Dedicated crypto teams booming within traditional financial firms
As more and more financial giants set up crypto research teams, experts see this trend continuing to gain traction in the future. Despite the financial volatility that has engulfed the global economic landscape over the last month or so, there seems to be no stopping the growth of the cryptocurrency market, especially the nonfungible token (NFT) sector. This growth is highlighted by the fact that crypto’s total market capitalization has increased from around $800 billion to $1.8 trillion since the start of 2021.Furthermore, a report from NonFungible.com released late last month reveals....
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The firms aim to build technology that "appeals to traditional institutions, payment providers [and] governments."
Companies like Visa and Nomura Holdings have set up dedicated crypto departments as they continue to embrace digital assets. Analyzing the labor market is a passion of mine. In my past life, I worked as a labor market analyst for a Canadian think tank specializing in the IT sector. Tech employees always enjoyed higher demand, higher pay and lower jobless rates than workers in the rest of the economy. Although blockchain and crypto were virtually nonexistent during my tenure, these emerging technologies are now leading exponential growth for an industry evolving from Web2 to Web3. This....
Red Hat, the world’s leading provider of open source solutions, recently introduced their OpenShift Blockchain Initiative in an attempt to bridge the gap between traditional finance and blockchain technology. OpenShift announced their Dedicated initiative at the end of 2015. The main purpose of this initiative was to combine Red Hat’s engineer and....
The crypto market downturn has made it difficult for crypto firms to pull the trigger on any new sponsorship deals with the sports teams they spent hundreds of millions on at the beginning of the year. The longer the crypto market stays in bearish territory, the more marketing deals with American sports teams are being taken off the table as crypto firms tighten their belts.Crypto exchange FTX has been rethinking its marketing plan to plaster its name and logo across Los Angeles Angels jerseys, according to a June 20 report from the NY Post. The dramatic market downturn is likely to blame....
Britain’s top financial regulator, the Financial Conduct Authority (FCA), has allowed five crypto firms to continue to operate in the U.K. with temporary registration. The deadline for crypto firms to register with the FCA was last week but these five firms’ applications are still pending.
Five Crypto Firms Can Continue to Operate in the UK With Temporary Registration
The U.K. Financial Conduct Authority (FCA) updated its list of crypto asset firms with temporary registration Thursday.
There are now five firms on the list: Cex.io Ltd., Copper....