DeFi growth and potential Grayscale YFI security push Yearn.finance to $45.9K

In the early hours of Feb. 11 Yearn.finance (YFI) experienced a high volume spike which pushed the price to a new all-time high at $45,900.  Data from Cointelegraph Markets and TradingView shows that YFI hit a swing low at $33,638 on Feb.10 before experiencing a 26% breakout of 26%. The move appeared to be motivated by a corporate registration filing with the State of Delaware which showed Grayscale Investments registering the LLC for a Yearn finance trust similar to its Bitcoin and Ethereum products. A range of new partnership announcements…

4 top universities submit CBDC designs to the Bank of Canada

Major Canadian universities have submitted new research to the Bank of Canada centered around the development of a central bank digital currency, or CBDC, underscoring the innovation underway in this space. The research began last year after the BoC engaged four institutions around potential designs for a national cryptocurrency. A total of three proposals were published simultaneously on Thursday. Notably, each proposal was based on the application of blockchain technology. The submission from the University of Calgary leverages “a mix of distributed ledger technologies (DLTs) and electronic cash (“e-cash”) schemes with…

Qtum, Status (SNT) and Iota (MIOTA) rally after breaking multi-year downtrend

Shortly after Tesla announced that it will allow customers to buy products with Bitcoin (BTC), a curious job posting from Amazon suggests that the company could also be working on a platform that will allow customers in Mexico to use digital currencies for making payments. If Amazon jumps on the crypto bandwagon, it will immensely strengthen the possibility of cryptocurrencies going mainstream across the world. Crypto market data daily view. Source: Coin360 Today Bitcoin price is showing a new spark of optimism after the Bank of New York Mellon announced…

Bitcoin Just Set a New All-Time High—Here Are What Analysts Are Saying

Bitcoin just set a new all-time high at $48,600 on top exchanges just days after setting its previous high of $48,300 on Coinbase. The cryptocurrency is up 8% in the past 24 hours, outperforming the stock market, though Bitcoin is underperforming some of its stock market peers. The rally comes as Tesla has confirmed that it owns over $1.5 billion worth of Bitcoin to help hedge its balance sheet and to provide liquidity for its upcoming plan to accept BTC for payments of vehicles. Related Reading: Wall Street Veteran Kickstarts…

It’s “Only Up” Season for Bitcoin as BNY Melon News Sends BTC to New Highs

Bitcoin has been caught in one of the strong uptrends seen since its parabolic rally first began in late-2020 The cryptocurrency has been seeing tremendous growth as of late that has come about primarily as a result of multiple signs of mainstream adoption Examples of this include Tesla’s decision to add $1.5b worth of BTC to their balance sheets, as well as the auto company enabling BTC payments for their vehicles Today, the Bank of New York Mellon also announced intentions to begin adding some support for Bitcoin custody This…

Grayscale is tentatively looking to offer YFI

Grayscale Investments has registered an LLC for a prospective Yearn Finance (YFI) Trust, giving the first sign that the asset manager is considering the DeFi coin.  The new YFI entity was incorporated as a Statutory Trust in Delaware on Feb. 10, 2021. Grayscale now has 33 registered trusts in the state, though only nine are active, based on the fund manager’s AUM reports. This includes the industry-leading Bitcoin Trust, which has nearly $30 billion in assets.  Grayscale has also formed LLCs for Polkadot, Uniswap, Theta and Cardano, among many others. Registering…

PayPal expanding crypto services to U.K. residents

Residents of the United Kingdom will be the first people outside of the U.S. who are able to use PayPal for buying and selling crypto.  According to journalist Carl Quintanilla, the payments platform is planning to expand its crypto offerings to the U.K. in the coming months. PayPal also plans to make crypto available for Venmo wallet holders before the end of Q2 2021. Other non-crypto services include expanding Venmo internationally before 2026 and a broader rollout of the app’s credit cards. * PAYPAL WILL ADD CRYPTO TO VENMO WALLETS…

Federal attorneys are investigating meme-led trading in GME, AMC and silver: WSJ

The Department of Justice is reportedly the latest to turn up the heat on last month’s crazed markets. Citing unnamed sources, the Wall Street Journal reported on Thursday that the DoJ’s fraud division and the San Francisco district attorney’s office had launched probes into the brokers (read: Robinhood) and social-media platforms (read: Reddit) who were at the center of wild bull markets on stocks like GameStop and AMC weeks ago.  A number of agencies have announced that they are looking into market manipulation concerns. The Securities and Exchange Commission released a cryptic…

Pundi X (NPXS) gains 102% ahead of testnet launch and token burn

Since Feb. 6 Pundi X (NPXS) has rallied by 102%. While it would be easy to assume that it’s breakout is simply following in the hoof prints of the herd of altcoins that have been rallying alongside Bitcoin, the current move appears to be driven by an upcoming testnet launch and improving fundamentals.  Pundi X is a borderless digital currency payment ecosystem that aims to boost adoption using Point-of-Sale (POS) terminals and a contactless payment card. Using an open-source system, the platform focuses on physical stores retail payments. Streamlined mobile…

Powers On… The battle for digital asset supremacy and the consequences of U.S. capitulation

Powers On… is a new monthly opinion column from Marc Powers, who spent much of his 40-year legal career working with complex securities-related cases in the United States after a stint with the SEC. He is now an Adjunct Professor at Florida International University School of Law, where he teaches a course on ‘Blockchain, Crypto and Regulatory Considerations.’ Dear Readers: Here is my first opinion piece for Cointelegraph since my retirement a month ago from law firm practice (and prior to that, the SEC) after a 40 year career. It…