Band, Loopring (LRC) and Cream secure a slice of DeFi with new partnerships

The U.S. dollar lost about 7% of its value in 2020, while Bitcoin rallied about 300% during the same period. As Bitcoin’s institutional adoption increases, United States companies may start to diversify their treasury with other stores of value, and Bitcoin (BTC) stands a good chance to garner a portion of it. Crypto market data daily view. Source: Coin360 Ark Invest’s latest report, “Bitcoin: Preparing for Institutions,” shows that even a paltry allocation of 1% by companies from the S&P 500 could boost Bitcoin’s price by $40,000. However, analysts at Ar…

Crypto-curious Andy Jassy to become new Amazon CEO

Amazon has announced today that founder and CEO Jeff Bezos is planning to step down as CEO, and Amazon Web Services CEO Andy Jassy — who oversaw Amazon’s crypto product offerings — will replace him.  In his letter to employees, Bezos said that he would be transitioning to the role of executive chair of the Amazon board, where he would “focus my energies and attention on new products and early initiatives.” The transition is scheduled for later in the year. Bezos also noted that Jassy “will be an outstanding leader,…

‘Buy crypto’ Google searches hit record high: The Tie

“Buy crypto” searches on Google surged to all-time highs in January, far exceeding the previous peak of early 2018, according to cryptocurrency analytics company The Tie. Relative search interest for the term “Buy Crypto” is at all-time high on Google Trends pic.twitter.com/4cFIkI0xbp — The TIE (@TheTIEIO) February 1, 2021 The keyword received a perfect Google Trends score of 100, which indicates maximum relative interest. A similar spike was also observed for Ethereum, which achieved a perfect score of 100 before falling back down to a still-strong 65. Bitcoin (BTC) searches…

Square’s Cash App briefly halts buying AMC and Nokia stock

Cash App, the Bitcoin-friendly mobile payments app from U.S. financial services firm Square, restricted buys of some of the stocks connected to the Wall Street shorts for more than four hours today. According to an announcement from Cash App, its clearing broker, Axos, halted the app’s ability to complete purchases of stocks for GameStop, AMC Entertainment, Nokia and Koss Corporation — at least four of the stocks pushed by retail investors on the r/Wallstreetbets subreddit in their fight against hedge funds’ shorts. However, the app later tweeted that the broker…

Interoperability will determine CBDC winners and losers

China has opened testing for its digital yuan. The excitement surrounding this project has electrified several major Chinese cities, as well as onlookers throughout the world. Most recently, Shenzhen launched its “iShenzhen” lottery, wherein the city government will distribute 20 million digital yuan among 100,000 central bank digital currency, or CBDC, wallet holders. This comes on the back of a similar lottery held in the city of Suzhou, one of China’s major “special economic zones.” Suzhou has already engaged with several blockchain projects in an effort to deepen the municipality’s…

Following Balancer V2 protocol announcement, yield farming still in development

Automated market maker (AMM) Balancer announced today a widely-anticipated V2 of their decentralized exchange protocol, featuring a host of upgrades centered on “security, flexibility, capital efficiency and gas efficiency”  — but yield farmers are left wondering about the all-important liquidity mining details, which are still in development. “The main architectural change between Balancer V1 and Balancer V2 is the transition to a single vault that holds and manages all the assets added by all Balancer pools,” wrote Balancer co-founder and CEO Fernando Martinelli in a blog post. This architecture will…

Led by Uniswap, decentralized exchange volumes soared above $50B in January

Decentralized finance (DeFi) has emerged as one of the driving forces of crypto sector growth, and it is also establishing itself as an integral component driving widespread adoption of cryptocurrencies.  A recent report from Delphi Digital points out that there has been a 440% increase in “the circulating market cap of leading DEX protocols over the past 30 days,” which has also led to “the trading volume they facilitate to rise along with them.” Circulating market cap of DEX protocols. Source: Delphi Digital DEX volume in January 2020 set a…

Ethereum price hits a $1,500 all-time high as ETH options and DeFi heat up

The price of Ether (ETH), the native cryptocurrency of the Ethereum blockchain network, achieved a new all-time high at $1,500 today. Data suggest that the ETH options market showed dominant call activity and this may be a primary factor in the rally to a new high. Across major exchanges, the price of ETH surpassed $1,500, after the options market showed dominant call activity. In the options market, there are two types of contracts: puts and calls. Puts are sell orders and calls are buy orders. When there are more calls…

Stellar becomes new home of USDC as integration goes live

The Stellar Development Foundation announced Tuesday that an anticipated integration with USD Coin (USDC) is live. Users can now transact with USDC on the Stellar blockchain. The integration with the second-largest stablecoin was initially announced in October 2020, as Cointelegraph reported at the time. The stablecoin has since doubled its total supply to approach $6 billion, up from $2.7 billion in October 2020.  USDC is primarily used on Ethereum, where almost the entirety of its supply is found. Algorand was the second blockchain to host USDC, but it has seen slow…

Crypto industry must keep scammers from stealing another $16 billion

Unsuspecting investors have lost $16 billion by buying into crypto projects they thought would be the next best thing. And that money is nearly impossible to recover. As the crypto industry established itself as a disruptor of currency and technology and as Bitcoin (BTC) began to gain traction in 2017, scammers took advantage of naïve investors interested in getting involved.  Related: Crypto Crimes Rated: From the Twitter Hackers to Not Your Keyser, Not Your Coins Spotting the scams The crypto startup market is growing and expanding every day. There are…