The United States Financial Crimes Enforcement Network, or FinCEN, a bureau of the Treasury Department, has warned financial institutions to consider crypto as a possible means Russia may attempt to use to evade sanctions related to the country’s military action in Ukraine. In a Monday alert, FinCEN reminded U.S.-based financial institutions “with visibility into cryptocurrency”
Inflows into cryptocurrency investment funds rose sharply last week, offering cautious optimism that investors are broadening their exposure to digital assets despite geopolitical uncertainty and monetary tightening from central banks. Digital asset investment products registered $127 million worth of cumulative inflows for the week ending March 6, according to CoinShares data. A CoinShares representative told
The cryptocurrency ecosystem as a whole has taken a back seat to events in the larger world but this is not stopping developers from building. One project that has recently begun to gain traction thanks to its focus on creating a high throughput, low-cost blockchain network is Bitgert (BRISE), a crypto engineering organization that has
Australian NFT trading platform Immutable announced a $200 million Series C funding round led primarily by Singaporean state-owned investment firm Temasek and with participation from Animoca Brands and Tencent. Additional investment from ParaFi Capital, Princeville Capital and Arrington Capital as well as from existing backers King River Capital, Prosus Ventures, AirTree Ventures, Declaration Partners and others have
Crypto continues to move towards mainstream adoption, with more enterprise blockchain applications leveraging cryptocurrencies and other digital assets for operational and transactional purposes. To fully realize this shift, both financial institutions and businesses will have to more wholly embrace the technology by first gaining a better understanding of crypto utility. How Are Enterprises Engaging With
The geopolitical tension between Russia and Ukraine has resulted in investors seeking safe-haven assets. Contrary to expectations by crypto investors, Bitcoin (BTC) has failed to rise along with gold and it remains closely correlated with the U.S. stock markets. Lloyd Blankfein, former CEO of Goldman Sachs, said that the actions of governments freezing accounts, blocking
February saw a noticeable shift between inflation and U.S. Federal Reserve news, followed by news of a conflict in Eastern Europe that completely overshadowed the earlier concerns of economic health. What’s transpiring in Ukraine is causing an immediate marketwide price drop. Bitcoin (BTC) had a notable decline of 11% over a 16-hour time period, while
Ethereum’s native token Ether (ETH) will likely fall below $2,000, according to one popular market analyst. Ether paints a classic bearish continuation setup Pseudonymous market analyst Wolf shared the downside outlook on March 7 as Ether’s price rebounded by over 3% to nearly $2,650, a day after testing its upward sloping trendline near $2,500. Ignoring the
Binance, the world’s largest cryptocurrency exchange by trading volumes, is moving to boost its fiat-to-crypto payments technology by launching its own crypto payment provider. The crypto exchange officially announced on Monday the launch of Bifinity, Binance’s official fiat-to-crypto payment company to connect crypto service providers with the traditional financial system. Bifinity supports more than 50
In further signs of crypto adoption among the art world, a leading United States auction house will accept crypto as payment for a series of paintings. A Jean-Michel Basquiat collection is up for auction by Phillips, with Bitcoin (BTC) and Ethereum (ETH) listed as payment options. The showstopper 16-foot painting, Untitled, 1982, is “estimated in the
The London Bullion Market Association (LBMA) said it wants six accredited Russian gold refiners to clarify if they have commercial ties with sanctioned Russian entities. The association’s request comes a few days after it revoked the membership of three sanctioned Russian banks. LBMA Accreditation The London Bullion Market Association (LBMA) has requested six Russian gold
The United States-based crypto exchange Coinbase has proposed the use of cryptocurrencies to help ensure compliance with economic sanctions. The recommendation comes along with highlighting the ease of laundering and sanction evasion of fiat currencies made possible by traditional financial infrastructures. Written by Coinbase’s Chief Legal Officer Paul Grewal, the blog talks about the growing
Bitcoin (BTC) headed lower into the weekly close on March 6 with geopolitical tensions and associated macro weakness firmly in focus. Could 2022 bring a “Greater Depression”? Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting its lowest levels in over a week Sunday after volatility returned overnight. The pair was in the process of
Institutional investors are returning to accumulate Grayscale Bitcoin Trust (GBTC) shares as the discount to spot price his risen to nearly 30%, data on Glassnode shows. Since December 2021, some weekly sessions saw investors pouring in between $10 million and $120 million into Grayscale’s flagship fund. Meanwhile, the biggest capital inflow — amounting to nearly
Bitcoin (BTC) plunged below $40,000 on March 4 and has been trading below the level throughout the weekend. Although the crypto price action has been volatile in the past few days, Glassnode data shows that institutional investors have been gradually accumulating Bitcoin through the Grayscale Bitcoin Trust (GBTC) shares since December 2021. Another positive sign
What is Solana? Solana is a highly functional open source project that implements a new, permissionless and high-speed layer-1 blockchain. Created in 2017 by Anatoly Yakovenko, a former executive at Qualcomm, Solana aims to scale throughput beyond what is typically achieved by popular blockchains while keeping costs low. Solana implements an innovative hybrid consensus model
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