Author: Crypto Global News

French Fintech Lydia Taps Bitpanda to Let 5.5M Users Trade Crypto By Sandali Handagama Austrian crypto exchange Bitpanda has teamed with French mobile payments app Lydia to offer Lydia’s 5.5 million users the ability to invest in digital assets. Bitpanda announced Monday its digital asset investment product is now fully integrated with Lydia’s payments app, which will enable Lydia customers to invest in over 170 digital assets from cryptocurrencies to commission-free fractional stocks, exchange-traded funds (ETF) and precious metals. Transactions are executed via Bitpanda, the announcement said. Bitpanda, Austria’s first tech unicorn, has been expanding its presence through Europe. In October,…

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Square Releases White Paper Detailing Protocol for a Decentralized Bitcoin Exchange By Tanzeel Akhtar, Nelson Wang The white paper from Square’s new division TBD describes a protocol for exchanging digital and other assets in a way that’s more accessible to everyone. Payments giant Square released a white paper on Friday detailing a new decentralized protocol for exchanging digital and other assets known as tbDEX. “The tbDEX protocol facilitates decentralized networks of exchange between assets by providing a framework for establishing social trust, utilizing decentralized identity (DID) and verifiable credentials (VCs) to establish the provenance of identity in the real world,” the company…

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Bitcoin Underperforms Altcoins as Sell-Off Pauses By Damanick Dantes Bitcoin held steady around $57,000 on Friday after a near-10% decline over the past week. The cryptocurrency is roughly flat over the past 24 hours, compared with a 5% rise in ether and an 8% rise in Solana’s SOL token over the same period. “Market sentiment seems short-term bearish/sideways – people are shorting BTC in the perpetual futures market,” Ki Young Ju, CEO of CryptoQuant, wrote in a blog post on Friday. Analysts pointed to rising leverage as a possible sign of froth in the crypto market, which forced some traders to…

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Biden and the Fed: Why Powell or Brainard Won’t Change Much for Crypto By Aoyon Ashraf Both candidates are seen as taking a tough stance on crypto regulation, but they’re also both seen as dovish – possibly beneficial for bitcoin’s inflation narrative. Placing bets on which candidate for Federal Reserve chair would be best for cryptocurrencies? The answer might disappoint: Both incumbent Jerome Powell and leading alternate Fed Governor Lael Brainard are seen as having roughly the same impact. The speculation of who will be the next Fed chair intensified after Senate Banking Chairman Sherrod Brown said early this week…

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Cryptocurrencies Slide as Buyers Stick to the Sidelines By Damanick Dantes Cryptocurrencies continued to slide as buyers appear to be taking some profits. Some analysts are now cautious on bitcoin’s short-term price direction given the recent loss of upside momentum. Bitcoin declined toward a three-week low on Thursday around $56,000 before stabilizing near $58,000. BTC is down about 11% over the past week, compared with a 14% drop in ether over the same period. “Downward momentum is hardly a good sign; pay attention to the cautious approach of bulls, which are not in a hurry to buy and waiting for more…

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Bitcoin Pullback Pauses As Traders Reduce Leverage By Damanick Dantes Bitcoin’s price continued to stabilize around $60,000 on Wednesday after dropping nearly 15% from an all-time high near $69,000. Some analysts remain bullish on BTC’s price due to improving blockchain data, suggesting the current pullback could be short-lived. “The drop seems to be related to excessive leverage in the system being flushed out,” Jan Wuestenfeld, an analyst at CryptoQuant wrote in a blog post. “As long as on-chain fundamentals do not change on these price corrections, the medium-term outlook remains bullish,” Wuestenfield wrote. Technical indicators show a positive upward trend for BTC, which means buyers could…

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Staples Center Name Change Tops List of Crypto Sports Sponsorship Deals By Eli Tan Cryptocurrency companies have taken the sports world by storm over the past year, and if you’re an avid watcher of sports, you’ve certainly noticed this firsthand. Ranging from in-person stadium billboards to commercials starring some of the most recognizable faces in sports, crypto companies are pouring money into sports marketing campaigns at a historic rate as leading cryptocurrencies climb to new highs. Two crypto exchanges in particular, FTX and Crypto.com, have plowed hundreds of millions into sports-related deals in a play for new customers as Coinbase…

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LA’s Iconic Staples Center to Be Renamed to Crypto.com Arena By Eliza Gkritsi The naming deal is one of the biggest in sports history, according to the L.A. Times. The Staples Center arena in Los Angeles will be renamed to Crypto.com Arena on Christmas day, according to a press release . The Singapore-based crypto exchange bought the naming rights from AEG for 20 years, for $700 million, the L.A. Times reported, citing sources familiar with the matter. The $700 million figure makes it one of the largest naming deals in sports history, according to the newspaper. An AEG spokesperson declined…

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One Fourth of Fund Managers Expect Bitcoin Price Over $75k in 12 Months: BofA Survey By Eliza Gkritsi, Will Canny One-quarter of surveyed global fund managers expect the price of bitcoin to surpass $75,000 in 12 months, according to a Bank of America survey of global fund managers seen by CoinDesk. A quarter of fund managers expect the price of bitcoin to be over $75,000 in one year, compared with 20% who think it will remain relatively flat, between $50,000 and $75,000, and 19% who think it will fall to $25,000 to $50,000. Long positions on bitcoin are more crowded…

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Market Wrap: Analysts See Bitcoin as Still in ‘Bullish Phase,’ Despite Pullbacks By Damanick Dantes, Helene Braun Bitcoin was roughly flat over the past 24 hours, suggesting that investor enthusiasm over the Bitcoin blockchain’s Taproot upgrade is starting to fade. In October some analysts warned the upgrade might already be priced in given BTC’s near-40% rally over the past few months. Still, it remains to be seen whether investors will continue to accumulate BTC in hopes of long-term gains. “Historically, bitcoin has risen after past upgrades [to the Bitcoin blockchain], so many see this as possibly history repeating itself,” Marcus…

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