Crypto has experienced a significant decline last week. The Nasdaq Crypto Index (NCI) plummeted 10.8%, with bitcoin (BTC) dropping 11.1% and ether (ETH) declining 9.5%. Factors leading to the sudden drop include the announcement of Chinese real estate giant Evergrande filing bankruptcy, a WSJ report on SpaceX allegedly selling $300m+ of its BTC holdings, and China's call for banks and funds to limit equity sales during the market dip. Read more of our thoughts about last week here.
Coinbase wins approval to list crypto futures in US
Coinbase has NFA approval as a Futures Commission Merchant (FCM), enabling eligible US customers to access crypto futures. Coinbase takes the lead as the first crypto-native frontrunner to seamlessly provide both traditional spot crypto trading and compliant leveraged crypto futures, all within a unified trading solution for their verified users.
Ledger adds PayPal as on-ramp for Bitcoin and Ethereum
Ledger, a well-known crypto hardware wallet provider, has introduced a PayPal on-ramp feature, enabling users to buy Bitcoin and Ethereum directly through their wallets. This collaboration simplifies the purchasing process, making cryptocurrencies more accessible while attracting new users to crypto.
FedNow adds Hedera project Dropp to 'Service Provider Showcase'
FedNow, the pioneering US government-initiated portal for SWIFT fund transfers between banks, has integrated "Dropp," a micropayments platform built on Hedera Hashgraph's technology. This event gains significance as the Fed's selection of Dropp implies a cautious endorsement of blockchain technology. It's worth noting that the decision to opt for Hedera's centralized solutions diverges from the prevailing trend of decentralization embraced by other traditional financial players.
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