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Galaxy Digital names Leon Marshall its head of Europe operations. The crypto company had recently partnered with DWS in Europe. Galaxy Digital shares are down about 30% versus their YTD high. Galaxy Digital just revealed plans of expanding its footprint in Europe. Its shares are keeping about flat at writing. Leon Marshall to head Galaxy’s European operations On Thursday, the blockchain company named Leon Marshall the Chief Executive of its Europe an operations. He has previously served as an executive at Genesis. Marshall has been tasked with seeking opportunities and leading the digital assets platform further into Europe. He will remain its global head of sales as well. Earlier this year, the New York based firm announced a strategic alliance with DWS on digital assets ETPs – exchange-traded products. The asset manager will eventually work with Galaxy Digital on other digital asset solutions as well. “GLXY” is currently down abo...

The Monetary Authority of Singapore (MAS) has reiterated that cryptocurrency exchanges need to conform to restrictions on Russian users imposed over Moscow’s invasion of Ukraine. The reminder comes after researchers established that pro-Russia activists have raised millions of dollars in digital assets to support its war effort. Singapore Says Measures Targeting Russia Apply to All Financial Institutions, Including Crypto Exchanges Compliance with financial sanctions on Russia is a must for licensed cryptocurrency exchanges, the Monetary Authority of Singapore (MAS) commented for local media on Monday. The statement comes after recent studies found that pro-Russian groups have received crypto donations worth millions of U.S. dollars to fund Russian military operations in Ukraine. Following Russia’s invasion in late February, MAS introduced in March financial measures aimed at designated Russian banks, entities, and activities, including fundraising benefiting the Russian governme...

According to a new study, investors are increasingly looking into Bitcoin (BTC) as a safe haven. According to strategists at the Bank of America, the increasing correlation between Bitcoin and Gold (XAU) is a signal that investors’ confidence is increasing toward BTC. The BTC and gold correlation has been increasing since September and hit a yearly high in early October. As per the Bank of America strategists, Bitcoin is a fixed supply asset, and “may become an inflation hedge.” Source: Bank of America, CoinTelegraph The increase in the BTC/XAU correlation is one symptom of increased investor trust in Bitcoin as a store of value, but it is not the only one. Additionally, the correlation between BTC and popular stocks like the S&P 500 (SPX) and Nasdaq 100 (QQQ) has also grown. On September 13th, the correlation between BTC and both SPX & QQQ was at an all-time high. Massive Bitcoin transfers from exchanges to private or self -hosted wallets were also...

Source: AdobeStock / kaew6566 “Big four” accounting firm KPMG and technology and financial services company Aspen Digital found that family offices (FO) and high-net-worth individuals (HNWIs) in Hong Kong and Singapore "have embraced" the digital asset class, with more than 90% of survey respondents having already invested in the space or planning to do so.  Per KPMG China’s Partner Paul McSheaffrey and Aspen Digital’s CEO Yang He, the companies aimed to gain insights into the current activity of these two groups and their plans for future investment in the market. The report they produced is based on a survey of 30 FOs and HNWIs in Hong Kong and Singapore, carried out in the second quarter of 2022, as well as interviews with industry stakeholders. The report found that nearly all respondents are interested in the sector, with a "particular interest" in crypto.  It stated that, "Despite the volatility in the digital asset market in ...

The crypto-verse was hit hard by the bears further prompting the downfall of the entire market. While some went on a selling spree, a few others filled up their pockets with more crypto . Amidst this, several analysts were seen making predictions pertaining to the price movement of Bitcoin [BTC] and other digital assets . Mike McGlone, a senior Bloomberg analyst has time and again made forecasts with regard to Bitcoin’s price. Despite the king coin’s struggle to move past $20K, McGlone continued to stick to his prediction of BTC hitting $100,000. Appearing in a recent interview with Stansberry Research McGlone noted that the asset’s limited supply and increased adoption would drive its price. However, these weren’t the only factors, he further added, “So Bitcoin, I think it’s [only] a matter of time [until] it appreciates towards that $100,000 level. And at some point, it’s going to just slip in and kick into that bull market – maybe at the same time...

French banking giant, Societe Generale’s crypto division , SG Forge, is the latest firm to get regulatory approval from the AMF (Autorité des Marchés Financiers). According to AMF’s website, SG Forge is authorized to offer buying , selling, trading, and custody of digital assets from September 27th. Societe Generale is the latest to join the list of crypto firms that have obtained digital asset service provider (DASP) registration in France. Binance and Crypto.com are among the other firms that have been approved by the AMF. Societe Generale is one of the largest financial institutions in the world. The bank’s cryptocurrency service approval should ideally pave the way for more cryptocurrency adoption in the country. Uptick in European Crypto Adoption Recently European diplomats approved the text of their MiCA (Markets in Crypto Assets Regulation) legislation. The law will now have to be approved by the European Parliament, before being enacted. However, t...

