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…

Dollars on Blockchain ‘Better Than Central Bank Monopoly on the Payments System’

Brian Brooks, the Acting Comptroller of the Currency and former head of Coinbase’s legal department, put forward blockchain as better than the United States’ current bank-dependent payments system. Decentralization for future payments On July 29, Brooks spoke with Aaron Klein of the Brookings Institution, a major U.S. think tank. In answer to hypothetical platforms for a future five-year term as Comptroller — Brooks is, at this point, in a liminal state as acting comptroller — Brooks emphasized decentralization: “I’m a believer in decentralization. At the end of the day, I…

‘Crypto in Context’ Program Launches to Educate Regions in Need

The Electric Coin Company, or ECC, the outfit behind the privacy-focused Zcash cryptocurrency, has initiated the Crypto in Context Program. The effort touts itself as a crypto education, assistive and collaborative movement, looking to impact regions where individuals lack financial service access and other difficulties, a July 29 ECC blog post said. The program harnesses “hands-on” interaction and fellowship, utilizing players from the crypto sector, the post said. The effort keys on regions in need Cryptocurrency holds a number of financial benefits, including wealth storage, income generation, lending and borrowing…

Ethereum’s Adoption Rate After 5 Years Far Exceeds Bitcoin’s

One key metric suggests that Ethereum (ETH) has enjoyed a much faster rate of adoption and growth in the first five years of existence than Bitcoin (BTC). Comparing the total number of addresses after n days for both Bitcoin and Ethereum. Source: Cointelegraph, Glassnode, Etherscan. We compared the total number of addresses created in the first five years on both major blockchain networks. While the number of addresses could be a good gauge of the rate adoption, it may not be perfect for various reasons. One reason is that the…

Cleaning Up Crypto Exchange Wash Trading Will Take Global Regulation

When Bitwise Asset Management declared in a March 2019 presentation to the United States Securities and Exchange Commission that 95% of the Bitcoin (BTC) trading volume being reported globally on cryptocurrency exchanges was “fake,” it jolted rating firms, exchanges and the larger crypto world. Data analytics firms recalibrated their exchange ranking metrics, and some assumed it was just a matter of time before wash trading was curtailed if not eliminated. But wash trading was back in the news last week when the CEO, president and chief operating officer of Canadian…

Calling for a Joint Effort: Standardizing Tokenized Carbon Emissions

Climate change is one of the greatest problems facing society today. Therefore, it shouldn’t come as a surprise to see large corporations stepping in to mitigate their environmental impact. For example, Amazon plans to be carbon neutral by 2040; Starbuck has goals to become “resource positive” by reducing carbon emissions; and Microsoft has aims on getting to a carbon-negative status by 2030. Companies that vow to take responsibility for offsetting their own carbon emissions are part of voluntary carbon marketplaces. Unfortunately, a common set of standards doesn’t exist to ensure…

Dutch Regulator Approves Tokenized Real Estate Crowdfunding Platform

Max Crowdfund, a blockchain-powered real estate crowdfunding platform connecting property developers and investors, has received approval from the Financial Markets Authority in the Netherlands. With approval from the AFM, Max Property Group — the platform’s parent company — will commence the platform’s roll-out in partnership with distributed ledger technology provider Jelurida. Investors pay a one-time fee equal to 0.1% of their investment, in addition to monthly administration fees of 0.1%. The fees will be used to purchase and burn MPG’s security tokens. Max Crowdfund attracts 70,000 users pre-launch The platform…