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Asset management firm Devere Group says that 82% of millionaires surveyed have asked their financial advisors about adding cryptocurrencies, such as bitcoin, to their portfolios despite the crypto winter. “Wealthy investors understand that digital currencies are the future of money, and they don’t want to be left in the past,” the firm’s chief executive said. Millionaires to Capitalize in Forthcoming Crypto Bull Run, Devere Says Devere Group, a global financial advisory and asset management firm with $12 billion in assets under management (AUM) worldwide, published the results of its crypto survey Monday. Devere found that among its millionaire clients with between $1 million and $5 million of investable assets, 82% have sought advice about investing in cryptocurrencies. Without providing additional details, the asset management firm wrote: Eight out of 10 high net worth (HNW) individuals have asked their financial advisers about including cryptocurrencies, such as bitcoin, into t...

During the first month of 2023, the top two leading cryptocurrencies, bitcoin and ethereum, experienced double-digit gains against the U.S. dollar. Meanwhile, several alternative cryptocurrencies saw even greater increases in value, with metaverse tokens like Decentraland’s MANA and The Sandbox’s SAND rising 92-150% against the greenback. Metaverse Crypto Assets Outshine Bitcoin and Ethereum Metaverse crypto assets have outperformed both bitcoin (BTC) and ethereum (ETH) , the leading crypto asset and top smart contract token, respectively. In the past month, Decentraland’s MANA token has been the top performer, rising 150% against the U.S. dollar. Over the last two weeks, MANA climbed 7.3%, and in the past seven days, it rose 2.9%. On January 31, 2023, a single MANA was trading for $0.716 to $0.755 per unit. The Sandbox’s SAND metaverse token has increased 92% in the past 30 days and has risen 5% in the last two weeks. However, despite the 30-day increase, seven-day metrics show...

Dogecoin climbed to an eight-week high on Jan. 31, as prices broke out of a key resistance level on Tuesday. The meme coin surged ahead following the release of the latest consumer confidence report in the United States. Shiba inu also moved higher, rebounding from losses to start the week. Dogecoin (DOGE) Dogecoin (DOGE) raced higher on Tuesday, as the meme coin broke out of a key resistance level. Following a low of $0.08578 to start the week, DOGE/USD rose to an intraday high of $0.095 earlier today. As a result of the surge, dogecoin rose to its strongest point since December 11, when prices were at a high of $0.0972. Since the move, earlier gains have somewhat eased, as the 14-day relative strength index (RSI) collided with a ceiling of its own. As of writing, the index is tracking at 65.03, which is marginally above a resistance level at 65.00. Providing bulls are able to maintain current momentum, their next target will likely be $0.099. Shiba Inu (SHIB) Another notabl...

Russian crypto traders have been looking to obtain unrestricted accounts for global exchanges as their access to such platforms is limited. Over the past year, the offering of such accounts on the dark web has increased significantly, cybersecurity experts told the Russian press. Supply of Crypto Exchange Accounts for Russian Users Doubles in a Year of Sanctions More and more ready-to-use accounts for cryptocurrency exchanges are being sold to Russian residents. While this is not a new phenomenon — such accounts are often employed by fraudsters and money launderers — the current growth in supply has been attributed to the restrictions imposed by the trading platforms on customers from Russia, as a result of compliance with sanctions over the war in Ukraine. Russian residents have been buying these accounts despite the dangers, including the risk that whoever created them could maintain access after the sale, the Kommersant reported. But they are inexpensive and offers on darknet ma...

The South Korean government will adopt a cryptocurrency tracking system within the first half of this year, the country’s Ministry of Justice reportedly announced. The tracking system will be used to monitor and analyze crypto transactions, particularly to uncover the sources of illegal funds. South Korea to Start Tracking Crypto Transactions in 1H South Korea’s Ministry of Justice (MOJ) reportedly announced that it will adopt a cryptocurrency tracking system within the first half of this year. In its 2023 task report , the Justice Ministry explained that the tracking system will be used to monitor and analyze cryptocurrency transactions, particularly to uncover the sources of illegal funds. The ministry was quoted by local media as saying: We will overhaul the forensic infrastructure in response to the modernization of crime. The Korean government has been talking about adopting a system to track down illegal crypto transactions for many months. In October last year, the coun...

