Crypto Market Highlights February 8th, 2022
Polygon Raises $450M, Bitcoin Grows, ETH Still Sees Outflows and more crypto market highlights compiled by cryptonew over the last 24 hours.
Crypto Market Highlights: Investment News
- Polygon claims to have raised $450 million by selling its MATIC token to investors led by Sequoia Capital India.
They said: “This will allow the team to solidify its lead in the Ethereum scaling race, eliminate the need for alternative blockchains, and pave the way for mass adoption of Web 3 applications tokens released for trading each year.”
They also said the new money would be used to provide “three to five year burn rates” to six project groups spread across India, Serbia, Switzerland, the UK and the US.
- According to CoinShares, digital asset investment products saw investment inflows of $85 million last week, marking the third week of inflows up to $133 million, indicating positive sentiment. Bitcoin (BTC) continues to lead inflows last week at $71 million ($22 million before), while Ethereum (ETH) investment products are still showing investors bearish with 8 inflows: $0.5 million ($27 million a week earlier).
- KPMG said in today’s Pulse of Fintech report that the blockchain and cryptocurrency sector attracted $30.2 billion in investment in 2021 – up from $5.5 billion in 2020 and more than triple that previous record of $8.2 billion in 2018.
- Aleo, a platform for building private blockchain-based applications, has raised $200 million in a Series B funding round led by Kora Management LP and SoftBank Vision Fund 2. They said that Aleo is currently valued at $1.45 billion, the company will use this latest funding to build products and services that will help developers build an ecosystem on a decentralized network.
- Nasdaq says it has approved the listing of Valkyrie Bitcoin Miners ETF shares. The exchange-traded fund says it will invest at least 80% of its net assets in the securities of companies that derive at least 50% of their profits from BTC mining and/or other participating companies.
- Cryptocurrency exchange-traded product (ETP) issuer 21Shares has announced the listing of Chainlink (LINK), Terra (LUNA) and Uniswap (UNI) ETPs on the Euronext Paris and Amsterdam exchanges. As of February 2022, 21Shares says it has over $2 billion in 26 crypto ETPs under management.
- DriveWealth, a startup that helps fintech companies sell stocks, is getting into cryptocurrency trading, CNBC reported. The company is acquiring a cryptocurrency company founded by Harvard-educated quantitative analysts and creating two subsidiaries to process and execute transactions, they added.
Crypto Market Highlights: News on new products and services
Digital payment platform Wirex has launched its services in the United States. According to the company, after partnering with Zero Hash, Checkout.com, Visa and Sutton Bank, they have started selling their debit cards in the US, adding that Wirex is already providing cutting-edge services to more than 4.5 million users across the EEA has and APAC regions.
Crypto Market Highlights: Security and Regulatory News
US-based blockchain infrastructure firm PeckShield and Meter lost about $4.4 million in a hack last Sunday, according to blockchain analytics firm PeckShield and the government itself. Meters.
The United States Securities and Exchange Commission (SEC) has raised concerns about how Grayscale Digital Asset Management will prevent stock manipulation, fraud, and other potential issues in its proposal to convert Grayscale Bitcoin Trust into a BTC spot exchange-traded fund (ETF).
The US Treasury Department, in a study released after the Anti-Laundering Money Act 2020, warned that Non-Fungible Tokens (NFTs) could become a tool for money laundering in the high-value art market.
A group of major crypto companies including Coinbase, Circle, BitMEX, Huobi Global, etc. forms the Crypto Market Integrity Coalition “to combat market abuse and manipulation and promote public trust and regulation in the new asset class.”
Crypto Market Highlights: Stablecoin News
Mitsubishi UFJ Trust and Banking, the trust banking arm of Japanese financial giant Mitsubishi UFJ Financial Group, will issue a stablecoin called Progmacoin worth JPY 1 ($0.0087) in spring 2023, Nikkei reported. Japan’s Financial Services Authority will allow banks to use the currency under the soon-to-be-revised fund settlement law.
Crypto Market Highlights: Mining News
Core Scientific says its self-mining operations produced 1,077 bitcoins in January, a 315% increase over the same period last year. As of January 31, 2022, the company held 6,373 BTC produced from operations, they added.
Crypto Market Highlights: DeFi and Blockchain Technology News
Decentralized finance (DeFi) bank Ondo Finance, led by a former digital asset associate at Goldman Sachs Group, has proposed that a group of decentralized autonomous organizations (DAOs) join forces to take on some management of the decentralized exchange (DEX) Sushiswap to back up. If the sushi community responds positively to the “temperature check,” the team will make a more formal proposal, said Ondo CEO Nathan Allman.
Ethereum-focused blockchain company ConsenSys and decentralized infrastructure provider for Ethereum Gnosis have jointly announced a partnership to develop custom enterprise applications and access control on the blockchain.Gnosis Safe Smart Contract Wallet. The partnership shows that ConsenSys will work with companies to integrate Gnosis Safe into their operations and develop customized solutions.
South Korea’s public blockchain platform Klaytn, developed by internet giant Kakao, has signed five major partnership agreements to continue its global expansion plans, including a potential stablecoin pegged to JPY and an NFT auction for a notable artist in Q1 2022. The Project also previously completed a Central Bank Digital Currency (CBDC) project with the Bank of Korea.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Important NOTE: All content on the website is for informational purposes only and in no way constitutes investment advice. Your money, the choice is yours.