Morgan Stanley, one of the largest banks in the United States, is setting up a new crypto-focused research division. The Wall Street megabank has appointed Sheena Shah as lead cryptocurrency analyst for its dedicated cryptocurrency research team, Bloomberg reported on Monday. Shah worked as Morgan Stanley’s lead currency strategist covering G10 currencies for more than eight years and contributed to the bank’s crypto-related research efforts. In the new role, Shah will reportedly focus on analyzing the impact of cryptocurrencies on equities and fixed-income investments such as treasury and corporate bonds. Announcing the news in a memo to staff, Morgan Stanley’s …
Despite Bitcoin’s (BTC) price growing 45% over the past 30 days, cryptocurrency investors are not moving their holdings, according to new data. Blockchain analytics provider Glassnode released its new “The Week On Chain” report on Monday, noting that Bitcoin has continued rallying to new multi-month highs despite divergence in on-chain activity during the week ending on Monday. The report discovered that Bitcoin on-chain activity, such as the amount of entity-adjusted transactions, has still not responded to the ongoing bullish action, remaining at historically low levels of between 175,000 and 200,000 daily transactions. Bitcoin on-chain activity dropped this low after May …
A survey released by the Pew Research Center on Thursday found that roughly 16% of Americans have invested, traded or used some form of cryptocurrency. The number jumps to 31% for people aged 18-29, and even higher to 43% for specifically males in the same age bracket. Black, Hispanic, and Asian participants in the study were also each more likely to have invested in crypto than those who identified themselves as white. There seems to have been no disparity by income. Pew Research Analyst Andrew Perrin said: “We do see now that a large share of the American public has …
The Human Rights Foundation announced on Jan 4 that it intends to distribute 425 million satoshis — the smallest divisible unit of a Bitcoin — to various contributors as a part of its ongoing Bitcoin Development Fund. Launched in May 2020, the Bitcoin Development Fund launched with a primary focus on improving the Bitcoin network’s privacy, usability and security. The foundation said that it will focus this particular round of grants on expanding Bitcoin education and translation as well as Bitcoin core, lightning, and wallet development. According to the organization’s press release, it will divide these grants between a number …
The United States Securities and Exchange Commission’s chairperson Gary Gensler announced this month that the crypto industry should not escape the purview of the regulator. He highlighted that decentralized finance (DeFi) trading and lending protocols need particular attention when it comes to investor protections. Regulation can extend into a menu of options that covers custody, reporting, counterparty verification and asset classification and issuance. Reports are surfacing that people are waiting with bated breath on how the SEC will regulate the DeFi industry, but Germany's Federal Financial Supervisory Authority, also known as BaFin, has found a way to apply existing securities …