Day: December 3, 2020

SEC’s fintech wing leaves the nest, becoming stand-alone office

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Per a Dec. 3 announcement, the Securities and Exchange Commission’s fintech team will become an independent office. Initially launched in 2018 under the guidance of Bill Hinman, the SEC’s Strategic Hub for Innovation and Financial Technology, or FinHub, has been a leading force in securities regulation as it applies to new technologies since its inception. Given that the same timeframe has seen a major ramping up of the SEC’s pursuit of initial coin offerings it deemed to have been unregistered security sales, FinHub has been busy. The shift to an independent…

Wrapped Bitcoin ‘Burns’ Increase as Traders Rotate Capital Out of Cooling DeFi

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Wrapped Bitcoin, the bitcoin-backed token on Ethereum now worth over $2 billion, has seen an increase in burns (or “unwrappings”) by some of its largest users as the Ethereum-based decentralized finance sector continues to cool. BitGo clients like Three Arrows Capital and Alameda Research are exchanging an increasing amount of their tokenized bitcoins minted earlier this year for real bitcoins as the bullish cryptocurrency market continues to center on bitcoin and Ethereum’s decentralized finance takes a back seat for now.  “In general, the yield has dipped in DeFi and the…

“Most Profitable Buy Signal” Triggers As Bitcoin Consolidates Below ATH

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Bitcoin is the best investment of 2020, up more than 150% year-to-date during a year filled with more uncertainty than ever before. That same uncertainty has helped bring the cryptocurrency back to prices near $20,000. And rather than rejection and bear market this time around, Bitcoin’s most profitable buy signal ever has just triggered, suggesting that the returns from this year are just the start of what is to come. Here’s a closer look at the significance of the signal, and some theories on what potentially to expect if history…

Though centralized, a digital yuan is too big for China to surveil, says Cypherium CEO

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There are technical limits to even the most technologically ambitious of central banks. So says Sky Guo, CEO of Cypherium — an enterprise blockchain platform that has partnered with a number of Chinese cities and has worked with projected central bank digital currencies. “CBDC is definitely really hot with central banks these days,” said Guo. CBDCs are all the rage this year, largely due to a surge in fiat-pegged stablecoin value and a sudden interest in upgrading non-cash systems amid the COVID-19 pandemic. But while the talk surrounding CBDCs involves…

Bitcoin is the ‘wrong price for the possibilities it has,’ says Paul Tudor Jones

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Legendary investor Paul Tudor Jones has likened Bitcoin (BTC) to precious metals, and other cryptocurrencies to industrial metals, in terms of use case — a clear indicator of where he thinks the market is headed over the next 20 years.  In a Thursday interview with Yahoo Finance’s Julia LaRoche, Jones outlined his vision of the digital currency market over the next several decades. “I’m not an expert on Bitcoin by any stretch,” Jones said, adding: “With a market cap of $500 billion, it’s the wrong market cap in a world…

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Today’s Top 5 NFT Crypto Games / Leading NFT Games of 2020

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The value of the video game market in the US in 2020 is estimated to be $60.4 billion USD. Consumer spending on video games in just the second quarter in the US alone was $11.6 billion USD. In a market like this, competition is fierce. Here’s a list and overview of today’s top 5 crypto games analyzed by Millennium Communications, covering a wide variety of styles. All use the popular Non-Fungable Token, or NFT as integral to each game. With these top picks chosen for their ease of use, popularity,…

This bull market is different because people already know about crypto, Celsius CEO says

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Google searches for Bitcoin (BTC) appear to be far less popular today than they were when the asset achieved its previous all-time high in December 2017. “2017 was all about hype and first-time users jumping in to try to catch BTC because of FOMO (Fear Of Missing Out),” Celsius CEO Alex Mashinsky told Cointelegraph. “This time, it is different,” he noted. “The fact almost no one is searching for BTC,” said Mashinsky, referencing data from Google Trends, “tells you everyone already knows what it is and where to buy it (cash app or…

Real Vision CEO Reveals Significant Stake in Bitcoin

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Bitcoin’s rise in 2020 has been remarkable and driven majorly by institutional investors in the leading currency. Financial TV company Real Vision is the latest to reveal that it has a significant amount of stake in Bitcoin. Real Vision Investment Yielded 60% In Three Months Real Vision Ceo Raoul Pal revealed to decrypt, that his company invested 10% of its cash reserves in Bitcoin three months ago. The investment was made via crypto lending services BlockFi. Pal revealed that Real Vision had done their analysis and it was a relatively…