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Investors Shorting BTC, ETH in Record Numbers – Top Crypto Updates

Antalya, Turkey - May 21, 2021: Close up shot of Bitcoin and alt coins cryptocurrency

Investors are shorting BTC, ETH in record numbers: Report

According to a report from CoinShares, a large number of institutional investors are betting on the price of Bitcoin, Ethereum, and other cryptos to go down. Institutional investor sentiment was deeply negative last week, as short product inflows represented 75% of the total inflows— the largest inflow on record. [Short products allow investors to bet on the price of an asset going down.]

Crypto prices today: Bitcoin down 2.5%, ETH falls 3.5%

Bitcoin is currently trading at $15,721.15, a decline of 2.5% over the previous day. Ethereum fell 3.5% over the last 24 hours to $1,090.11. Solana is down 2.9% to $11.46, while Cardano is trading lower by 1.35% at $0.302. Avalanche (AVAX) fell 3% to $11.61. The global crypto market cap stands at $780.37 billion, a 2.48% decline over the previous day.

Genesis Trading warns of possible bankruptcy: Report

According to a Bloomberg report, crypto firm Genesis Trading has warned that it may be facing bankruptcy. The company’s lending arm suspended services last week and failed to raise funds. Due to the collapse of FTX, the company was facing “abnormal withdrawal requests” and requested for a $1 billion bailout last week.

Lawmakers urge Fidelity to drop Bitcoin Retirement Plan

U.S. Senators sent a letter to investment giant Fidelity Investments, warning it against offering Bitcoin to customers following the collapse of FTX. Fidelity is America’s largest provider of 401(k) savings accounts. [A 401(k) plan is an employer-sponsored personal pension account.] In April, the firm launched a new product offering companies and their participating employees access to Bitcoin. 

Bitget registers in Seychelles, eyes global expansion

Singapore-based crypto derivatives exchange Bitget has registered in Seychelles as it looks to expand its services. The company plans to set up more regional hubs on its expansion roadmap. Last week, the exchange started operations in Brazil and will allow users to make crypto purchases in Brazilian reals.

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Twitter to Allow Users to Buy and Sell NFTs – Top Crypto Updates

Twitter to allow users to buy and sell NFTs

Social media platform Twitter will allow users to buy, sell, and display non-fungible tokens (NFTs) directly through tweets in partnership with four marketplaces. The integration, called NFT Tweet Tiles, displays the artwork of an NFT in a dedicated panel within a tweet. The feature is currently being tested with select Twitter users across iOS and web.

Crypto prices today: Bitcoin falls 2.5%, ETH down 3.6%

Bitcoin is currently trading at $20,212.53, a decline of 2.52% over the previous day. Ethereum fell 3.59% over the last 24 hours to $1,500.94. Solana is down 4.33% to $30.39, while Cardano is trading lower by 6.12% at $0.384. Avalanche (AVAX) fell 1.35% to $17.02. The global crypto market cap stands at $982.26 billion, a 2.3% decline over the previous day.

Teleport creators raise $9M to build decentralized ridesharing service

Decentralized Engineering Corp (DEC), the maker of The Rideshare Protocol (TRIP), has raised $9 million in seed funding. TRIP is designed to power ridesharing apps from a variety of future companies. These firms will share the same core technology to connect drivers with riders, and DEC is building Teleport as the first application to prove out the framework.

Institutions are still bullish on crypto: Fidelity

In a report, investment giant Fidelity revealed that 58% of institutional investors were invested in digital assets in the first half of 2022, up 6% YoY. Around 74% of institutions said they are planning to buy digital assets in the future, while 51% have a positive perception of digital assets— up from 45% in 2021. Fidelity’s survey included 1,052 institutional investors spread across the U.S., Europe, and Asia. 

Google launches blockchain node engine for Web3 developers

Tech-giant Google is launching an in-house Blockchain Node Engine (BNE) based on Google Cloud. As a node-hosting service, BNE enables Web3 companies to relay transactions, deploy smart contracts, and read or write blockchain data directly on Google Cloud. The first blockchain supported by BNE is Ethereum. BNE will also have its own developer team on-call to monitor for potential outages.

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Nubank to Launch its Own Crypto in Brazil – Top Crypto Updates

Nubank to launch its own crypto in Brazil

Brazilian digital banking startup Nubank will launch its own crypto in the country next year, marking the latest move into digital assets by a large financial institution. The Warren Buffet-backed firm said the new token (called Nucoin) will act as a way to recognize customer loyalty and encourage engagement with Nubank products. It also plans to offer discounts and other perks to holders of the token.

Crypto prices today: Bitcoin, ETH down 0.6%

Bitcoin is currently trading at $19,039.27, a decline of 0.6% over the previous day. Ethereum is down 0.57% over the last 24 hours to $1,285.68. Solana fell 4.32% to $27.99, while Cardano is trading lower by 4.25% at $0.348. Avalanche (AVAX) fell 1.58% to $15.02. The global crypto market cap stands at $912.64 billion, a 0.93% decline over the previous day.

