Tuesday, July 27

digital assets

Bitcoin, crypto, Cryptocurrencies, digital assets, Ether, Ethereum, Markets, MI Exclusive, Regulation, Singapore

In Singapore, 93% of people have heard of cryptocurrency, 66% of the young own some, and more plan on buying, thanks to the nation’s pro-crypto stance, a survey finds

Singapore flag Emmanuel Dunnand/ Getty Images Most Singaporeans are positive on cryptocurrencies, regardless of age, but it is the country's younger population that is adopting digital coins en masse, thanks to pro-crypto regulation, according to a survey by Australia's Toluna, a consumer insights provider. The survey, which polled around 1,000 people, was conducted in May. It showed 93% of all Singaporeans had heard of crypto and 43% owned it, with adoption highest among 26-45 year-olds. 66% of respondents in that group said they owned some crypto. In the US, only 6% of adults said they invested in bitcoin, according to a recent Gallup poll.The Singapore survey showed 59% believed crypto would reach mass adoption, and 50% believed that bitcoin will be worth more than $367,000 by...
Bitcoin, Blockchain, Celebrity, crypto, Cryptocurrencies, cryptocurrency, digital assets, Markets, MI Exclusive, Raoul Pal, RealVision

RealVision’s Raoul Pal says social tokens are going to be’the next big thing’ for crypto and will grow into a trillion-dollar industry in 5-10 years

crypto coins circle Nurphoto Raoul Pal, former hedge fund manager at Goldman Sachs spoke to Insider about the outlook for the crypto industry. He said social, or community, tokens have the potential to "disrupt businesses' like Disney. He said his RealVision firm will launch a community token within the next year. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Social, or community, tokens are going to be the next big development in the crypto market and have the power to disrupt all kinds of traditional industries, according to RealVision CEO Raoul Pal. Pal, who used to run hedge fund sales at Goldman Sachs, before retiring at 36 and devoting himself to other investments, told Insider in an interview he's so sure social tokens will boom that his company...
crypto, Cryptocurrencies, digital assets, Federal Reserve, Markets, MI Exclusive, Regulation, Stablecoins, Tether, yale

Stablecoins should be regulated like banks and central bank digital currencies could tame these’wildcat’ crypto tokens, according to research from the Fed and Yale

US dollar Sopa images/ Getty images Cryptocurrencies that are pegged to a stable asset-known as "stablecoins"-should be regulated as strictly as commercial banks and those that are not should be wiped out to prevent instability in the global payments system, according to a report from researchers at the Federal Reserve and Yale University.The report, titled "Taming the wildcat stablecoins", was released over the weekend ahead of a meeting of a Treasury Department working group on digital assets on Monday. In it, researchers suggested stablecoins should be issued by insured banks and backed by government bonds. But anyone can issue a stablecoin and it is these privately produced tokens that have regulators worried. Tether, for example, is the world's third-biggest cryptocurrency b...
Bitcoin, Cardano, crypto, digital assets, Dogecoin, Ether, Ethereum, Markets, MI Exclusive

Bitcoin, ether and dogecoin briefly slide to lowest in 3 weeks after inflation data sparks fears of faster Fed tightening

STR/NurPhoto via Getty Images Bitcoin dogecoin and cardano's ada token hit their lowest in three weeks at one point on Wednesday before recovering some stability, while ether touched a two-week low after a key measure of US inflation raised concern among investors that the Federal Reserve may put an end to its current policy of low borrowing costs.The US consumer price index rose 5.4% in June compared with a year earlier, the fastest pace since 2008, according to data on Tuesday. Bitcoin was last up around 1% on the day at $32,830, according to Bloomberg data. Earlier, it fell to as little as $31,599, its lowest in three weeks."The strange narrative is that this is due to the strong inflation yesterday in the US, perhaps on the fear that this will bring forward Fed tighten measur...
ADA, América, Bitcoin, Coinshares, crypto trading, Cryptocurrencies, digital assets, Ether, Europe, Markets, MI Exclusive, UK

Crypto trading volumes have fallen to a 9-month low as Europeans ditch bitcoin, although US investors are still buying: CoinShares

