Clever Aave to Matic bridge keeps track of yields

A new type of cross-chain bridge has been invented which integrates the interest-yielding properties of DeFi with second layer solutions for Ethereum. The first Aave-friendly Ethereum to Matic bridge has opened for business, allowing users to port Aave’s interest-bearing aTokens back and forth between the DeFi protocol and the faster, cheaper layer-two network. The bridge was developed and launched by Nick Mudge, Lead Solidity Developer of Aavegotchi. It differs from previous Ethereum to layer-two bridges as it interacts with the Aave protocol to keep track of interest being paid on…

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Crypto market cap falls by $113B as Bitcoin price tumbles to $28,750

After a day of intensifying sell pressure, Bitcoin price dropped below $29,000 for the first time since January 5. On Jan. 21 the cryptocurrency market experienced an increased wave of selling pressure and within the last hour Bitcoin (BTC) price dropped below the $30,000 mark for the first time since Jan. 4.  BTC/USDT 4-hour chart. Source: TradingView Now that Bitcoin has lost the $32,000 and $30,000 support, a growing number of analysts are suggesting that the price could retest the $24,000 support. One theory behind the dip suggests that institutional…

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Is Grayscale is about to unveil a LINK Trust?

Mystery filings using Grayscale’s name suggest the multi-billion dollar firm may be looking to expand the number of Trusts. Grayscale Investments could be set to launch a raft of new products including a Chainlink Trust, if freshly unearthed filings are to be believed.  According to the State of Delaware’s Division of Corporations, someone set up a Grayscale Chainlink Trust on December 18, 2020. On the same day, a Basic Attention Token (BAT) Trust, Decentraland (MANA) Trust, Livepeer (LPT) Trust, and a Tezos (XTZ) Trust were also initiated. Before these communities…

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Upbit launches in Thailand just days after regulators suspended Bitkub

As Thailand’s leading crypto exchange remains suspended, billionaire backed rival Upbit enters the scene. Crypto exchange Upbit is entering the Thai market at a fortuitous time when the kingdom’s most popular exchange, Bitkub, remains suspended by government regulators. According to reports in local media, a joint-venture crypto exchange between Upbit APAC and a group of Thai billionaires launched operations on Wednesday, Jan. 20. It follows the regulatory suspension of the country’s most popular trading platform Bitkub on Monday, which had a reported 97% share of the market before its closure.…

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Rick and Morty Creator Sells NFT Art Collection for Over $1 Million in Ether

Justin Roiland, the co-creator of the Adult Swim cartoon series Rick and Morty has joined the growing trend of celebrity artists creating non-fungible token (NFT) artwork. After the animator released the collection called “The Best I Could Do” on the NFT auction house Nifty Gateway, the artwork sold for over $1 million in ether. Justin Roiland is well known for co-creating the animated television show Rick and Morty alongside his producing and voice-acting abilities. Just recently, Roiland, who also maintains an animation studio and video game studio decided to sell…

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Komainu to store crypto confiscated by UK law enforcement

The Assistant Commissioner of the City of London Police said the partnership with Komainu would help in “denying criminality the proceeds of crime.” Digital asset custodian Komainu is working with authorities in the United Kingdom to store crypto confiscated as part of criminal investigations. Komainu is a custody venture from Japan-based global investment bank Nomura, digital asset manager CoinShares, and hardware wallet manufacturer Ledger. The firm announced it has made an agreement  to “securely store digital assets seized during the investigatory process” for police forces in England, Wales, Northern Ireland,…

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Crypto ETP capitalization up 90% this month as institutional volume triples

Institutional investors have rallied around crypto this past month, with the AUM of crypto ETPs surging more than 90% as volumes tripled. Capital has flooded into crypto investment products in recent weeks, with the value of assets invested into crypto exchange-traded products, or ETPs, increasing by more than 90% in the last 30 days. The spike in the assets under management, or AUM, locked in crypto ETPs was noted in the latest report by Crypto Compare, which estimates that almost $36 billion is now invested in crypto ETPs — a…

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Treasury Secretary nominee says crypto has potential to improve the financial system

Janet Yellen added that she planned to encourage the use of digital assets for “legitimate activities.” U.S. President Joe Biden’s pick for Treasury Secretary Janet Yellen may see more benefits to cryptocurrency than her previous testimony indicated.  After a virtual hearing of the U.S. Senate Finance Committee held on Tuesday, Yellen hit the headlines for her answer to Democratic Senator Maggie Hassan’s question about how she would respond to “emerging financial technology” being used to fund criminal organizations and terrorists. Yellen referred to cryptocurrencies as a “growing concern” in the…

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Biden Administration Reported to Be Lining up a Former Ripple Advisor as the Next Bank Regulator

Micheal Barr, the former member of Ripple’s board of advisors, is set to become the United States’ next banking regulator, according to a report. A former assistant treasury secretary, Barr will become the second individual with crypto connections to lead the Office of Currency Comptroller (OCC.) The recently departed Currency Comptroller Brian Brooks is a former Coinbase executive. Biden Taps Comptroller With Crypto Ties According to a Wall Street Journal report, which cites anonymous sources, Barr’s likely appointment will be at the expense of Mehrsa Baradaran, a law professor. Still,…

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Pro traders buy the dip as bears push Bitcoin price to the edge of $30K

After correcting 15%, Bitcoin price dropped to $30,000 but derivatives indicators suggest pro traders are buying the dip. In the last 24-hours Bitcoin (BTC) price dropped 14% and tested the $32,000 support for the fifth time this year. Traders probably became even more worried as the price fell to $31,050 but at the time of writing the 4-hour chart suggests that the selling could be slowing down.  Currently the shorter-term charts indicate that Bitcoin is still flirting with bearish territory but a number of derivatives indicators and the top traders…

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