Month: February 2022

Deutsche Bank Initiates Coverage of Metaverse Play Matterport, Sees Near 50% Upside

Deutsche Bank initiated coverage of metaverse play Matterport with a buy rating, calling the company a leader in the digitization of the built world. The bank’s analysts led by Bhavin Shah started coverage on Tuesday with a price target of $14, implying a 46% upside from the recent close. Matterport’s technology platform enables customers to create a digital twin of any space or building with relative ease, and this should drive impressive growth over the foreseeable future, the note said. Strong mindshare, a robust capture services network and a freemium…

Grayscale Launches First Equity ETF Tracking New Joint Index With Bloomberg

The BGFOF index was launched in January in conjunction between the two firms and tracks the performance of 22 financial services companies in the digital economy. The list of companies includes Silvergate Capital (SI), PayPal (PYPL), Coinbase Global (COIN), Block (SQ), Robinhood Markets (HOOD), Argo Blockchain PLC (ARB) and more. The index, which can include payments, exchange, asset management, hardware, blockchain/tech and mining companies, is rebalanced every quarter. Source

All the world’s Bitcoin can only pay 2.43% of $30T US national debt

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The United States’ national debt has passed $30 trillion — and even all the Bitcoin (BTC) in the world would hardly touch it. According to the latest official statistics, U.S. national debt is at levels never seen before, passing the psychological $30-trillion barrier for the first time this week. Bitcoin is worth less than 3% of U.S. national debt After two years of liquidity injections fuelled by issuing even more debt, the Federal Reserve is attempting to rein in what has become a practically incomprehensibly large debt burden. $30 trillion…

YOU ARE BEING LIED TO ABOUT CRYPTOCURRENCY IN 2022! (DO NOT BE FOOLED)

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Blockchain Among Technologies to Be Prioritized by Saudi Arabia’s IT Decision Makers in 2022 – Technology Bitcoin News

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Blockchain is among six emerging technologies that will be prioritized by the Kingdom of Saudi Arabia (KSA)’s IT decision makers in 2022 and beyond, according to a recent study. Effect of Covid-19 The government of Saudi Arabia’s IT decision makers have named blockchain as one of the six technologies they plan to prioritize in 2022 and beyond, a survey study has found. In addition, the study found that an overwhelming majority of the decision makers agreed that Covid-19 has accelerated Saudi Arabia’s digital transformation. According to a Datatechvibe report, which…

Just-In-Time Liquidity: How MEV Can Enhance DeFi on Ethereum

What is MEV? Behind the scenes of most major blockchains, shadowy super-coders and the bots they build are using the transparency of blockchains and the transaction fee market to their advantage. By watching a database of all pending and unconfirmed transactions called the mempool, the bots are able to pay higher transaction fees to slip in their own transaction in an order that is profitable, often at the expense of decentralized finance (DeFi) users. This article originally appeared in Valid Points, CoinDesk’s weekly newsletter breaking down Ethereum 2.0 and its…

Crypto tax doesn’t legalize trading, says Indian tax department chief

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The head of the Central Board of Direct Taxes (CBDT) in India said the recent announcement of a 30% tax on crypto holdings doesn’t necessarily make the crypto trade legal in India. The finance minister of India announced a 30% tax on crypto holdings during the budget session on Feb. 1, triggering several headlines on the lines of “India legalizes crypto” However, CBDT chief JB Mohapatra aimed to debunk these misconceptions. Mohaptra in a post-budget presser said that the new crypto tax would help the income tax department measure the…

South African Regulator Issues Warning on FTX, Bybit

South Africa’s financial watchdog issued a notice warning consumers to be “cautious and vigilant” when dealing with crypto exchanges FTX and Bybit. The Financial Sector Conduct Authority said Tuesday that FTX is not authorized to trade in contracts for difference (CFDs), which are instruments that allow traders to speculate on the short-term movement of an asset’s price. “It has come to the attention of the FSCA that FTX might be offering the South African public, access to its online platform to trade in amongst others, derivatives instruments,” the FSCA said.…

Why did WazirX token (WRX) jump 30% after India announced its big crypto tax?

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WazirX exchange’s native token, WRX, benefited the most from India’s latest U-turn on crypto this week. WRX’s price jumps on India tax news WRX’s price surged nearly 30% to over $1, hitting a three-week high after the Indian government had announced a new tax regime for the regional crypto sector, reversing entirely from its earlier strict stance that even contemplated an outright ban on the emerging industry. $WRX – Up on news! https://t.co/Ln504eUZzm pic.twitter.com/zN3pW84DPY — Yo! Crypto ₿ (@YoCrypto) February 1, 2022 In her budget speech on Tuesday, Finance Minister Nirmala Sitharaman said…

Alphabet exploring blockchain technology for flagship services

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Google has started researching blockchain and how it may benefit Web 3.0 technology. According to a Tuesday statement from Sundar Pichai, the CEO of Alphabet — Google’s parent company — the company is exploring integrating blockchain technologies into its flagship products and services. When asked how the firm views Web3, Pichai said there are several “areas of interest” for Alphabet, hinting at augmented reality and exploring how blockchain technology may be utilized to power computing and service layers like YouTube and Google Maps. He said: “Any time there is innovation,…