Month: January 2022

FDIC-Backed Banks Send Stablecoins in USDF First

NBH Bank and New York Community Bank have conducted the first USDF transaction over the Provenance Blockchain. NBH Bank minted the newly-introduced stablecoin and sent it to a customer of New York Community Bank as part of a test run. USDF is a stablecoin offered by the USDF Consortium, a group of FDIC-backed banks which announced its formation last week. “We expect our membership to increase rapidly through 2022 as member banks demonstrate that USDF is a valuable, compliant component of their digital asset strategy,” said USDF Consortium chair, Ashley…

New $75M DeFi Fund Signals Big Investment in Blockchain

Decentral Park Capital, an early-stage investment firm, now with $140 million in assets under management, has launched a brand new $75 million fund to invest in DeFi initiatives. This fund aims to deploy funds to invest in decentralized exchanges, lending protocols, derivatives, structured products, oracles, staking, and middleware infrastructure. The money pouring into decentralized finance and blockchain tools is huge, with hundreds of millions being committed by sophisticated “big money” investors. John Quinn, the firm’s founder, said that returning investors for the fund were mostly family offices, which are private…

Bitcoin Holding Support Above $40K; Faces Resistance at $43K-$45K

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Bitcoin (BTC) continues to hold support above $40,000 as momentum improves on intraday charts. The cryptocurrency is down about 4% over the past week, although multiple oversold readings suggest buyers could remain active into the Asia trading day. As of press time Wednesday, bitcoin was changing hands at $41,822. Still, upside appears to be limited toward the $43,000-$45,000 resistance zone. And $48,000 could present another hurdle for buyers given the series of lower price highs since November. The relative strength index (RSI) on the four-hour chart approached an oversold level…

Central banks generate trust, not big techs or “anonymous ledgers”

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In a speech entitled “Digital currencies and the soul of money,” Agustín Carstens, the general manager of the Bank of International Settlements, criticized private stablecoins and decentralized finance (DeFi), touting central bank-led financial innovation as the best possible path to the future of money. Carstens, who served as governor of the Bank of Mexico between 2010 and 2017, delivered his remarks at the conference on “Data, Digitalization, the New Finance and Central Bank Digital Currencies: The Future of Banking and Money” at the Goethe University in Frankfurt. The economist’s argument…

Meta Leans In to Tracking Your Emotions in the Metaverse

“These patent applications indicate that Meta has not learned its lesson, having been accused previously of storing users’ biometric data without permission,” Emma Taylor, a technology analyst at GlobalData, responded to the report in a statement. “It is likely that the same issues surrounding data privacy from existing social media platforms will be extended, or even exacerbated, in the metaverse.” Source

How Bitcoin Is Controlling The Ebb And Flow Of Crypto

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Latest data shows that so far in the year 2022, the rest of the crypto market has been moving in tandem with Bitcoin. Crypto Indexes Follow Bitcoin In January So Far As per the latest weekly report from Arcane Research, all the various indexes in the crypto market have mimicked BTC’s movements so far in the month of January. The “crypto indexes” here refer to groups of cryptocurrencies separated into these divisions on the basis of market cap. There are three main indexes, the “large cap index,” the “mid cap…

Tom Brady’s NFT Platform Autograph Raises $170M

Autograph, a non-fungible token (NFT) platform co-founded by National Football League star Tom Brady, has closed a $170 million Series B funding round that was co-led by Andreessen Horowitz (a16z) and Kleiner Perkins. Other participants in the round included Nicole Quinn, a general partner at Lightspeed Venture Partners, and the new venture firm from a16z alum Katie Haun. As part of the investment, Haun, a16z general partners Arianna Simpson and Chris Dixon and Kleiner Perkins partner Ilya Fushman will join the Autograph board of directors. Founded in July, Autograph has…

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