Fidelity to roll out ETH trading for institutions next week

Institutional clients of Fidelity Digital Assets will be able to trade ether (ETH) beginning Oct. 28. The move is the latest step towards making crypto available to institutional clients by Fidelity, the parent company of Fidelity Digital Assets. Earlier this month, the asset management firm said it started a new Ethereum Index Fund for accredited investors.

Kraken to comply with EU sanctions against Russia

Crypto exchange Kraken confirmed that it will be conforming to the European Union’s new sanctions package. The company’s announcement comes after the EU introduced a fresh sanctions package on Oct 6 aimed at punishing Russia for its aggression against Ukraine. The latest sanctions enforce a blanket ban on all payments flowing from the EU to Russia.

Tether USDT to be Available from 24,000 ATMs across Brazil

Tether plans to make its USDT token available at over 24,000 ATMs across Brazil. USDT is the world’s dominant stablecoin by market capitalization. To expand USDT’s presence in the country, Tether has partnered with payments company SmartPay. Stablecoins like USDT are typically tied to the value of the US dollar and collateralized by real-world assets audited by financial institutions in the US. 

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Fidelity Reveals $5 Million ETH Index Fund – Top Crypto Updates

Fidelity reveals $5 million Ethereum index fund

Asset manager Fidelity has invested $5 million in a new Ethereum index fund, according to registration documents filed today with the U.S. Securities & Exchange Commission. The company registered its Fidelity Ethereum Index Fund on Tuesday but said in its SEC filing that the first sale took place on September 26. Fidelity has also been busy working on a crypto exchange called EDX Markets.

Crypto prices today: Bitcoin up 1.9%, ETH rises 1%

Bitcoin is currently trading at $20,239.09, an increase of 1.88% over the previous day. Ethereum is up 1% over the last 24 hours to $1,355.03. Solana rose 1.81% to $34.21, while Cardano is trading higher by 0.32% at $0.433. Avalanche (AVAX) rose 0.51% to $17.4. The global crypto market cap stands at $966.33 billion, a 1.47% increase over the previous day.

Japan’s PM announces NFT, metaverse expansion

Japan’s Prime Minister Fumio Kishida announced plans to expand investments in non-fungible tokens (NFTs) and the metaverse in a policy speech. The country will further its investment in digital transformation and expand the use of Web3 services. Last month, the Japanese govt. awarded NFTs to seven mayors for their achievements in using digital technology to solve issues.

Mastercard launches crypto exchange risk assessment tool

Financial services company Mastercard Inc. has launched Crypto Secure, a technology solution designed to help banks identify fraud-prone crypto exchanges. The service uses artificial intelligence algorithms and blockchain data to assess the criminal risk associated with crypto exchanges on the Mastercard payment network.

Crypto startup weTrade launches feature to offer fixed interest on stable crypto investments

Bengaluru-based crypto startup weTrade has launched- ‘weSave’, a feature that provides users with an opportunity to save and avail fixed interest on their stable cryptocurrency investments. Users can earn up to 14% interest per year that is credited daily, TDS-free, and has no lock-in period.

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Fidelity Considers Bitcoin Trading on Brokerage Platform – Top Crypto Updates

Fidelity considers Bitcoin trading on brokerage platform: WSJ

As per a Wall Street Journal report, financial services giant Fidelity Investments is considering a move that would allow its individual brokerage customers to trade Bitcoin (BTC). Fidelity and other financial services firms like BlackRock continue to signal institutional interest in crypto despite market crashes and increased regulatory scrutiny.

Crypto prices today: Bitcoin up 2.2%, ETH falls 1.8%

Bitcoin is currently trading at $22,375.54, an increase of 2.2% over the previous day. Ethereum is down 1.81% over the last 24 hours to $1,71.30. Solana jumped 9.2% to $38.5, while Cardano is trading lower by 0.9% at $0.503. Avalanche (AVAX) rose 4.18% to $21.44. The global crypto market cap stands at $1.07 trillion, a 0.42% increase over the previous day.

Starbucks taps ETH scaling network Polygon for NFT rewards

Starbucks announced plans to offer its customers non-fungible token (NFT) rewards through Polygon, an Ethereum scaling network. The Starbucks Odessey program will allow customers and employees in the United States to earn digital stamps as rewards. They can also purchase and trade limited edition digital stamps. Each stamp will be minted as an NFT.

Huobi to delist 7 privacy coins, citing ‘latest financial regulations’

Crypto exchange Huobi terminated trading for Dash (DSH), Decred (DCR), Firo (FIRO), Monero (XMR), Verge (XVG), Zcash (ZEC), and Horizen (ZEN) on September 6. Deposits for each coin will also cease as of September 12, but withdrawals will continue to function. These tokens will be completely delisted on Sept 19. This is to comply “with the latest financial regulations” and Huobi’s own global token management rules. 

Argentina’s tax authority conducts raids on secret crypto miners

Argentina’s tax collection agency (AFIP) conducted raids for the first time in search of secret crypto miners. In San Juan, AFIP found an agricultural producer housing crypto mining equipment in a fruit cooling area. Many miners in the country carry out crypto mining activities secretly to avoid paying taxes. They take advantage of residential electricity tariffs, which are heavily subsidized when compared to industrial rates.