A report from Ethereum (ETH) metrics website Dune Analytics showed a tenfold increase in the number of Ethereum addresses in the decentralized finance (DeFi) ecosystem since last year. There are now 1 million addresses where there were 91,000 on the same date last year.
Hauck & Aufhäuser, a private German bank, announced it would launch its first ever crypto fund. The HAIC Digital Asset Fund I will include crypto assets like Bitcoin (BTC), Ether (ETH) and Stellar (XLM) among others. The bank said it will cover 85% of the total crypto asset market.
Facebook’s plan to rebrand its Libra stablecoin as “Diem” has been halted by a lawsuit filed by European startup…Diem. The finance app startup is concerned that customer confusion will greatly hurt their growth.
Wells Fargo released a report that identified Bitcoin (BTC) as the best performing asset of 2020. At the same time, it highlighted the coin’s volatility by labeling it a speculative investment. The bank said it would be looking deeper into the digital asset space next year.
Mexico’s financial intelligence unit expressed its concern about cartels using crypto to launder funds. In a report, they said they would need four times the amount of staff members to tackle this new kind of criminal activity. They have seen a significant decrease in hard cash seizures since last year.
Blockchain analytics firm Elliptic released a study that showed that the proportion of criminal Bitcoin (BTC) transactions has greatly decreased since its peak in 2012. Due to heightened exchange compliance and law enforcement activity, the percentage has decreased from 38% to less than 3%.
Lionsgate has acquired the rights to the Silk Road movie and plans to release the feature in theaters and online starting on Feb. 19. The movie will follow the events leading up to the arrest of Ross Ulbricht, founder of the darknet marketplace Silk Road.
An investigative report claimed that the Venezuelan government plans to increase its use of cryptocurrencies to bypass U.S. sanctions. So far Venezuela has been trading with Iran and Turkey for food and fuel. The government has seen poor adoption of its state backed ‘Petro’ cryptocurrency and has been using Bitcoin (BTC) and (ETH), among others.
WordPress added a new Ethereum (ETH) plugin. The plugin will allow content creators to auction advertisement space for ETH. The ad revenue will go directly to publishers’ ETH wallets. Even cooler, the ad space is automatically auctioned off using smart contracts.
Vladimir Putin signed a decree that will force Russian government officials to disclose their crypto investments by June 30, 2021. Russian traders say the decree demonstrates that the official establishment will be as compliant as common citizens, without exceptions.
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Yesterday's trading was mixed. Early in the session, even with reports of economic slowdown in the US, traders were still buying, maybe thinking it solidified the accommodative Fed policies.
Yesterday’s narrative was somewhat bittersweet. On the one hand, Fed policies remain hyper accommodating, which is positive. On the other hand, the accommodating stance is based on lingering concerns about the economic recovery in the US (and also globally).
Bitcoin has fallen back below $40,000 today, as the denial from Amazon of the impending acceptance of Bitcoin as a payment method came through. Prices returned to our support level of $36,500 before rallying once more, a sign that this move may be supported by more than just click-bait headlines.