fintech

Fed Official Says USDt Reserves Resemble A 'Very Risky Prime Fund'

FRNT Financial

June 29, 2021

Last week, Boston Fed President Eric Rosengren said USDt reserves resemble a “very risky prime fund.” Despite persistent concerns over the stablecoin’s perceived regulatory challenges, the USDt market cap has tripled since the new year to USD 62 billion.

Binance Lists Ontario As A 'Restricted Jurisdiction'

FRNT Financial

June 28, 2021

Ontario residents using the platform have until December 31 to close out active positions. The move preceded a notice from the UK’s Financial Conduct Authority (FCA) which stated that Binance “must not...carry out any regulated activities for which” it lacks permission.

Relative To Traditional Financial Assets, Alt-Coin Valuations Remain Challenging To Justify

FRNT Financial

June 23, 2021

Despite the aggressive crypto selloff, BTC dominance remains below 50%. Unrealistic valuations still persist across the market.

Estimated BTC Hash Rate Drops After China's Sichuan Region Orders Miners To Cease Operations

FRNT Financial

June 21, 2021

On Friday, authorities in Sichuan ordered mines in the region to shut down by Sunday. The Cambridge Centre for Alternative Finance reports that the province accounted for roughly 9.66% of China’s hash rate as of April 2020.

By Listing SHIB, Coinbase Gives 'Questionable' Coins More Legitimacy Than They Deserve

FRNT Financial

June 17, 2021

Coinbase’s decision to list Shiba Inu (SHIB)— a token launched in 2020 by an anonymous team with the aim of mimicking Dogecoin— highlights crypto exchanges’ incentives to list questionable projects.

The Path Forward For Blockchain-Based USD Beyond The Crypto Space Remains Unclear

FRNT Financial

June 16, 2021

Stablecoins outside of the crypto ecosystem have a number of competitors offering more traditional digital solutions, such as Cash App, Venmo, and Interac.

DeFi Venues Face Scrutiny From U.S. Regulators

FRNT Financial

June 14, 2021

Last week CFTC Commissioner Dan Berkovitz said DeFi exchanges offering derivatives aren’t legal and that “we should not permit DeFi to become an unregulated shadow financial market.”

Solana's SOL Coin Is Now Ranked 12th By Market Cap

FRNT Financial

June 10, 2021

Solana Labs, the firm behind the Solana blockchain, has raised USD 314 million via a sale of its native SOL coin with the aim of expanding the smart contract network. With a market cap of USD 11 billion, SOL is now the 12th largest crypto by that metric.

BTC Transaction Fees Remain Steady Despite An Increase In Network Usage

FRNT Financial

June 9, 2021

BTC transaction fees priced in the asset have remained well below highs from 2017. This is despite network usage metrics that surpassed those from 2021.

Crypto Networks Likely Remain Undifferentiated By Most Investors

FRNT Financial

June 8, 2021

The increase in correlation between assets as diverse as DOGE, ETH, XRP, and BTC suggests that adoption hasn’t been accompanied by a more sophisticated differentiation between usage metrics and technical maturity of varying blockchains and their associated assets.