The Silicon Valley venture capital firm Andreessen Horowitz (a16z) released a report on Tuesday covering the current state of crypto adoption. It highlights Ethereum as the leading blockchain network for developer support but contains very little mention of Bitcoin’s growth. The Potential of Web 3 The VC firm broke boiled down its report into five key takeaways about the current state of crypto. It began by suggesting that the industry is in the middle of its fourth ‘price innovation’ cycle.…
Tag: Banks
Former Goldman Sachs CEO Acknowledges That Crypto Is “Happening”
Though Bitcoin has been at its most oversold point since March 2020, long-term investors haven’t taken their eyes off the ball. Ex-Goldman Sachs CEO Lloyd Blankfein believes the crypto industry is “happening”, having matured significantly in 2021. As a result, he suggested that now could be a great time to invest, much like other devotees buying this week’s dip. A Rapidly Growing Ecosystem Blankfein aired his thoughts on the industry in an interview with CNBC’s Andrew Sorkin on Monday. Sorkin…
4 months ago 
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Idaho’s Largest Credit Union Launches Bitcoin Trading
Though Bitcoin remains in a price slump since last week’s crash, institutional adoption still looks bullish for long-term holders. Most recently, Idaho Central Credit Union (ICCU) partnered with NYDIG and Alkami Technology to implement Bitcoin buying and selling services. ICCU is rapidly growing, with 480 000 members in 44 locations across the state. Another Credit Union Adopts Bitcoin Alkami Technology – the involved cloud-based digital banking services provider – announced the news on Wednesday. The company provides banking companies with…
5 months ago 283
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Banks Are Showing a Growing Interest in Bitcoin Says Elliptic Co-Founder
Bitcoin has recently received more than usual attention from several traditional financial institutions, as it has managed to set yet another all-time high, breaking the confines of $50,000. According to a report by The Telegraph on Wednesday, Tom Robinson, the co-founder of Elliptic, the world's leading cryptocurrency compliance company, said that his company had witnessed a rapidly growing interest in global banks requesting access to the compliance risk of offering bitcoin services. A Wave Of Demand For Bitcoin He said…
1 year ago 180
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Visa Set To Launch Crypto API For Banks To Offer Crypto Services
Payment processing giant Visa has announced that it is working on a crypto API program that will enable banks to offer cryptocurrency services. This was revealed in a press release on Wednesday and could herald a new era for the payment company. Major Step Towards Crypto Integration Visa has partnered with First Boulevard, a Kansas-based digital bank, to pilot the crypto API program. Bitcoin and crypto custodian Anchorage will hold the bitcoin and cryptocurrencies on behalf of Visa clients. The…
1 year ago 265
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Mobile Fintech and Bitcoin Can Eliminate Trips to Local Bank Branch, Says Jack Dorsey
The chief executive of payments company Square and social networking platform Twitter, Jack Dorsey, is mapping out how smartphone features continue to pressure bank branches. The growth of fintech and the expansion of the cryptocurrency space will keep accelerating the digital world of moving money with more onramps, options, integrations and ease of use. This is why the future of local bank branches is questionable and financial professionals are showing concern and suggesting solutions. Dorsey spoke at the 48th Annual…
2 years ago 161
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Tension on Whether Bank-Issued Cryptos will Overtake Bitcoin and Altcoins Crowds
The cryptocurrency domain is fearful about bank-issued cryptos replacing Bitcoin as well as altcoins. Nevertheless, to ascertain the validity of the fear, it is necessary to consider some facts. First, bank-issued cryptocurrencies will be in charge of those who receive the cryptocurrency units and their purpose. On the other hand, Bitcoin is a decentralized currency. Bitcoin holders can determine its purpose and enable its use for the payment of goods and services, forwarded to people through remittance platforms, or one…
2 years ago 168
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Breakdown of Money Laundering in Traditional Banking and Digital Currency
Laundering money through traditional banking systems has become a common practice over the years. A report released by the United Nations office on drugs and crime gives an account of unlawful bank transactions valued in trillions being carried out through the networks of traditional banks in a year. However, when it comes to Bitcoin, there is a general belief that it is the preferred platform for criminals and con artists to carry out illicit transactions. Even so, the number…
2 years ago 255
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CipherTrace’s Crypto Risk Intelligence To Help Track Illicit Crypto Transactions
On 16 December, CipherTrace noted that major banks could be processing a maximum of 2 billion dollars in crypto-related transfers in its press release. However, these yearly earnings are never detected. CipherTrace is a blockchain intelligence company, and according to it, about ten major commercial banks in the US have unregistered crypto businesses; that use their payment networks in processing funds. The press release also pointed out that these unregistered crypto money service businesses (MSBs) are entities like cryptocurrency exchanges.…
2 years ago 159
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Bitcoin’s Finite Supply May Limit Its Growth, Says Changpeng Zhao
Towards the end of the year, the CEO of Binance, Changpeng Zao, pointed out in a tweet that Bitcoin’s price potential is limitless. Bitcoin is one of the mainstream cryptocurrencies worldwide. Changpeng Zhao is of the opinion that the finite supply of Bitcoin dramatically contributes to its erratic nominal price. Changpeng also believes that Bitcoin has infinite potential over fiat currencies. The only thing limiting bitcoin is its limited supply. https://twitter.com/cz_binance/status/1206416065095299073 Bitcoin’s Volatility There’s no assured prediction of Bitcoin prices.…
2 years ago 209
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