Crypto-linked stocks plunge in Hong Kong, bitcoin steadies

HONG KONG/SINGAPORE (Reuters) -Cryptocurrency-linked stocks dropped in Hong Kong on Monday morning, after Chinese authorities intensified their crackdown on the industry, while major cryptocurrencies steadied.

Shares of crypto asset manager and trading firm Huobi Tech, an affiliate of Huobi Global, one of the world’s largest exchanges, fell more than 30% after the opening bell.

Huobi Global said on Sunday it had stopped taking new mainland customers https://www.reuters.com/world/china/cryptocurrency-exchange-huobi-clean-up-existing-mainland-clients-by-end-2021-2021-09-26 from Friday and would close accounts belonging to mainland-China based clients by the end of the year to comply with local regulations.

China’s regulators intensified a crackdown https://www.reuters.com/world/china/cryptocurrency-exchange-huobi-clean-up-existing-mainland-clients-by-end-2021-2021-09-26 on Friday, banning cryptocurrency transactions and mining, and saying that overseas exchanges are barred from providing services to mainland investors via the internet and that mainland-China based employees of overseas crypto exchanges would be investigated.

OKG Technology Holdings Ltd, a fintech and construction company majority owned by Xu Mingxing the founder of cryptoexchange OK Coin, fell more than 20%.

However, cryptocurrencies traded firmly on Monday, having rebounded from selling driven by the Chinese crackdown as buy-the-dip speculators swooped in.

Bitcoin was up about 2.4% in Asia trade at $44,250, having fallen to just below $41,000 in the wake of Friday’s announcement of a blanket ban on crypto mining and transactions in China – the most wide-ranging clampdown yet.

Rival token ether rose 3% to $3,163 and has recouped its Friday losses.

(Reporting by Tom Westbrook in Singapore and Alun John in Hong Kong; Editing by Muralikumar Anantharaman and Jacqueline Wong)

China’s regulators intensified a crackdown https://www.reuters.com/world/china/cryptocurrency-exchange-huobi-clean-up-existing-mainland-clients-by-end-2021-2021-09-26 on Friday, banning cryptocurrency transactions and mining, and saying that overseas exchanges are barred from providing services to mainland investors via the internet and that mainland-China based employees of overseas crypto exchanges would be investigated.

Source: https://finance.yahoo.com/news/cryptocurrencies-bounce-back-china-crackdown-010734988.html

More criminals turn to cryptocurrencies as haven to launder funds

Updated: 08/26/2021 04:40

more criminals turn to cryptocurrencies as haven to launder funds

Italian Police says more criminals have turned to crypto Dark web vendors made most sales in 2020 when crypto crimes surged Criminals prefer

Italian Police says more criminals have turned to crypto. Dark web vendors made most sales in 2020 when crypto crimes surged. Criminals prefer cryptocurrencies for its anonymity and hard to track feature.

The Italian Anti-Mafia Directorate (DIA), a department in the country’s Police force, has revealed that several mafia groups and criminal organizations turn to cryptocurrencies for their heinous crimes.

Anonymous sources that spoke in the DIA revealed that beyond the mafia, another criminal gang also have continued to show interest in cryptocurrencies for their business.

The report is corroborated by a published document that covers organized crime in Italy during the first six months of 2020, the most recent report by the police department.

In the report, Ndrangheta, said to be Italy’s most powerful criminal syndicate, continues to develop in its use of technologies like cryptos and the dark web.

DIA also noted that these syndicates use cryptos to anonymously pay for synthetic drugs like Ecstasy or LSD, which demand for it has surged amidst the COVID-19 pandemic. Also, it is not the first time cryptocurrencies and the dark web have been used to facilitate crime.

Vendors in the dark web reportedly made more money than ever before as a result of the pandemic.

Cryptocurrencies, crime, and the dark web
The three pair (Crypto, Crime, Dark Web) with how things are going seem inseparable. A report by chainalysis in 2020 revealed that vendors in the dark web were reducing. However, the traders there were making more money in the heat of the pandemic.

Revenue made in 2020 was more than 2019 totals. However, the overall number of purchases and potential buyers dropped significantly as prices of items skyrocketed in the market.

The increasing revenue was measured with cryptocurrencies that included Bitcoin, Bitcoin Cash, Litecoin, and Tether, validating claims by Italy’s Anti-Mafia Directorate.

Why crypto for crime?

