JP Morgan U-Crypto – Blockchain Powers News, Opinion, TV & Jobs.

as if Marcus Soterio, analyst A publicly listed digital asset broker GlobalBlock (TSXV: Block).

As Bitcoin remains above $20,000, 66% of the Bitcoin supply has not moved in a year, which is the largest percentage of supply that did 1 year ago. This shows that BTC holders are confident of staying with Bitcoin for a long time.

More institutions are entering the DeFi space, such as JP Morgan, DBS Bank, SBI, Standard Chartered Bank, HSBC, UOB participating in the Monetary Authority of Singapore’s (MAS) digital asset pilots. MAS is the central bank of Sinapore and has allowed the aforementioned banks to conduct their first live transactions on the public blockchain using DeFi, deposits and verified credentials.

After JP Morgan famously opposed DeFi, with its CEO calling crypto a “decentralized Ponzi scheme” a few months ago, the banking giant has become involved in the DeFi sector, a major step for the industry.

JP Morgan along with SBI Holdings LLC used a version of the Aave on Polygon blockchain to execute tokenized SGD trading for JPY. Polygon Token (MATIC) is up over 20% today, up over 50% in the past few weeks.

In other news, Coinbase reported a loss of $545 million in the third quarter yesterday. This is 50% less than the loss in the second quarter of this year, which was 1.1 billion dollars, but the loss is still a concern for investors.

Trading revenue fell 44% from Q2, to $366 billion, reflecting a shift in trading volume away from the U.S. amid regulatory uncertainty. The UK has great potential in this regard, with Rishi Sunak becoming the new Prime Minister of the UK.

In its earnings report, Coinbase stated, “As of the end of the quarter, a reported 25% of the world’s 100 largest hedge funds under management chose to come on board with Coinbase. This is a significant increase from last year when 10% of the largest hedge funds were boarded on Coinbase, which suggests that they are preparing to invest in crypto hedge funds when we finally get a change in macroeconomic conditions.

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