Day: July 13, 2021

DeFi Lending: 3 Major Risks to Know

As with most things in the financial world, when something promises extremely high rates of return there’s usually a catch. DeFi lending is no exception. To put it simply, DeFi, shorthand for decentralized finance, is an ecosystem of blockchain-based applications that offer a range of financial services similar to those provided by traditional banks, insurance brokers, and other financial intermediaries. The main difference being, these decentralized applications, known as dapps, run autonomously without any third party acting in the middle. That’s because each dapp is powered by a smart contract…

Grayscale Selects BNY Mellon To Service its Bitcoin Trust & Future ETF

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Grayscale Investments has entered an agreement with The Bank of New York Mellon Corporation, also known as BNY Mellon Effective Oct. 1st, BNY Mellon will become an asset servicing provider for the Grayscale Bitcoin Trust BNY Mellon will also provide transfer agency and ETF services for the Grayscale Bitcoin Trust once it gets converted into an ETF in the future As of March 31st, 2021, BNY Mellon had $41.7 Trillion in assets under custody and/or administration The Wall Street firm of Grayscale Investments has announced a new agreement with The…

Bitcoin (BTC) Dips to $32.2k as US Consumer Index Increases By 5.4%

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The US Consumer Index has risen by 5.4% in June from a year ago This increment is the highest annual rate increment since August 2008 The US consumer is paying more for goods and services as inflation bites News of the increased Consumer Index has caused Bitcoin to once again lose its $33k support to post a local low of $32.2k The US Bureau of Labor Statistics has just released June’s Consumer Price Index which indicates that it has risen by 5.4% from a year ago. According to their analysis,…