In the wake of many online crimes, anonymous cryptocurrencies are the payment method of choice. The ability to hold cryptocurrencies without divulging your identity has made them increasingly attractive to criminals, particularly hackers who demand ransoms after breaking into companies.

Many criminals also have devised several means to perpetuate their crime with its anonymous feature. Criminals undertake what is known as “chain-hopping” jumping between different cryptocurrencies, often in rapid succession to lose trackers or use particular “privacy coin” cryptocurrencies that have extra anonymity built into them, such as Monero.

The difficult to track and anonymous nature of crypto primarily is why criminals turn to it as a safe haven to launder the proceeds of their crime.

Lella Prior Lella Prior
Lella Prior has been at HYIPNews for five years. She is an articulate, confident person who relishes challenges and working under pressure. Lella Prior has been taking much care about writing. The greatest strengths are the research, communication and writing skills Lella has. Thanks to the work at HYIPNews Lella Prior has an excellent opportunity to write good quality content.

Source: https://www.hyipnews.com/news/2021/08/26/more-criminals-turn-to-cryptocurrencies-as-haven-to-launder-funds/22303

Taiwan Stock Market Expected To Halt Its Slide

(RTTNews) – The Taiwan stock market has finished lower in back-to-back trading days, sinking almost 485 points or 3 percent along the way. The Taiwan Stock Exchange now rests just above the 16,340-point plateau although it’s due for support on Monday.

The global forecast for the Asian markets is positive, although upside from the technology stocks may be tempered by weakness from the oil companies. The European and U.S. markets were up and the Asian bourses are tipped to open in similar fashion.

The TSE finished modestly lower on Friday following losses from the financial and cement stocks and mixed performances from the technology shares.

For the day, the index dipped 33.46 points or 0.20 percent to finish at 16,341.94 after trading between 16,248.08 and 16,507.11.

Among the actives, Cathay Financial eased 0.19 percent, while Mega Financial collected 0.48 percent, CTBC Financial dropped 0.94 percent, Fubon Financial shed 0.65 percent, E Sun Financial fell 0.37 percent, Taiwan Semiconductor Manufacturing Company skidded 1.25 percent, United Microelectronics Corporation added 0.36 percent, Hon Hai Precision climbed 1.46 percent, Largan Precision rose 0.18 percent, Catcher Technology declined 1.14 percent, MediaTek retreated 1.69 percent, Delta Electronics tanked 2.23 percent, Formosa Plastic lost 0.93 percent, Asia Cement sank 0.81 percent, Taiwan Cement was down 0.11 percent and First Financial was unchanged.

The lead from Wall Street is solid as the major averages opened firmly higher on Friday and stayed that way throughout the session.

The Dow jumped 225.98 points or 0.65 percent to finish at 35.120.08, while the NASDAQ spiked 172.86 points or 1.19 percent to end at 14.714.66 and the S&P 500 climbed 35.87 points or 0.81 percent to close at 4,441.67. For the week, the Dow shed 1.1 percent, the NASDAQ slid 0.7 percent and the S&P fell 0.6 percent.

With the upward move, stocks regain grounded following the sharp pullback earlier in the week. The major averages fell to their lowest levels in almost a month on concerns about the outlook for monetary policy following the release of the minutes of the latest Federal Reserve meeting.

But technology stocks helped the markets to recover, particularly among software and biotech stocks.

Crude oil futures drifted lower Friday on worries about outlook for energy demand due to spikes in coronavirus cases and possible fresh restrictions in several countries. West Texas Intermediate Crude oil futures for September ended down $1.37 or 2.2 percent at $62.32 a barrel.

Closer to home, Taiwan will provide July numbers for unemployment, industrial production and retail sales later today. In June, the jobless rate was 4.76 percent, industrial production jumped 18.37 percent on year and retail sales tumbled an annual 13.3 percent.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Source: https://reinvestmentnews.com/taiwan-stock-market-expected-to-halt-its-slide/

AdvisorShares wants to launch a Bitcoin Futures ETF

advisorshares-wants-to-launch-a-bitcoin-futures-etf

Investment firms in the United States are now turning to Bitcoin futures ETF after the SEC says it could likely consider them for approval.

AdvisorShares files for a Bitcoin futures ETF with the SEC

Investment management firm AdvisorShares has filed with the United States Securities and Exchange Commission (SEC) to launch a Bitcoin futures ETF. The move comes as more firms in the US seek to offer institutional investors exposure to the cryptocurrency market.

