Crypto Market Highlights Jan 11, 2022

Cryptocurrency Investment Flow, PayPal Coin, Binance CEO Net Worth and many other highlights of the crypto market in the last 24 hours.

Crypto Market Highlights: Investment News

• According to CoinShares data, digital asset investment products hit a weekly record of $ 207 million (compared to $ 32 million a week earlier).

“Bitcoin (BTC) saw outflows totaling $ 107 million last week (compared to inflows of $ 7.5 million a week earlier), which we believe is a direct response to the FOMC protocol being the Federal Reserve concerns over rising inflation and investor fears over interest rates exposed hikes. “announced the company.

Ethereum (ETH) recorded a total of $ 39 million in outflows last week (up from $ 61 million per week), bringing its total outflow to $ 200 million over the five weeks. On a proportional basis, this is much larger than Bitcoin’s outflows, which account for 1.4% of assets under management. “ they added.

• N26 plans to start a crypto business this year and then a stock brokerage firm, co-founder Max Tayenthal told the Financial Times. He admitted that the German online bank had advanced too quickly globally and missed the crypto boom.
• Market infrastructure provider TP ICAP announced that it has completed its first transactions in crypto equity instruments with Goldman Sachs. The company expects continued interest in crypto-based options and futures products, as well as an interbank (non-deliverable) NDF marketplace that will develop on Bitcoin (BTC) and Ethereum (ETH) over the course of 2022.
• Katie Haun, the outgoing partner of Andreessen Horowitz, plans to raise at least $ 900 million for two separate crypto hedge funds, according to the Financial Times. In December, Haun announced that it was launching its own fund.
• Asset management firm Pantera’s Bitcoin feed fund now has $ 63.7 million in funding from 153 investors, up from $ 18 million and 56 backers a year ago, according to a new government filing. The Bitcoin Feeder Fund allows investors to invest indirectly in the company’s major Bitcoin funds.
• The general purpose dead man’s switch Sarcophagus DAO recently raised $ 5.4 million in a funding round. Builders plan to scale Dapps (decentralized applications) to support lower cost networks, as well as build tools to help third party developers integrate dead-man switch functionality into their Dapp more easily.

Highlights of the crypto market: Payment messages

The payment processor PayPal is examining the introduction of its own stablecoin as part of its crypto push, reports Bloomberg. A PayPal spokesperson told the outlet that earlier images and codes indicating a stablecoin in the PayPal app came from a recent internal hackathon in the blockchain, crypto and currency departments.

Highlights of the crypto market: Exchange messages

Binance posted revenue of at least $ 20 billion last year, according to a Bloomberg analysis of its trading volume and fees, while the Bloomberg Billionaires Index estimates CEO Changpeng Zhao’s net worth at $ 96 billion. Zhao declined to comment on the story, and Binance has denied the accuracy of Bloomberg’s estimates of the company’s market value.

On the Frankfurt Certificate Exchange, crypto certificates will remain the most popular product in 2021 with a trading volume of over 1 billion euros (1.13 billion US dollars). Total orders for structured products fell from 3.9 million in the previous year to 3.4 million, but the exchange recorded a high trading volume of EUR 18.4 billion (USD 20.8 billion).

Highlights of the crypto market: Regulatory News

A bipartisan group of MPs and Lords in the UK Parliament has created a new All-Party Parliamentary Group (APPG) for the Cryptocurrency and Digital Trick Group. They aim to act as a forum to discuss the politics and regulation of cryptocurrencies and to examine topics such as customer protection, financial literacy and inclusion.

US-based venture capitalist Andreessen Horowitz has announced a 10 guiding political agenda for global governments to “Build a Better Internet”. They encourage world leaders to proactively think about Web3 politics, starting with setting a clear vision, providing clear and fair tax rules for digital assets, applying multi-stakeholder governance, etc.

Highlights of the crypto market: Blockchain news

Ethereum’s second-layer network, Arbitrum, went down for the second time in less than five months after a hardware failure. They published an autopsy and stated that the core problem was a hardware failure in their main sequencer node.

Highlights of the crypto market: Mining news

China’s National Development and Reform Commission, the economic policy executive arm of the State Council, has looked at the predestined relationship with the cryptocurrency mining industry. Mining has been de facto banned since the raid last September, but the Commission has pursued its intention, announced in October, to add the sector to its list of industries. “Forbidden” must be “removed” in the country. The decision was made in late December and published in an official document on January 10th.

Bitcoin self-mining company Bitfarms bought 1,000 BTC for $ 43.2 million and increased its BTC holdings by 30% to over 4,300. They added that they “caught the drop” and their goal is to deliver 8 exahash / second by the end of 2022.

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