British flag and US flag Alex Wong Bitcoin has seen outflows in Europe but inflows from North America in the latest week, according to CoinShares. Trading volumes totalled $1.58 billion for the week to July 9, the lowest since October. Multi-asset investment products, like the Bitwise 10 crypto index fund, were the most popular last week. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Cryptocurrency trading volumes fell to their lowest in nine months in the latest week, as bitcoin continued to fluctuate in a relatively narrow range, according to data from digital asset manager CoinShares on Tuesday.Outflows picked up speed in Europe, where regulators have toughened their scrutiny of cryptocurrency trading in general, while US investors were net buyers o...
Binance, Bitcoin, Coinbase, crypto exchanges, crypto trading, Cryptocurrencies, digital assets, Ether, Ethereum, Kraken, Markets, MI Exclusive

The amount of bitcoin held on exchanges is at its lowest in 6 months, while ether reserves are at record lows, indicating any sell-offs could be a lot more modest

Ethereum, Bitcoin and Litecoin Yuriko Nakao The amount of bitcoin and ether traders hold in exchanges relative to total supply has dropped dramatically in the past few weeks, which analysts say cuts the chances of another big sell-off in the two cryptocurrencies.The ratio of bitcoin held on exchanges versus total number of coins in circulation has fallen to 13% in July, its the lowest level in 6 months, according to data from crypto analytics group Santiment on Tuesday.Similarly, the amount of ether held on exchanges as a percentage of total supply fell to just 18% in June, which is the lowest on record and the most recent figures from Santiment.Santiment tweet Santiment "The ratio of bitcoin's supply on exchanges has encouragingly slid down to its lowest since early January....
Bank of Japan, CBDC, Central Bank Digital Currency, Cryptocurrencies, digital assets, digital currencies, Digital Currency, digital yuan, Japanese yen, Markets, MI Exclusive

Japan’s plans for a digital yen could start to take shape next year, according to a top lawmaker, report says

REUTERS/Shohei Miyano The head of the ruling party's digital currency initiative told Reuters digital yen plans could take shape next year. He said he expected this to provide clarity on its impact on the existing financial system. The Bank of Japan started exploring a central bank digital currency earlier this year. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Japan's plans for a digital yen could start to come together next year and the design of a potential central bank digital currency will be clearer then, the head of the ruling party's digital currency initiative, Hideki Murai, told Reuters in an interview published on Monday. "By around the end of next year, we'll have a clearer view of what Japan's CBDC would look like," he said, adding this...
Bitcoin, CBDC, Crypto assets, Cryptocurrencies, Cryptocurrency Regulation, DAOs, digital assets, Markets, MI Exclusive, Wyoming

Wyoming is the first US state to approve a DAO, consolidating its crypto-friendly reputation

US flag Gary Hershorn American CryptoFed DAO has been allowed to legally operate in Wyoming from July 1. Decentralized autonomous organizations are pieces of code that execute actions on the blockchain without any intermediaries. This is another in a series of steps that have made Wyoming one of the most crypto-friendly US states. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Wyoming has legalized a decentralized autonomous organisation (DAO) with effect from July 1, marking another in a series of steps that have made the state the most crypto-friendly jurisdiction in the United States. American CryptoFed DAO, which runs a stablecoin on its network, has received approval from the state to operate as a distinct type of limited liability company, accordi...
argentina, Bitcoin, Brazil, CBDC, Central Bank Digital Currency, Central Banks, crypto, digital assets, El Salvador, El Salvador bitcoin, Emerging Markets, Ether, Markets, MI Exclusive, Panama

Emerging markets could be the next big frontier for crypto. A slew of politicians want to follow El Salvador and adopt bitcoin as legal tender.

Emerging markets are pioneering digital and crypto currency usage, trading and mining. Since El Salvador voted to adopt bitcoin as legal tender, a slew of politicians have said they want to follow suit. Many showed their support through tweets or by adding the symbolic laser eyes to their Twitter pictures. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Cryptocurrencies can often stir up concern among conservative investors and few are as conservative as central banks, and regulators are definitely skeptical. But this does not appear to be the case in emerging markets.Politicians, central bankers and reg...