AdvisorShares filed the ETF application with the SEC recently, seeking to gain indirect exposure to Bitcoin. Per the SEC filing, the AdvisorShares Managed Bitcoin ETF seeks to invest “all or substantially all of its assets in exchange-traded futures contracts on BTC. The investment firm pointed out that it wouldn’t invest directly in Bitcoin.

Furthermore, Morgan Creek Capital will occupy the role of the Fund’s sub-adviser, leveraging its research and other resources to help guide the ETFs investment strategies.

More investment firms file for Bitcoin futures ETF

Investment firms in the United States were previously applying to launch Bitcoin ETFs. These ETFs sought to directly track the performance of the leading cryptocurrency. However, the SEC chair, Gary Gensler, recently pointed out that the regulatory agency is open to approving ETFs that don’t directly invest in Bitcoin.

Since then, investment firms in the United States have been applying to launch Bitcoin futures ETFs. So far, firms such as Galaxy Digital and VanEck have applied with the SEC to launch Bitcoin futures ETFs.

Meanwhile, two firms, VanEck and ProShares, have withdrawn their applications for Ether futures ETFs a few days after filing them. According to a senior ETF analyst for Bloomberg, Eric Balchunas, the withdrawal of the applications could be because the regulatory agency spoke to both firms and told them they were unlikely to approve an ETF futures fund.

Source: https://www.financialnewsherald.com/2021/08/22/advisorshares-wants-to-launch-a-bitcoin-futures-etf/

Yankees Trade Luis Cessa, Justin Wilson to Reds; What it Means Ahead of Deadline

ST. PETERSBURG — The Trade Deadline is fast approaching and the Yankees are making changes to their bullpen.

New York dealt right-hander Luis Cessa and left-hander Justin Wilson to the Cincinnati Reds late Tuesday night in exchange for a player to be named later.

The trade was announced not too long after New York closed out a series-opening victory over the Rays at Tropicana Field, leaning heavily on their ‘pen in a close game over the final few innings.

Interestingly enough, Cessa and Wilson have been involved in a trade together before. The Yankees traded Wilson to the Detroit Tigers in the winter leading up to the 2016 season. In return, New York added Cessa and right-hander Chad Green, two hurlers that have been a constant presence in the Bombers’ pitching staff ever since.

Over six years with the Yankees, making his MLB debut in 2016, Cessa has posted a 4.17 ERA in 292 innings. Early on, the right-hander was making some starts, going through ups and downs as he began to develop at the big-league level. Once he was moved to the bullpen full-time in 2019, however, Cessa has blossomed in his role as a versatile reliever.

In the last two years alone, Cessa has pitched to the tune of a 3.00 ERA in 45 games, striking out 48 batters. In that span, he’s made 13 appearances of two-plus innings in relief.

Wilson, on the other hand, has been a disappointment in his second tour with the Yankees. The southpaw was signed this offseason to bolster the bullpen, but injuries and inconsistencies have turned him into more of a headache than a contributor.

The southpaw has permitted 15 earned runs to score in 18 innings this season (7.50 ERA), missing time due to two separate stints on the 10-day injured list.

This time of the year is hard to predict when it comes to transactions, but odds are Tuesday night’s move is a precursor to something else before Friday’s Deadline.

Trading these two relievers suddenly allows New York to open a pair of spots on the 40-man roster (possibly foreshadowing another move) while shedding some salary. Wilson is making $2.85 million this year—with a player option worth $2.3 million next season—while Cessa is due just over $1 million. Those financial implications give the Yankees a little more flexibility as they hover close to the luxury tax threshold.

Plus, acquiring Pirates reliever Clay Holmes earlier in the week provides the bullpen with another controllable right-handed reliever, filling in for Cessa going forward.

Surely more moves are on the way after this latest deal. The question is, how big will those trades be?

MORE:

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Source: https://www.si.com/mlb/yankees/news/new-york-yankees-trade-relievers-luis-cessa-justin-wilson-to-cincinnati-reds-ahead-of-trade-deadline

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UAE: What all should I weigh when investing in Bitcoin and other cryptocurrencies like Ethereum, Litecoin, Dogecoin?

