Discover the top news in crypto for the week!
This week, both the US and Russian central banks make headlines for very different reasons, while crypto adoption is growing. Meanwhile, new blockchains are emerging to support NFTs and DeFi amid a talent rush into crypto. Find out the top 5 crypto news of this week.
SBA welcomes Sygnum Bank as new member
Sygnum Bank is now a member of the Swiss Bankers Association (SBA), contributing to discussions on the future of the Swiss financial centre. Sygnum and the SBA will work together to develop optimal frameworks for banks in Switzerland, contributing to the overall ecosystem.
Matthias Imbach, the Group CEO and Co-Founder of Sygnum, commented that this move ‘allows us to join with others in positively influencing the innovative power of the Swiss financial centre.’ Read more
JP Morgan says Ethereum is losing ground to rivals in the NFT market, which could boost the likes of Solana
According to JP Morgan, the high fees and congestion of the Ethereum network are causing NFT enthusiasts to move to other chains. Given its high scalability, Solana is poised to become a rising alternative in the NFT market, with other chains like Avalanche also increasing in popularity due to low transaction costs. The NFT market reached over $23 billion in volume in 2021, with other blockchains like Flow, Tezos, Zilliqa, and Cardano focusing on it. Read more
Crypto job ads jump 400 percent in a year, says LinkedIn
New research from LinkedIn shows that crypto job postings rose by 395 percent in 2021, registering a five-fold increase from 2020. Job postings with terms like ‘bitcoin,’ ‘cryptocurrency,’ or ‘blockchain’ are included in the growth, much higher than the overall tech industry. More talent is moving from tech companies to crypto and blockchain startups, including popular Web 2 founders. Read more
Fed opens debate over a U.S. central bank digital currency with long-awaited report.
US Fed takes a step towards a US digital-coin issuance, seeking public feedback on a government-backed coin. The Federal Reserve took its first step toward more seriously examining issuing a central bank digital currency, releasing a report on Thursday that examines the idea’s potential costs and benefits and opening the door for public comment. In a long-awaited report, the Fed avoided taking sides and set out a list of arguments for and against a digital currency, and posed questions that will shape the debate. Read more
Bank of Russia suggests making crypto trading, mining and usage illegal
Russian central bank proposes a crypto ban: Russia's central bank suggests making crypto trading, mining and usage illegal. Owning crypto would be allowed. This is likely to have a negative impact on Russia’s tech innovation and trigger a further brain-drain on tech professionals and entrepreneurs. Read more
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