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China’s cryptocurrency transactions related to criminal activities have decreased significantly over the past couple of years, a new report suggests. At the same time, its special administrative region of Hong Kong is seeing a spike in crypto-related crime this year, with authorities attributing the rise to the popularity of crypto investments. Chinese Crime-Related Crypto Transactions […]
PRESS RELEASE. Since May 30, the BTC mining difficulty has lowered for 4 times in a row. The mining rig migration is continuing, leading to a surge of incomes in mining farms outside China. With early layout of mining farms outside China, BitFuFu takes the lead to restart running plan and restock new mining plans. […]
The Ethereum community has been gearing up for the highly anticipated London Network Upgrade which should take place on August 5 around 2:00 p.m. (EDT). Node operators have been asked to upgrade their nodes as soon as possible, as the upgrade is scheduled to take place at block height 12,965,000. Ethereum Set to Fork on […]
Cryptocurrency is gaining mainstream traction among consumers who want to use it for purchases, according to a new report. Out of more than 8,000 U.S. consumers surveyed, 93% of crypto users would make purchases with cryptocurrency in the future. Growing Number of People Want to Pay With Cryptocurrencies A new report titled “The Cryptocurrency Payments […]
Wells Fargo had announced earlier in the year that they planned to offer cryptocurrency investments to clients. Something that was referred to as a “professionally managed” cryptocurrency investment. Now the bank has announced that it will begin offering cryptocurrency exposure to its high net worth clients. The Wells Fargo Investment Institute had been working on a way for it to be able to best offer its clients an option to invest in cryptocurrency. Following a re-evaluation on the bank’s stance on crypto. “We think the cryptocurrency space has just kind of hit an evolution and maturation of its development that allows it now to be a viable investable asset,” Darrell Cronk told Insider back in May. Related Reading | Bitcoin To Surpass $120,000 In A Year, Says Pantera CEO Cronk, who is the President of Wells Fargo, alluded to the market size of the crypto market making it a good alternative investment for clients. The solution had been in the works for months as the Wells Fargo Investment Institute, which is the investment-research division of Wells Fargo Wealth and Investment Management, devised a way to provide this service to investors. Getting Clients Exposed To Cryptocurrency Wells Fargo will only be offering crypto exposure to some clients as part of its wealth management. These clients consist of high-net-worth individuals who want to get more exposure to the market without having to buy into cryptocurrencies themselves. Total crypto market cap down following weekend rallying | Source: Crypto Total Market Cap on TradingView.com Cronk revealed that this comes with “quite a bit of interest” from their clients. And Cronk’s strategy team has published the first-ever research report on cryptocurrencies by the institute. “There’s a lot of education and informational work that has to be done. It is a complex topic, and while investors have interest, it is important that they understand it for what it is.” – Darrell Cronk, President, Wells Fargo Banks Getting Into Cryptocurrencies Wells Fargo is not the first bank to provide cryptocurrency exposure to its clients. Banks have reported that there continues to be increasing demand from clients for a way for them to get involved in digital assets. In fact, Wells Fargo comes behind a couple of big banks that have provided crypto investment options for their clients. This survey carried out by Goldman Sachs revealed that 50% of the ultra-wealthy want increasing exposure to cryptocurrencies. To which Goldman Sachs has responded by offering clients the option to trade Bitcoin and Ether Options and Futures. Hopefully, other digital assets to be added to the mix. Related Reading | How Much Is Your Love Worth? Polish Influencer Sells “Love” As NFT Big bank JP Morgan also ramped up investment in companies with Bitcoin exposure, banking on increasing demand for cryptocurrencies. While this deal between NCR and NYDIG will see customers be able to buy bitcoin across 650 banks. As consumers demand more ways to get into the market, it is only natural to expect an influx of these types of products to help clients get more exposure to cryptocurrencies. Featured image from Investor Junkie, chart from TradingView.com