200314 trading bitcoin Cryptocurrencies have been dubbed the “future of money” by some. A statement that financial industry executives have yet to verify but is fuelling several activities, news, and policies across the world. Image Credit: Shutterstock

Dubai: Cryptocurrencies have been dubbed the “future of money” by some. A statement that financial industry executives have yet to verify but is fuelling several activities, news, and policies across the world. There are about 4,000 cryptocurrencies around us, and not a week goes by without them dominating the headlines and our conversations.

Most of us wonder if we should invest in them or not and whether the investment will be a success or a failure. While many have begun allotting enormous sums of money in the belief that this new gold represents the future, others continue to view it as a prescription for catastrophe and nothing more than a gamble. Irrespectively, there is a rise in the number of individuals seeking to capitalise on the buzz and invest in cryptocurrencies without a thorough knowledge of their functioning.

Against this background, this article casts light on the critical factors that need to be considered while making this financial decision. Among these considerations are the cryptocurrencies’ supply structure, price volatility, lack of pattern, industry dynamics, and susceptibility to risks.

Market availability a crucial factor

To begin with, cryptocurrencies vary when it comes to their availability in the market. For instance, Bitcoin is intrinsically deflationary by nature and is by far the world’s largest cryptocurrency by market value, owing to its finite supply of 21 million coins only.

Why is Bitcoin deflationary?

Bitcoin is deflationary by design. The total supply of Bitcoin is restricted to 21 million coins by the protocol. As more and more people get interested with Bitcoin, the price rises to meet the demand since supply is constant.

As the adaption of Bitcoin spreads, demand drives the price up. Each Bitcoin therefore affords the owner more purchasing power. A Bitcoin purchased for Dh400 could purchase 20 meals at Dh20 each. Later, if that Bitcoin is worth Dh1300 and can purchase 65 meals at Dh20 each.

The fact that Bitcoin has a finite supply (21 million) assures that your purchasing power increases as long as demand is stable or expanding. US dollar and all fiat currencies (government-issued currency that is not backed by a commodity) purchasing power is eroded by the continual creation of new dollars by governments.

1.2288891-1385049977 Despite the varying options and availability, for years, Bitcoin has remained the go-to option for investors due to its increased demand and value.

Whereas other cryptocurrencies like Ethereum are with a constant flow, and Litecoin has a cap of 84 million coins, of which 75 percent is in circulation. Nonetheless, and despite the varying options and availability, for years, Bitcoin has remained the go-to option for investors due to its increased demand and value.

Cryptocurrencies are extremely volatile because of how unexpectedly their value can fluctuate. The good news is that as volatility increases, the potential to earn money rapidly also raises. The bad news is that increased volatility implies increased risk. Invariably, financial analysts consider the volatility an unsurprising feature of the cryptocurrencies, especially given that cryptocurrencies are still a relatively young market.

The innovative nature of the crypto industry considerably contributes to its volatility, with individuals frequently developing new cryptocurrencies and applications to progress the industry, thus affecting their pace of acceptance, or in other words, these currencies’ rate of adoption.

One clear example is Bitcoin’s price, which was reported that fluctuates daily on average by about 2.67 per cent. Bitcoin had dropped as much as 9.2 per cent to $31,667 (Dh116,316) on Sunday last week.

Volatility makes firms hesitant

Price volatility, in particular, is the reason for many corporations not opting to invest in cryptocurrencies, since they avoid reflecting volatile assets on their balance sheets, thus avoiding any fluctuations in the reported results. However, if investors want to make long-term commitments to cryptocurrencies, price volatility should not be an issue since these investments will be unaffected by price fluctuations.

Due to the volatile nature of the cryptocurrencies, its market exhibits an ambiguous pattern; in other words, no discernible trend can be observed. Certain cryptocurrencies are pushed up and down by irrational causes, such as a tweet from Elon Musk.

The majority of us are aware of Musk’s ability to move currencies such as Dogecoin and Bitcoin with a single tweet. One of these posts wiped $365.85 billion (Dh1.34 trillion) off the entire cryptocurrency market. Nonetheless, one peculiar pattern that everyone may agree on is that cryptocurrency collapses often occur on weekends.

1.1859841-165093853 The volatile character of the cryptocurrencies corresponds to the dynamic external variables, which influence their flow, adoption, and status as money or a commodity.

Regulatory interventions are pervasive

The volatile character of the cryptocurrencies corresponds to the dynamic external variables, which influence their flow, adoption, and status as money or a commodity. It is no secret that regulatory interventions are pervasive in this industry.

