Polychain’s Olaf Carlson-Wee breaks down the maturation of the DEX market

Decentralized exchanges have been growing at breakneck speed, with volume surging to nearly $40 billion for January 2021 — the highest level ever reported. Just a year ago, DEX-based trading was almost non-existent, data from The Block indicates. In January 2020, a mere $600 million traded across DEXs. And DEX projects that raised tens of […]

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Yellen: US government should consider benefits of cryptocurrencies and digital assets

Treasury Secretary nominee Janet Yellen, who previously headed up the U.S. Federal Reserve, said in written testimony on Thursday that cryptocurrencies and digital assets have the potential to “improve the efficiency of the financial system.” As she noted in her written remarks: “Bitcoin and other digital and cryptocurrencies are providing financial transactions around the globe. Like […]

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Privacy-focused Brave becomes first browser to support IPFS

Privacy-focused browser Brave has added support for the peer-to-peer network and protocol InterPlanetary File System (IPFS), the team behind the browser announced Tuesday.  According to the announcement, the collaboration will allow Brave’s 24 million monthly users to access content directly from IPFS by resolving ipfs:// URLs via a gateway or by quickly installing a full […]

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Offline mapping app Maps.me raises $50m in seed round led by Alameda Research

Maps.me, an offline mapping app that boasts 140 million users worldwide, has raised $50 million in a seed funding round led by Alameda Research in an effort to build a decentralized finance ecosystem inside the map app. Other investors including Genesis Trading and CMS Holdings also participated in the round, according to an announcement from […]

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Kraken to halt XRP trading for U.S. users starting Jan. 29

Kraken is moving to halt XRP trading for U.S. users in light of the Securities and Exchange Commission’s (SEC) lawsuit against Ripple. U.S. based Kraken users will be unable to trade XRP from Jan. 29 at 5 p.m. PT, according to a statement published Friday by the exchange. Those with spot positions on margin must […]

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While bitcoin was cratering over the weekend, institutions were buying

Bitcoin is recouping losses clocked in over the weekend, which isn’t a surprise to market participants servicing institutional investors. At last check, bitcoin was trading up more than 9% at more than $37,000. That’s a far cry from the levels over the weekend, when a wave of liquidations across off-shore trading venues sent the market […]

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Bitcoin hit ‘bubble territory’ after $20,000, says billionaire Jeffrey Gundlach

DoubleLine Capital’s CEO and co-founder Jeffrey “Bond King” Gundlach said Bitcoin has been in “bubble territory” ever since it broke $20,000.   “Bitcoin, to me, is now in bubble territory based on how it’s been acting. The people that point out that it has a terrific supply-demand dynamic if indeed institutions get involved, they’re right about […]

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DeFi project offers new way to trade the entire $1 trillion crypto market

A decentralized finance (DeFi) project is gearing up to debut a token that aims to allow users to capture the value of the entire $1 trillion cryptocurrency market.  Led by Ethereum 2.0 developer and Prysmatic Labs founder Preston Van Loon and Joe Sticco, Cryptex is set to launch the mainnet of its token TCAP this […]

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Intercontinental Exchange crypto venture Bakkt nears SPAC deal: report

Digital asset firm Bakkt is looking to tap into the public markets through a SPAC deal, according to a Bloomberg report.  Bakkt, a venture by Intercontinental Exchange, is in advanced stage talks to go public through a merger with blank-check firm VPC Impact Acquisition Holdings, according to Bloomberg’s sources. The transaction, which could be announced […]

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The UK’s ban on crypto derivatives is set to go into effect on Wednesday

A ban on the sale of crypto derivatives and exchange-traded notes (ETNs) is set to come into force in the U.K. on Wednesday, January 6. Announced by the Financial Conduct Authority in October after a long and heated period of consultation, the ban forbids the sale, marketing and distribution of CFDs, options, futures and ETNs […]

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