Industry news — Page: 12

Goldman Sachs is ready to get its piece of the pie, capitalizing on the fast-growing interest in blockchain and cryptocurrencies.

The fast-growing power of digital currencies headed by Bitcoin is not a surprise for the community. The international institutions understand that traditional finances cannot ignore the existence of the new class of assets. This is why experts predict the inevitability of the upcoming massive adoption of cryptocurrencies.

The popularity of cryptocurrencies grows steadily, involving more and more players. Blockchain wallets have already surpassed the mark of 75 million, showing 19% growth since the beginning of the year.

The DeFi project Aave is going to launch an Ethereum blockchain-based social network to compete with Twitter. According to the project CEO, Stani Kuleshov, Jordan Lazaro Gustav is going to head this initiative.

The Chinese government is going to reform the education sector. This industry is among the most fast-growing spheres, and officials decided to limit private educational companies. What are the upcoming changes?

The financial market is under revolutionary changes. The investment financial giants had been criticizing digital assets for a long time, and now FTX, the crypto derivatives exchange founded in 2017, is thinking about the possibility of purchasing Goldman Sachs and CME Group in the future.

Professional FX traders understand the S&P 500 and Dow Jones indexes influence the EUR/USD trading pair, and the correlation is strong and dynamic. When the US equity market is on the rise, traders expect more US dollars invested in the sector. This said, such inflows increase the US dollar rates. When the market decline is observed, USD is losing momentum.

For a long time, cryptocurrencies have been out of the law, and skeptics were sure digital assets are just the next financial bubbles. 12 years later crypto assets turned the opinions upside down, proving that the new class of assets contains enough power to revolutionize the traditional economy. As such, the officials are going step-by-step to join the trend.

Brazil stands to be among the most progressive Latin American countries, as the local Securities and Exchange Commission (CVM) allowed QR Asset Management to run the first Ethereum-based ETF fund in the continent.

The world-known fashion brand Dolce and Gabbana joins the fast-growing trend, non-fungible tokens. The brand is going to issue an NFT collection in partnership with UNXD, a luxury marketplace.

The Ethereum network is rapidly moving towards the 2.0 version. The upgrading train has already passed by the ‘Berlin’ station with a Gas price decrease and new transaction type. The next stop is ‘London’ where the Ethereum network is going to implement the long-awaited EIP-1559 upgrade.

According to past opinions on the crypto market, mass adoption of digital currencies has been fiercely dependent on the interest of institutional investors. The year 2020 made crypto enthusiasts’ dreams come true, as major players then entered the market.

Binance, the world's largest crypto exchange, faces a string of hurdles related to payments and legal issues.

Bitcoin and Ethereum are two eternal crypto competitors, claiming the throne of the market. Ethereum has got used to being the runner-up but has exceptionally high potential for further development. Goldman Sachs, one of the world’s largest investment banks, predicts that ‘digital oil’ may even overrun Bitcoin.