Blockchain Industry Update (Coinbase, Kraken, Bitstamp, MicroStrategy)

Have a read of our newest blockchain update with our CEO Taras Filatov comments,

::Blockchain::

Top Russian bank Sberbank plans to launch its stablecoin by spring 2021. Sberbank has applied with the Central Bank of Russia to launch a blockchain platform for its Sbercoin stablecoin. TF: I guess Sberbank doesn’t have to comply to Russian law forbidding the cryptocurrency trading. In other news below, Russian officials are banned from holding any digital currencies.

Coinbase Custody to support Dvision Network. Blockchain platform Dvision Network has revealed that digital asset custodian platform Coinbase Custody will be providing a cold-storage solution for its native token DVI.

 

::Crypto::

Binance destroys $166 Million of BNB in largest burn ever. Crypto exchange Binance has completed its quarterly burn, removing 3.7 million BNB from the ecosystem.

Dubai is looking to implement new crypto regulations. The regulation would cover digital assets like Bitcoin and tokenized securities.

Thai SEC tells Bitkub crypto exchange to improve platform after trading outages. The regulator ordered the Bitkub exchange to close and fix issues that caused several outages as prices spiked this month.

Kraken adds 26 new crypto trading pairs to capture growing UK and Australia Markets. Kraken’s biggest ever expansion of trading pairs is aimed to grow its presence in the two promising markets.

Crypto market maker Wintermute raises $20 million from Pantera Capital and Fidelity’s Avon.

The Mayor of Miami is building out his cryptocurrency team. He has been open to cryptocurrencies and aims to make Miami the most competitive crypto city in the world.

Finlaw Associates to submit draft cryptocurrency regulation to Indian Government as community demands for clarity. TF: a welcome development!

Bitstamp introduces KYC regulations for its Netherland users. Bitstamp’s users in the Netherlands will now be required to present photographic ID to withdraw their crypto funds to external wallets.

DeFi Coins boom as crypto market recovers. The crypto market appears to be recovering, with the strongest gains made by coins powering DeFi protocols.

Bahrain central bank licenses Sharia-compliant crypto exchange. Bahrain-based crypto exchange CoinMENA acquired a major license ahead of its launch in several countries including the UAE and Saudi Arabia.

Russian Public Officials banned from holding cryptocurrency. Russian government officials must dispose of any digital asset holdings before April 1, a letter from the Ministry of Labor states.

U.S. crypto exchange Coinbase announces to sell stock on Nasdaq’s private market ahead of its IPO.

Secure Messaging App Signal reportedly toying with crypto payments. Staff at the firm are said to be worried the addition would bring bad actors and unwanted regulatory attention.  TF: meanwhile in our Dappros Connect solution users can transfer ERC20 tokens freely between each other including in chat messages.

 

::Bitcoin::

MicroStrategy just added 314 bitcoins for $10.0 million in cash in accordance with its Treasury Reserve Policy, at an average price of approximately $31,808 per bitcoin.

Grayscale now owns more than 3% of the total 21 Million Bitcoins. The leading digital asset manager continues to tighten its grip on the bitcoin supply.

Grayscale has accumulated 32,710 BTC in 1 week and 8,762 Bitcoin in 24 hours. The accumulation is happening alongside a Bitcoin correction to the lower $30k levels.

Blackrock, the world’s largest asset manager with $7.81 trillion under management, is getting into bitcoin.

Hut8 borrows $12M from DCG’s Foundry to order new bitcoin miners. The Canada-listed firm is using the loans to order 5,400 units of MicroBT’s WhatsMiner M30S model.

Grayscale submitted to the United States Securities and Exchange Commission about recently issued GBTC shares, the document indicated that the company purchased a whopping $1,276,147,151 worth of bitcoin in one week.

Anthony Scaramucci says holding Bitcoin as safe as owning bonds and gold. Scaramucci’s SkyBridge Capital introduced a new Bitcoin fund in early January.

Hedge Fund Manager Jim Cramer advices US Lottery Winner to put 5% of $731.1 Million Jackpot into Bitcoin.

 

::Digital Currency::

China Construction Bank has launched the DCEP Wallet named Panda.

Tether produces more than 2.5 Million documents to NYAG. Tether and Bitfinex have produced millions of documents but claim they need more time to produce additional papers. TF: crypto community is closely following what is happening around Tether as NY Attorney Generals’ office is investigating Tether. Tether’s stablecoin, USDT, is very popular across crypto world and is often being used for purchasing bitcoin and other cryptocurrrencies. Some sources, most famously the “Bit Short” medium article by an anonymous author, claim that USDT is not backed by monetary reserves and that the allegedly inevitable crash of USDT will in turn cause the Bitcoin to drop in price.

Players from the Dutch Eredivisie league are getting tokenized on Ethereum. The players will be available as NFTs on the fantasy soccer game Sorare.

Pornhub has added support for more cryptocurrencies, including XRP and BNB. In total, the company now supports about sixteen digital currencies.

Silvergate took nearly $3B in deposits from Digital Currency Customers in Q4 2020. Most of the new deposits came from cryptocurrency exchange clients.

VanEck is making another attempt to launch a digital asset-related exchange-traded fund. The firm has filed with the SEC to launch the Digital Assets ETF related to the performance of top cryptocurrency companies.

Grayscale Investments, the world’s largest digital asset manager looks to be preparing for possible launches of new single-asset trusts for a number of cryptocurrencies.

Chengdu is said to give away $8 million digital yuan in latest CBDC test.

 

::Ethereum::

Ethereum whales holding 10k or more ETH increased in number by 32 in 30 days. The total number of addresses in this category has also reached a 13-month high. ETH balances on exchanges continue to drop and are at a 13-month low.

Ether briefly touched a new high of $1,467 earlier this week. This follows a massive outflow of ETH from exchanges last week.

ETH hit a new record high this week following weeks of upward pressure. The second-ranked crypto passed $1,430 for the first time in its history.

 

::Others::

Chainlink now bigger than Litecoin as LINK price hits new high above $24. LINK has entered price discovery and traders should watch several key levels for the next possible top.

Coinbase announces to launch a secondary market for its private stock. The secondary market for its private stock will launch on Nasdaq Private Market.

DeFi Exchange Startup dYdX raises $10 Million in Series B. Three Arrows Capital and DeFiance Capital led the round.

Bitmain Co-Founder exits, resolving a years-long power struggle as mining firm prepares IPO. Jihan Wu is stepping down from his role as part of a settlement.

Genesis clocked in  $8 billion in spot volumes, originated $7.6 billion in loans during Q4.

Credit: Telegram VYSYN – Capital News

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Taras Filatov CEO

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Taras Filatov, PhD Computer Science,
  Dappros Founder & CEO