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The amount of bitcoin exchanged on the members-only digital asset exchange run by Singapore's DBS Bank increased by 80% in 2022, the company said. DDEx, also known as the DBS Digital Exchange, is accessible to a limited number of authorized investors, financial institutions, and family offices. The DDEx reported a net purchase position for all customers in the second half of 2022 despite poor market conditions, according to the bank.
The amount of bitcoin exchanged on the members-only digital asset exchange run by Singapore's DBS Bank increased by 80% in 2022, the company said. DDEx, also known as the DBS Digital Exchange, is accessible to a limited number of authorized investors, financial institutions, and family offices. The DDEx reported a net purchase position for all customers in the second half of 2022 despite poor market conditions, according to the bank.
The first non-fungible token (NFT) collection from men's fashion magazine GQ is now available, giving owners access to items, live events, and a magazine subscription. The collection, GQ3 Issue 001: Change Is Good, consists of 1,661 NFTs, linked to works of art made by artists Chuck Anderson, REO, Kelsey Niziolek, and Serwah Attafuah. Each token entitles its owner to further benefits like membership to GQ magazine, a box of hand-selected GQ goods.
A $2 billion project has been launched by Hub71, Abu Dhabi's digital ecosystem, to support blockchain and Web3 firms in the area. In addition, startups will have access to a variety of program and possible corporate, governmental, and investment partners through the Hub71+ Digital Assets ecosystem project. The program will also assist companies moving to Abu Dhabi and encourage startup development in the Middle East and other global markets.
A new law that would impose a cap of $100 on crypto donations for use in any primary or general election is being considered by the Kansas Legislature. This cap would be determined by the fair market value of the crypto once it's received by the payment processor. The bill also suggests restrictions on crypto in Kansas political campaigns saying that crypto donations must be immediately translated to U.S. dollars and placed into a campaign account.
The Standards for Efficient Cryptography (SECP) primitives have received a Valentine's Day upgrade from Input Output Global (IOG), the company that created the Cardano blockchain. With the release, developers may now create secure and affordable decentralized applications using a wider variety of native multi-signature architectures (DApps). At 21:44 UTC on February 14, the upgrade went live.
Jordan Peterson, a well-known psychologist and cultural critic from Canada, has expressed interest in joining the Bitcoin Lightning Network. Peterson was issued a challenge by a person going by the Twitter handle Joe Nakamoto, asking him to share a Bitcoin lightning address rather than use the GoFundMe fundraiser website. This is as a result of Pererson sharing a GoFundMe page that requested funds to aid a fire victim who had sustained losses.
The 24-member K-pop female group TripleS released their debut album "ASSEMBLE" on February 13 and it has already drawn a lot of attention since the group employed blockchain technology to give fans control over several aspects of the creative experience. Fans can use a polygon blockchain-based voting process to choose and create these subgroups, and each album features a rotating roster of female performers, using COMO (voting tokens).
El Salvador is establishing a second Bitcoin (BTC) Embassy in Texas after establishing its first one in Lugano, Switzerland. Milena Mayorga, the ambassador of El Salvador to the United States added that in 2022, El Salvador and the State of Texas had a commercial exchange of $1,244,636,983 and also discussed the opening of the second Bitcoin (BTC) embassy and the extension of commercial and economic exchange initiatives.
Over 4.5 million dollars were donated to Turkey's recent disaster relief efforts by the general cryptocurrency community in just seven days. Turkish scientist Emin Gün Sirer, who invented Avalanche, gave $1 million, while Sasha.waves, the founder of Waves, gave $50,000 on the first day. Icrypex, Bitget Turkey, Bitci, MexC Turkey, Bitfinex Turkey, OKX, and Gate.io regional crypto exchange platforms have donated a combined total of $371,499, or 7 million Turkish Lira.
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.