Capital Union Bank CEO Patrick Zbinden said the bank will build a bridge between sophisticated investors and cryptocurrency markets. This and more news can be found in this handy daily digest so you are always up to date with the latest developments happening within the crypto world.
Bitcoin and Blockchain Adoption
📍‌Bahamas bank partners with Chainalysis, launches cryptocurrency services Bahamas-based Capital Union Bank has partnered with blockchain intelligence company Chainalysis to launch new cryptocurrency services, ensuring security and compliance.
Capital Union Bank is a bank that serves institutional and private clients. With its new cryptocurrency services, the bank aims to meet the growing demand of its clients and high-net-worth investors for crypto assets like Bitcoin. The bank said it will be at the forefront of cryptocurrency exposure to its clients, to help them diversify their portfolios with this new alternative investment asset class.
Its CEO, Patrick Zbinden, said that Capital Union Bank “is uniquely positioned to build a bridge between sophisticated investors and cryptoasset markets.”
📍‌Institutional investors see more growth potential in cryptocurrencies than in traditional investments, a survey has revealed. Cryptocurrency platform Bitstamp conducted a Crypto Pulse survey with a group of institutional investors from 23 countries in the Americas, Europe, Africa, the Middle East and Asia-Pacific.
In total, the platform surveyed 28.500 people, of which 5.500 were institutional investors and 23.000 were retail consumers. Of the institutional investors, 80% said they see more potential in cryptocurrencies as investment assets than in traditional investment vehicles, making it likely that crypto assets will become the dominant investment class in the next 10 years.
The survey results also indicate that currently, 3 out of 4 respondents see widespread adoption of cryptocurrencies in the next decade. Despite the volatility in the crypto market, most investors have a high level of confidence in this new asset class.
Source: Bitstamp Crypto Pulse
Innovation, Development and Technology
📍‌An Ethereum layer 2 protocol is betting on collective governance. Optimism, one of the leading second-layer scaling solutions for Ethereum, introduced “Optimism Collective,” a community collective focusing on digital democratic governance of the scaling protocol.
In a blog postOptimism developers explained that “Optimism Collective” will allow for adequate rewards for those who create or maintain public goods on Ethereum, driving the construction of a sustainable future for this blockchain network.
DeFi and NFT markets
📍‌DeFi protocol denies rumors about blocking its users. dYdX, Ethereum's 13th DeFi protocol by liquidity according to DeFiPulse, denied rumors that it is blocking the accounts of its users located in the United States and Russia.
User @bantg took to Twitter to protest against the protocol's censorship, which blocked a user account even though it claims to be decentralized. However, in its defense, dYdX recalled that its terms and conditions clarify that residents of the United States, as well as other countries such as North Korea, Iran, Cuba, among others, cannot use its services. The same terms and conditions apply to entities sanctioned by the United States government, it noted.
Rules and Regulations
📍‌Fort Worth, Texas City Council members voted yes to Bitcoin mining. The City Council of Fort Worth, Texas, has approved a resolution legalizing Bitcoin mining in its territory.
As Bit2Me News reported yesterday, the American city was considering opening its doors to this sector of the crypto industry, to boost its growth and development. The resolution approved by the city council will allow Fort Worth to receive 3 Bitcoin mining rigs, to extract the cryptocurrency on the network for a period of 6 months.
Fort Worth Mayor Mattie Parker said she will make the city a cryptocurrency-friendly destination and a major Bitcoin mining hub. On Twitter, she said Fort Worth will be the first city to mine bitcoins from its city hall.
📍‌BigVerse's NFT marketplace NFTCN accused in China of plagiarizing artworks. Qice Company has won a lawsuit against BigVerse, which operates the NFT marketplace NFTCN in China, alleging that the platform allowed a user to mint and sell an NFT using an artwork by artist Ma Qianli without his permission. According to the lawsuit, Qice Company is the sole owner of the copyright of the artwork sold as an NFT.
The court hearing the case in Hangzhou City ruled in favor of Qice Company, noting that NFT platforms are responsible for reviewing published content and removing plagiarism and counterfeits to protect their users.
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