According to Crypto.com, this growth is largely driven by strong Bitcoin adoption which was a 15.7% increase. Other factors that seem to have driven the sharp upturn in adoption include the huge growth of decentralized finance (DeFi) since last summer, PayPal’s decision to enable customers to hold bitcoin, and the massive institutional adoption of cryptocurrencies by mainstream companies and highly regarded investors like Stanley Druckenmiller.
India preparing to launch digital rupee
The Reserve Bank of India’s governor said that it is ‘very much in the game’ in getting ready to launch a central bank digital currency
Central bank governor Shaktikanta Das said that there is still no set date for the launch of the digital rupee, but highlighted that the project is “receiving our full attention” and that the central bank is already tying up loose ends by working on the technology and the procedural aspects of the system.
Crypto Bank Silvergate Capital’s stock up over 1,000%
The bank, which went public in November 2019 and serves customers like Coinbase and Square, was up 1,300% before a broad tech market downturn yesterday
Silvergate, one of the first banks to embrace crypto, has been on tear thanks to its decision to accept cryptocurrency customers when no other banks would.
PayPal unlikely to invest in Bitcoin, is expanding crypto to U.K.
CFO John Rainey poured cold water on the idea of the firm buying BTC itself as PayPal announced plans to bring crypto to Venmo and merchant payments in the near future
PayPal is bringing its crypto services to the U.K., its first stop outside of the U.S., company Vice President Jonathan Auerbach said on the company's Feb. 11 Investors Day. It will also bring these services to its Venmo app in the near future, along with plans to begin allowing its network of 29 million merchants to accept cryptocurrency as payment.