Diginex’s Equos Set To Become First Crypto Exchange Listed in US

Blockchain-powered financial services company Diginex launched its new Equos digital asset exchange on July 30. The exchange will initially host crypto asset spot trading, with plans for “perpetual swaps, dated futures, options, and other derivatives products” to soon follow. The platform will support USD and the USD Coin (USDC) stablecoin at launch.  The spot exchange is licensed under an exemption to the Singapore Payment Services Act, with Diginex having also applied to become a ‘Major Payment Institution’ with the country’s regulator. The platform will also facilitate interoperability with Diginex’s hot…

Fidelity Calls Bitcoin an ‘Aspirational’ Store of Value and an ‘Insurance Policy’

Fidelity Digital Assets, subsidiary of multi-trillion dollar investment firm Fidelity Investments, views Bitcoin (BTC) as an “aspirational store of value” and an “insurance policy” against a troubled financial system according to a new report. Fidelity holds over $8 trillion in assets and its digital assets arm launched in October 2018. Bitcoin is an “aspirational store of value” The report, Bitcoin Investment Thesis: An Aspirational Store of Value, notes that Bitcoin meets the basic test for being considered a store of value but hasn’t achieved that status yet: “Many investors consider…

More Ether Holders Are in Profit Than There Are BTC Addresses in Total

With Ethereum’s recent price rise above $300, there are now more ETH addresses in profit than the total number of addresses holding any amount of Bitcoin. Blockchain statistics indicate that the total number of ETH addresses in the green is 31.86 million, whereas the total number with a Bitcoin balance at all is 30.83 million.   ETH holders in the green The last time Ethereum was priced above $300 was a year ago, and on-chain metrics have improved vastly since then. The findings, as first reported in The Defiant, indicate that…

Bitcoin Is a Better Hedge Against USD Than Gold

Since Black Thursday, Bitcoin (BTC) has become a better hedge against the U.S. dollar than gold. At the same time, its correlation with the S&P 500 Index reached unprecedented highs. Correlations chart. Source: Coinmetrics. Diverging paths after Black Thursday Since the disintegration of the Bretton Woods system in 1971, investors have looked to gold as a hedge against fiat. Gold has consistently exhibited a negative correlation with the dollar with some very rare exceptions, while Bitcoin and the dollar have been uncorrelated with each other until recently. U.S. Dollar Index…

Russian Crypto Scams Triple in First Half of 2020

Cybersecurity firms have identified an exponential rise in crypto-related scams in Russia during the first half of 2020. Researchers identified 23,000 sites involved with crypto scams that are still online and targeting new victims. According to Kommersant, which cited research from Kaspersky Labs, the problem is three times greater than during the same period last year. One common example sees victims offered the chance to complete surveys in order to receive commissions — however they’re required to pay an “entrance fee” fee first. Another scam, identified by Qrator Labs, involved…

Next Bitcoin Bull Run Will Be ‘Dramatically Different’

Cameron Winklevoss, the billionaire founder of cryptocurrency exchange Gemini, believes the next Bitcoin (BTC) bull run will be much different. When compared to previous bull markets, Winklevoss noted that there is substantially more capital, infrastructure, and better projects. Winklevoss said: “The next Bitcoin bull run will be dramatically different. Today, there’s exponentially more capital, human capital, infrastructure, and high-quality projects than in 2017. Not to mention the very real specter of inflation that all fiat regimes face going forward. Buckle up!” Various data points hint at a significant increase in…

Maturity of the Crypto Derivatives Market Attracting More Institutional Investors

In a Cointelegraph China Great Bay Area International Blockchain Week pre-event interview on July 29, Ben Zhou, CEO of derivative exchange Bybit, argued that the maturity of the derivatives market is the main reason for institutions to enter the crypto space.  Biggest concerns for institutional investors   Zhou says that the biggest concern for any institution exploring crypto is the need for proper financial tools to run risk management. Risk management is out of reach without a functional, robust derivatives market. He stressed that:  “Derivatives markets serve a vital function by…

Stablecoin On-Chain Activity Explodes as Bitcoin Breaks $11K

The on-chain activity for the three of the biggest stablecoins exploded as Bitcoin (BTC) was breaking the $11,000 price barrier. 7-day average transfer volume for USDT, DAI, USDC & BTC Price. Source: Glassnode. Stablecoin growth Several stablecoins, including the market-leading Tether (USDT), have recently experienced a significant growth in market capitalization. We observe that a significant increase in the transfer volume of USDT, DAI (DAI), and USDC (USDC) coincided with the latest Bitcoin bull run. It is not clear from the chart whether this metric can be considered a leading…

Dubai Debuts Nationwide Data Platform Powered by Blockchain

This platform is set to become a nationwide system for exchanging verified customer data. Dubai’s Department of Economic Development, or DED, and state-run bank Emirates NBD are rolling out their so-called UAE KYC Blockchain Platform. 120 local firms already signed up for the platform with Emirates NBD First revealed in February 2020, the new blockchain platform is designed to unlock digital customer onboarding, instant bank account functions, and verified KYC data sharing between licensing authorities and financial institutions. Announcing the news on July 28, the DED and Emirates NBD said…

Trezor Takes a Shot at Ledger After the Hack

Following Ledger’s confirmed data breach on June 17, competing hardware wallet manufacturer Trezor cheekily made their followers aware that they frequently purge their systems of all customer order data, including email addresses — apparently every 90 days. Ledger too published a tweet on the data breach incident: “This data breach has no link and no impact whatsoever with our hardware wallets nor Ledger Live security and your crypto assets, which are safe and have never been in peril.” This is a developing story and will be updated. Author: Cointelegraph By…