IMF Calls Growing Correlation Between Crypto and Financial Markets a Concern

IMF Calls Growing Correlation Between Crypto and Financial Markets a Concern

A recent IMF report states that the crypto market is showing an increased correlation with stock markets. It calls this trend a threat that could have effects on global financial markets. The International Monetary Fund (IMF) has published a post saying that crypto prices have begun to move more in sync with stock markets. The post, published…

Iran’s Central Bank, Ministry of Industry to Allow Crypto Payments for Foreign Trade Settlements

Iran’s Central Bank, Ministry of Industry to Allow Crypto Payments for Foreign Trade Settlements

A mechanism will reportedly be put in place enabling local merchants to settle payments with international partners through the use of crypto. Iran’s central bank and the country’s Ministry of Industry, Mine and Trade have agreed to a deal that will enable local merchants to begin using cryptocurrencies for foreign trade settlements, according to local…

A third of Americans to buy Bitcoin by end of 2022, says Ric Edelman

A third of Americans to buy Bitcoin by end of 2022, says Ric Edelman

The future’s bright for Bitcoin according to Ric Edelman, founder of financial advisory outfit Edelman Financial Engines. Bitcoin (BTC) bull and Edelman Financial Engines founder Ric Edelman has made some promising predictions about the future of the seminal cryptocurrency. In an interview on CNBC program ETF Edge on Monday, Edelman said: “We’re already at a quarter of…

Square CEO Jack Dorsey announces to provide legal defense to bitcoin developers.

Square CEO Jack Dorsey announces to provide legal defense to bitcoin developers.

Jack Dorsey, the former CEO of Twitter and prominent bitcoin bull, has announced another initiative to support BTC developments. Square CEO Jack Dorsey continues to work on new bitcoin-related endeavors by launching a new fund to provide legal defense for BTC developers. Called “Bitcoin Legal Defense Fund,” its first activity will be to assist in…

Most Crypto Users Believe Cryptocurrency Payments Will Become a Standard, Paysafe Study Reveals

Most Crypto Users Believe Cryptocurrency Payments Will Become a Standard, Paysafe Study Reveals

60% of cryptocurrency enthusiasts believe tokens will be widely accepted in eCommerce. 54% think they will overtake the financial system as we know it. The use of cryptocurrencies has grown considerably over the past year, as more people fall down the Bitcoin rabbit hole. According to a study by payment processor PaySafe, most cryptocurrency enthusiasts…

Binance Becomes Exclusive Cryptocurrency Sponsor of African Cup of Nations

Binance Becomes Exclusive Cryptocurrency Sponsor of African Cup of Nations

Binance inked a deal with the Confederation of African Football (CAF) to become the exclusive crypto sponsor of the AFCON tournament. The world’s largest digital asset trading venue – Binance – announced it partnered with the Confederation of African Football (CAF). As a result, the company became the official cryptocurrency and blockchain sponsor of the…

Crypto funds outperformed traditional hedge funds and digital asset benchmarks

Crypto funds outperformed traditional hedge funds and digital asset benchmarks

In aggregate, hedge funds delivered returns in 2021 that lagged behind the broader market. Crypto funds held up better, according to data from HFR. A big rally in stocks over the course of 2021 did not translate into outsized returns at some of the world’s largest hedge funds. But their crypto counterparts were able to…

India’s central bank is setting up a fintech department to keep up with crypto

India’s central bank is setting up a fintech department to keep up with crypto

The Reserve Bank of India (RBI) has created a new department to identify challenges and opportunities in financial technology, particularly around cryptocurrency. The new fintech department has been operational since Jan. 4, the central bank said. Indian tax authorities are already going after cryptocurrency exchanges for alleged tax evasion, despite a lack of clarity on crypto…

$8 Billion German Internet-Banking Giant N26 to Launch Crypto Operations This Year

$8 Billion German Internet-Banking Giant N26 to Launch Crypto Operations This Year

One of the largest online banks in Germany reconsiders its expansion plans and strategy, plans on focusing on cryptocurrency trading. One of the founders of German online bank giant N26 has recently told FT about the company’s mistakes amid active expansion and noted that the financial institution should have focused on cryptocurrency while the market was blossoming. After almost…