Avanti Financial Group seeks to become the second crypto company after Kraken Financial to acquire a full banking charter in the United States. Avanti Financial Group, a digital asset bank, announced on Thursday that it has completed its Series A funding round with $37 million, bringing its total raised capital since inception to $44 million. According to the company, the funds will be used in various projects including regulatory compliance, operational expenses, and also engineering services. Avanti Financial CEO Long on the Funding In a statement during the announcement, Caitlin…
Day: March 26, 2021
Bitcoin no longer a fringe asset due to US dollar debasement, says Soros Fund exec
Soros Fund Management chief information officer Dawn Fitzpatrick said Bitcoin (BTC) may once have been considered a fringe asset, but the inflation of the United States dollar has changed that. Speaking to Bloomberg, Fitzpatrick said her firm โ an asset management fund created by global investor George Soros โ had recently begun to take an interest in Bitcoin. โWe think the whole infrastructure around crypto is really interesting, and weโve been making some investments into that infrastructure โ and we think that is at an inflection point,โ said Fitzpatrick. That…
Bitcoin Addresses Holding 1 BTC or Less Steadily Growing
According to a cryptocurrency statistics tracker Glassnode, the number of bitcoin addresses holding 1 BTC or less has accumulated 5.20% of the total bitcoin supply.ย Digging Into The Future Glassnode revealed the share of all mined BTC by these addresses three years ago was 3.97%, which has now increased by 1.23%. BTC has been running circles between the $53K and $61K zones during the week, as analysts debate whether the market will tread a bullish trend or grow bearish. At press time, the BTC market cap stands at $992 billion.…
Backlash Following Later Than Expected Rollout For Cardano Smart Contracts
At yesterdayโs Cardano 360 event, IOHK CEO Charles Hoskinson gave an update on the long-awaited Alonzo upgrade. Due to stress testing and exchange integration, Hoskinson expects a rollout in mid-August. IOHK had previously penciled in a date of the end of March 2021 for this to happen. A five-month delay hasnโt gone down well with some sections of the community. Cardano Smart Contracts Wonโt Be Ready This Month The Goguen phase is the great equalizer in terms of bringing smart contracts to Cardano. It was split into three development stages.…
Bank of Japan Forms Committee to Coordinate CBDC Efforts
While the Bank currently has no plan to issue central bank digital currency (CBDC), from the viewpoint of ensuring the stability and efficiency of the overall payment and settlement systems, the Bank will prepare thoroughly, including implementing experiments, to respond to changes in circumstances in an appropriate manner. In the course of CBDC exploration, the Bank considers it important to apply the knowledge of various stakeholders such as the private sector, experts, and relevant public authorities.Statement from the Liaison and Coordination Committee on Central Bank Digital CurrencyBank of Japan Source
Chinaโs digital yuan is backup to AliPay and WeChat Pay, says official
Chinaโs central bank digital currency, or CBDC, will provide backup for major retail payment services like AliPay and WeChat Pay as its key objective, according to an official at the Peopleโs Bank of China. Mu Changchun, head of the Peopleโs Bank of Chinaโs digital currency research institute, claimed that Chinaโs digital yuan is needed to ensure financial stability in case โsomething happensโ to AliPay or WeChat Pay, the South China Morning Post reports. Speaking at an online panel discussion on Thursday, Mu stated that Alibabaโs Alipay and Tencentโs WeChat Pay…
Bitcoin buyers mean business as Coinbase reserves drop $8B in 3 months
Bitcoin (BTC) may have shed $10,000 in a week but the cryptocurrency’s “supply crisis” is more real than ever. According to the latest data from on-chain monitoring resource Glassnode, exchange BTC reserves are at an all-time low. Everyone wants BTC In a telling depiction of investor strategy, exchange reserves have plummeted in recent months โ and have continued dropping despite mixed price action. Hodlers, it seems, want to hodl rather than trade or sell, even at all-time highs above $60,000. At Coinbase, the largest U.S. exchange by volume, BTC stocks…
Bitcoin Retail Investors Confident About $50,000-Price Bottom
Bitcoin fell from about $60,000 to nearly $50,000 this week, but it has not deviated retail interest, according to Robbie Liu of OKEx. The investment analyst cited renewed buying activity near the $50,000 level among retail investors, confirmed by the rising long/short ratio and the rising USDT premium in the Asian market. The long/short ratio compares the total number of users opening long positions versus those opening short positions. Bitcoin climbed by more than 7 percent after testing $50,000-area as its support. Bitcoin bounces off the $50,000 area. Source: BTCUSD…
Bitcoin Miners are Now Holding BTC, Uptrend Likely in April
In brief: Bitcoin Minersโ Position Index (MPI) has been low since March 6th Bitcoin miners are now holding BTC rather than selling 90k Bitcoin options expired earlier today on Deribit, removing the anxiety of additional selling April could be a green month based on historical data Bitcoin miners are now holding their BTC rather than selling it in the crypto markets as witnessed when Bitcoin exceeded $42k. This is according to data from CryptoQuant.com that illustrates that the Bitcoin Minersโ Position Index (MPI) has been significantly low since March 6th.…
Cryptocurrency Market Capitalization | What you should know about Crypto Cap.
โถ Coinbase Website: Coinbase.com โถ CEX Website: cex.io Find out what is Crypto Market Capitalization in this video. ๐What do you need to know before investing in cryptocurrenciesโ ๐What is a large market cap crypto/companyโ COMMENT BELOW & TELL US WHAT YOU WANT TO KNOW!!! ๐Stay with us until the end of the video & subscribe๐ You can also watch: ๐What is CryptoโโCryptocurrencies Explained. ๐BITCOIN | Is Bitcoin a GOOD INVESTMENTโโ ๐How Ethereum works! What you should know before Investing in Cryptocurrencies!โคต๏ธ ๐What is XRP and RIPPLEโ | Is banking…