Discover the top news in crypto for the week!
Sygnum Bank is launching a new investment vehicle targeted at the DeFi market while the industry takes more steps to promote clear regulations. Meanwhile, the largest Bitcoin event worldwide came to an end, with many announcements set to shape the future of crypto. Find out the top 5 crypto news of this week.
Sygnum Bank launches yield-generating DeFi investment solution
Sygnum Bank is joining the DeFi revolution, launching a new investment vehicle, Sygnum Yield Core AMC, based on yield generating strategies in this innovative and growing market. Yield-generating strategies like staking, lending, or arbitrage offer investors a positive risk/return profile in the crypto sector while being exposed to a novel market. Sygnum Yield Core AMC is now available for professional investors and institutions that want to diversify their investments within the crypto space. Read more
Bitcoin 2022 conference: Peter Thiel’s rant, Cathie Wood’s $1 million price target and a ‘laser eyes’ bull take spotlight at the annual crypto event
The biggest Bitcoin event in the world just ended, with major updates to the crypto community. Cathie Wood, the experienced venture capitalist, supported her position that bitcoin will reach $1 million, while Michael Saylor is positive about the crypto’s embracement of government. Meanwhile, the regions of Madeira (Portugal) and Roatan (Honduras) announced that they would make bitcoin legal tender and attract crypto businesses. Read more
Clear regulation could make crypto mainstream, says Bloomberg
How big can crypto’s institutional adoption become? The Bloomberg Intelligence 2022 Crypto Outlook predicts that crypto assets under Exchange-Traded Products (ETPs) can reach $120 billion by 2028. This market prediction is based on the increasing demand from institutions and the expectation of clear regulations in the US. Last year, crypto positions among institutions that already own digital assets grew by 52 percent, from 33 percent in 2019. Read more
Gateway to the Metaverse economy: 5 transformative functions of NFTs
NFTs could shape the Metaverse economy, giving more opportunities to creators by bridging the physical and digital worlds. NFTs offer an ownership vehicle to increase revenue sources for creators while becoming a key financial vehicle for the emergence of the Web 3 economy. Tokenization can have a big impact on the financial sector, the maturity of the Metaverse economy, and play-to-earn gaming. Read more
Cryptoverse: 10 billion reasons bitcoin could become a reserve currency
A rising stablecoin project, TerraUSD, is triggering the discussion that bitcoin could replace the dollar as the de-facto reserve currency. TerraUSD, a stablecoin from Terraform Labs, has already bought around 40,000 bitcoin, worth $1.7 billion, to use as its reserves while having the goal of buying $10 billion worth of bitcoin. According to the co-founder of Terraform Labs, this approach ‘will open a new monetary era of the bitcoin standard.’ Read more
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