Crypto Update HQ

2023-06-21 09:07:36 Daily cryptocurrency rates Open / Comment

2023-06-21 08:53:19 Tokenization of assets worth $5 trillion is expected to occur in the next five years, representing 2% of the global money supply, according to a report by asset management company Bernstein, as reported by CoinDesk.

We anticipate a significant increase in the circulation of stablecoins and central bank digital currencies (CBDCs) due to the Chinese CBDC program, noted Gautam Chhugani, an analyst at the firm.

Chhugani also highlighted that income farming opportunities in decentralized markets will compete with traditional bank deposits as an investment or savings instrument.

However, Chhugani acknowledged the challenge of regulatory uncertainty. He emphasized that the success of the tokenization process relies on policymakers recognizing the advantages of blockchain and understanding the role of crypto tokens in decentralized systems.

Otherwise, "regulatory hurdles will undermine the benefits of tokenization."

#Tokenization #CryptoAssets #Blockchain #Stablecoins #CBDC #DecentralizedMarkets #Cryptocurrency #CryptoNews Open / Comment

2023-06-16 21:01:40 Bitcoin
BTC: $26,187.00
+4.66% (+$1,164.96)
Market Cap: $507,752,840,733
Volume: 19,404,018.00 BTC

Ethereum
ETH: $1,693.67
+3.26% (+$53.46)
Market Cap: $203,501,660,768
Volume: 120,214,903.09 ETH

Tether
USDT: $0.999
+0.04% (+$0.000)
Market Cap: $83,463,780,092
Volume: 83,562,835,051.15 USDT

BNB
BNB: $239.71
+3.20% (+$7.43)
Market Cap: $37,333,777,887
Volume: 155,855,196.00 BNB

USD Coin
USDC: $1.000
+0.07% (+$0.001)
Market Cap: $28,188,532,435
Volume: 28,196,615,586.38 USDC

XRP
XRP: $0.470
-0.94% (-$0.004)
Market Cap: $24,412,145,762
Volume: 51,987,017,573.00 XRP

Lido Staked Ether
STETH: $1,692.57
+3.22% (+$52.84)
Market Cap: $12,225,968,949
Volume: 7,227,795.37 STETH

Cardano
ADA: $0.264
+3.31% (+$0.008)
Market Cap: $9,233,928,566
Volume: 35,045,020,830.32 ADA

Dogecoin
DOGE: $0.062
+2.01% (+$0.001)
Market Cap: $8,663,729,738
Volume: 139,793,846,383.70 DOGE

TRON
TRX: $0.071
+0.54% (+$0.000)
Market Cap: $6,356,331,525
Volume: 90,057,570,201.24 TRX

#Cryptocurrency #Bitcoin #Ethereum #Tether #BNB #USDC #XRP #STETH #Cardano #Dogecoin #TRON #CryptoNews Open / Comment

2023-06-16 20:59:11 Jack Dorsey pledges $5M to support Bitcoin developers

Block CEO Jack Dorsey has announced a $5 million donation to the Brink fund, aimed at supporting Bitcoin Core developers. This exciting initiative is part of Dorsey's Start Small campaign, which was initially launched to provide assistance during the COVID-19 pandemic.

Brink, a non-profit organization founded by Bitcoin developers John Newbery and Mike Schmidt, will receive annual funding of $1 million for the next five years from Start Small.

Brink's mission is to strengthen the Bitcoin protocol and network through fundamental research and development while supporting the developer community through funding, education, and mentorship.

Together, we can empower the future of Bitcoin!

#Bitcoin #DeveloperSupport #StartSmall #Brink #JackDorsey #CryptoNews Open / Comment

2023-06-15 08:43:42 1. Bitcoin (BTC)
Price: $25,004.00
Percentage Change: -3.69% (-$956.78)
Market Cap: $485,182,845,901
Trading Volume: 19,402,550.00 BTC
Tags: #Bitcoin #BTC

2. Ethereum (ETH)
Price: $1,646.34
Percentage Change: -5.39% (-$93.76)
Market Cap: $197,946,424,394
Trading Volume: 120,217,444.14 ETH
Tags: #Ethereum #ETH

3. Tether (USDT)
Price: $0.998
Percentage Change: -0.15% (-$0.002)
Market Cap: $83,412,393,453
Trading Volume: 83,557,308,297.02 USDT
Tags: #Tether #USDT

4. BNB (BNB)
Price: $235.95
Percentage Change: -5.60% (-$13.99)
Market Cap: $36,794,614,899
Trading Volume: 155,855,196.00 BNB
Tags: #BNB #BinanceCoin

5. USD Coin (USDC)
Price: $1.000
Percentage Change: +0.08% (+$0.001)
Market Cap: $28,111,355,375
Trading Volume: 28,099,978,577.22 USDC
Tags: #USDC #Stablecoin

6. XRP (XRP)
Price: $0.485
Percentage Change: -6.04% (-$0.031)
Market Cap: $25,240,222,971
Trading Volume: 51,987,017,573.00 XRP
Tags: #XRP #Ripple

7. Lido Staked Ether (STETH)
Price: $1,646.47
Percentage Change: -5.38% (-$93.54)
Market Cap: $11,851,971,268
Trading Volume: 7,198,484.94 STETH
Tags: #STETH #Lido

8. Cardano (ADA)
Price: $0.261
Percentage Change: -5.34% (-$0.015)
Market Cap: $9,138,224,516
Trading Volume: 35,045,020,830.32 ADA
Tags: #Cardano #ADA

9. Dogecoin (DOGE)
Price: $0.060
Percentage Change: -2.87% (-$0.002)
Market Cap: $8,407,952,372
Trading Volume: 139,773,526,383.70 DOGE
Tags: #Dogecoin #DOGE

10. TRON (TRX)
Price: $0.072
Percentage Change: -0.38% (-$0.000)
Market Cap: $6,483,308,575
Trading Volume: 90,078,106,609.20 TRX
Tags:

#TRON #TRX

Stay updated with the latest cryptocurrency news! #Bitcoin #Ethereum #Tether #BNB #USDC #XRP #STETH #Cardano #Dogecoin #TRON Open / Comment

2023-06-14 23:14:56 US Federal Reserve maintains key interest rate. Bitcoin temporarily drops below $26,000.

