R2 money

Bitcoin price could be gearing up for a decisive move, which could set the stage for XRP, LTC, RNDR and CFX. Inexperienced traders usually chase prices higher during the end of the bull phase as they fear missing out on the rally. However, institutional investors tend to wait for the froth to settle before entering. Bitcoin’s ( BTC ) bear market in 2022 ended the hype that was seen in 2021. Fred Pye, CEO of 3iQ, Canada’s first Bitcoin fund issuer, said in an interview with Cointelegraph that as “the FOMO in Bitcoin is gone” institutional investors and portfolio managers have started to take a look at it as “a serious venue.” Crypto market data daily view. Source: Coin360 While analysts are bullish for the long term, the short-term picture looks uncertain as the price is stuck inside a range for the past several days. Analysts expect a trending move to start either next week or the week after. If Bitcoin breaks out to the upside, what are the altcoins that may follow it highe...

This week’s Crypto Biz explores Tether’s first quarter audit, Ripple’s partial victory against the SEC, Worldcoin fundraising and Ledger’s controversial recovery service. Banks want to reduce exposure to crypto businesses, just as crypto businesses are seeking to reduce exposure to the ongoing banking crisis. Tether’s latest audit report shows that the stablecoin issuer withdrew over $4.5 billion from banks in the first quarter to reduce counterparty risk following Circle’s troubles during the collapse of Silicon Valley Bank. The past few days also brought a change in the winds to Ripple’s battle with the United States Securities and Exchange Commission (SEC), with a motion from the securities regulator to seal some records rejected by a U.S. judge. The move has been viewed as a victory for Ripple, which considers the documents key evidence in its costly dispute with the regulatory agency. This week’s Crypto Biz explores Tether’s first quarter audit, Ripple’s partial victory agains...

In an interview with Cointelegraph during the Bitcoin 2023, Fred Pye spoke about how Canada's advanced regulation for crypto trading is drawing investors to the digital assets market. As the hype around Bitcoin ( BTC ) has faded, institutional investors and portfolio managers have begun looking at the major cryptocurrency as a "serious venue" to invest in, claims Fred Pye, CEO of 3iQ, Canada's first Bitcoin fund issuer. In an interview with Cointelegraph during the Bitcoin 2023, Pye spoke about Canada's advanced regulation for crypto trading, and how it has been drawing investors to the digital assets market. According to Pye, fund managers and institutional investors running diversified portfolio assets are looking for alternative investment strategies amid a global inflationary environment and macroeconomic challenges. "The FOMO in Bitcoin is gone. It's all moved over to AI [artificial intelligence]. So now the institutions and the proper portfolio...

The researchers built on their separate projects to demonstrate cross-border payments using illiquid currencies with an intermediate “vehicle” currency. The Federal Reserve Bank of New York’s New York Innovation Center (NYIC) and the Monetary Authority of Singapore (MAS) have published the results of their joint “Project Cedar Phase II x Ubin+.” The project examined the use of central bank digital currency (CBDC) for wholesale cross-border payments using one or more vehicle currencies. A vehicle currency is a highly liquid currency used to facilitate the trading of two less liquid currencies. The first low-liquidity currency is converted into the vehicle currency, which is then converted into a second low-liquidity currency. MAS deputy managing director Leong Sing Chiong said in a statement: “The Cedar x Ubin+ experiment envisages a future digital currency landscape where central banks can enable interoperability of wholesale CBDCs to facilitate more efficient cross-border paymen...

The Web5 toolkit aspires to put the control of data and identity into the hands of users. TBD, a division of fintech company Block, which is led by CEO Jack Dorsey ,  announced a novel Web5 decentralized web platform at Bitcoin 2023 in Miami on May 19.  The platform aims to introduce “decentralized identity and data storage” to applications, thereby allowing developers to leverage the technology to create “delightful user experiences, while returning ownership of data and identity to individuals,” the company shared.  Dorsey’s Web5 platform also seeks to introduce several key components to facilitate this decentralized web experience. Under the platform, wallets will act as agents, facilitating identity and data interactions for individuals and institutions. Decentralized web nodes will serve as personal data stores, securely holding both public and encrypted data, while decentralized web apps leverage decentralized identity and data storage capabilities to enhance u...

Whampoa Group started its digital asset arm in 2021 and has invested in a $500 million Binance Labs fund along with TikTok parent ByteDance. The Whampoa Group, a family office based in Singapore, will open a digital bank in Bahrain, the kingdom’s Economic Development Board said  on May 18. The Group expects to open the bank by the end of the year and is aiming for a global client base. The bank will offer digital asset trading, custody and management among digital banking services. According to Bloomberg, the Central Bank of Bahrain has granted the bank “in principle approval” pending fulfillment of all requirements. Whampoa Group is associated with two prominent Singaporean Lee families — including Amy Lee, niece of Singaporean statesman Lee Kuan Yew, and Lee Han Shih of Singaporean multimedia conglomerate Potato Productions.  #Singapore 's Whampoa Group, an #investment firm with stakes in global #tech firms, will set up the headquarters of its new digital #bank in ...