Posted in Crypto News

Major Chinese Banks Allow Public Users To Access Digital Yuan Wallets

Six Chinese state-owned banks gives public users access to digital yuan wallets in Shanghai and Beijing which will give room for wider usage.

The sic banks include the Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China, Bank of China, Postal Savings Bank of China and Bank of Communications.

Users can apply for wallet activation instead of the previous method of winning a lottery or be invited.

Posted in Crypto News

Coinbase to Establish Business Presence in India Amidst uncertain Crypto Regulation

Coinbase Exchange announced plans to establish a business presence in India despite the crypto regulatory uncertainties in the country.

The Indian establishment will support positions like IT services, including engineering software development and customer support operations in India.

Coinbase plans to leverage the engineering skill sets of Indians to create a more user-friendly crypto economy, “India has been known as a hub for… technology innovation”

Posted in Crypto News

Goldman Sachs files With U.S.SEC for Bitcoin Related Investment Product

Goldman Sachs files with the US securities and Exchange Commission for investment product tied to a security or basket or securities like an ETF called a linked note.

Investors could get indirect exposure to bitcoin.

The linked note will track RK innovation, an ETF affiliated to Grayscale.

Bloomberg ETF analyst, Eric Balchunaslt, that Goldman’s new Bitcoin-linked product is “like a side bet for its bigger institutional clients.”

Posted in Crypto News

Cboe Considers Re-listing Bitcoin Futures, Says Ed Tilly

CEO Ed Tilly says that Cboe Global Markets could re-list bitcoin in a report published on Thursday, that they still have interest in the asset.

They were the first to ever list bitcoin futures in December 2017 though stopped and explained it was assessing its approach.

CME however as a rival now has nearly $3 billion worth of open interest for its bitcoin futures.

Cboe also looks at listing bitcoin exchange-traded fund (ETF).

Posted in Crypto News

Cryptocurrency Investments

Harris poll records that roughly 7% of Americans have used their stimulus check in purchase of BTC and ETH.

Americans are looking for assets to grow their net worth other than cash.

Market analyst Willy Woo says that about 100,000 new crypto users enters the market every day.

Investors are seen to be turning to cryptocurrency as a way to make more profits.

Posted in Crypto News

Tether Skyrockets

Tether (USDT), skyrocketed above $40 billion market capitalization on Wednesday making it fourth – Largest digital asset after Bitcoin, Ethereum, and Binance Coin.

USDT dominance is currently around 67% and four times larger than the USD Coin among Stablecoins.

Tether has see a remarkable 900% growth in twelve months.

As the quote currency on most exchanges, it’s growth reflects the general growth of the Crypto market.

Posted in Crypto News

Launch Bitcoin ETF

Fidelity Asset Manager, files with U.S.SEC to launch a bitcoin exchange-traded fund (ETF), tagged The Wise Origin Bitcoin ETF.

The filling reveals that FD Funds Management LLC is sponsoring the fund as an administrator alongside Fidelity service Company, Inc.

Fidelity Digital Assets will custody the Exchange-traded fund.

The ETF will provide direct exposure to bitcoin, and the shares will be evaluated by the shared performance of the Fidelity Bitcoin Index PR.

Posted in Crypto News

App Lolli

The Crypto startup announced today that it has raised a $5 million pre-Series, a funding round that would interest investors.

Alexis Ohanian, Serena Williams and others helped build this round.

Unlike other apps, Lolli is in the affiliate business. It rewarded over 250,000 users with Bitcoin for shopping. They also have recorded about $3 million worth of Bitcoin rewarded to its users.

Posted in Crypto News

Flare (FLR) on Cardano(ADA)

The team behind the much-anticipated Flare(FLR) considers to integrate DA with majority of FLR enthusiasts ready to see ADA added as an F-asset.

Earlier this year, the referendums also have approved the additions of F-Doge and F-LTC tokens.

Also, Majority of Flare Twitter followers are certain of ADA’s success on Flare and solves issues of both liquidity and decentralized applications interoperability. FLR tokens will be airdropped to all the Dec 12 2020 participants.