In yet another sign that the party might be coming to an end in crypto markets, more funds devoted exclusively to cryptocurrencies closed in the first quarter of 2022 than were launched in the same period. According to a new report from research firm Crypto Fund Research (CFR), only 11 new crypto funds were launched last quarter while 14 shut down their operations in the … Continue reading More Crypto Funds Closed Shop Than Launched In First Quarter: Report
About 90% of transaction volume on Bitcoin’s blockchain does not have much economic value and the cryptocurrency’s ownership is concentrated among relatively few investors. These are the results of a new study published by researchers from the Massachusetts Institute of Technology (MIT) and the London School of Economics (LSE). According to the authors, 90% of transaction volume on the Bitcoin blockchain is not tied to … Continue reading Bitcoin Ownership is Still Concentrated and 90% of Transactions On Its Blockchain Do Not Have Economic Value: Study
The approval of a Bitcoin ETF seemed imminent when Gary Gensler became the Securities and Exchange Commission (SEC) chief. In anticipation, several Bitcoin ETF applications were submitted to the agency. Going by Gensler’s recent statements, however, those applications will have to gather dust before his agency takes a look at them. The SEC Commissioner cautioned investors about Bitcoin markets at a conference recently. “Investors should … Continue reading The SEC Isn’t In a Hurry to Approve a Bitcoin ETF But Crypto Isn’t Worried
While institutional funds are still trickling into Bitcoin, the cryptocurrency’s enthusiasts seem to have fixed their aim at another target – retirement accounts. ForUsAll, a San Francisco-based 401(k) provider, has partnered with Coinbase Global to launch Alt 401(k), a new investing platform designed to spur investments into cryptocurrencies and other alternative investments into retirement accounts. According to a press release issued by the company, the … Continue reading Bitcoin in 401(k)s. Too Soon?
Telecom giant AT&T announced yesterday that it has begun accepting Bitcoin for bill payments. The company has partnered with bitcoin payments company BitPay to facilitate the transactions. According to Kevin McDorman, vice president, AT&T communications, AT&T already has customers who use cryptocurrency. “…we are happy we can offer them a way to pay their bills with the method they prefer,” he stated in a press … Continue reading AT&T Goes Crypto, Begins Accepting Bitcoin for Bill Payments
A New York Times report this morning confirms that the Wall Street bank, which has a storied history, plans to begin trading the newest investment instrument on the block in the next few weeks. According to the report, Goldman will use its own money to trade bitcoin futures contracts and is working to develop a new type of derivative – non-deliverable forward (probably named so because bitcoin futures are cash-settled) Continue reading Goldman Sachs Confirms Bitcoin Trading Plans
Traders swung between the optimism and gloom over bitcoin’s future prospects as cryptocurrency markets crashed below $300 billion before recovering this morning. The price of a single bitcoin, which had been on a steady decline since the middle of last week, wobbled to $7,370 Sunday morning. At 15:05 UTC, it had recovered to $8,635. The top 10 most-valuable cryptocurrencies mirrored bitcoin’s price trajectory. After a … Continue reading Bitcoin Price Skedaddles On News Twitter Might Ban Crypto Ads
Lightning Labs has launched a beta version of the first tested version of its software for Lightning Network, the technology which is expected to solve bitcoin’s scaling problems. The software is called LND and uses bitcoin and litecoin currently. Lightning Network decreases transaction costs and increases their speeds by making it possible to open channels between two transacting parties. These channels, which conduct transactions off … Continue reading First Version Of Lightning Labs Software Released