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These broader movements coincided with a handful of notable developments. Early in August, Intercontinental Exchange, which owns the New York Stock Exchange, announced plans to create a regulated, global exchange for digital assets called Bakkt.
While the markets are in their own zone of decline, there is some news building up around the Bitcoin ETF. This time things seem to be on the positive side as the new appointment at SEC by Trump is Pro cryptocurrency. The other news that would give a positive push to cryptos is that Coinbase is considering options for Bitcoin ETF. Maybe this is the news the street was awaiting that could hold the free fall in markets.
Buying little nibbles here and there. Even though it's like throwing cash into the toilet and repeatedly flushing.
On Thursday, CNBC divulged that BitGo, a well-known American cryptocurrency infrastructure provider, had received a regulatory green light from South Dakota’s Division of Banking to make a foray into offering custodial solutions for institutions. More specifically, the startup collected a state trust company charter from the aforementioned governmental body, which reportedly makes its crypto custody solution the first that is fully regulated.
As reported by NewsBTC on Thursday, insiders revealed that Morgan Stanley, one of the leading firms on Wall Street, has already developed the infrastructure that would be required to back Bitcoin derivatives. As such, it was relayed by Bloomberg that the firm reportedly has plans to launch a Bitcoin swaps vehicle on the condition that established institutions show sufficient interest and demand.
In a move that indicates that the institutional dominos are beginning to cascade, Citigroup, a multinational financial services provider, has been said to have created a product known as the “Digital Asset Receipt,” reports Business Insider. The DAR, as it has been dubbed, seemingly resembles an American depository receipt, a lesser-known, yet well-established investment vehicle that allows American investors to own foreign stocks that don’t trade on U.S.-based exchanges.
In an unexpected revelation, Coinbase, along with PolyChain Capital, Circle, and other U.S.-based crypto-focused startups, revealed that they had joined hands to create the so-called “Blockchain Association.” As per a Medium post released by the recently-established consortium, the Blockchain Association is set to be a Washington-based “non-profit trade association” that will hopefully appeal to regulators based in America’s capital city.
n the context of cryptocurrencies, the crypto assets allocated to DARs will be held by a custodian, while the Depository Trust & Clearing Corp, a Wall Street clearing and settlement service, will provide an extra layer of trust and verification for individuals that invested capital to this newfangled vehicle
Today we’re announcing immediate trading and significantly higher default limits for Coinbase accounts. Starting today, we are rolling out the ability to trade cryptocurrency immediately after a purchase — no more waiting five days for funds to settle. Most customers will also see their trading limits increased to $25,000 per day. This functionality will be available for US customers over the next few weeks.
With this update, customers will receive an immediate credit for the funds being sent from their bank account. They can then buy and sell crypto to and from their USD wallet right away, but cannot send their funds off the Coinbase platform until the funds coming from their bank have settled.
All social media platforms are abuzz with a possible Ripple XRP mega breakout price by the end of the year and due to xRapid. One argument is that if XRP went to $3.82 earlier on in the year based on a rumor that Coinbase will list it, then with xRapid – which is a guarantee – the value of the digital asset could see higher levels than those seen in January. Read more at globalcoinreport.com...
originally posted by: projectvxn
Watching XRP overtake ETH in market cap is crazy. Didnt think it would happen this soon.
A sea of green could be observed through the entire cryptocurrency market as it gained upwards of $20 billion overnight. Ripple (XRP) is amid the forerunners of today’s rally, marking an increase of more than 45 percent for the day.