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Crypto News

Goldman Sachs Exposes 32% of Home Offices Involved in Digital Assets Investment

A recent Goldman Sachs report indicates that cryptocurrencies are gaining popularity among family offices, with 32% currently holding investments in digital assets. The proportion of investments in cryptocurrencies has risen from 16% to 26% since 2021. 19% of investors cited the potential benefits of blockchain technology as their motivation for investing in digital assets. This suggests that cryptocurrencies are gaining a foothold among investors, despite a decline in overall interest in digital assets. Goldman Sachs' success during the recent banking crisis highlights the potential for cryptocurrencies to provide robust returns.

cointelegraph - 1204 ngày trước

Digital Asset Forms Partnership with Deloitte, Goldman Sachs and More for Blockchain Network

Digital Asset, a fintech firm, has launched a privacy-enabled blockchain network called the Canton Network. The network aims to provide a decentralized infrastructure for institutional clients, with participants including BNP Paribas, Deloitte, Cboe Global Markets, Goldman Sachs, Broadridge, S&P Global, and Microsoft. The Canton Network connects applications built with Digital Asset's smart-contract language, Daml, allowing various systems in financial markets to interoperate and synchronize, and execute atomic transactions across multiple smart contracts. The solution is seen as a building block for future digital and distributed financial market infrastructures.

coindesk - 1204 ngày trước

PayPal's Crypto Holdings Exhibit Phenomenal Growth, Approach $1 Billion

PayPal has disclosed $1 billion of cryptocurrency holdings in its Q1 earnings report to the U.S. Securities and Exchange Commission (SEC), representing a 30% increase since Q4 2022. The fintech owns $499 million in Bitcoin, $362 million in Ethereum, and $82 million in Bitcoin Cash and Litecoin. PayPal allows its customers to buy, hold, sell, receive, and send cryptocurrencies and use sale proceeds at checkout, entrusting custody to third-party trusts. This can help drive wider crypto adoption beyond the existing user base.

BeInCrypto - 1204 ngày trước

Crypto Market Success Fuels Galaxy Digital's $134 Million First-Quarter Profit

Galaxy Digital, the New York-based cryptocurrency-focused financial services firm, reported a strong Q1 2023 with $134 million in net income, attributed to gains on digital assets and investments, marking its first profitable quarter since end-2021. Galaxy Digital Asset Management recorded assets under management of $2.4 billion, a 40% increase from the previous quarter but an 11% decrease from the same period in 2022. The cryptocurrency market's rebound, driven by bitcoin's 70% increase in value, led to the company's first profitable quarter since end-2021.

coindesk - 1205 ngày trước

Robert Kiyosaki Recommends Bitcoin Investment as Financial Collapse Looms

Robert Kiyosaki, author of Rich Dad Poor Dad, has warned of an imminent financial collapse following a massive increase in the yield of one-month Treasury Bill (T-Bill). He recommends Bitcoin, gold, silver, and home defense as the best life raft. KKiyosaki also predicts a Bitcoin will soon surge to $100,000, as US banking troubles will drive people to view Bitcoin, gold, and silver as safer investments. He believes these assets are fundamentally sounder than banks, and people should prepare accordingly.

The Daily Hodl - 1205 ngày trước

Dubai Emerging as Key Global Financial Hub for Crypto Innovation, Says Ripple CEO

Ripple is expanding into Dubai, with plans to open a new office in the Dubai International Financial Centre and host its seventh annual customer conference in the UAE capital. CEO Brad Garlinghouse cited the region's recent developments in the crypto regulatory environment and its consumer base as the primary reasons behind the move. Dubai's Virtual Assets Regulatory Authority (VARA) recently published its 2023 rulebook for regulating the crypto industry, as part of the Emirate's bid to become a financial technology hub in the region.

Finbold - 1205 ngày trước

Coinbase CEO Brian Armstrong Expands Company Vision in UAE

Coinbase executives, including CEO Brian Armstrong and VP Nana Murugesan, are in the UAEto explore strategic developments in the region. The UAE is a potential hub for Coinbase, with its clear crypto regulations, dedicated crypto regulator, and strong investor and customer protection. Coinbase plans to engage with policymakers, regulators, partners, and clients to capitalize on the growing adoption of crypto and Web3 in the country, where over 11% of the population own cryptocurrency.

CoinGape - 1205 ngày trước

Liechtenstein's Prime Minister Proposes Bitcoin Payment for Public Services

Liechtenstein's Prime Minister, Daniel Risch, plans to enable citizens to pay for government services with Bitcoin, with payments being converted to Swiss francs. Zug and Lugano have already implemented Bitcoin payments for taxes and public service costs. Liechtenstein's adoption of cryptocurrency follows the implementation of the Liechtenstein Blockchain Act, attracting blockchain-based companies. Risch confirmed the inclusion of a Bitcoin payment option but did not provide details. Liechtenstein's advanced policies and financial industries position it as a unique niche in the global crypto industry.

BeInCrypto - 1206 ngày trước

Deloitte Implements Blockchain to Enhance Digital Credentials

Accounting firm Deloitte has integrated blockchain technology to streamline the verification process using KILT Protocol, a Polkadot parachain. Digital credentials stored in a wallet can be reused for various use cases, including regulatory compliance for banking and DeFi, age verification, private logins, and fundraising. Deloitte can revoke credentials if customer conditions change. KILT's identity solutions allow for control over sharing personal information, while Polkadot provides enterprise-scale security. The integration improves the "typically inefficient" Know Your Customer (KYC) and Know Your Business (KYB) verification processes and safeguards against illegal activity.

cointelegraph - 1206 ngày trước

Crypto Mining Taxes Boost Kazakhstan's Revenue with $7 Million in 2022

Kazakhstan collected 3.07 billion tenge (approximately $7 million) in taxes from crypto mining in 2022, contributing 13.22% of the global Bitcoin hash rate. Despite a decrease in fees, preliminary data shows the government collected 240 million tenge - worth over $541,000 by April 27, 2023. New regulations aim to reduce tax evasion and illegal operations, and the country's adoption of mining taxes is considered a legal path for further adoption amid tightening regulations worldwide. Foreign mining operators relocated to Kazakhstan during the last bull market, indicating positive adoption.

cointelegraph - 1206 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