Day: October 22, 2021

BITCOIN IS THE CLEAR WINNER…NOTHING IS CLOSE

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Is ‘DeFi Regulation’ an Oxymoron?

We’re nearing the end of “Policy Week” here at CoinDesk, which I’ve spent focused on the particularly thorny issues of regulating decentralized finance (DeFi). The technology, which removes intermediaries like banks and exchanges from asset trading, may require a major rethink of how securities regulation works. In the short term, though, there will likely be serious crackdowns that test the reality of that decentralization. There has been a recurring theme in the reactions to these pieces: that “DeFi” subjected to any sort of limits or controls whatsoever isn’t really “DeFi.”…

Walmart Allows Customers to Buy Bitcoin at 200 Stores – News Bitcoin News

Retail giant Walmart says that bitcoin can now be purchased at 200 of its stores in the U.S. The cryptocurrency is offered through Coinstar kiosks located inside Walmart stores. Coinstar is currently offering bitcoin at more than 8,000 kiosks. Buying Bitcoin at Walmart Bitcoin can now be purchased at 200 Walmart stores in the U.S., the company reportedly said Thursday. This is part of a pilot program with Coinstar, which operates machines that allow customers to exchange U.S. coins for paper bills or gift cards. The pilot began earlier this…

Hilbert Group forms COIN360 JV with Cointelegraph and Chiron Partners

Sweden-based Hilbert Group AB, United States-based Cointelegraph and Asia-based investment group Chiron Partners will join forces to launch a new business of COIN360. Under this joint leadership, COIN360 will expand its product suite to become a full-service market data provider covering the full spectrum of digital assets — including decentralized finance (DeFi), nonfungible tokens (NFTs) and security token offerings — for both institutional and retail traders. Under the new arrangement, COIN360, the crypto market data provider with 4 million monthly visits known for its iconic heatmap, will become a joint…

Why a Bitcoin Futures ETF Is Bad for Investors

Demand is so strong, Bloomberg reported, that ProShares is close to exceeding the Chicago Mercantile Exchange’s limit on the total number of contracts an entity can own. Bloomberg’s analysis found that, with a stash of 1,900 contracts in the current October month – just shy of the 2,000 limit for a single month – the fund has had to diversify into longer-dated contracts. It now holds 1,400 November contracts, but may have to go further out the curve into December if demand keeps up. Even then, the fund faces an…

Crypto News Roundup for Oct. 22, 2021

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Crypto platform Rally commits $12M to third-party developers

Crypto-social platform Rally has earmarked $12 million for external developers to improve the functionality of the ecosystem, potentially setting the stage for new innovations that would benefit creators.  The grants program will be distributed through RLY tokens, the native cryptocurrency of the Rally ecosystem, the company announced Friday. A community-elected developer council controls $5 million worth of RLY, giving it considerable sway over which types of bounties and rewards get distributed. Prior to establishing the new program, Rally awarded third-party developer grants to Bonfire, MintGate and David Young, the creator…

Bitcoin at Your Bank: NYDIG Names First 2 Firms to Roll Out BTC Buys

A partnership first announced in June is starting to bear fruit. Digital banking company Q2 Holdings said Friday that Five Star Bank and UNIFY Financial Credit Union will be the first to offer their customers the ability to buy, sell and hold bitcoin through a tie-up with NYDIG, an institutional bitcoin broker. This partnership will allow everyday banking and credit union customers to trade and hold bitcoin alongside their existing accounts, avoiding the use of cryptocurrency exchanges. Five Star Bank has about 50 branches in Western New York. Torrance, California-headquartered…

A watershed moment or stopgap?

But others, like Arca CEO Rayne Steinberg, had “mixed feelings” about the events. While pleased that a much-awaited crypto investment vehicle finally received regulatory approval — ending eight years of futility on the part of U.S. fund issuers — he had some misgivings about the product that finally met the approval of the SEC, specifically the fact that it was futures-based and didn’t track the price of Bitcoin (BTC) directly. “We do not think a futures ETF is a good way to get Bitcoin exposure,” he said in a blog,…

VeChain Breaks Major Trend Line Why VET Could See Explosion

VeChain (VET) is on the move with a 10.3% and 51.4% profit in the daily and monthly charts, respectively. As of press time, the cryptocurrency trades at $0,13 and could further gain due to recent developments. VET moves sideways in the daily chart as the crypto market trends to the downside. Source: VETUSDT Tradingview After recording a potential bottom on October 20th, VET experienced a breakout to the upside, as analyst Justin Bennett claimed. Related Reading | VeChain Foundation Announces Vote To Implement Upgrade, Bullish For VET? With the Bitcoin season…