Kraken Cryptocurrency Exchange Adds Support For the Swiss Franc

San Francisco-based cryptocurrency exchange Kraken is adding support for its latest fiat asset, the Swiss franc (CHF). According to a blog post on Dec. 5, Kraken said that in collaboration with Liechtenstein-based Bank Frick, the Swiss franc will join the roster of fiat currencies that Kraken already supports, namely the United States dollar (USD), the Canadian dollar (CAD), the euro (EUR), the British pound sterling (GBP), and the Japanese yen (JPY). The Kraken team further revealed that CHF trading begins on Friday, Dec. 6, and that it will roll out trading…

Crypto to Replace Fiat Currencies by 2030

By 2030, the demand for alternative currencies will rise, with digital currencies eventually replacing cash, according to recent research from Deutsche Bank. In the “Imagine 2030” report, Deutsche Bank strategist Jim Reid raised awareness of the challenges the existing fiat system has encountered in recent years, specifically with the emergence of cryptocurrencies. Reid stipulated that people’s heightened demand for dematerialized means of payment and anonymity could drive more individuals to digital currencies. Mainstream adoption and co-occurring challenges In order to gain wider acceptance, digital assets need to overcome three major…

CryptoBridge Closes Down and Waves Relaunches, DEXs Face Tough Times

Earlier this week, decentralized cryptocurrency exchange CryptoBridge abruptly announced that it was shutting shop, leaving just two weeks for its customers to retrieve their funds. Around the same time, the Waves DEX also shut down to resume operations as a hybrid exchange. While Waves ostensibly decided to “merge all the infrastructure teams” together and focus on one product, CryptoBridge went out of business completely. The decentralized platform cited market conditions and increased regulations as driving factors for its closure. So, should other crypto trading platforms, decentralized or not, be worried?  …

BitFlyer’s New ‘Instant Buy’ Feature Lets Users Buy Crypto With Cards or Transfers

Tokyo-based cryptocurrency exchange bitFlyer announced the launch of ‘Instant Buy’ on its European exchange platform. BitFlyer launched its latest feature Instant Buy on Dec. 5 to provide its European users with the ability to buy cryptocurrency using a credit card, debit card and local instant transfer methods like Sofort, iDeal and GiroPay.  The newly launched feature, which is available on desktop computers and smartphones, aims to make it more convenient for users to buy crypto using their preferred payment method. It also looks to provide a new avenue for crypto…

Known Crypto-Hater Sherman to Chair Congressional Subcommittee on Investor Protection

The anti-crypto United States Congressman Brad Sherman (D-CA) has been elected to serve as Chairman of the Subcommittee on Investor Protection, Entrepreneurship and Capital Markets. On Dec. 5, Chairwoman of the House Financial Services Committee Maxine Waters (D-CA) announced that Sherman was elected to take up the position of Chair at the subcommittee that oversees the Securities and Exchange Commission (SEC), the New York Stock Exchange and the Financial Industry Regulatory Authority. Sherman vs crypto and maybe the internet Sherman, who is an American politician serving as a Democratic member…

EU Won’t Let Stablecoins Enter Market Until Risks Are Addressed

No global stablecoin project will begin operation in the European Union (EU) until the associated risks to monetary sovereignty are addressed, according to EU authorities. In a joint statement adopted by the Council of the European Union and the European Commission (EC), the Council and the Commission admitted that stablecoins may be effective at providing cheap and fast payments, but they have far more risks and challenges. The statement was approved by the Economic and Financial Affairs Council (ECOFIN), one of the oldest configurations of the Council, on Dec. 5,…

Crypto Market Flips Green — But Is Bitcoin Ready to Retest $8,000?

On Dec. 4, Bitcoin (BTC) unexpectedly rallied hard from $7,080 and over the next 5 hours the digital asset had moved 9.92% to trade for $7,788. The strong surge briefly broke the pattern of lower highs lower lows. But by the end of the day, the price had retraced back to $7,100.  Crypto market weekly performance. Source: Coin360 Bitcoin price slowed down as it met resistance at $7,800 and was unable to set a higher high above $8,000. Traders will note the high volume nodes of the volume profile visible…

Crypto Cybersecurity Firm Ledger Hires In-House Security Officer As New CTO

Hardware wallet manufacturer Ledger has hired Charles Guillemet as chief technology officer (CTO) where he will oversee the company’s security operations. In a press release shared with Cointelegraph on Dec. 5, Ledger said that Guillemet has been in charge of the company's security assessments for Ledger’s products ever since he started working at the firm in 2017. Guillemet also founded the company’s security department and evaluation lab, has assessed the security of competitor devices, and has disclosed vulnerabilities that contributed to the security throughout the blockchain ecosystem. Guillemet commented on…

Bitcoin Recovers from Below $7.2K After Schiff Says ‘Game Is Over’

Thursday, Dec. 5 — cryptocurrency markets have continued to trade sideways, with 18 of the top 20 coins by market cap seeing notable losses at press time. After Bitcoin (BTC) attempted another recovery yesterday to break above $7,500, the biggest cryptocurrency has dipped below the $7,200 threshold again today. Among the few coins that report some green at the time of this writing, Unus Sed Leo (LEO) is seeing the biggest growth, up 0.4%. In contrast, Algorand (ALGO), is seeing the biggest losses among the top 20, down more than…

Pomp Joins Figure’s Board as Firm Completes $103M Funding Round

California-based fintech company Figure Technologies has completed its $103 million funding round led by cryptocurrency asset manager Morgan Creek Digital. In conjunction with closing the Series C round, the blockchain-focused firm announced that Morgan Creek co-founder Anthony Pompliano had joined Figure’s board, according to a press release on Dec. 5. The news comes three days after Figure secured $58 million of the planned $103 million, according to its filing with the United States Securities and Exchange Commission. According to the new announcement, Figure Technologies’ total funding now exceeds $225 million,…