Day: June 22, 2023

The Emergence of Cryptocurrency-Backed Loans and Lending Platforms

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Because of their potential for large profits and decentralized nature, cryptocurrencies have attracted the attention of investors and enthusiasts all around the world. As the bitcoin ecosystem evolves, new financial services and platforms to harness these digital assets emerge. Cryptocurrency-backed loans and lending platforms are one example of such innovation. In this article, we will look at the rise of cryptocurrency-backed loans and lending platforms, the benefits they provide, and the ramifications for borrowing and lending in the future. Bitcoin-backed loans are a sort of loan in which individuals can…

Bitcoin holds $30K as bulls flaunt their advantage in Friday’s $715M BTC options expiry

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Bitcoin’s (BTC) 15% rally toward $30,300 between June 19 and June 21 caught most traders by surprise, triggering $125 million in liquidations of leveraged short futures contracts. Narrowing down the trigger for the rally is complicated, but some analysts point to the potential inflow of institutional investors if Blackrock’s exchange-traded fund (ETF) application gets regulatory approval. BlackRock just filed with the SEC to create a spot #Bitcoin ETF. Given their reputation, this has the highest likelihood of happening out of all the attempts at a spot ETF so far. The…

Bitcoin BTC Price Bobbles, Then Returns to Perch Above $30.1K as Investors Weigh ETF Prospects, Macroeconomic Data

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Ether (ETH), the second largest crypto in market value, followed a similar path to BTC, dipping around the time of the BitGo announcement via Twitter but then regaining ground to recently change hands near the $1,900 threshold it reached on Wednesday for the first time since the beginning of June. ETH was recently up a few fractions of a percentage point. Most other major cryptos were largely in the green, albeit not as impressively as the previous day. ADA and DOT, the tokens of smart contract protocols Cardano and Polkadot,…

Issuing digital euro, or ‘Cash+,’ is probably a duty, French central banker says

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The digital euro holds something in store for every stakeholder, Governor of the Banque de France François Villeroy de Galhau told commercial bankers on June 22. Disintermediation is not in the works, he said at the Global Official Institutions Conference hosted by French multinational bank BNP Paribas. Before addressing the euro central bank digital currency (CBDC), Villeroy de Galhau began with an explanation of why the banking crisis earlier this year did not affect the eurozone. He credited European regulation and supervision for keeping its banking system safe. He noted,…

It’s Game On for Web3: How Gaming Will Onboard a Billion People

While other industries like entertainment and loyalty programs have the potential to onboard millions of new users into Web3, gaming provides fertile ground for the seeds of mass adoption. Gamers are already familiar with virtual currency and understand how to buy and earn in-game assets. And while there are nearly 8 billion people in the world, over 3 billion of us play video games pointing to a considerable amount of the population primed for a gamified digital future. Source

How Entertainment and Visual Media is Tackling Mass Adoption

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Bitcoin breaks $30,000 and is the center of attention again!

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In this week’s episode of Market Talks, Cointelegraph welcomes Mati Greenspan, founder and CEO of Quantum Economics. Greenspan is an experienced financial analyst and a certified consultant who enjoys engaging with his 50,000+ Twitter followers about the latest developments in the cryptocurrency sector. He finds his passion in understanding financial markets and sharing his knowledge with others to help them make better investment decisions. In today’s discussion, we first find out what Greenspan has been up to since we last had him on the channel — more than five years ago.…

Knowing Who Counterparties Are Is Key to Engaging Institutions in DeFi

NEW YORK – Developing digital identity infrastructure such that counterparties know who they are trading with is critical to getting large institutions involved in decentralized finance (DeFi), said Joseph Chalom, head of strategic partnerships at BlackRock, at the State of Crypto Summit held by Coinbase and the Financial Times in New York on Thursday. Source

TrueUSD assures users it has no exposure to troubled Prime Trust

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On June 22,  TrueUSD announced on Twitter that its TUSD stablecoin had “no exposure” to the troubled Prime Trust, which is reportedly facing regulatory challenges.  Following an order from state financial regulators, the Nevada-based Prime Trust reportedly abruptly halted all fiat and cryptocurrency deposits and withdrawals. Numerous clients now find themselves in a predicament, with their funds effectively stranded due to the sudden disruption. In light of the recent news, TrueUSD promptly announced that “it is not affected by the situation” at Prime Trust. TrueUSD emphasized that it had diversified its partnerships and…