Whereat one end of the spectrum, a number of countries have enacted a series of protectionist policies in order to restrict the flow of these currencies, preserving their authority over their financial markets. On the other end of the spectrum are those who have explicitly allowed their use and trade.

A few weeks ago, China has banned financial institutions and payment firms from offering cryptocurrency transaction services and cautioned investors against speculative cryptocurrency trading, including registration, trading, clearing, and settlement. This affected Bitcoin values, causing them to plummet significantly. Beijing’s actions were hardly its first against the digital currency.

China closed its domestic cryptocurrency exchanges in 2017, suffocating a speculative sector that accounted for 90 per cent of global Bitcoin trade. On the contrary, El Salvador became the first nation to formally recognize Bitcoin as legal tender in the country, allowing it to be used for any eligible transaction.

Prone to cyber threats

Additionally, being in the digital realm exposes the crypto industry to a slew of risks, most notably cyber-attacks, making it very vulnerable to security breaches. According to Group IB, a Russia-based cybersecurity firm, the industry incurred a total loss of $882 million (Dh3.23 billion) in 2017 and the first three quarters of 2018 as a result of cyber-attacks directed at it. To date, there has been no particular strategy for dealing with or potentially preventing cryptocurrency-related crimes.

When making a crypto investment decision, one may wish to consider alternatives to the soring cryptocurrencies, particularly in light of the aforementioned factors. Beginning the investment process with a currency that is inexpensive yet popular with a large circulating supply may be a wise choice.

Bitcoin Investment in cryptocurrencies is a subjective one. Therefore, investing in them may be approached similarly to any other investment, which means thoroughly researching them and not putting all of one’s eggs in one basket.

Dogecoin still in infancy stage of growth

For example, Dogecoin has been around for seven years, and since it is still in its infancy, it has a lot of potential to grow owing to its rising popularity, which will ultimately result in a rise in its value.

Finally, investment in cryptocurrencies is a subjective one. Therefore, investing in them may be approached similarly to any other investment, which means thoroughly researching them and not putting all of one’s eggs in one basket. In other words, portfolio diversification and expenditure across different investment alternatives could also be considered.

In a nutshell, cryptocurrencies have taken over the headlines and our conversations, motivating many to invest a vast amount of money in the belief that this new gold represents the future without a thorough understanding of how they work and the critical factors that must be considered prior to making this decision.

Among these factors are cryptocurrencies’ supply structure, price volatility, industry dynamics, lack of pattern, and susceptibility to risks. Notwithstanding these considerations, investing in cryptocurrencies is a subjective choice that should be handled similarly to any other financial decision.

Jawaher S.

@Jawahersalem3

Dubai-based writer and an expert in international finance

Source: https://gulfnews.com/your-money/cryptocurrency/uae-what-all-should-i-weigh-when-investing-in-bitcoin-and-other-cryptocurrencies-like-ethereum-litecoin-dogecoin-1.1625410462086

Cryptocurrency Market Rising at 11.2% CAGR to Reach USD 1758 Million by 2027, Launch of New Cryptocurrencies to Augment the Market Growth

Top Players in the global Cryptocurrency Market are Microsoft Corporation, BitFury Group Limited, Advanced Micro Devices, Inc., Ripple Labs Inc., Intel Corporation, NVIDIA Corporation, Coinbase Ltd., AlphaPoint Corporation, Xilinx Inc., BitGo, and BTL Group Ltd

Pune, India, July 01, 2021 (GLOBE NEWSWIRE) — The worldwide cryptocurrency market size is anticipated to arrive at USD 1,758.0 million by 2027, displaying a CAGR of 11.2% during the estimated time frame. Cryptocurrency is a system of virtual currency exchange that is aimed to eliminate financial intermediaries. The developing tendency of people in created nations towards virtual cash trade strategies will immensely affect the market during the gauge time frame. The joining of blockchain innovation in cryptographic money for quick, secure, and compelling exchanges will reinforce sound development of the market in the impending years, referenced in a report, titled “Cryptocurrency Market Size, Share and COVID-19 Impact Analysis, By Component (Hardware, Software), By Type (Bitcoin, Ether, Litecoin, Ripple, Ether Classic, Others), By End-use (Trading, E-commerce and Retail, Peer-to-Peer Payment, and Remittance), and Regional Forecast, 2021 – 2027 ”, the market size stood at USD 754.0 million in 2021.