A new decentralized exchange (dex) on Arbitrum, called Vest Exchange, was announced this past weekend, and the team that created the project said the platform aims to focus on democratizing perpetual futures. The team behind Vest further detailed that the new Arbitrum dex is backed by firms such as Jane Street, QCP Capital, and Big Brain Holdings. Vest Aims to Revolutionize Defi Perpetuals With Cutting-Edge Risk-Engine and Backing From Prominent Investment Firms The creators of a new dex platform built on the Arbitrum layer two blockchain announced on Jan. 28, 2023, that the project has emerged from stealth mode. The project, called Vest Exchange , closed a seed round with investments from firms including Jane Street, QCP Capital, Big Brain Holdings, Pear VC, Cogitent, Moonshot Research, Fugazi Labs, Ascendex, Builder Capital, Infinity Ventures Crypto, and Robert Chen (Ottersec). Vest Exchange also provided a summary of the project in a blog post published on the same day. Vest ...

Lawmakers in Nur-Sultan have approved the final version of the law “On Digital Assets in the Republic of Kazakhstan.” The new legislation, including several other bills, regulates the circulation of cryptocurrencies in the country and introduces a licensing regime for crypto miners and exchanges. Senate Votes on Crypto Law, Sends It to President of Kazakhstan Kazakhstan’s Senate has adopted a bill designed to regulate cryptocurrencies and related activities in the Central Asian nation. Along with additional legal documents, the new law “On Digital Assets in the Republic of Kazakhstan” creates conditions for establishing a crypto ecosystem in the country, local media reported. Members of the upper house of parliament considered the comprehensive package earlier in January and decided to propose certain amendments to the Mazhilis, which had already approved its version of the legislation. However, President Kassym-Jomart Tokayev dissolved the lower house on Jan. 19 and called early e...

A U.S. lawmaker has introduced a resolution that encourages Capitol gift shops to accept cryptocurrency payments. He stressed that lawmakers “should increase accessibility and signal our support for the burgeoning cryptocurrency industry to those who visit Capitol Hill.” US Senator Advocates Crypto Payments U.S. Senator Ted Cruz (R-TX) announced Thursday that he has reintroduced the Adopting Cryptocurrency in Congress as an Exchange of Payment for Transactions (ACCEPT) Resolution. Cruz first introduced this resolution in November 2021. The senator from Texas said: Cryptocurrency is generating new jobs, encouraging entrepreneurs to invent new values and creating new hedges against inflation, and presenting new opportunities. It is also increasingly being used as a secure form of payment for goods and services. “This is precisely why we, here at the United States Capitol, should increase accessibility and signal our support for the burgeoning cryptocurrency industry to those who ...

U.S. Senator Elizabeth Warren has called on Congress to ensure regulators, such as the Securities and Exchange Commission (SEC), have the tools to regulate the crypto industry effectively and crack down on crypto money laundering activities. “The current legal structure essentially holds up a giant sign over crypto that says, money laundering done here,” the lawmaker stressed. Senator Urges Congress to Crack Down on Crypto Money Laundering U.S. Senator Elizabeth Warren (D-MA) said in an interview with Politico’s Morning Money Wednesday that cracking down on money laundering activities is her “main focus” in terms of crypto-related legislation. The senator confirmed that she will reintroduce her bill titled “Digital Asset Anti-Money Laundering Act of 2022.” Originally introduced in December last year, this bill is “the most direct attack ” on the personal freedom and privacy of crypto users, according to experts in the field. Warren explained that money laundering is “not nearly as...

A new organization has been established in Turkey with the aim to monitor and help develop the country’s crypto sector, local media reported. Its first task will be to address recent problems with some cryptocurrency exchanges and boost confidence in the industry as a whole. New Entity to Deal With Issues in the Crypto Space in Turkey, Hopes to Increase Transparency People trading cryptocurrencies in Turkey have been estimated at over 8 million as of 2022, according to Emrah Inanc, head of the Crypto Industry Development, Monitoring and Reporting Association. The country is in the world’s top five in terms of crypto investments, he highlighted. Speaking to the Anadolu Agency, the top executive of the newly-founded organization also emphasized that transparency is crucial for the development of the crypto sector. That’s why it will first focus efforts on solving problems with crypto exchanges and improve confidence in the industry. Inanc pointed out that a number of exchanges from ...

