• 100 million crypto users worldwide
    Bitcoin,  Cryptocurrencies

    Crypto users break 100 million worldwide

    A sharp increase to 106 million from the 66 million found in a study last May by Crypto.com can be attributed to PayPal, DeFi, and institutional investors

    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.

  • BlockFi launches bitcoin trust
    Bitcoin

    Crypto lender BlockFi launches institution-focused Bitcoin trust

    The crypto lending firm is taking on Grayscale’s Bitcoin Trust by setting its own feature management fee at 1.75%, lower than the competitor’s 2%

    “Given the level of institutional activity in recent months and demand for new, professional-grade investment vehicles, the timing of BlockFi Bitcoin Trust is ideal,” said BlockFi founder and CEO Zac Prince, “As we work to broaden the availability of this vehicle to retail brokerages, we expect this product will facilitate greater investments in digital assets.”

  • Uncategorized

    Is XRP in danger of falling out of the top five cryptocurrencies?

    XRP and Cardano’s market caps are now neck and neck, and the embattled altcoin could be demoted further if its market cap is overtaken by another token embraced by decentralized finance, Polkadot

    Just a few short months ago, XRP’s market cap meant that its position in the top three cryptocurrencies was secure. Unfortunately, a confluence of factors has plunged the altcoin’s standing into peril.

  • $13M lost in yearn.finance exploit
    Alt coins

    More than $11M lost in yearn.finance exploit, with YFI token plummeting

    The YFI governance token fell sharply from $34,700 to the low $30,000s, as the protocol’s users wonder whether they will be compensated

    “Banteg”—a core developer on the DeFi protocol whose Twitter bio says they are “ahead of the curve”—confirmed that the vault ended up losing $11 million. He went on to sow confusion by saying that deposits had been disabled while an investigation took place… and later confirmed that this isn’t possible given how the ecosystem is decentralized.