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Cryptocurrencies have come a long way in gaining acceptance and recognition as a legitimate form of currency and investment. Initially viewed as a niche concept, they have gradually gained the trust of individuals and institutions alike. Established companies and financial institutions have started embracing cryptocurrencies, acknowledging their potential to revolutionize the economic landscape. This article is a daily crypto roundup where you can jumpstart your day with the latest updates on cryptocurrencies like Bitcoin, Ethereum, and more.
Amid the increasing US regulatory scrutiny, cryptocurrencies are witnessing gains. Also, the US Federal Reserve left the interest rates unchanged, but the central bank fueled fears about a renewal of hawkishness later this year. Bitcoin price stood at $25,565.04, registering a 24-hour gain of 2.27 percent, as per CoinMarketCap. Other popular altcoins like Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC), and Solana (SOL) saw a mix of gains and dips across the board.
According to someone familiar, BlackRock, the world's biggest asset manager, is close to applying a Bitcoin ETF (exchange-traded fund). The person said it would use Coinbase (COIN) Custody for the ETF and the crypto exchange's spot market data for pricing. Coinbase declined to comment.
Binance.US, the American affiliate of Binance Holdings founded by Changpeng Zhao, laid off an unspecified number of employees as the crypto firm prepares for what is likely to be an expensive legal battle with US regulators. One of the sources said around 50 people were laid off. Reuters was unable to verify the number or seniority of employees affected independently. A Binance.US spokesperson has yet to respond to emails and calls seeking comment.
Colombia's central bank, Banco de la República, has partnered with blockchain firm Ripple to explore blockchain technology.
According to Ripple, Banco de la República, in conjunction with the Ministry for Information and Communications Technologies (MinTIC), will pilot Ripple's CBDC platform to improve its high-value payments system. The initiative is part of a blockchain experimentation phase conducted by MinTIC.
Ripple said its CBDC platform "will be experimented and tested in a controlled environment without compromising public resources."
Shiba Inu lead Shytoshi Kusama recently posted a cryptic Twitter video with the intriguing message, "Something physical is coming."
The video starts in complete darkness, quickly broken by the appearance of the Shiba Inu logo in a close-up. The logo instantly shrinks, revealing itself fully while emitting a stark light.
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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.