On June 14th, the US Federal Reserve (Fed) decided to keep the range for the key interest rate at 5-5.25% annually, marking the first time since March 2022.

The decision aligned with market expectations. According to the Fed, inflation in the US remains high, unemployment is low, and economic activity continues to grow at a modest pace. The agency aims to achieve 2% inflation in the long term.

"The US banking system is strong and resilient. Tighter lending conditions for households and businesses are likely to impact economic activity, employment, and inflation. The extent of these consequences remains uncertain. The committee remains highly attentive to inflation risks," the press release stated.

On June 13th, the US Bureau of Labor Statistics released the consumer price index report, which showed a slower growth rate in May compared to analysts' forecasts—4% growth YoY, down from 4.9%.

The cryptocurrency market had minimal reaction to the news. According to CoinGecko, the prices of the largest cryptocurrencies by market capitalization showed no significant changes.

Bitcoin initially dropped to $25,750 but then rebounded to $26,000. At the time of writing, the total market capitalization of cryptocurrencies remained at $1.1 trillion.

This decision to maintain the interest rate followed a series of 10 consecutive rate hikes. Since March 2022, the range for the key interest rate has increased by 500 basis points.

Stay informed about the latest developments in the financial markets and the impact on cryptocurrencies. #Fed #Bitcoin #Cryptocurrency Open / Comment

2023-06-14 21:00:00 Congressman criticizes SEC Chairman over Binance case

Instead of focusing on Binance's past actions, SEC Chairman Gary Gensler turned his attention to Kim Kardashian's involvement in an illicit cryptocurrency project, according to Congressman Patrick McHenry. #SEC #Binance

McHenry, the Chairman of the House Financial Services Committee and co-author of two bills aimed at eliminating regulatory uncertainty in the digital asset industry, expressed his dissatisfaction with Binance. He believes Gensler should have taken swift action against the world's largest cryptocurrency exchange. #Crypto

"The platform is an illegal entity engaging in illicit financial operations. We could have pursued 'bad actors' much more effectively. Frankly, Binance should have been shut down years ago," McHenry stated. #Regulation

McHenry agrees with the prediction that federal prosecutors will bring criminal charges against the platform. He jokingly criticized the SEC for focusing on Kim Kardashian instead of taking necessary actions. #Cryptocurrency

The hearings revealed that McHenry's proposed Digital Asset legislation has divided Republicans and Democrats. While Republicans generally support a cryptocurrency-focused approach, Democrats are supportive of Gensler's actions. #Congress

"The bill allows crypto firms, currently facing lawsuits for violating our securities laws, to continue operating with pre-registration. It seemingly suspends any SEC enforcement actions against companies, even if they have committed fraud," said Maxine Waters, the Chair of the Senate Banking Committee. #DigitalAssets

Republican Congressman Warren Davidson, co-author of the bill calling for Gensler's removal and agency restructuring, believes that the SEC Chairman has exceeded his authority. #SEC #Congress

"Much of the problem has been the agency head's desire to use all of the power... to execute an agenda in any given situation," Davidson stated in an interview. #Regulation

Stay tuned for updates on the ongoing discussions surrounding Binance and regulatory actions. #CryptoNews #Binance #SEC Open / Comment

2023-06-14 20:04:27 Michael Saylor, the founder and former CEO of MicroStrategy, predicts exponential growth for Bitcoin due to regulatory developments. He believes that regulatory clarity will drive Bitcoin adoption and solidify its dominance in the market. #Bitcoin

Saylor notes that most of the SEC's concerns revolve around tokens resembling securities. Bitcoin, classified as a commodity, faces less regulatory scrutiny. #SEC #Regulation

According to Saylor, the logical next step for Bitcoin is a tenfold increase in value, followed by another tenfold surge. He remains confident in Bitcoin's long-term potential. #Crypto

MicroStrategy, under Saylor's guidance, became the first publicly traded company to convert a significant portion of its capital into Bitcoin. It now holds around 140,000 BTC, making it the largest Bitcoin holder among publicly traded entities. #MicroStrategy

The increasing institutional interest in Bitcoin and regulatory developments are expected to shape the cryptocurrency landscape. Confidence in Bitcoin's future growth continues to grow. #Cryptocurrency

#Bitcoin #Crypto #Regulation #MicroStrategy #DigitalGold Open / Comment

2023-06-14 13:01:27 Open / Comment

2023-06-14 10:04:24 The UK Financial Conduct Authority (FCA) has added Bitstamp, a Bitcoin exchange, to its register of registered cryptocurrency firms. The corresponding information has been posted on the regulator's website.

The decision came into effect on June 13 and reflects the firm's compliance with regulatory requirements regarding anti-money laundering.

The list also includes brokerage firm Interactive Brokers. In 2021, it launched cryptocurrency trading and later announced the transition to 24/7 digital asset trading and the addition of new coins to its listing.

Previously, FCA approval was granted to the subsidiary of the Bitcoin exchange Kraken and infrastructure provider MoonPay. At the time of writing, the register includes over 40 companies. Open / Comment