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Crypto News

Mastercard Drives Innovation in Crypto Sector with Beta Launch of their Blockchain App Store

Mastercard is set to launch a beta version of its Multi-Token Network (MTN) this summer in the UK. The goal is to test pilot applications with financial institutions, fintechs, and central banks. Built on Ethereum, the permissioned blockchain aims to enhance Mastercard's payment capabilities. Developers are encouraged to participate in the MTN Innovation Sprint, focusing on building apps starting with tokenized bank deposits. Mastercard prioritizes safety and security, particularly in the wake of recent hacking incidents. Additionally, the company has partnered with crypto exchanges to enable debit or prepaid cards for purchasing digital assets.

Blockworks - 1154 ngày trước

North Carolina House Takes Positive Step towards Studying Virtual Currency, Including Bitcoin

North Carolina's House of Representatives has passed House Bill 721, which includes provisions to study the acquisition and benefits of virtual currency, focusing on Bitcoin. The bill aims to examine securely holding, insuring, and liquidating virtual currency for the state. The study will evaluate the potential impact of allocating funds to virtual currency to hedge against inflation, reduce volatility, and increase returns. The bill also emphasizes assessing costs, benefits, and security measures of different depository options. North Carolina is taking a proactive approach to studying Bitcoin and its potential advantages.

Bitcoin Magazine - 1154 ngày trước

Sony Network Communications Partners with Startale Labs for Advancing Web3 Solutions through $3.5 Million Investment

Sony Network Communications, a subsidiary of Sony, has announced a $3.5 million investment in Web3 infrastructure tech company Startale Labs. The partnership aims to develop Web3 services and products, focusing on bridging real-world assets with the Web3 ecosystem. Sony's involvement will allow Startale Labs to learn and leverage new opportunities. Jun Watanabe, president of Sony Network Communications, has been appointed as director of Startale Labs. Sony's engagement in Web3 initiatives extends beyond its fiber optic internet service provider role to include nonfungible tokens (NFTs).

cointelegraph - 1154 ngày trước

UK Law Commission Introduces New Property Law Category for Crypto Assets

UK Law Commission proposes new category of personal property to accommodate crypto assets, including digital objects like cryptocurrencies and NFTs. The Commission suggests creating a panel of experts to advise courts on legal issues related to digital assets. These steps align with the UK government's goal of becoming a global crypto hub. The report also highlights the need for a bespoke legal framework for collateral arrangements involving crypto assets. The recommendations aim to provide more protection for crypto holders and support the growth of the UK tech industry.

Reuters - 1154 ngày trước

Partnership Between Tether and Georgia Aims to Develop Robust Bitcoin and P2P Payment Systems

Stablecoin issuer Tether and the government of Georgia have signed an MoU to collaborate on developing Bitcoin and P2P infrastructure. The partnership aims to attract international investment, educate on Bitcoin and blockchain, build payment infrastructure for merchants, and establish a resilient P2P communication system. The collaboration also intends to create an autonomous financial and communication system, improve existing infrastructure, and support blockchain-based solutions. Georgia will establish a special fund for local startups to foster blockchain technology development and position the country as an appealing ecosystem for tech startups.

cointelegraph - 1154 ngày trước

Crypto Literacy Set to Surge as 92% of People Worldwide Are Familiar with Cryptocurrencies, Survey Shows

A recent survey conducted by ConsenSys and YouGov reveals that 92% of people worldwide are aware of cryptocurrencies, like Bitcoin, with developing regions showing strong recognition and interest. Over 70% of respondents in Nigeria accurately guessed the definition of a blockchain. However, only 8% of those surveyed are familiar with the concept of Web3. In countries facing currency instability, such as Argentina, 56% of respondents expressed a higher likelihood of owning cryptocurrencies. As web3 projects gain traction, crypto literacy rates are expected to increase.

newsbtc - 1155 ngày trước

Macro Guru Raoul Pal Anticipates Cryptocurrencies to Shine Brighter Than Stocks and Tech Equities

Real Vision CEO Raoul Pal predicts that cryptocurrencies will outperform stocks and tech equities as global liquidity continues to rise. He believes crypto will be the best-performing asset class due to the debasement and liquidity cycle. Pal also highlights the US Investor Intelligence Sentiment Survey, indicating depressed sentiment metrics and a strategic buy signal for equities. While he anticipates a correction in the stock market following a significant rally, Pal expects market liquidity to increase, potentially fueling a surge in cryptocurrencies.

The Daily Hodl - 1155 ngày trước

Grayscale's Bitcoin and Ethereum Funds Generate Remarkable Revenue

Grayscale, a prominent asset manager in the cryptocurrency space, reported its highest estimated revenues since May 2022. The company earned approximately $44.13 million from its Grayscale Bitcoin Trust (GBTC) and Ethereum fund, ETHE. This comes as several other asset managers are entering the crypto fund market with spot bitcoin ETFs. Grayscale is also seeking to upgrade GBTC to a spot bitcoin ETF, but faces a legal battle with the U.S. Securities and Exchange Commission. The competition and potential upgrade may impact Grayscale's valuation and lead to fee reductions and potential outflows.

theblock - 1155 ngày trước

Jeremy Allaire, CEO of Circle, Holds Positive Outlook for Bitcoin ETFs' Approval

Circle's CEO, Jeremy Allaire, is optimistic about the approval of Bitcoin exchange-traded funds (ETFs) due to progress in addressing regulatory concerns. He cites mature spot markets, regulated custody infrastructure, and improved market surveillance as factors supporting approval. U.S. SEC has received ETF applications from prominent asset managers like BlackRock and Invesco. The success of ProShares' Bitcoin Strategy ETF, a bitcoin futures fund, with a weekly inflow of $65 million, indicates ongoing investor interest. Allaire also notes the demand for digital dollars in emerging markets, with Singapore and Hong Kong playing significant roles.

coindesk - 1155 ngày trước

Asset Management Titans with $27T AUM Show Strong Support for Crypto, According to CoinShares CSO

Major US financial institutions with $27 trillion in assets under management are actively seeking exposure to Bitcoin and other cryptocurrencies. Companies such as BlackRock, Fidelity, JP Morgan, Morgan Stanley, Goldman Sachs, BNY Mellon, Invesco, and Bank of America are signaling their interest in digital assets. CoinShares chief strategy officer (CSO), Meltem Demirors, emphasized the growing involvement of institutions in the crypto space. While the $27 trillion represents a substantial amount, only a fraction of it is likely to be allocated to crypto investments.

cointelegraph - 1156 ngày trước

Crypto News

Bitcoin Open Interest Surges by $1.8 Billion as Price Breaks $27,000

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.

newsbtc - 1072 ngày trước

Bitcoin Poised for Parabolic Rise with Institutional Capital Inflow, Says Morgan Creek Capital Founder

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.

The Daily Hodl - 1072 ngày trước

Citigroup Leads the Way with Permissioned Blockchain for Institutions

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.

Blockworks - 1072 ngày trước

Bitcoin Dominance Soars Above 50%, Emerging as the Crypto Safe Haven

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.

U.Today - 1072 ngày trước

Animoca Game Studio Pioneers Bitcoin-Backed Metaverse Token, Ushering in Bitcoin's Next Phase

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.

Bitcoin News - 1073 ngày trước