Major crypto-news of the week
Crypto market
The main event of the week was undoubtedly the new growth of bitcoin and the storming of the psychological price point of $50,000. The rate of the leading cryptocurrency in the moment reached $49,800 on the Binance exchange.
The biggest altcoins are also updating local highs following BTC.
With the current recovery, crypto investors believe in a continued bullish rally and are accumulating coins in their private wallets, withdrawing them from trading platforms. Thus, according to analyst portal Glassnode, bitcoin outflows have dominated the crypto exchanges in August, and a record amount of BTC has been withdrawn from exchange wallets since late July.
Overall, the crypto market is positive: bitcoin is back near 50k, and investors are full of confidence in the bright future of the blockchain industry – why success is not to be doubted, we wrote in separate material.
Russian cryptorealities
In the framework of the presidential anti-corruption decree, Putin instructed the Ministry of Finance, Ministry of Labor, Ministry of Digital Affairs and the central bank to prepare algorithms to check information about the possession of digital assets by citizens and organizations by November 15, 2021.
In addition, these agencies have until December 20, 2022 to analyze the use of digital technology in public services.
DeFi under the U.S. hood
US SEC Chairman Gary Gensler said his agency is watching the DeFi industry and will take legislative action against them if necessary.
In particular, he singled out DeFi projects that reward industry participants with tokens and other incentives – such platforms could come under SEC scrutiny regardless of the level of decentralization.
Transparent Binance
Cryptocurrency exchange Binance has introduced mandatory verification for all new users amid growing pressure from regulators around the world and the CZ rate for compliance with legal regulations in various countries.
From now on, new exchange customers must pass an intermediate verification to gain access to Binance services. This includes sending proof of identity and the user’s own photo.
For customers who have not completed the KYC, restrictions are imposed – they able to withdraw assets, cancel orders or close positions.
World giants are interested in Crypto
BlackRock, the world’s largest investment firm with nearly $9 trillion under management, has bought stakes in US mining companies Marathon Digital Holdings and Riot Blockchain.
BlackRock now owns 6.71% in Marathon and 6.61% in Riot.
In addition, retail giant Walmart this week began searching for a cryptocurrency specialist to head the retail giant’s blockchain business.
The new position will involve managing the company’s digital currency strategy as well as seeking strategic partnerships in the blockchain sphere.
New CFTC head is a crypto enthusiast
Joe Biden will appoint Rostin Benham, who in the past has been very positive about bitcoin
suggesting that cryptocurrencies will become part of any country’s economic practices and reduce poverty and corruption around the world, to head the CFTC.
The NFT Era
The NFT trading volumes in August have already set an all-time record in the area above $1 billion.
This comes amid a genuine interest in the industry lately from some of the most famous personalities and companies.
In fact, just this week:
- Alibaba launched its own NFT marketplace
- The Hermitage is creating an NFT of Malevich’s Black Square
- Mike Tyson put up for sale the best moments of his career as an NFT
Keep with us to keep up with the latest news.
Check also other news about crypto:
10ASH.com and other gambling sites are forced to restrict play in 4+ countries by Antillephone.
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