The value of digital assets under management (AUM) for digital asset investment products in February rose to $28.3 billion, the highest number recorded since May 2022, according to Cryptocompare stats. The increase came against the background of rising U.S. Securities and Exchange Commission (SEC) enforcement actions against crypto industry players. Bitcoin and ethereum continue to
India’s recently launched in-house central bank digital currency (CBDC) — the digital rupee — is now being tested for offline functionality, revealed Ajay Kumar Choudhary, executive director of the Reserve Bank of India (RBI). The RBI — India’s central bank and regulatory body — launched the wholesale segment pilot for the digital rupee on Nov. 1, 2022,
Warren Buffett-backed Nubank, a Brazil-based neobank that debuted crypto trading options back in May 2022 on its platform, has announced the launch of nucoin, its own cryptocurrency. Part of the first batch of the currency, issued on top of Polygon’s network, will be issued to its customers as an airdrop, and for cashback purposes. Nubank
An official of India’s central bank, the Reserve Bank of India (RBI), says that the country’s central bank digital currency (CBDC) will act as an alternative to cryptocurrency. He stressed that the digital rupee must possess all the attributes of physical currency, including anonymity. India’s CBDC Update Reserve Bank of India (RBI) Executive Director Ajay
In a “base case” scenario, Galaxy Digital’s research unit has tipped the burgeoning Bitcoin nonfungible token (NFT) market to hit a $4.5 billion market cap by March 2025. Bitcoin NFTs, or Ordinals, have attracted a significant amount of attention since the Ordinals protocol launched in late January, enabling users to inscribe data such as images,
Cryptocurrency exchange Coinbase has acquired One River Digital Asset Management, an institutional digital asset manager and registered investment adviser with the Securities and Exchange Commission (SEC). This acquisition allows Coinbase “to expand institutional access to digital assets,” the crypto exchange said. Coinbase Expanding Institutional Access to Crypto Coinbase (Nasdaq: COIN) announced Friday that it has
On March 2, 2023, FTX debtors released their second stakeholder presentation, which contains a preliminary analysis of the now-defunct cryptocurrency exchange’s shortfalls. The latest presentation reveals a significant shortfall, as approximately $2.2 billion of the company’s total assets were found in FTX-related addresses, but only $694 million is considered “Category A Assets,” or liquid cryptocurrencies
United States Senator Edward Markey and Representative Jared Huffman announced on March 3 that they would reintroduce the Crypto-Asset Environmental Transparency Act in Congress. The move comes ahead of a Senate hearing on the environmental impact of crypto mining, which Markey will chair on March 7. Markey and Huffman first introduced the bill in December,
Austin Federa, head of strategy at the Solana Foundation, spoke to Cointelegraph at the ETH Denver conference on the network’s outages, the impact of regulation, and the launch of its mobile device. Speaking to Cointelegraph on March 1, Federa said the New York Department of Financial Services — NYDFS, one of the state regulators responsible
According to statistics, the number of bitcoin bridged to the Avalanche blockchain saw a significant inflow on March 2, as more than 2,000 bitcoin were bridged on that day. Data further shows that as of Friday, March 3, a total of 8,504 bitcoin worth $190.9 million was bridged over to the Avalanche network. Bitcoin Bridged
Bitcoin (BTC) is leading the cryptocurrency markets lower and the matter is being exacerbated by Silvergate Banks’ ongoing issues. This week the cryptocurrency-focused bank said that it needed additional time to file its annual 10-K report and warned that it may not be able to operate for another 12 months. Reacting to this news, several cryptocurrency
Cryptocurrency markets experienced a relatively calm month in February as the total market capitalization gained 4% in the period. However, the fear of regulatory pressure appears to be having an impact on volatility in March. Bulls will undoubtedly miss the technical pattern that has been guiding the total crypto market capitalization upward for the past
The U.S. stock market approaches a crucial turning point as uncertainty over inflation rises after hotter-than-expected economic data released in February. Despite mounting investor worries, the economy is showing signs of resilience that could protect against a significant downside move. The escalating risk-off sentiment in the market is also creating volatility for Bitcoin (BTC). The
The show Macro Markets, hosted by Marcel Pechman, which airs every Friday at 12 pm ET on the Cointelegraph Markets & Research YouTube channel, explains complex concepts in layman’s terms and focuses on the cause and effect of traditional financial events on the day-to-day crypto activity. In today’s episode, crypto analyst Pechman analyzes the United
Dogecoin dropped to its lowest level since January, as a red wave swept through cryptocurrency markets. The Silvergate bank based sell-off has impacted overall sentiment, with the global crypto market cap down 3.63% as of writing. Shiba inu also dropped, falling to a six-week low. Dogecoin (DOGE) Dogecoin (DOGE) dropped to a multi-month low on
On Feb. 24, 2023, bitcoin’s price remained above the $23,000 threshold and then rose to a peak of $23,829 per unit on March 1. On March 2 at 8 p.m. Eastern Time, the price of bitcoin fell, dropping below the $23,000 mark. This decline resulted in a significant $237.97 million worth of long liquidations on
Bitcoin (BTC) traded around $22,400 at the March 3 Wall Street open as analysts stayed divided over the odds of a recovery. Hopes for an inverse “Bart Simpson” on BTC Data from Cointelegraph Markets Pro and TradingView showed BTC/USD trading flat after a flash crash overnight saw $1,000 shaved off in minutes. As Cointelegraph reported,
ConsenSys has announced the upcoming release of its zero-knowledge Ethereum Virtual Machine (zkEVM) rollup to a public testnet on March 28, allowing for stress testing of the layer-2 scaling technology. ConsenSys’ research and development team has been working on its zkEVM rollup over the past four years. The zkEVM is touted to offer fast finality,
The realm of stablecoins is an ever-evolving landscape and the number of coins in circulation for the stablecoin BUSD has fallen below the 10 billion mark to approximately 9.68 billion on March 3, 2023. Over the last 30 days, BUSD’s token supply has dropped 40% lower. In contrast, the number of tethers in circulation has
Stablecoins are a type of cryptocurrency offering investors price stability. The most popular stablecoins are those backed by the United States dollar — the world’s leading reserve currency. Others are less popular and not widely used, so many may not have heard of alternatives if they haven’t searched for them. According to data from the