This week in coins. Illustration by Mitchell Preffer for Decrypt. With Sam Bankman-Fried charged and behind bars and FTX’s implosion beginning to fade (ever so slightly) into the rearview mirror, this week saw coin prices finally start to act normal. And that meant: just as turbulent as the stock market. Bitcoin (BTC) and Ethereum (ETH) moved in lockstep with Wall…
A global standard for banks’ exposure to crypto assets has been endorsed by the Group of Central Bank Governors and Heads of Supervision (GHOS) of the Bank for International Settlements (BIS). The standard, which sets a limit of 2% on crypto reserves among banks, must be implemented on January 1, 2025, according to an official announcement on Dec. 16. The…
Cardano fell to a fresh all-time low on Saturday, as prices plunged by over 10% to start the weekend. The move saw the token drop for a third straight session, as a red wave swept through cryptocurrency markets. Binance coin also moved lower, dropping for a seventh consecutive day. Cardano (ADA) Cardano (ADA) moved to a fresh all-time low to…
Ethereum fell below $1,200 to start the weekend, as prices continued to trade close to a multi-week low. This decline comes as market sentiment remained bearish following a big week of economic data. Bitcoin also extended recent declines, as traders remained nervous following news that financial auditor Mazars paused all work for crypto clients. Bitcoin Bitcoin (BTC) extended recent declines…
Bitcoin (BTC) only needs one more key on-chain signal for a classic bull market to begin, analyst David Puell says. In a tweet on Dec. 17, the Puell Multiple creator argued that the stage is almost set for the end of the BTC price bear market. Puell: Bitcoin network activity “underwhelming” Despite many calling for new BTC/USD lows of $12,000…
The fallout from the collapse of failed crypto exchange FTX is forcing Web3 brands, and projects previously focused on managing the public’s perception, to concentrate on fighting for their very legitimacy, Laura K. Inamedinova, a Web3 marketing expert, has said. Besides just trying to convince backers and investors, Inamedinova said Web3 players have the more formidable task of convincing regulators.…
The Digital Currency Group and its affiliates (DCG), which manages $296.7 million (280 million euros) in deposits and digital assets of crypto exchange Bitvavo for off-chain staking services, suspended repayments citing liquidity problems amid the bear market. However, Bitvavo announced to prefund the locked assets, preventing DCG-induced service disruption for users. With users proactively exploring self-custody options as a means…
A report issued by Capgemini, a consulting firm, has found that most consumers are at least curious about the metaverse and what it might bring to their lives. The report, which also examined consumer and company expectations of immersive experiences, explains that many are already taking advantage of the metaverse concept. Capgemini: Metaverse Seeing Interest From Consumers and Organizations The…
The United Nations High Commissioner for Refugees (UNHCR) recently said it has launched a blockchain payment solution for digital cash distribution to internally displaced persons (IDPs) in Ukraine. According to the agency, the use of the blockchain-based cash distribution system ensures the funds are instantly transferred to the intended recipients. Only ‘Most Impacted and Vulnerable People’ Qualify The United Nations…
As borders open up following prolonged COVID-induced travel restrictions, the Metaverse, one of the latest sub-crypto ecosystems, is set to help travelers decide on the destinations they want to experience in person, reveals a new survey conducted by Booking.com personally. Popular online travel agency Booking.com surveyed 24,179 respondents across 32 countries, which revealed travelers’ strong interest in virtually exploring destinations…
