Bank of America: Crypto investors are switching to stablecoins, expecting the continuation of the crisis in the market

Cryptocurrency NewsBy 02/09/2022

Bank of America experts recorded a more cautious behavior of crypto investors due to uncertainty with market trends. According to Bank of America (BofA), crypto investors are increasingly choosing to work with stablecoins pegged to the US dollar or gold, as the volatility of digital assets is still too high, and the end of the crisis in the cryptocurrency market is not yet in sight. Also, experts say, investors are worried about the prospect of…

JPMorgan strategist advises investors to sell cryptocurrencies and buy stocks

Cryptocurrency NewsBy 01/09/2022

David Kelly, global strategist at one of the largest investment banks JPMorgan, believes that until the US Federal Reserve develops a plan to overcome the economic crisis, investors should play it safe. David Kelly gave some advice to those who are concerned about the aggressive behavior of the Fed and the ongoing crisis in the cryptocurrency markets. According to him, now investors should focus on defense and assessment of their actions, and not on short-term…

Crypto.com accidentally transferred $10.5 million instead of $100 to a Melbourne resident

Cryptocurrency NewsBy 31/08/2022

One of the most popular crypto platforms in Australia, Crypto.com, accidentally transferred 105,000 more funds to the client than it was obliged to – the error was found after seven months. The error occurred in May 2021 when the company tried to refund Ms. Thevamanogari Manivel $100. Instead, the operations worker entered the account number instead of the transfer fee and sent the client $10.5 million. The Crypto.com exchange did not go to the Supreme…

F-1 enters the NFT market to promote car racing

Cryptocurrency NewsBy 30/08/2022

On the eve of the Las Vegas Grand Prix, Liberty Media filed an application with the US Patent Office for the acquisition of trademarks based on collectible tokens. U.S. Patent and Trademark Office Licensed Trademark Attorney Mike Kondoudis revealed that the Formula 1 racing series owner has applied for two NFT and cryptocurrency-related trademarks for the Las Vegas Grand Prix, scheduled for November 2023. According to Kondudis, Formula 1 intends to offer virtual merchandise, including…

John Woo: Large holders of stablecoins are ready to enter the crypto market

Cryptocurrency NewsBy 29/08/2022

The head of the Avalanche platform believes that despite the fall in the cryptocurrency market due to the correlation with stock assets, crypto investors expect “cosmic profits”. Avalanche (AVAX) CEO John Wu said in an interview that large investors continue to look at the cryptocurrency market. We are talking about institutional investors who own stablecoins. Wu added that the fundamentals of the crypto industry are solidifying despite the sharp decline in market capitalization last year.…

Governor of the Central Bank of Finland Olli Rehn supported the introduction of the digital euro

Cryptocurrency NewsBy 26/08/2022

The Governor of the Bank of Finland, Olli Rehn, believes that the digital euro, along with the use of private financial technologies, can facilitate cross-border payments in Europe. Speaking at the University of California, the governor of the Central Bank of Finland, Olli Rehn, spoke out in favor of state digital currencies. In his opinion, privately developed cryptocurrencies are very unstable due to the lack of pegging to fiat currencies or precious metals. As for…

Chinese metropolitan city begins paying digital yuan for metro services

Cryptocurrency NewsBy 25/08/2022

The metro operator of the Chinese city of Ningbo in the northeastern Chinese province of Zhejiang, as part of the popularization of the state digital currency, offered passengers a bonus for paying for a trip in e-CNY. Ningbo Rail Transit said all 125 stations operated by the operator will accept the digital yuan as payment for transportation services. The company announced that 9.5 million citizens and visitors can now pay for metro services through the…

The Australian regulator warned about the risks of investing in crypto assets

Cryptocurrency NewsBy 24/08/2022

The chairman of the Australian Securities and Investment Commission called cryptocurrencies extremely volatile assets with a high level of risk. Following a recent statement from the Australian Department of the Treasury about strengthening oversight of cryptocurrencies, the head of ASIC, Joseph Longo, noted that one of the key tasks of the regulator is to warn the public about the risks associated with crypto assets. According to him, the popularity of cryptocurrencies among young people has…

Galaxy Digital called for the protection of digital property rights in the metaverse

Cryptocurrency NewsBy 23/08/2022

Investment firm Galaxy Digital, after reviewing metaverse policies in the market, said that no company creating virtual worlds guarantees the protection of game property rights. Galaxy Digital posted a report expressing concern that the metaverse could not become truly decentralized unless action was taken to protect users’ digital property rights. The authors of the report noted that if digital property in the metaverse were owned by companies and not by users, then it would be…

US authorities are studying the impact of four mining companies on the environment

Cryptocurrency NewsBy 22/08/2022

Amid the global crackdown on PoW cryptocurrency mining, the U.S. House of Representatives Committee on Energy and Commerce is looking into the energy and climate impacts of four major mining companies. As part of its oversight of the environmental and energy impact of blockchain, the agency sent letters to mining companies Core Scientific, Marathon Digital Holdings, Riot Blockchain, and Stronghold Digital Mining. The committee is asking what actions companies are taking to mitigate the environmental…

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