Institutional investors were souring on cryptocurrencies even before this week. The sudden downfall of Sam Bankman-Fried’s FTX.com may have permanently damaged their prospects of being included in mainstream portfolios. While plenty of industry die-hards remain, many professional money managers are saying the case for crypto as a portfolio diversifier or digital gold has been debunked. … Read more
Mumbai: Crypto exchanges that registered a double-digit growth until recently are witnessing slowdown in their new sign-ups in December after New Delhi deferred discussions on the proposed cryptocurrency law to the budget session. New signups, across platforms, were increasing at 10% month on month until October-November in anticipation of a legal framework expected to be … Read more
In my view, in the history of mankind, cryptos are the fastest asset creators, creating $2-$3 trillion in the 10 years since Bitcoin was launched in 2009. Today, it is one of the most talked about asset classes — or should I say a puzzle. To utilise this asset and to enjoy its benefits as … Read more
Crypto exchanges are lobbying for definition of different types of crypto assets while the government looks to table the Cryptocurrency Bill in the Parliament this budget session, said people with direct knowledge of the matter. The government’s current plan includes creating a broad framework around crypto assets that would give them a legal credence in … Read more
The cryptocurrency business has a lot to learn from stocks about preventing crashes. Eye-catching, mistaken plunges are not unusual in crypto. In June 2017, Ether had a harrowing 45 milliseconds that took its price down to 30 cents — a 99.9% loss. This week, it was Bitcoin’s turn to flash crash: The biggest cryptocurrency dove … Read more
The Indian crypto universe is in a FUD. Fear, Uncertainty and Doubt (FUD) took over Indian investors in crypto assets on Wednesday as Bitcoin, the world’s most valuable and best-known crypto token, posted its biggest single-day fall in nearly a year. After Tesla Inc’s founder Elon Musk said last Thursday that the electric vehicles maker … Read more