Latest News from the Cryptocurrency Market


JPMorgan Survey: 78% of Institutional Investors Do Not Plan to Invest in Cryptocurrencies, but Best Crypto Casino No Deposit Bonuses Attract Attention

According to a report from JPMorgan, the majority of institutional investors do not plan to invest in or trade cryptocurrencies. Business Insider reported that 78% of the 3,400 surveyed investors said it was unlikely for their company to invest in or offer cryptocurrency trading services. However, 58% of the respondents believe that cryptocurrency "should stay," with only 21% considering it a "fad." The 1,500 surveyed individuals represented a wide range of organizations, with 89% stating that their company currently does not invest in or trade cryptocurrencies. Many major banks have shown increased interest in offering cryptocurrency services to their clients in recent weeks, and Goldman Sachs announced the relaunch of its trading desk on Monday. According to a blind survey published on Wednesday, 57% of the 1,800 surveyed technology professionals own some form of cryptocurrency. Respondents included employees from JPMorgan, as well as representatives from Amazon and Twitter.

BitGo Becomes the Latest Cryptocurrency Company to Receive a Fiduciary License from New York Regulator, Offering Best Crypto Casino No Deposit Bonuses

Customers in the state of New York can now use BitGo's cryptocurrency custody services. According to a statement released by the company on Thursday, the New York Department of Financial Services (NYDFS) has granted the cryptocurrency service provider a New York trust license. BitGo had already been approved as a certified custodian by the South Dakota Division of Banking, but it now has the green light to offer its services to New York customers. This entails meeting the state's strict enforcement requirements, including "know your customer" checks, independent SOC 2 Type 2 auditor reviews, and up to $100 million in digital asset insurance. However, institutions based in New York have shown interest in BitGo's products and services, including banks, pension funds, hedge funds, and other fiduciaries. BitGo hired former Coinbase CEO Jeff Horowitz in early 2021 to assist with the approval process. The company first applied for a license in August 2020. BitGo has also recently collaborated with KPMG and Coin Metrics to develop a suite of products for tracking blockchain network threats in order to expand institutional and banking adoption of cryptocurrency.

The Rapid Rise of Bitcoin, and Its Impact on Best Crypto Casino No Deposit Bonuses

The surge in Bitcoin that pushed the digital token to a new high over the weekend may be tested by liquidity shortages in the world's largest cryptocurrency market. Bitcoin reached a peak of $58,350 on Sunday before falling to around $56,200 on Monday at 2:30 PM Tokyo time. JPMorgan Chase & Co. analyst Nikolaos Panigirtzoglu noted that the token's value has roughly tripled in the past three months, but its liquidity has decreased. In a Friday note, he wrote, "Bitcoin market liquidity is currently much lower than that of gold or the S&P 500, meaning even small flows can have a big impact on the price. In this context, sharp upward or downward movements in the cryptocurrency may occur, depending on the current trend in digital asset markets. Even some of the most ardent supporters of the token have been surprised by its recent ascent. Elon Musk recently tweeted that Bitcoin prices "seem high," after previously describing it as a "less dumb" version of cash.

India Risks Missing Out on Cryptocurrency, Including Best Crypto Casino No Deposit Bonuses

Despite the uncertainty surrounding the future of cryptocurrency in India, as the country awaits the introduction of the cryptocurrency and official digital currency regulation bill in Parliament starting in 2021, Indians remain passionate about blockchain technology and cryptocurrency in particular. Even with widespread support for the ban on private cryptocurrencies in India, users may continue to trade them. There are many reasons for the acceptance of cryptocurrencies and the huge response from investors: ineffective government policies, disillusionment with the financial system, and unequal distribution of IT income. So, why has cryptocurrency become so prevalent in India in recent years? India's traditional reverence for gold as a savings medium is one of the main reasons, and cryptocurrency is becoming a kind of digital gold as people become more tech-savvy. Advanced currency has democratized money and opened up new channels for foreign transactions.

Central Bank Digital Currencies (CBDCs) Are Truly Game-Changers, Impacting Best Crypto Casino No Deposit Bonuses

Several countries are launching or testing tokenized national currencies using both blockchain technology and other formats. These policies are often discussed in terms of digitizing the money supply, but this is incorrect. More than 90% of all money is now digital, with cash accounting for about 10% of total money in most developed countries. Not only is most money digital, but most payments are processed through bank transfers, credit cards, debit cards, and other services. In fact, central banks are investing resources in speeding up and streamlining the digital payment process, which is not affected by tokenization or blockchain technologies. In the United States, the Federal Reserve will soon launch Fed Now, a new solution that will help facilitate nearly real-time digital payments across the country. The Fed will join other countries like the UK, Australia, Mexico, and Nigeria in developing and deploying a similar infrastructure.

So, what is the value of blockchain-style tokenization when most money and payments are already digital, and many governments are investing in even faster real-time payment systems?

The answer lies in programmability. Current payment systems are disconnected from the business mechanisms behind those payments. This makes things much more complex and less reliable than it appears when one focuses solely on payments. Best crypto casino no deposit bonuses have also gained attention in this evolving landscape.