02.02.2022, 12:09

Crypto Market Highlights February 2nd, 2022

MyCryptoMetaMask, Solana Pay, Bitcoin Savings Plan and more crypto market news compiled in the last 24 hours.

Crypto Market Highlights: Investment News

Exchange Traded Fund (ETF) manager VanEck has announced the launch of its first crypto fund. The fund is listed as an Exchange Traded Note (ETN) on the Deutsche Börse Xetra and Schweizer SIX stock exchanges with exposure to Bitcoin, ETH, Polkadot (DOT), SOL, Tron (TRX), Avalanche (AVAX) and Polygon (MATIK).

German stock exchange Deutsche Börse has expanded its product offering to include crypto ETNs, growing from 4 to 36 products from 8 providers by the end of 2021. The average monthly trading volume increased by more than 1 billion euros ($1.13 billion), or 922%, they said.

DeFi Technologies has announced that its subsidiary Valor, which focuses on exchange-traded (ETP) products for digital assets, has received approval to initiate SOL trading on Boerse Frankfurt Zertifikate AG. Valor Solana ETP trading begins on February 2nd.

Binance Labs, cryptocurrency exchange Binance’s venture capital and innovation incubator, has announced its latest strategic investment in Metaverse gaming platform StarryNift. Further details of the transaction were not disclosed.

Institutional crypto trading services company BCB Group has acquired blockchain and digital asset store LAB577 for an undisclosed amount. The two companies have been working together for four years, adding that they “share a common vision to make the financial system fair, inclusive and sustainable through innovation.”

Crypto Market Highlights: Stock Market News

According to Reuters, Binance restricted the personal accounts of a total of 281 Nigerian users. They added that the CEO of the Changpeng Zhao (CZ) exchange sent a letter to those customers telling them that the decision was made to ensure user safety, but also at the request of other exchanges, international law enforcement agencies.

A portion of the dormant BTC stolen in the 2016 Bitfinex exchange hack was moved from hackers’ wallets to unknown wallets out of a total of 20 transactions on Tuesday, according to blockchain analysis bot Whale Alerts. An amount of 64,641.29 BTC, worth nearly $2.5 billion at the time of writing, was moved. This is more than half of the stolen funds, which are estimated at 120,000 BTC.

Digital asset platform Amber Group has announced the acquisition of cryptocurrency exchange DeCurret by Amber Group subsidiary WhaleFin Japan. The transaction marks Amber Group’s entry into Japan following the acquisition of a Crypto Asset Exchange Service Provider (CAESP) registered with the Japan Financial Services Agency (FSA).

Crypto Market Highlights: Payment News

Solana (SOL) announced that it has launched a new payment protocol called Solana Pay that allows merchants to accept cryptocurrency payments directly from consumers. The protocol offers a specification that allows consumers to send stablecoins like USD coins (USDC) from their wallet directly to the merchant’s account and pay instantly for a one-cent fee, they said.

Global internet finance company Circle has announced the support of its USDC stablecoin on the Flow network, a blockchain platform created by Dapper Labs with an ecosystem of various NFT projects.

Online payment solution AstroPay has launched its cryptocurrency service. This option is currently available in select emerging markets and there are plans to roll it out further.

Crypto Market Highlights: News on new products and services

ConsenSys, the Ethereum (ETH) centralized blockchain company, has acquired the deeply rooted Ethereum interface MyCrypto in partnership with Web 3 MetaMask Wallet. MetaMask and MyCrypto will pool their efforts under a common banner with the aim of providing users with an improved, extensible and more secure experience, they added. “In the long term, we aspire to become the first unattended, open-source Ethereum product suite on any platform,” MyCrypto said.

Bitcoin company NYDIG has announced the launch of its Bitcoin Savings Plan — an employee benefits program that allows employees to convert a portion of their paycheck into Bitcoin (BTC). Employees choose the salary percentage they want to automatically convert to bitcoin.

Bloomberg reports that Russians own more than RUB 16.5 million ($214 billion) worth of cryptocurrencies, citing an estimate the Kremlin and government officials are using to formulate regulatory plans for the industry. The estimate was calculated last month by analyzing the IP addresses of the largest users of cryptocurrency exchanges, as well as other information.

Digital asset platform Bakkt has announced that Hanover Community Bank will participate in an early adoption program to connect to Bakkt’s crypto platform, which will provide the bank’s customers with proper access to Bitcoin and Ether the bank’s mobile banking app will offer. Bakkt’s cryptocurrency connectivity solution will be launched in Q2 2022, they added, and Hanover Bank’s participation is dependent on successful integration with the bank’s core processor.

Crypto Market Highlights: Stablecoin News

The Federal Reserve has released a new study on stablecoins, noting that dollar-pegged stablecoins have demonstrated “safety asset qualities” compared to other cryptocurrencies. However, a flight (or mass buyback of safe-haven assets) can seriously disrupt the market, which is why the authors recommend audit and liquidity requirements to mitigate the effects of a crash.

Crypto Market Highlights: Regulatory news

UNICEF, a United Nations agency that provides humanitarian and development assistance to children around the world, said that the mainstreaming of digital currencies is creating the need for redesigned safeguards to protect children. The charity also notes that cryptocurrencies can directly harm children by “facilitating unregulated transactions underlying child trafficking, sexual exploitation, buying and selling of content depicting child abuse, child fraud and child extortion.” .

Crypto Market Highlights: News CBDCs

Jamaica will launch its digital currency nationwide in the first quarter of this year to reduce transaction costs and offer financial services to unbanked citizens, reports Reuters, citing a central bank official.

Crypto Market Highlights: NFTs News

Gif Games, developer of the non-fungible token (NFT) game Tezotopia, announced a partnership with Web 3 identity solutions platform Talao to offer players a new experience. Talao’s Passport3 technology allows Tezotopia players to share the identity of their avatar or data while respecting their players’ privacy and proving they are students, VIPs, guests, current customers and over 18 without their data to reveal.

Crypto Market Highlights: Career News

Former World Economic Forum executive Sheila Warren will become CEO of the Cryptocurrency Council for Innovation (CCI) lobby group. During his time at the forum, Warren expanded the organization’s portfolio as leader of data, blockchain and digital assets and founder of forum Canopy and Blockchain for the distributed ledger technology platform.

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