Tesla and Twitter CEO Elon Musk has reaffirmed his commitment to eat a McDonald’s Happy Meal on TV if the fast food chain accepts the meme cryptocurrency dogecoin (DOGE). Musk originally made the offer a year ago but McDonald’s responded with a counteroffer at the time. Elon Musk, McDonald’s, and Dogecoin Payments Tesla, Spacex, and Twitter CEO Elon Musk has reaffirmed his commitment to eat a McDonald’s Happy Meal on Television if the fast food giant starts accepting payments in dogecoin (DOGE). It has been a year since the billionaire tweeted his offer on Jan. 25, 2022. However, McDonald’s did not accept his offer at the time. “Only if Tesla accepts grimacecoin,” the Twitter account for the fast food corporation replied to him. Grimace is a fluffy, purple character who tags along with Ronald McDonald in McDonaldland commercials. The subject came up again this week when Twitter user Dogedesigner asked Musk on Thursday whether his offer is still open. The Tesla boss replied with t...

The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, says that we are in a global recession. Warning of soaring bankruptcies, unemployment, and homelessness, he noted that there is good news for investors looking for “bargains.” Robert Kiyosaki’s Latest Warnings The author of Rich Dad Poor Dad, Robert Kiyosaki, is back with more warnings about the U.S. economy and global recession. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries. Kiyosaki tweeted Saturday: “Q: What is worse than a great depression? A: a global recession.” He added: Unfortunately, we are in global recession. Hang on. Rough landing for world. Bad news. Bankruptcy, unemployment, homelessness soar. Retirements toast. However, the famed author pointed out there is good news for investors...

The White House has published a “roadmap to mitigate cryptocurrencies’ risks.” The roadmap calls for authorities to “ramp up enforcement where appropriate” and Congress “to step up its efforts” to regulate the crypto sector. It also notes that legislation should not greenlight mainstream institutions “to dive headlong into cryptocurrency markets.” ‘The Administration’s Roadmap to Mitigate Cryptocurrencies’ Risks’ The White House published a blog post titled “The Administration’s Roadmap to Mitigate Cryptocurrencies’ Risks” Friday under the National Economic Council (NEC), an Executive Office of the President (EOP) established to advise the president on U.S. and global economic policy. The roadmap is authored by four White House advisors: NEC Director Brian Deese, Office of Science and Technology Policy (OSTP) Director Arati Prabhakar, Council of Economic Advisers (CEA) Chair Cecilia Rouse, and National Security Advisor Jake Sullivan. The CEA is charged with providing objective eco...

Advisors to the Kremlin have suggested that home crypto mining should be banned in Russia, or in some of its regions. The stated motive for the proposal is to prevent fires in residential buildings. Amateur miners have been blamed for high loads on the grid causing breakdowns and blackouts. Energy Experts Want to Prohibit Mining Cryptocurrency in Russian Homes The Energy Committee of the State Council , an advisory body to the Russian president, has recommended imposing a ban on the minting of digital currencies in residential areas. Its members believe the measure will reduce fire hazards, local media reported. The idea is to completely prohibit the production of cryptocurrencies in apartment blocks and houses in the country, or at least in parts of Russia experiencing energy deficits. Among them are Moscow and the Moscow Oblast, the region adjacent to the Russian capital. The crypto-related activity, which is a source of additional income for many ordinary Russians, especially i...

A commissioner with the U.S. Securities and Exchange Commission (SEC) has called for “a coherent and consistent legal framework that works across all asset classes,” including crypto assets. She warned that the SEC’s current enforcement-centric approach would take 400 years to go through all the crypto tokens that are allegedly securities. SEC’s Commissioner on Crypto Regulation A commissioner with the U.S. Securities and Exchange Commission (SEC), Hester Peirce, talked about crypto regulation in her speech at the “Digital Assets at Duke” conference on Jan. 20. Noting that the securities regulator has “pursued registration violations in a seemingly random fashion, often years after the original offering,” the commissioner stressed: We must develop a coherent and consistent legal framework that works across all asset classes. Our imprecise application of the law has created arbitrary and destructive results for crypto projects and purchasers. “When we insist on applying the secu...

Goldman Sachs has ranked bitcoin the best-performing asset so far this year. The cryptocurrency also tops the global investment bank’s list as the asset with the highest risk-adjusted return — above gold, real estate, the S&P 500, and the Nasdaq 100. Bitcoin Outshines Other Investments on Goldman’s Chart Global investment bank Goldman Sachs has reportedly ranked bitcoin the best-performing asset year-to-date (YTD). The Twitter account Documenting Bitcoin tweeted earlier this week: Bitcoin is the best performing asset in the world this year, according to latest data by Goldman Sachs. The tweet includes a market performance chart by Goldman Sachs showing the top 25 markets’ total returns as well as their year-to-date risk-adjusted returns. Bitcoin tops the total return list at 27%, followed by MSCI Emerging Markets Index at 8%. BTC also tops Goldman Sachs’ risk-adjusted return list, with a Sharpe Ratio of 3.1. The price of bitcoin has risen since the firm published its char...

