Discover the top news in crypto for the week!
New research shows that investments in crypto and blockchain skyrocketed in 2021, while interest in 2022 is not slowing down. Meanwhile, Georgia is becoming a hot spot for crypto mining, while crypto’s institutional adoption continues with one of the ‘big 4’ auditing firms buying bitcoin. Find out the top 5 crypto news of this week.
Crypto, blockchain investment in 2021 exceeded the previous three years combined: KPMG
KPMG’s latest biannual ‘Pulse of Fintech’ report shows that investments made in crypto and blockchain have beaten records to reach $30 billion in 2021. The institutional appeal of crypto in 2021 was higher than the three past years combined, with over 1,330 completed deals. According to the report, there is ‘growing interest in the broad spectrum of blockchain opportunities,’ from venture capital to hedge funds and corporations. Read more
Georgia is becoming the new hot spot for growing crypto in the US — and Bitcoin miners are taking notice
Georgia is becoming a hot spot for crypto miners in the US after the Chinese ban on mining. This US state is leveraging its low electricity prices, the openness of energy grids to work with miners, and green sources like solar and nuclear energy to attract more businesses. For example, Foundry, a leading crypto mining company, had 34 percent of its mining in January from operations in Georgia. Read more
Nobody told VC firms about the ‘crypto winter.’ They’ve poured more than $2 billion into digital asset companies this year already.
Venture capital deployed a record-level amount of funding for crypto startups in 2021, but the start of 2022 is challenging those all-time highs with several $100M+ rounds. VC already invested over $2 billion in less than one month and a half, betting on blockchain infrastructure companies, NFT marketplaces, crypto exchanges, and more. The top VC rounds this year include crypto startups like Fireblocks, FTX, Polygon, OpenSea, Blockdaemon, and Aleo. Read more
A quarter of people will have spent time in the Metaverse by 2026: Research
A new research report by Gartner expects that 25 percent of people will spend at least one hour a day in the Metaverse across activities (e.g., work, shopping, education, entertainment). Institutional adoption will also occur in the Metaverse, with estimations pointing to 30 percent of businesses launching products and services in the Metaverse by 2026. Meanwhile, Strategy Analytics predicted that the global Metaverse market could be worth around $42 billion in less than five years. Read more
Canada’s KPMG adds bitcoin to its treasury
Crypto’s institutional adoption beat records in 2021, with major companies embracing leading digital assets. Despite market corrections, big bitcoin betters like MicroStrategy are continuing their purchases, and now one of the ‘big four’ accounting firms is joining the trend. KPMG in Canada announced that it purchased bitcoin and ether for its corporate treasury after ‘a rigorous risk assessment process’ and a belief in the sector’s evolution. Read more
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