HSBC has reportedly changed its policy regarding cryptocurrency. The bank now prohibits customers from buying the stock of public companies that hold bitcoin, like Microstrategy. All of the companies with bitcoin treasuries could be on the chopping block at HSBC. British bank HSBC has reportedly become more strict with its crypto policy. The bank now prohibits its customers from buying the stock of public companies that are holding bitcoin in its treasury.
No longer content trailing Bitcoin, Ethereum is now leading market rallies and setting records. In the wee hours of the morning, the coin set an all-time high of $2,197. The price of Ethereum has hardly retreated since then; Ethereum currently trades for a price of $2,171. And its market cap, the second largest in all of crypto after Bitcoin, is around $250 billion, meaning that Ethereum makes up an eighth of the total market cap of the global crypto market—now $2.07 trillion.
Blockchain data shows bitcoin (BTC, +0.41%) miners are accumulating coins and adding to bullish pressures in the market for the first time since December. Analytics firm Glassnode’s miner position change metric, which gauges the 30-day change in the supply held in the miners’ addresses, recently turned positive in a sign of renewed holding by those responsible for making coins. The balance held in miner wallets has increased by 4,435 BTC to 1.806 million over the past two weeks, Glassnode’s data shows.
After the United States Securities and Exchange Commission initiated a lawsuit against Ripple alleging that the firm had been indulging in the sale of securities worth $1.3 billion, a number of prominent exchanges across the globe (including Coinbase, Kraken, OKCoin) proceeded to delist Ripple’s native cryptocurrency, XRP, from their platforms. So, what has actually caused XRP’s price to surge? José Maria Macedo, a partner at cryptocurrency analysis firm Delphi Digital, told Cointelegraph that in his view, this latest monetary upswing comes alongside a broader rise in other old-timer altcoins such as EOS and Stellar (XLM) and a reduction in BTC’s overall market dominance.
While Bitcoin is off its recent highs lately, the chief executive of one cryptocurrency trading exchange says he expects the digital currency to hit the $1 million mark within the next decade. Jesse Powell, who heads San Francisco–based Kraken, made the remarks in an interview with Bloomberg Thursday morning. “In the near term, people see it surpassing gold as a store of value, so I think a million dollars as a price target within the next 10 years is very reasonable,” he said.
Early crypto company Blockchain.com has added Polkadot (DOT), Aave (AAVE) and Yearn Finance (YFI) to its wallet and exchange. Blockchain.com enables users to buy, hold, and store cryptocurrencies and has seen over $620 billion in transactions since 2013. With these additions, the company is seeking to build on the growing decentralized finance (DeFi) industry.
Goldman Sachs CEO David Solomon has said that he thinks the Bitcoin and digital currency world will soon experience a “big evolution,” particularly regarding regulations in the United States. He didn’t reveal much about what Goldman Sachs was doing when it comes to Bitcoin, suggesting that the current regulatory landscape in the US prevents the bank from doing so. But Solomon did make it clear that Goldman is keeping a close eye on crypto—due to growing client demand.
Signal announced on Tuesday it’s now testing a new peer-to-peer payments system in the beta version of its apps. Appropriately called Signal Payments, the new feature right now supports only one protocol: the MobileCoin wallet and its companion cryptocurrency MOB. MobileCoin has a close relationship with Signal co-founder and CEO Moxie Marlinspike, who advised the company prior to its most recent round of funding announced last month.
A thousand years ago, when money meant coins, China invented paper currency. Now the Chinese government is minting cash digitally, in a re-imagination of money that could shake a pillar of American power. China’s version of a digital currency is controlled by its central bank, which will issue the new electronic money. It is expected to give China’s government vast new tools to monitor both its economy and its people. By design, the digital yuan will negate one of bitcoin’s major draws: anonymity for the user.
Prices of NFTs, the digital certificates that have taken the art and collectibles world by storm this year, have plunged about 70% from their high point in February. The average price for an NFT on April 5 was about $1,256 — down from more than $4.000 in late February, according to market research site NonFungible.com. Data from The Block, another crypto research firm, shows a similarly large decline for both prices and NFT sales as well.