Industry news — Page: 8

Elon Musk, the CEO of Tesla and SpaceX, expressed his disapproval of the metaverse and Web 3.0 ecosystems, dismissing them as marketing gimmicks.

Binance Labs, the venture capital and incubation arm of Binance cryptocurrency exchange, has led a financing round for the cross-chain protocol Multichain, previously known as AnySwap.

Kraken, a major cryptocurrency exchange, has announced the acquisition of Staked, a blockchain infrastructure, and investment management firm, for an unknown sum.

According to a new CNBC study, the majority of millennial millionaires have invested a large portion of their wealth in cryptocurrency and want to continue doing so in 2022. The study questioned investors with $1 million or more in assets, and 83 percent of the millennial millionaires asked said they had made cryptocurrency investments.

JPMorgan Chase has agreed to pay a punishment of $200 million after admitting that staff used personal phones, emails, and text messages to do official business. This was against the Securities and Exchange Commission's and the Commodity Futures Trading Commission's record-keeping guidelines.

A consortium of German savings banks stated on Monday that they are looking into creating a wallet to trade cryptocurrencies. Germany's savings banks are a conservative stronghold that stores more than 1 trillion euros for frugal Germans.

According to individuals familiar with the situation, Chinese artificial intelligence firm SenseTime Group Inc. has acquired around $500 million in cornerstone funding ahead of its anticipated Hong Kong IPO.

The Securities and Exchange Commission (SEC) recommended tightening a legal safe-harbor that permits corporate insiders to trade in a company's shares, as well as other measures to make money market funds more resilient.

Giving Block co-founder Pat Duffy said the service streamlines the platform's existing donation process, allowing "high-value donors to quickly and securely give large gifts to their favorite charities while reducing their tax bill."

Elon Musk, the CEO of Tesla, feels that Bitcoin isn't as suitable for everyday payments as Dogecoin, a meme-based cryptocurrency.

Decentralized oracle service Umbrella Network has announced a new accelerator program for startups that want to construct data pipelines to the cryptocurrency market, a process that many in the industry feel is required to expand the growing areas of blockchain gaming, decentralized finance (DeFi), and the Metaverse.

The shadow government of Myanmar, the National Unity Government (NUG), which is run by followers of imprisoned leader Aung San Suu Kyi, has designated Tether (USDT) as an official currency for local use.

According to a report by Finance Forward, Sparkasse, a German savings bank, is developing a bitcoin trading platform for its 50 million clients. The municipal institution is working on a service that would allow customers to purchase and sell BTC next year.

The Indian government came to the more crypto-friendly decision while talking about the regulation of digital assets within a country.

Exchange-traded funds based on Bitcoin and other digital currencies are not a new word in the sector; meanwhile, Defiance, an investment and fintech company, has launched an ETF pegged to non-fungible tokens.

According to British media, UK crypto traders should be ready to face higher fees and commissions yet-to-be-introduced by the British-based trading platforms. The changes are explained by updated taxes.

The Salvadoran Bitcoin fund is not the only organization using “Black Friday” to purchase more Bitcoins. Microstrategy acquired more BTC as well. Michael Saylor, Microstrategy CEO, announced that the provider of analytical software has purchased 7 002 BTC.

The Tourism Authority of Thailand is going to schedule a set of panel discussions with the local Securities and Exchange Commission. The authority is about to issue a utility token claimed for the crypto tourism development. The token is going to be called TAT Coin from the authority’s abbreviation.

In October the crypto community witnessed the unbelievable growth of Shiba Inu when the token skyrocketed by 11830% within 28 days, making holders happier.

The world-known investment corporation Grayscale announced the launch of a new trust pegged to Solana.

El Salvador keeps things clear when it refers to Bitcoin – the country is going to continue paving the crypto path, as the government understands digital currencies led by Bitcoin protective assets to reach financial stability.

The US banking giant, Morgan Stanley, keeps paving its crypto-friendly path. The corporation invested more in shares of Grayscale, one of the largest crypto investment companies. The total investment volume reached $306 million – Morgan Stanley is now a holder of more than 6.6 million shares.

The Grayscale report discloses that the Metaverse has attracted 10 times more users within 18 months. The report compared data from June 2021 and the beginning of 2020. The investment corporation stated that the Metaverse is a space able to reach the overall market capitalization of $1 trillion in the near future.

According to Glassnode analysts, Bitcoin holders have reduced their spending since October, and the chart displays they are more likely to open new positions than quit the market. Bitcoin spent volumes varied from 2.5% to 12% within the last 15 months; meanwhile, in October the spending volume has fallen below 2.5%.