bitcoin and the British pound emphasizes investors' preference for the leading cryptocurrency. According to data from CoinShares' head of research, the trading volume of GBP-BTC on exchanges reached a record $881 million on September 26. The amount typically equals $70 million per day on average.
To eventually transition more traditional financial assets onto digital rails, WisdomTree is preparing to introduce a fund that digitizes its fund share ownership record on the Ethereum or Stellar blockchains. According to the company, regulators have approved WisdomTree's Short-Term Treasury Digital Fund (WTSY), which invests in short-term US Treasury obligations and aims to track the Solactive 1-3 Year Treasury Bond Index.
Cryptocurrency could resurface, according to billionaire investor Stanley Druckenmiller, as people start to lose faith in their central banks. Given the state of the global economy and the Fed's uphill battle against both inflation and recession, the hedge fund manager believes that this outcome is becoming more and more likely. In the long run, he believes that cryptocurrency will increase if central banks start to change their policies, much like the Bank of England did on Wednesday.
In an initial proof-of-concept, Chainlink, a supplier of price feeds and other data to blockchains, and SWIFT, the interbank messaging system that permits cross-border payments, are working on a cross-chain interoperability protocol (CCIP). In an initial proof-of-concept, Chainlink, a supplier of price feeds and other data to blockchains, and SWIFT, the interbank messaging system that permits cross-border payments, are working on a cross-chain interoperability protocol (CCIP).
Bitcoin's Open Interest has surged by $1.8 billion as its price broke the $27,000 mark, indicating a strong influx of investor interest. Open Interest tracks the total value of Bitcoin futures contracts open on derivative exchanges, with rising figures signifying increased market activity and potential volatility. The recent jump from $11.04 billion to $12.81 billion suggests heightened trading and leveraged positions. The future direction of Bitcoin's price remains uncertain, with the surge potentially fueled by shorts covering positions or longs hoping for further gains. The funding rate suggests a balanced mix of long and short positions.
Morgan Creek Capital founder Mark Yusko predicts a bright future for Bitcoin (BTC) as institutional capital worth hundreds of billions is expected to enter the market. Yusko points to Bitcoin's historical trend of adding a zero to its price following each halving event, with the next one slated for April 2024. He anticipates a 1.5x increase from the current all-time high, potentially reaching $100,000. Additionally, Yusko believes Bitcoin exchange-traded funds (ETFs) will be approved by late 2023 or early 2024, leading to a substantial influx of capital into the cryptocurrency.
Citigroup has unveiled Citi Token Services, a permissioned blockchain platform designed for institutional clients, offering access to tokenized deposits, cross-border payments, and automated trade finance around the clock. This move aligns with Citigroup's goal of creating a 24-7, on-chain, programmable financial system. The partnership with Maersk enables instant payments through smart contracts, benefiting companies with numerous vendors. Citi Token Services also aids corporate treasurers in managing global liquidity more efficiently. Meanwhile, JPMorgan is reportedly still in the early stages of exploring a similar private blockchain service, lagging behind Citigroup's innovation.
Bitcoin is making a strong comeback, currently priced at $26,684 and holding over 50% of the total cryptocurrency market, boasting a market cap of approximately $520 billion. This milestone is significant as it contrasts with the stagnation or decline of many alternative cryptocurrencies (altcoins). Ethereum, the closest rival, sits at $1,632.09, with other altcoins showing modest gains or losses. Bitcoin's resurgence aligns with historical trends, often thriving during bear markets, cementing its status as a digital "safe haven." Despite gains, it remains below its peak dominance levels, but its return to prominence is noteworthy.
Animoca Brands subsidiary Darewise Entertainment is set to introduce the first-ever metaverse token on the Bitcoin blockchain. The token is aimed at powering a comprehensive ecosystem for gaming, brands, and real-world experiences. This move represents a significant expansion of Bitcoin's capabilities beyond a store of value. The metaverse token will facilitate in-game assets and virtual lands for the Life Beyond metaverse project, marking a new era for Bitcoin. Darewise Entertainment is partnering with Horizen Labs to develop and expand the Ordinals ecosystem on Bitcoin, with more innovations expected in the coming months.