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Crypto Flipsider News – Coinbase to Offer Derivatives, Crypto Market GAINS, Inflation Records 7%, Visa CBDC Test, U.S. Banks to Mint Stablecoins, Solana to Become Visa of Crypto

Crypto Flipsider News – Coinbase to Offer Derivatives, Crypto Market GAINS, Inflation Records 7%, Visa CBDC Test, U.S. Banks to Mint Stablecoins, Solana to Become Visa of Crypto
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Cryptocurrency News – Coinbase to Offer Derivatives, Crypto Market Gains, 7% Inflation Records, Visa CBDC Test, US Banks to Mint Stablecoins, Solana to Become Visa Crypto

Read the summary.

  • Coinbase (NASDAQ:) enters the derivatives market with the acquisition of FairX
  • Crypto market recovery, 10% refund. US inflation soars to a record 7%
  • Visa (NYSE:) for CBDC Testing with Cards and Wallets, Mint Mint USDF Stable Coins for US Banks
  • Becoming a Visa Crypto Advance – Bank of America (NYSE:)

Coinbase steps into the derivatives market with the acquisition of FairX

America’s leading cryptocurrency exchange, Coinbase, is looking to enter the derivatives market after announcing the acquisition of nascent futures exchange, FairX. FairX is a Derivatives Market Defined (DCM) exchange regulated by the Commodity Futures Trading Commission (CFTC).

Using FairX’s existing partner ecosystem, Coinbase will offer regulated trading of crypto derivatives. Derivatives trading involves trading exotic products linked to the future value of the underlying asset rather than the actual asset.

Coinbase has announced that it will, over time, develop FairX’s infrastructure to offer crypto derivatives to its US customers to demonstrate its entry into the derivatives market, Coinbase wrote;

“Creating a transparent derivatives market will open more participation in the crypto economy to both individual and institutional investors.”

prank:

  • Derivatives trading has attracted the attention of regulators because it can quickly expose retail investors to huge losses.

Why should you care

With the acquisition, Coinbase plans to make the derivatives market more accessible to our millions of retail customers.

Crypto market recovery, 10% refund. US inflation soars to a record 7%

After recording its worst start to a year since 2012, the cryptocurrency markets are starting to show their strength. The top 20 cryptocurrencies all posted gains, with DOGE topping the block by 14% in 24 hours. The Green Sea has seen the cryptocurrency market regain 10% of its value.

Global cryptocurrency market capitalization in the last 48 hours. Source: Tradingview

Join the market recovery, briefly crossing the $44,000 mark. Ethereum 4% over the past 24 hours, Ether is now trading at around $3,400. The global cryptocurrency market capitalization is now at $2.082 trillion, up from $1.85 trillion on January 10.

The cryptocurrency market is recovering with discussions about whether digital assets can hedge against rising consumer prices. It comes as US inflation hit 7% on January 12 – the biggest increase in 40 years.

With the cryptocurrency starting to rally right after the inflation report was published, many are turning to digital assets as an alternative to stocks due to low interest rates.

prank:

  • Experts have argued that rising inflation could force the Federal Reserve to raise interest rates and cut its balance sheet, pushing cryptocurrencies into a downward trend.

Why should you care

As the crypto industry matures, new reports suggest that bitcoin and many digital currencies will outperform stocks in 2022.

CBDC Test Visa with Cards and Wallets, US Banks Mint USDF Stablecoins

Visa, one of the main proponents of mainstream crypto adoption, has announced that it will be testing central bank digital currencies with its cards and wallet. The move coincides with an increasing number of countries looking to issue digital assets, such as China.

The testing program will begin this spring after Visa has reached out to 30 central banks on targets related to government-backed digital currencies. In addition, the pilot will see the Visa team with blockchain software company ConsenSys Inc.

Following statements by the US Federal Reserve that stablecoins can coexist with a central bank digital currency, banks have launched a consortium to help members mint and use stablecoins. The stablecoin, USDF, is a stablecoin made by a bank that is looking to compete with the likes of USDT and USDC.

The stablecoin will run on the public Blockchain. USDF’s founding bank members include New York Community Bank, NBH Bank, FirstBank, Sterling National Bank, and Synovus (NYSE: Bank).

prank:

  • Some anti-crypto senators continue to view stablecoins as a threat to the US economy.

Why should you care

A bigger push for CBDCs will increase the adoption of digital assets and may challenge traditional cryptocurrencies depending on how they are issued.

Solana Becomes a Crypto Visa Before Ethereum – Bank of America

Since its launch in 2020 with its revolutionary technology, Solana has been pitted against Ethereum. Capable of processing up to 50,000 transactions per second while Ethereum struggles at 15-45 TPS, Solana quickly earned the title of Ethereum-Killer.

With its “ability to provide high throughput, low cost, and ease of use,” Bank of America believes Solana has the potential to become a “digital asset ecosystem visa.”

Alkesh Shah, a digital asset analyst at BoA, sees Ethereum losing market share to Ethereum due to “high-value transactions, identity, storage, and supply chain use cases.” The BoA saw that Solana could one day defeat Ethereum.

prank:

  • Solana has become less secure than Ethereum by prioritizing scalability, as evidenced by continuous DDoS attacks.

Why should you care

Solana uses a new (history-proof) design that experts believe, if improved, could solve the scalability of digital assets.

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