Kategorie: Crypto News

• Regulatory clarity and institutional adoption are areas of note for the crypto space in 2022, says the FTX chief executive Sam Bnakman-Fried.

• FTX CEO says the industry should expect the first batch of crypto regulation this year.

Sam Bankman-Fried, the CEO of cryptocurrency exchange FTX, has said that the crypto space could see an explosion in institutional investments in 2022, citing the potential for more clarity in the regulatory climate in the US and across the globe.

Although he sees the “first batch” of crypto regulations out this year, Bankman-Fried says the industry should not expect so much movement around the topic.

The FTX boss says that a lot of what happened in 2021 was just “preparatory” work, adding that he doesn’t think there will be loads of activity. But he is “optimistic” that institutional investors will be ready if the regulatory climate is conducive for them to make a splash.

„I do think that there’s going to be a lot happening this year. We’ve already seen what happened last year,” he said, adding that “a lot of that has been preparatory.“

A long march to institutional crypto adoption

Bankman-Fried told Bloomberg in an interview that should major institutional players see a move towards clear oversight and regulation, the amount of investment that could come into crypto would be in a “tidal wave.”

Yet, he feels that the much anticipated global institution adoption of crypto might not happen in a swoop this year. Just like with the move towards global regulation, he believes it’ll take time for widespread mainstream adoption of cryptocurrencies on Wall Street.

According to him, this whole process could span a few more years even as the market grows.

„It’s going to be a long process, probably stretched out over a few years,“ the FTX chief noted.

On the question of who it is in the investment world, he sees getting onto the crypto bandwagon in 2022 and beyond, Bankman-Fried pointed to  “every large bank, every large investment bank, [and] pension funds,” He noted all these players have explored the crypto sector.

The FTX CEO also talked about metaverse and non-fungible tokens (NFTs), sectors that have Big Tech and Wall Street buzzing. These were breakout technologies in 2021 and Bankman-Fried believes they could be key components of the Web 3.0 space.

Sam Bankman-Fried also talked about the issue of crypto regulation in December, emphasising the need for proper oversight that promotes the industry. He told CNBC’s “Mad Money” show :

“Let’s make sure that the regulatory oversight that needs to be there is there and oversight that doesn’t make sense isn’t gumming the industry,”

It’s a call many within the crypto space have made, with countries such as the US, UK, and India showing signs and intent in 2021.

The post FTX CEO says regulatory clarity could herald a “tidal wave” of institutional crypto adoption appeared first on Coin Journal.

Crypto market as a whole is bearish, particularly the top 20. The DJ30 (+0.68%) and SPX500 (+0.64%) hit fresh highs yesterday in the first trading session of 2022. The NASDAQ100 (+1.2%) also closed higher. Tesla was the standout performer on the SPX500, advancing 13.5% after smashing analysts’ sales expectations.

Top cryptos

Most of the top 20 by market cap have lost value, with Polkadot and Algorand being exceptions in the top 12. Solana dropped more than 3%, Cardano and BNB were down more than 2.5% and XRP slid more than 2%. Bitcoin was trading above $46,000, down approximately 1.5% at time of writing.

The live NEAR Protocol price today is $17 with a 24-hour trading volume of $1.4 billion. NEAR Protocol, which ranks 15th, is up almost 20% in the last 24 hours.

Fantom, ranking at #19, was trading at $2.89 at the time of writing. It is up 19% in the last 24 hours. It is relentless as it corrects its previous pullback. It has been on a constant bull run since December 13, 2021, and analysts believe it will reclaim its ATH of $3 before the end of January.

Another winner is ATOM, the token of Cosmos. Its price today is just over $39 with a 24-hour trading volume of $2 billion. Its native token, ATOM, is up 10% in the last 24 hours.

Top movers

Hathor is the biggest top 100 winner today with gains of 25%. It arranges its transactions in a DAG – outside the blocks – which are confirmed by the blocks. This design reportedly allows Hathor to be highly scalable and decentralized. Hathor aims to tackle the complexity of creating a new token. Tokens in the network will reportedly operate with the same scalability and security parameters as the native HTR token.

Ravencoin is second with gains of 17%. It is a digital peer-to-peer network that aims to implement a use case specific blockchain, designed to efficiently handle asset transfer between parties.

Velas and Secret both gained 13% today. Velas bills itself as the world’s fastest EVM blockchain, enabling up to 75 000 tx/s, processed instantly, with high security and low cost. Secret is the native token of Secret Network, a blockchain with data privacy for smart contracts by default, allowing you to build and use applications that are both permissionless and privacy-preserving. This functionality protects users, secures applications, and unlocks hundreds of never-before-possible use cases for Web3.

Akash is the world’s first decentralized cloud computing marketplace, and the DeCloud for DeFi. It is also up 13% today. Tezos has gained 12% in the last 24 hours.  

Trending

Saitama, a community-driven token and platform that wants to develop solutions to educate the next generation of investors and make crypto simple and safe for everyone, is up almost 50% today. It started as a meme coin, but eventually expanded beyond that. It’s surging on news of a potential Binance listing.

Shuna Inuverse, a next gen gaming NFT utility initiative, is the biggest trending coin of the day with value growth of 831%.

The post Market highlights January 4: Cryptos bearish, Tesla up 13%, leads SPX500 to record high appeared first on Coin Journal.