Over the weekend… Social media interest in Bitcoin hit an all-time high on Twitter. The TIE, a crypto data company, reported that 66,832 individual accounts tweeted about BTC on January 2nd, surpassing the previous high from December of 2017.
Ukraine’s Ministry of Digital Transformation has announced they will be developing their own CBDC on the Stellar Blockchain. Currently, the Ministry is developing the legal framework for digital assets in the country.
The US Office of the Comptroller of the Currency announced that federal banks can now distribute funds via blockchain technologies. This would eliminate the need for wire transfers and other payment means.
The Italian Banking Association (IBA) launched a digital euro research project to explore feasibility and use cases. The IBA is joining France, Estonia, and Ukraine, among others, in researching and/or developing CBDCs.
Mark Cuban announced via Twitter that if Bitcoin’s price hit $1 million, he would run for president. The tweet reads as follows: “I’ll run if BTC gets to $1m AND we can get commitments to donate 350 BTC to the Treasury each of the 4 yrs so that we can give 1 satoshi to every citizen each yr, that they must hold for 10 years. How’s that sound :)”
Only 22% of the Bitcoin supply is left in circulation. The remaining 78% is either lost forever or stored on offline wallets.
South Korea’s Ministry of Economy and Finance will be implementing a 20% tax on cryptocurrency trading profits starting in 2023. Originally, the tax was to be implemented in October of 2021, but was delayed due to framework changes.
We launched EQUOS BTC Perpetual Futures Contracts, granting investors access to crypto derivatives in a regulated environment with industrial architecture. As an exchange, our goal is to develop products that facilitate trading through differentiated product offerings.
Bitcoin hit $41,973. So far, the asset has increased by 40% this year alone, and is up 300% since early December.
Morgan Stanley acquired 792,627 shares in MicroStrategy, granting the bank a 10% stake in the firm. This piece of news reinforces the fact that institutional interest in crypto is accelerating, as MicroStrategy has made news-breaking investments in Bitcoin in the past year.
Italian Banking Association: https://www.ledgerinsights.com/italian-banking-association-launches-digital-euro-project/
It looks like crypto isn’t correlated to traditional markets, at least not during this past session.
Bringing digital assets to the world.
EQONEX is a digital assets financial services company focused on delivering a full, digital asset ecosystem that offers innovative, trusted, and transparent products and services.
© 2022 EQONEX Capital Pte Ltd
All rights reserved.