Crypto NFT Today: The latest news in blockchain, cryptocurrency and NFT: 21-27 September 2022
Welcome to another edition of Crypto NFT Today! If you like cryptocurrency, NFTs and riding emotional roller coasters, this is the place to be.
Are you ready for the crunch? Let’s get started.
Robinhood adds USDC to the app
Robinhood, a popular stock trading app, added Circle’s USDC stablecoin to its crypto offerings for retail traders on Tuesday.
The company added in a tweet The offer will also be available on Wednesday for transfer on the Polygon and Ethereum networks.
Robinhood’s inclusion of USDC indicates that the company is looking abroad where the use of stablecoins is more popular and useful for investors.
Crypto options have increased significantly on the platform in recent years, and Robinhood now offers a total of 17 digital currencies.
Top cryptocurrencies disappear ahead of expected interest rate hike
Flagship cryptocurrency Bitcoin hit a three-month low of $18,247 on Monday, amid analysts and investors predicting a rally after its rapid decline from an all-time high above $60,000.
Expectations of further Fed rate hikes could be one of the main reasons leading to Bitcoin’s weakening status as investors continue to flee risky assets.
The Federal Reserve is expected to raise interest rates by three-quarters of a percentage point for the third time in a row this week in an effort to curb inflation.
Ether, the second largest cryptocurrency isn’t doing much better after the long-awaited “Merge” upgrade, hitting a two-month low of $1,280 on Monday.
Nasdaq makes a move on crypto
Nasdaq, the second largest US stock market operator, is making its first move towards embracing cryptocurrency.
In a press release on Tuesday, the company announced it is launching a cryptocurrency custody service as it aims to cash in on demand from institutional crypto investors.
Nasdaq will compete with crypto exchange Coinbase and crypto custodians Anchorage Digital and BitGo to hold bitcoin and ether for institutional clients in the US
The head of Nasdaq’s new digital assets unit, Ira Auerbach, said Nasdaq is open to working with crypto-native firms, although it has no plans for acquisitions in the near term, according to a Bloomberg report.
The former finance minister will speak at this year’s AIM summit
Lawrence Summers, an American economist who served as US Treasury Secretary from 1999 to 2001 under Bill Clinton, as well as the Director of the National Economic Council from 2009 to 2010 under Barack Obama, will offer his insights into the global economy and financial markets at the 13th edition of AIM Summit to be held on 21 and 22 November in Dubai.
This year special emphasis is placed on today’s global economy, inflation, stagflation and recession. Summers will offer his views on why the US is likely to be heading into a recession in the next two years, and discuss how globalisation, trade and technology will play a central role in the future of the global economy. Summers will also share his views on crypto and blockchain.
The war against crypto begins