PRESS RELEASE. LBank Exchange, a global digital asset trading platform, has listed Global Digital Cluster Coin (GDCC) on January 27, 2023. For all users of LBank Exchange, the GDCC/ USDT trading pair is now officially available for trading. With its new-age protocol and peer-to-peer network, Global Digital Cluster Coin (GDCC) restructures the concept of money and assets with cutting-edge technologies that have the potential to transform various industries and allow people to adapt crypto assets. Its native token GDCC will be listed on LBank Exchange at 8:00 UTC on January 27, 2023, to further expand its global reach and help it achieve its vision. Introducing Global Digital Cluster Coin Global Digital Cluster Coin (GDCC) is a new-age protocol that caters to web3.0 services and community-driven technology, allowing users to build their dApps and serving as a hub for digital assets, international payments, and applications. Because the protocol is open to all, anyone in the world w...

The Department of Motor Vehicles (DMV) in California is running a project to digitize all of its titles and put them on a blockchain. The project, which will use the Tezos blockchain and has the assistance of Oxhead Alpha, a crypto dev company, aims to allow users to transfer titles as NFTs in the future. Innovation Comes to the DMV in California The Department of Motor Vehicles (DMV) in California is working to bring innovation to its tasks by decentralizing its functions. The institution is currently in the process of moving all of its registered titles to the blockchain, according to Ajay Gupta, the chief digital officer of the DMV in the state. The project, which started back in 2020 and stopped progress due to the pandemic, will produce a “shadow ledger” of all of the vehicle titles in the state, to modernize its registry and operations. The new system will be established on top of the Tezos blockchain and will be built in partnership with Oxhead Alpha, a cryptocurrency devel...

A new survey shows that interest in cryptocurrency remains strong among financial advisors’ clients. “Despite market performance, the most common question was: ‘Should I consider an investment in crypto?'” the survey results reveal. Financial Advisors Bullish About Crypto Long Term Crypto asset manager Bitwise Asset Management published a report titled “Bitwise/Vettafi 2023 Benchmark Survey of Financial Advisor Attitudes Toward Crypto Assets” on Tuesday. This is Bitwise’s fifth annual study conducted in collaboration with Vettafi, an exchange-traded fund (ETF) platform. The survey was conducted between Nov. 25, 2022, and Jan. 6, 2023, with the participation of 491 financial advisors, including independent registered investment advisors, broker-dealer representatives, financial planners, and wirehouse representatives from across the U.S. According to the survey findings: Despite the sharp market correction of 2022, financial advisors remain highly engaged in crypto markets, wi...

A senator in the U.S. state of Arizona has introduced a set of cryptocurrency bills, one of which seeks to make bitcoin legal tender. “Centralized digital money controlled by the central bankers is slavery. Decentralized bitcoin is freedom,” the lawmaker said. Arizona Lawmaker Wants to Make Bitcoin Legal Tender Arizona State Senator Wendy Rogers has introduced several crypto-related bills, including one to make bitcoin legal tender in her state. “Launched my crypto bills today,” Rogers tweeted Tuesday. The bills are co-sponsored by her state senate Republican colleagues Jeff Weninger and J.D. Mesnard. One of the bills proposes making bitcoin legal tender . The legislation defines the cryptocurrency as “the decentralized, peer-to-peer digital currency in which a record of transactions is maintained on the bitcoin blockchain and new units of currency are generated by the computational solution of mathematical problems and that operates independently of a central bank.” Another bill...

Russia may issue a stablecoin backed by gold to use in international settlements, a high-ranking member of the Russian parliament has admitted. The matter has been discussed during a recent visit to Iran where officials have also signaled interest in such an initiative. Iran and Russia Talk Stablecoin Payments for Bilateral Trade Settlements The Russian Federation is considering the creation of a stablecoin backed by gold that can be employed for cross-border settlements, including with Iran, the chairman of the Financial Market Committee at the lower house of Russian parliament, Anatoly Aksakov, told the Parlamentskaya Gazeta newspaper. “We discussed the issuance of stablecoins, digital financial assets (DFAs) backed by certain valuables. For example, I spoke about gold, gold bars, refineries can provide them, or centers where gold is stored, and DFAs are issued against these reserves,” the lawmaker explained after a visit by a Russian delegation to the Islamic Republic. Such a ...