FTX and Bitstamp move into stock trading, Gemini push into asset management
As crypto trading slows down, crypto exchanges FTX US and Bitstamp US have announced that they are working to offer stock trading. FTX US President, Brett Harrison, explain that the company is “hardly working on the stock” and that users could get the feature in “a few months”.
In addition to offering stock trading, the CEO of Bitstamp USA, Robert Zagotta, announced that the exchange is also considering importing stocks, non-fungible tokens (NFTs), and crypto derivatives.
Gemini, another leading exchange, is engaged in diversifying its offerings with its wealth management frontend. The crypto exchange has acquired BITRIA, a digital asset management platform.
Gemini and BITRIA first partnered in August 2020 to offer an “organizational option”. BITRIA helps advisors manage holdings of bitcoin and other tokens. The move creates one of the industry’s first full-service digital asset custodians for advisors.
As the expansion of crypto services continues, digital assets drive closer to achieving mainstream adoption.
Dogecoin protests as Musk announces that Tesla will accept Doge for Merch
Tesla founder and CEO Elon Musk’s love of Dogecoin (DOGE) has become clear. In addition to holding DOGE, the man of Time of the year 2021 came up with his reason why Dogecoin outperforms Bitcoin, the largest cryptocurrency in the world.
Tesla’s CEO is now announced where customers can purchase selected items using Dogecoin (DOGE). This confirms his initiative announced on December 14. Customers can purchase Cyberquad for Kids (12,020), Giga Texas Belts (835 DOGE) and Cyberwhistle (300 DOGE).
Since the announcement, the memecoin has rallied more than 20%, establishing an intraday high of $0.1933. Over the past 24 hours, DOGE is up 12% and currently trades at $0.19281000. Dogecoin is the 12th largest cryptocurrency with a market cap of $25.6 billion.
Dogecoin (DOGE) 24-hour price chart. The source: Tradingview
Block is building an open Bitcoin mining system, Bitcoin cycle has a long way to go, Rio de Janeiro to hold 1% of reserves in Bitcoin
Just a few days after launching a Bitcoin Defense Fund, founder and CEO of Block (formerly the Square), Jack Dorsey, was announced that his company is building an open Bitcoin mining system. The project aims to make Bitcoin mining “more decentralized and efficient”.
Although more than 90% of Bitcoins have been mined, Fidelity Investments still report that the Bitcoin cycle is far from over. Fidelity calls Bitcoin’s hashrate recovery after China’s ban “really amazing”, with miners currently in “huge” BTC accumulation mode.
After the lead of Miami, Brazil’s second most populous city, Rio de Janeiro has reveal the plan to reduce the city reserve by 1% in Bitcoin. In addition, the city government has hinted at a discount for taxpayers in Bitcoin.
With Bitcoin’s growing popularity, Fidelity believes that proper regulation will lead to more adoption.
Tether freezes 150 million USDT, ARK invests in circularly linked Stablecoins
On Thursday, Tether, the world’s largest issuer of USDT stablecoins, announced that it has frozen three addresses on the Ethereum blockchain that hold $160 million of its assets.
A representative for Tether revealed that they have blacklisted the addresses at the request of law enforcement investigating cyberattacks involving these addresses. Helping law enforcement agencies, Tether has blocked 563 addresses since 2017.
For cryptocurrencies to thrive, there needs to be cooperation between issuers of crypto services and regulatory bodies.
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