Day: January 12, 2022

‘Fan Controlled Football League’ Goes Crypto With $40M Investment From Animoca, Delphi

The Fan Controlled Football League (FCF) is gearing up for its second season after closing a $40 million Series A led by Animoca Brands and Delphi Digital, the league announced Wednesday. The FCF is an alternative professional sports league where fans vote on real-time decisions for their team, including play calling and roster management. “We call the league a real-life video game,” FCF CEO Sohrob Farudi told CoinDesk in an interview. “When you look at all the elements of the league, the buying and selling of gear, team governance, community…

Bitcoin shoots to $44,000 as US inflation hits 7.8% in December

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The latest figures from the United States Bureau of labor statistics show that the (Consumer Price Index) CPI hit 7% in December.  Bitcoin (BTC) was volatile prior to the announcement, fluctuating over $2,000 from lows of $41,000 to $43,000 on Wednesday morning. Upon release of the figures, the price continued its upward climb, touching $44,000.  Prior to the announcement, Twitter was rife with speculation. According to a poll by @coinbureau, 53% of his 580,000 followers expected CPI to overshoot the consensus estimation of 7% inflation. Macroeconomic specialist and cryptocurrency soothsayer…

Bitcoin shoots to $44,000 as US inflation hits 7% in December

The latest figures from the United States Bureau of labor statistics show that the (Consumer Price Index) CPI hit 7% in December.  Bitcoin (BTC) was volatile prior to the announcement, fluctuating over $2,000 from lows of $41,000 to $43,000 on Wednesday morning. Upon release of the figures, the price continued its upward climb, touching $44,000.  Prior to the announcement, Twitter was rife with speculation. According to a poll by @coinbureau, 53% of his 580,000 followers expected CPI to overshoot the consensus estimation of 7% inflation. Macroeconomic specialist and cryptocurrency soothsayer…

Owner of Russian bank Tinkoff acquires Swiss digital asset firm

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TCS Group, the owner of the major private Russian bank Tinkoff, is gaining exposure to digital assets. The firm has invested in Swiss digital asset service provider Aximetria, which is set to become the company’s first major crypto-related outfit, local news agency The Bell reported Wednesday. Citing data from Aximetria, the report suggests that TCS purchased 4,449 Aximetria shares worth 100 Swiss francs ($108) per share. Given that Aximetria’s total share capital was about 535,000 francs ($578,000), the publication reported TCS’ stake to be around 83.2%. A spokesperson for Tinkoff…

US Inflation Rate Rises to Four-Decade High of 7% in December

“The Fed sees inflation lasting till mid-2022 and that is probably when they will let the balance sheet decline,” Edward Moya, senior market analyst at The Americas OANDA said. “The path of inflation may drive quicker rate hikes and a sooner start to shrinking the balance sheet, and that could be bearish short-term for risk assets such as cryptos, but equities will likely feel more pain.” Source

US Banks Form Group to Offer USDF Stablecoin

A group of U.S. banks plans to offer its own stablecoin, called USDF, in a move to tackle concerns about the reserves behind nonbank-issued equivalents. The group – which is made up of institutions backed by the Federal Deposit Insurance Corp. (FDIC), one of the industry’s key regulators – said the coin “addresses the consumer protection and regulatory concerns of nonbank issued stablecoins,” according to an announcement Wednesday. Founding members of the USDF Consortium include Synovus (the 48th largest bank in the U.S. by assets, according to MX Technologies), New…

Hong Kong Monetary Authority aims to oversee stablecoin reserves

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Hong Kong’s central bank, the Hong Kong Monetary Authority (HKMA), wants to supervise stablecoin issuance and reserves management. HKMA published a discussion paper on Jan. 12 regarding cryptocurrencies and stablecoins, in which it provided its views on how the industry should be regulated in Hong Kong. In the 34-page long consultation document, the HKMA paid special attention to “payment-related stablecoins,” pointing out that the market capitalization of all stablecoins hit $150 billion in December, accounting for 5% of the entire crypto market. The regulator added that all existing stablecoins are “mostly…

Seba Bank raises $119M in Series C funding

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Seba Bank, a Swiss-based digital assets banking platform regulated by the Swiss Financial Market Supervisory Authority, announced on Wednesday that it had completed a successful Series C funding round of 110 million Swiss franc, or $119 million U.S. dollars. Notable investors in the round included cryptocurrency exchange FTX, quantitative digital currency trading firm Alameda Research, decentralized finance asset management firm DeFi Technologies, and venture capital entities such as Altive, Ordway Selections and Summer Capital. The bank said it plans to use the funds to fuel international growth and drive demand from…