To get to know more about the short-term and long-term impact of COVID-19 on this market,

Please Visit: https://www.fortunebusinessinsights.com/industry-reports/cryptocurrency-market-100149

COVID-19 Impact:

Coronavirus has plummeted the growth of the financial market across the globe, including the cryptocurrency market. The level of stability in the digital currency landscape has considerably diminished. The market is attracting investments despite the uncertainty prevailing in the digital currency industry. Digital currencies like Ethereum, Bitcoin, etc., have witnessed inflation in prices despite the pandemic. Firms across several nations have paused their mining operations due to the pandemic. Some countries like Russia have delayed the deployment of cryptocurrency laws due to the pandemic.

Raging Coronavirus to Sway Market Potential

The outbreak of COVID-19 has negatively impacted the global economy. The regression in the stock market has directedly created concerns for the bitcoins. For instance, 12 March 2021, the price of Bitcoin fell below USD 4,000 after a sharp decline in the S&P Index in the U.S. The market crash has incited an increase in investment capital by blockchain companies to compensate for the losses. Giant blockchain analytics, Elliptic, Chainalysis, and CipherTrace declared that they have cut-price and reduced staffs or intend to do so in the immediate future to lessen the economic effects of the coronavirus pandemic. For instance, CipherTrace has decreased the jobs of the advertising and marketing departments. Whereas Elliptic has eliminated 30% of the workers in the U.S. and the U.K and Chainalysis has planned to reduce employees’ wages by 10% to mitigate the risks.

We are taking consistent endeavors to assist your business with supporting and develop during COVID-19 pandemics. In view of our experience and aptitude, we will offer you an effective investigation of Covid episodes across enterprises to assist you with setting up what’s to come.

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Segmentation:

Based on components, the market bifurcates into software and hardware. Based on type, the market is classified into Ether, Ether Classic, Bitcoin, Ripple, Litecoin, etc. On the basis of its end-user, the market segments into e-commerce and retail, remittance, trading, and peer-to-peer payment. Geographically, the market is categorized into North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.

Market Driver:

Rising Popularity of Digital Currency to Augment Growth

The rising pattern of cryptocurrency has prompted the acknowledgment of computerized coins like Bitcoins, Litecoins, Ethers, and the sky is the limit from there. The simple and adaptable conditional strategy offered by cryptographic money has encouraged the Central Bank Digital Currency (CBDC) movement arrangements across the world. For example, the Bank of Thailand and the Central Bank of Uruguay have applied for the tool stash to its CBDC assessment measure. The toolbox conveys a guide for the nations to gain ground rapidly and break down CBDC as a trade medium.

Moreover, the expanding interest in blockchain and cryptographic money by significant organizations will empower the rapid development of the market. For example, in October 2021, Qtum Chain Foundation, a publicly released blockchain application stage situated in Singapore reported an association with Amazon Web Services (AWS) China to convey blockchain frameworks on the AWS cloud. The organization will permit help AWS clients to utilize Amazon Machine Images (AMI) to create and distribute shrewd agreements effectively and productively.

Likewise, the presentation of exceptional advanced monetary standards by prominent organizations will impact the market decidedly soon. For example, in June 2021, Facebook, Inc. declared the dispatch of advanced money named Libra. Libra will empower clients to purchase things or send cash to other people and money out Libra on the web or at basic food item shops.

Regional Insights:

Existential Players to Promote Growth in North America

The market in North America remained at USD 250.9 million out of 2021 and is anticipated to multiply in the approaching years. The development in the district is credited to the rising fame of bitcoins in the US. The presence of major famous players will cultivate development in the locale during the conjecture time frame. The Asia Pacific is required to observe critical development during the figure time frame attributable to the innovative turns of events and acknowledgment of virtual money in Japan. The developing joint efforts among central members will fundamentally support the digital money market development in the Asia Pacific. For example, in January 2021, Z Corporation, Inc. also, TaoTao, Inc. declared a joint endeavor with the monetary help office to grow its essence by affirming administrative consistency in the Japanese market.

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Competitive Landscape:

Acquisitions and New Product Launches to Intensify Market Growth

The global market consists of several key players operating at regional and global levels. These giants focus on enhancing their platforms by acquisitions, partnerships, and expanding their digital infrastructures. For instance, Binance.com introduced the ‘binance cloud’ to offer digital asset exchange with security and liquidity in February 2019.

