Discover the top news in crypto for the week!
Sygnum Bank is supporting Cardano with institutional-grade staking while more funds are flowing into crypto investment products. Meanwhile, regulators are increasing their efforts to implement new regulations while stablecoins are gaining new use cases. Find out the top 5 crypto news of this week.
Sygnum Bank expands bank-grade staking with Cardano (ADA)
Sygnum Bank is proud to announce support for Cardano staking, offering institutional investors a new way to generate passive income in a crypto environment while enjoying premium security. Sygnum offers several earning vehicles for the top digital assets and DeFi tokens, including Ethereum (ETH), Tezos (XTZ), Internet Computer (ICP), and now, Cardano, the eighth-largest digital asset worldwide. With Sygnum, qualified investors can earn staking rewards via segregated wallets while enjoying full flexibility, institutional-grade interface, and multi-layer security. Read more
EU securities watchdog to arm itself with crypto data
The European Securities and Markets Authority (ESMA) is starting the work on new crypto regulations, with news that it will oversee big crypto players in the EU. The EU’s watchdog is now looking for providers to receive crypto data, from spot trading to derivatives, and track the details of crypto transactions from investors. The EU financial regulator is looking for crypto data to unveil ‘abuses in markets, find out who is on each side of a transaction, and look for risky positions which could undermine orderly markets.’ Read more
Metaverse market share to surpass $50 billion by 2026, says new report
The Metaverse is becoming a global trend, with a new report by Technavio estimating that it will cross the $50 billion mark in less than five years. The report estimates that the Metaverse market will grow by roughly 21 percent per year to reach $50.37 billion by 2026, with North America leading the growth. Other countries like China are also betting on the Metaverse, while Dubai recently launched a strategy to create virtual jobs and promote the creation of Metaverse-related businesses. Read more
Europe dominates blockchain venture deals in Q2 as growth drops in Asia and the US
Blockchain venture capital deals in Europe registered an uptick in the 2nd quarter of the year, topping $1.85 billion in total funding, according to a new report by The Block Research. European venture capital deals in blockchain startups grew by 25 percent in Europe and by over 180 percent in Africa, while deals in the US and Asia declined. The US still is the region with the most venture capital activity for crypto startups, with over $5.4 billion worth of investments, followed by Europe and Asia. Read more
July marks strongest month of crypto fund inflows this year: CoinShares
A new report by CoinShares revealed that July had the highest volume of crypto inflows since the start of the year, crossing $470 million, reverting the downtrend from June. In the last week of July, crypto investment products saw inflows of $81 million, the 5th consecutive week of positive balance into crypto products. Bitcoin investment products registered the most inflows last week, with the majority coming from North America, especially Canada. Read more
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