Digital Asset Insights #33

Ukraine Adopts New Law To Legalize Bitcoin And Other Cryptocurrencies Ukraine is the latest to join the growing list of countries that have legalized crypto. Seems as times go by, more governments are acknowledging the staying power of cryptocurrencies such as Bitcoin. El Salvador became the first country to adopt Bitcoin as legal tender earlier…

Read More

Digital Asset Insights #32

7 out of 10 Salvadorans want to repeal the new Bitcoin (BTC) law Seven out of every ten Salvadoran citizens want their political representatives to repeal the newly instated Bitcoin law because they do not believe Bitcoin will solve the country’s financial problems. This is a finding of the latest survey from the University Institute…

Read More

Digital Asset Insights #31

Bitcoin ‘whale’ behaviour that preceded April’s $64,000 high is back So, just what are Bitcoin whales doing lately? These holders of huge quantities of Bitcoin (BTC) are continuing to buy the asset even as the crypto markets saw a recent dip, data from several sources shows. Most analysts believe it is just such investment behavior that precedes…

Read More

Digital Asset Insights #30

Emerging markets like Nigeria, Kenya led 880% global crypto growth in 2021 A recently published report by on-chain research firm Chainalysis was prepared as an effort to measure grassroots cryptocurrency adoption amid the enormous growth seen in the crypto market over the year due to traction from industries. It has revealed a surge of over 880% in…

Read More

Digital Asset Insights #29

Total crypto market cap back above $2 trillion, FUD now a distant memory The total crypto market cap edged above $2 trillion early last week, making a 12-week high as the market leader, Bitcoin, targeted $50,000, which is a level not seen since FUD ramped up just as the summer season got underway. Many were filled with…

Read More

Digital Asset Insights #28

US senator says proposed crypto laws are a ‘huge mistake’ United States Senator Mike Lee of Utah has raised concerns that the crypto tax provision in the $1.2 trillion infrastructure bill will send more citizens below the poverty benchmark line. Warning that passing the legislation, which he feels is unproven, would stifle innovation in the country, while…

Read More

Digital Asset Insights #27

Dogecoin (Doge), Bitcoin (BTC) recover after brief early Monday, August 2nd sell off Bitcoin and Dogecoin lost over 5% each last Sunday night after a brief sell-off in the crypto markets. Although they had regained most of the losses by Monday morning of last week, futures traders were left nursing millions of dollars in losses. BTC had lost…

Read More

Digital Asset Insights #26

US FEDS WANT TO TAME ‘WILDCAT’ STABLECOINS LIKE TETHER AND USDC A professor of finance at Yale, Gary Gorton, and US Federal Reserve attorney Jeffery Zhang penned a research paper entitled “Taming Wildcat Stablecoins,” which was published in the Social Science Research Network (SSRN). The paper strongly urges supervision of Stablecoins. They argued that introducing a central bank…

Read More

Digital Asset Insights #25

Diamond auctioned for $12 million worth of crypto at Sotheby’s The famous auction house, Sotheby, announced early last week that it had sold a diamond worth $12 million, and its buyer paid in an unspecified cryptocurrency. The diamond is the second-largest pear-shaped diamond, tagged Key 101.38, to be sold in public, according to the firm. The auction…

Read More

Digital Asset Insights #24

ETH bumps ahead of Ethereum ‘London’ upgrade. But what’s it about? Ethereum touched just shy $2.4k early last week, making a two-week high, closing three consecutive daily green candles against Bitcoin, and taking ETHBTC to 0.066782 at the time of writing. Some analysts attribute this strength to the up-and-coming London upgrade wherein the Rinkeby testnet…

Read More

Digital Asset Insights #23

“Get more Bitcoin,” says Rich Dad author warning of ‘Biggest Crash in History’ American businessman and best-selling author Robert Kiyosaki says a global crash of epic proportions is coming. “The best time to prepare for a crash is before the crash. The biggest crash in world history is coming. The good news is the best…

Read More

Digital Asset Insights #22

MicroStrategy buys 13,005 more Bitcoin, now holds 105,000 BTC CEO Michael Saylor of the business analytics firm MicroStrategy said in a tweet in the beginning of last week that his company has acquired 13,005 more Bitcoin (BTC). The firm now holds over 105,000 Bitcoin in total. Saylor tweeted, “MicroStrategy has purchased an additional 13,005 bitcoins for ~$489…

Read More

Digital Asset Insights #21

Tanzania’s president is now calling for Bitcoin and crypto adoption As per local newspaper The Citizen, Tanzania’s President Samia Sulhulu has asked the country’s Central Bank to start exploring the crypto sector, in what appears to be the latest move by a sovereign country to embrace cryptocurrency. The announcement by the President was made on June 14th, wherein…

Read More

Digital Asset Insights #20

El Salvador set to become first country to adopt bitcoin as legal tender “Next week, I will send to Congress a bill that will make Bitcoin a legal tender,” said El Salvador’s President, Nayib Bukele, while speaking during a video broadcast at the Bitcoin 2021 conference held in Miami early last week. The President also…

Read More

Digital Asset Insights #19

Reserve bank of India slams banks after they stop services for crypto users The Reserve Bank of India, the country’s central bank, released a new directive early last week after local banks ceased crypto services for users citing a directive from 2018, an official filing shows. In the report, the bank stated clearly, “It has come to…

Read More

Digital Asset Insights #18

Goldman Sachs finally considers Crypto as an asset class – a year after having stated just the opposite The powerful American investment bank, Goldman Sachs, has just now recognized that cryptocurrencies are an emerging new asset class—despite stating otherwise just a year ago. According to its recent report, which was part of a paper posted…

Read More

Digital Asset Insights #17

CHINA SECURITIES JOURNAL SOUNDS ALARM ON CRYPTOCURRENCY FINANCIAL RISKS On Sunday, May 16th, as per an opinion piece in the China Securities Journal (CS), a broader consensus on strengthening supervision of Bitcoin and crypto transactions is currently being undertaken. This comes through several commissions – The China Securities Regulatory Commission, China Insurance Regulatory Commission, and The China Banking Regulatory…

Read More

Digital Asset Insights #16

Digivault Gains FCA Approval This week in the digital currency community, a lot of developments are coming to light. There are new developments in anti-money laundering regulations in the U.K. as Digivault, a custodial arm of Diginex won regulatory approval from the Financial Conduct Authority (FCA) in the U.K. to register as a custodian wallet…

Read More

Digital Asset Insights #15

Marathon OFAC Pool Attracts Criticism The new week ushered in a variety of events. One major event is mining a fully regulation-compliant mining pool by Marathon Digital Holdings (MARA). The new mining pool was successfully mining a bitcoin block that is “fully compliant with U.S. regulations.” And this impacts individuals with dealings in dark web…

Read More

Digital Asset Insights #14

Mastercard to pair with Central bank digital currencies? Last week marked the end of April and ushered in the new month. The digital asset space for the week seemed to be centered around the price of bitcoin and the interest of several financial corporations in the digital asset space. First on the list is Mastercard,…

Read More