Day: February 19, 2021

KPMG, BitGo, Coin Metrics Joins Hands to Unveil New Crypto Suite for Institutional Adoption

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The combined suite of products aims to provide services like risk management, compliance, and control patterns with crypto investments thereby providing a boost to institutional adoption. On Thursday, February 18, KPMG, BitGo and Coin Metrics joined hands for a new project with the aim of boosting institutional crypto adoption. This combined suite of products includes KPMG Chain Fusion services, capabilities and accelerators, BitGo custody technology, and Coin Metricsโ€™ data and intelligence products. Besides, the new product aims to help banking and financial institutions to offer crypto and digital asset products…

Austrian regulators call for stricter crypto regulations amid rising fraud

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Austrian regulators are calling for stricter crypto laws amid a spate of elaborate investment scams involving cryptocurrency and digital assets. According to a Bloomberg report of Friday, Austriaโ€™s Financial Market Authority has revealed that more than 60% of all reported financial fraud in the country involve crypto trading products. The FMA says these crypto scammers are using social media platforms like Telegram and TikTok to advertise their fraudulent offerings to would-be victims. Commenting on the need for stricter crypto regulations to curb the menace of these fraudulent investment activities, Klaus…

Crypto is โ€˜poorest hedgeโ€™ for drawdowns in equities, JPMorgan analysts say

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Analysts at American investment bank JPMorgan Chase have delivered another skeptical statement on Bitcoin (BTC), arguing that its current price is much higher than its fair value. In a regular memo for investors, JPMorgan argued that cryptocurrencies like Bitcoin are an โ€œeconomic side showโ€ and the poorest hedge against a decline in equity prices, Reuters reports Friday. The analysts said that the mainstream adoption of Bitcoin increases its correlation with cyclical assets, which makes it a less attractive asset for portfolio diversification: โ€œCrypto assets continue to rank as the poorest…

Canada’s Bitcoin ETF Debut Performance, Hit or Miss?

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The first Bitcoin ETF in Canada went live on Thursday. In the first hour, around $80M shares were traded. By the end of the day, $165M shares had been exchanged. The crypto community ended last week with exciting news after the approval of North Americaโ€™s first Bitcoin ETF. Although Bitcoin interest in Canada is not as high compared to the like of the US, India, or Japan, the real excitement stemmed from the fact that the US was likely to follow the trend. But so far, has the Canadian Bitcoin…

Fortune 500 firm Geely to launch joint blockchain venture in China

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Swiss enterprise blockchain developer, the Concordium Foundation, has signed a joint venture agreement with the $200 billion Chinese conglomerate, Geely Holding Group โ€” the largest shareholder in Volvo and a Fortune Global 500 company. ย  The joint venture will be 80% owned by Geely and 20% owned by Concordium, but operationally co-managed by both companies. The venture aims to provide Chinese businesses and clients with access to new blockchain platform-based business models and decentralized applications, or DApps, which can be deployed across various industries. As previously reported, Concordium is a…

Is political extremism tarnishing blockchain by association?

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The attack on the U.S. Capitol last month led to the deplatforming of former President Donald Trump from Twitter and Facebook. Amazon, Apple and Google stopped hosting Parler, a free speech app that had been the platform of choice for many sympathetic to extremist, far-right ideas. Gab, an alt-Twitter app that is home to right-wing incendiaries like Milo Yiannopoulos and Alex Jones, has been accused of enabling the attack by allowing violent-provoking speech on the platform. Despite this, the Gab user base has surged since the attack. Other privacy-focused chat…

Binance Coin (BNB) Tops 3rd Place Hitting $270 According to Coinmarketcap

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BNB has made history by moving Tether (USDT) stablecoin from the position of third top digital asset by market capitalization. The altcoin market is getting heated up. Binance native coin BNB is leading the way after rallying astronomically to take the third position by market capitalization. The asset surged earlier today to hit its all-time high at $276.64 according to market data provided by CoinMarketCap. Notably, BNB shot from trading below $200 yesterday to the new all-time high. As a result, the rise has seen BNBโ€™s market capitalization surge to…

Bitcoin’s Liquidity Crisis Leads to Another Demand-Driven Record High

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Bitcoin bulls are not running out of fuel. On Friday, traders once again raised their bids for the worldโ€™s leading cryptocurrency, sending its prices to another record peak after Grayscale Investments, a New York-based crypto investment vehicle, added 1,672 BTC to its already-ballooning bitcoin stockpile. The firm now holds 655.44 BTC, worth almost $33.5 billion. Grayscaleโ€™s accumulation spree removed more bitcoin from circulation against its rising demand among retail and institutional investors. In a note published Thursday, analyst Ben Lilly highlighted that bitcoin investment made by Grayscale, Tesla, MicroStrategy, Ruffer…

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