Industry Developments-

  • April 2020: Bitcoin.com announced a partnership with the Bit Mining company to expand its services across Japan.

  • November 2019: Binance.com acquired WazirX. The acquisition has enabled the adoption and production of new financial technologies to simplify access to cryptocurrency.

Key Players in the Global Cryptocurrency Market are:

  • BitGo Inc. (U.S.)

  • Binance, com (Malta)

  • Bitfury Group Limited (The Netherlands)

  • Coinbase (U.S.)

  • Coindesk.com (U.S.)

  • Intel Corporation (U.S.)

  • Ripple Labs Inc. (U.S.)

  • Xilinx (U.S.)

  • Bitmain Technologies Ltd. (Saint Bitts LLC) (China)

Quick Buy- Cryptocurrency Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/100149

Major Table of Contents:

  • Introduction

    • Definition, By Segment

    • Research Approach

    • Sources

  • Executive Summary

  • Market Dynamics

    • Drivers, Restraints, and Opportunities

    • Emerging Trends

  • Key Insights

    • Macro and Micro Economic Indicators

    • Consolidated SWOT Analysis of Key Players

    • COVID-19 Impact Analysis

  • Global Cryptocurrency Market Analysis, Insights and Forecast, 2016 – 2027

    • Key Findings / Summary

    • Market Size Estimates and Forecasts

      • By Component (Value)

        • Hardware

          • FPGA

          • ASIC

          • GPU

          • Others (Paper Wallet, Web Wallet, etc.)

        • Software

          • Mining Software

          • Exchanges Software

          • Wallet

          • Payment

          • Others (Vaults, Encryption, etc.)

      • By Type (Value)

        • Bitcoin

        • Ether

        • Litecoin

        • Ripple

        • Ether Classic

        • Others (Dogecoin, Moneor, Dash, etc.)

      • By End-use (Value)

        • Trading

        • E-commerce and Retail

        • Peer-to-Peer Payment

        • Remittance

      • By Region (Value)

        • North America

        • Europe

        • Asia Pacific

        • Middle East and Africa

        • Latin America

TOC Continued…!

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Have a Look at Related Research Insights:

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Source: https://finance.yahoo.com/news/cryptocurrency-market-rising-11-2-043800842.html

Financial Advisor Survey: 26% Plan to Recommend Cryptocurrencies Over Next 12 Months – Bitcoin News

Financial Advisor Survey: 26% Plan to Recommend Cryptocurrencies Over Next 12 Months

A recent survey of financial advisors and their investing strategies shows “a significant shift to embracing cryptocurrencies.” More than 26% indicated that they plan to increase their recommendation of cryptocurrencies over the next 12 months. Furthermore, 49% of advisers said that clients have asked them about investing in cryptocurrencies in the last six months.

Financial Advisors Show Significant Shift to Embracing Cryptocurrencies

The 2021 Trends in Investing Survey, conducted by the Journal of Financial Planning and the Financial Planning Association (FPA), and supported by Onramp Invest, was released earlier this month.

The Financial Planning Association is the principal membership organization for certified financial planners, professionals, educators, and financial services professionals. Onramp Invest is a technology company providing access to crypto assets for registered investment advisors.

The survey received 529 responses from financial advisers of various backgrounds and business models. It found:

Advisers show a significant shift to embracing cryptocurrencies.

Cryptocurrencies were first added to the survey in 2018 when 1.4% of advisers indicated they were currently using or recommending them to clients. That percentage dropped to below 1% in both 2019 and 2020 but increased to 14% in 2021.

According to the survey results:

More than a quarter (26%) of advisers indicated in the 2021 survey that they plan to increase their use/recommendation of cryptocurrencies over the next 12 months. And 49% of advisers indicated that, in the last six months, clients have asked them about investing in cryptocurrencies, up from 17% in 2020.

Onramp Invest CEO Tyrone Ross commented: “It is clear from these results that we’ve reached an inflection point in the wealth management space. Advisers are now faced with a client base that demands knowledge, access, and advice from their adviser on cryptoassets.”

What do you think about this survey? Let us know in the comments section below.

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The survey received 529 responses from financial advisers of various backgrounds and business models. It found:

Source: https://news.bitcoin.com/financial-advisor-survey-26-plan-to-recommend-cryptocurrencies/