Month: July 2022

Charles Schwab’s asset management arm launches crypto-linked ETF

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Schwab Asset Management, the asset management arm of financial giant Charles Schwab, has launched an exchange-traded fund (ETF) with exposure to firms linked to cryptocurrencies.  In a Friday announcement, Schwab said its Crypto Thematic ETF was expected to be available for trading on the New York Stock Exchange’s Arca under the ticker STCE on Aug. 4. The fund tracks Schwab’s Crypto Thematic Index, providing an investment vehicle with exposure to companies “that may benefit from the development or utilization of cryptocurrencies and other digital assets.” Likely because the United States…

Crypto contagion deters investors in near term, but fundamentals stay strong

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The past six-odd months have been nothing short of a financial soap opera for the cryptocurrency market, with more drama seemingly unfolding every other day. To this point, since the start of May, a growing number of major crypto entities have been tumbling like dominoes, with the trend likely to continue in the near term. The contagion, for the lack of a better word, was sparked by the collapse of the Terra ecosystem back in May, wherein the project’s associated digital currencies became worthless almost overnight. Following the event, crypto…

KuCoin Claims Bragging Rights as First Exchange to Offer NFT ETFs

The ERC-20 tokens contained within KuCoin’s NFT funds represent 1/1,000,000 ownership of the BAYC collection, for example, denoted by a hiBAYC token. To start, KuCoin’s “NFT ETF Trading Zone” will first list 5 NFT ETFs covering hiBAYC, hiPUNKS, hiSAND33, hiKODA, and hiENS4 as underlying assets as a beginning, the company said in a press release. Source

Ethereum Barrels Past $1,700 – Next Target: $2,000

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Ethereum (ETH) price overshoots above $1,700 hinting a bullish momentum. And everyone was blown away. James Seyffart, Bloomberg Intelligence research analyst, was impressed: “Ethereum just flew right through resistance there.”  Bitcoin, Ethereum, and other cryptocurrencies have soared following the Fed interest rate hike of 0.75%. It was indeed an optimistic kind of domino effect for the crypto space. Can ETH Stay Above $1,700? Now, that ETH was able to do the inconceivable, all that’s left for ETH to do is to maintain that momentum and do everything in its power…

Fed Board, FDIC Order Voyager Digital to Retract Federal Deposit Insurance Claims – Regulation Bitcoin News

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Following Voyager Digital’s application for bankruptcy protection during the first week of July, Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve Board today issued a joint letter to the company demanding a cease and desist against Voyager’s FDIC claims. The FDIC’s letter explains that Voyager’s FDIC claims are false and misleading, and the entity prohibits anyone from “representing or implying that an uninsured deposit is insured.” FDIC Insists Voyager Digital Published Misleading and False Federal Deposit Claims On July 28, 2022, the Federal Reserve Board and FDIC issued a…

Blockchain technology can help create safe and inclusive adult platforms

The cryptocurrency market is no stranger to speculation. Consider that despite this industry’s growth, many continue to view these assets and associated technologies as a bubble that is about to burst.  As history has proven, overcoming the technology adoption curve comes down to a major use case, or the so-called “killer app.” Although there is no clear frontrunner, the adult entertainment industry has proven to significantly advance new technology iterations in the past and presents an interesting proposition for the future of cryptocurrencies.  The adult entertainment industry is believed to…

Ethereum chain split is possible after the Merge, survey finds — But will ETC price keep climbing?

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Ethereum’s proof-of-work (PoW) powered by GPUs generated approximately $19 billion in revenue last year for ETH miners. But these revenue streams are in danger as Ethereum is expected to become a proof-of-stake (PoS) blockchain via “the Merge” upgrade in September. Miners could then revolt against the new upgrade by continuing to mine on the old Ethereum PoW after the hard fork chain split.  A survey from crypto hedge fund Galois Capital recently revealed that 33.1% of respondents believe that the Merge would create two parallel blockchains: ETH1 (PoW) and ETH2 (PoS). Question 1:…