Marathon Digital Holdings Inc.'s second-quarter loss narrowed and revenue jumped as the Bitcoin miner increased sales of the cryptocurrency in the aftermath of a rebound in prices. The Federal Reserve said it is stepping up scrutiny of lenders' involvement in digital assets, the latest move by the US regulators to limit banks' involvement in cryptocurrency. Crypto brokerage Blockchain.com received a major payment institution (MPI) license from the Monetary Authority of Singapore (MAS), according to a press release on Monday. With this crypto daily roundup, you can jumpstart your day with the latest updates on cryptocurrencies like Bitcoin, Ethereum, and more.
Bitcoin gained more than 2 per cent to regain 29,500-mark, while Ethereum was trading higher, rising more than a per cent but could not race past $1,850-levels. Other popular altcoins like Dogecoin (DOGE), Litecoin (LTC), and Solana (SOL) saw minor movements across the board. The global cryptocurrency market cap was trading slightly higher, rising up to $1.17 trillion-mark as it fell more than half-a-per cent in the last 24 hours.
The Federal Reserve said it is stepping up scrutiny of lenders' involvement in digital assets, the latest move by the US regulators to limit banks' involvement in crypto.
The Fed said Tuesday it had set up a program to strengthen oversight of activities involving digital assets and blockchain technology by the lenders it oversees. Over the past year, the central bank and other regulators have repeatedly warned lenders to be wary of risks associated with the asset class.
Coinbase expects to get more revenue from decentralized applications or "dapps" that build atop Base than from the blockchain itself. The company has participated in discussions among developers over future upgrades for the Ethereum blockchain. Coinbase aims to provide a "trusted interface, curated experiences" to people who previously have not spent a lot of time working with blockchains.
Crypto brokerage Blockchain.com received a major payment institution (MPI) license from the Monetary Authority of Singapore (MAS), according to a press release on Monday. The license allows it to provide regulated digital payment token (DPT) services to its global institutional and accredited investor customers.
"Singapore represents a large, profitable trading hub for Blockchain.com," the company said in its press release. The country currently serves as Blockchain.com's Southeast Asia headquarters.
Marathon Digital Holdings Inc.'s second-quarter loss narrowed and revenue jumped as the Bitcoin miner increased sales of the cryptocurrency in the aftermath of a rebound in prices.
The Las Vegas-based company's net loss narrowed to $19.13 million, or 13 cents a share, from $212.6 million, or $1.94, in the year-earlier period. Revenue more than tripled to $81.8 million, but was below the $83.45 million estimate of analysts surveyed by Bloomberg.
Join our WhatsApp Channel to get the latest news, exclusives and videos on WhatsApp
_____________
Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.