The deadly conflict that started with Russia’s assault on Ukraine has increased crypto-related activity in both countries, according to Chainalysis. Fiat inflation and sanctions pressure led to several spikes in transaction volumes this year, the blockchain forensics firm has found, while Eastern Europe as a whole sustained its role in the global crypto ecosystem. Russians and Ukrainians Turn to Crypto Amid Consequences of Escalating Military Clash The Russian invasion of Ukraine and ensuing military conflict that’s currently escalating have affected all aspects of life in the two nations, and cryptocurrency is no exception, Chainalysis said in an excerpt from its upcoming 2022 Geography of Cryptocurrency Report. Citizens of both countries have felt the war’s economic impact and experienced high inflation. Shortly after the hostilities began in late February, Russian and Ukrainian cryptocurrency transfers saw an increase. In the following weeks and months trends diverged, and while ...

Mastercard has outlined five key crypto areas it is working on in order to “turn cryptocurrencies into an everyday way to pay.” A Mastercard executive opined : “Someday soon, the ability to own and spend a digital currency could be as seamless as making a contactless card payment.” Mastercard Focusing on 5 Major Areas Covering Crypto, Metaverse, and NFTs Mastercard highlighted on Wednesday five different areas it is working on in order to “turn cryptocurrencies into an everyday way to pay.” Raj Dhamodharan, executive vice president of Digital Asset and Blockchain Products & Digital Partnerships at Mastercard, explained: “Digital assets like cryptocurrencies and central bank digital currencies [CBDCs] have the potential to transform the financial system’s infrastructure.” He added that non-fungible tokens (NFTs), blockchain gaming, and metaverse experiences “could change how consumers shop and communicate.” The ex...

A list of crypto exchanges , including global platforms, have not introduced new restrictions on Russian users after the EU’s most recent sanctions round, Russian crypto media reported. The latest European penalties target an array of crypto-related services to increase pressure on Russia amid an escalating conflict in Ukraine. Major Exchanges Continue to Work in Russia Following EU’s Ban on Crypto Services The European Union adopted a wide range of sanctions last week, aiming to hit Russia’s government, economy, and trade harder. Along with other measures, the eighth package of EU restrictions banned the provision of all crypto wallet, account, or custody services to Russian residents and entities. While some companies from the industry have quickly reacted and already suspended operations with Russian accounts, a number of crypto exchanges have not conformed to the European requirements yet, the crypto page of leading Russian business news portal RBC revealed in a report. Among ...

DeRace has chosen Binance Custody to support its $DERC token and safely store its users’ digital assets . Binance’s institutional-grade Qualified Wallet infrastructure will provide security for DeRace’s users. “We’re excited to partner with Binance Custody in order to ensure the top-notch security of our digital assets and provide additional safety measures for our community. Binance Custody makes it easier for institutional investors and other ecosystem participants to use $DERC, the native token of DeRace.. We look forward to exploring additional collaboration opportunities with the wider Binance ecosystem.” — Adomas Juodisius, DeRace founder and CEO Operating as an independent, insured, and compliant custody service, Binance Custody also provides a unique gateway to integrated institutional services. It also has deep liquidity and access to Binance’s comprehensive product suite. The exchange offers a secure way to trade digital assets , with a large volume of ...

NFTs are not in their best shape now. The whole hype seems to have worn off, which is evident in the notable drop in NFT sales on several NFT marketplaces, including OpenSea. However, the scrutiny over NFTs doesn’t seem to wear off as Yuga Labs faces an investigation from the SEC. Bored Ape Yacht Club ( BAYC ) creator Yuga Labs faces a probe from the US Securities and Exchange Commission (SEC), according to Bloomberg. The investigation is to enquire whether the Bored Ape Yacht Club NFT collection violated federal law. BREAKING: 🇺🇸 SEC launches investigation into Bored Ape Yacht Club creator Yuga Labs. — Watcher.Guru (@WatcherGuru) October 11, 2022 SEC is examining whether BAYC NFTs are securities As per the details from the person familiar with the matter, the SEC is looking into the possibility of whether a few of the NFTs sold by Yuga Labs are similar to securities and whether they should follow similar rules. The SEC is also looking...

Join Our Telegram channel to stay up to date on breaking news coverage Bitcoin has been running up the hill in the last few days and showing positivity around its price. Precisely, it crossed the $20,000 mark on September 27, and since then, it has been oscillating around $19k to $20k. Over the last couple of weeks, Bitcoin has struggled to go on a significant upward trend. However, it has been stable with a price range of around $19k while still occasionally dipping down to the $18k mark. Bitcoin experienced this slight surge and reached the $20k range at a time when the traditional market was at higher volatility. The foreign currencies and stocks were tumbling which instilled skepticism among the investors. For instance, on September 23, the British prime minister, Lizz Trust, announced tax cuts and increased debts, which led their currency to fall against the U.S. dollar and resulted in the higher trading volume of Bitcoin. It had such a greater impact on Bitcoin’s...