On this week’s The Market Report show, Cointelegraph’s resident experts discuss if the potential collapse of the Credit Suisse bank could bring more volatility in the crypto market. To kick things off, we break down the latest news in the markets this week: BTC price still not at ‘max pain’ Bitcoin (BTC) starts a new week in a precarious place as global macro instability dictates the mood. After sealing a weekly close just inches above $19,000, the largest cryptocurrency still lacks direction as nerves heighten over the resilience of the global financial system. Europe still seems to be at the …

SWIFT is a payments colossus. It operates across more than 200 countries, has 11,000-plus financial institution clients and transmits some 8.4 billion financial messages every year. It is the global leader in cross-border bank-to-bank payments and recently played a key role in the West’s economic sanctions on Russia. That doesn’t mean the Belgium-based cooperative is immune to disruption tremors, however. Critics have long maintained the interbank messaging system, founded in the 1970s, is “old, inflexible, slow, and increasingly prone to cyberattacks.” In May, Mastercard CEO Michael Miebach cast doubt upon SWIFT’s ability to survive the next five years. Meanwhile, it …

The financial service provider Mastercard will launch a new crypto service related to risk management on Tuesday Oct. 3. Mastercard’s new service, Crypto Secure, is aimed to help banks find and prevent fraud on crypto merchant platforms. Crypto Secure combines the usage of artificial intelligence, blockchain data and public records of crypto transactions, along with other sources, to determine crime-related risks of crypto exchanges within the Mastercard network. Mastercard already has a similar service with fiat currency transactions available to banks. The president of cyber and intelligence business for Mastercard, Ajay Bhalla, said this development helps its partners stay compliant …

Bitcoin (BTC) starts a new week in a precarious place as global macro instability dictates the mood. After sealing a weekly close just inches above $19,000, the largest cryptocurrency still lacks direction as nerves heighten over the resilience of the global financial system. Last week proved a testing time for risk asset investors, with gloomy economic data flowing from the United States and, moreover, Europe. The Eurozone thus provides the backdrop to the latest concerns of market participants, who are watching as the financial buoyancy of major banks is called into question. With the war in Ukraine only escalating and …

Bitcoin (BTC) failed to hold $20,000 into the September monthly close as one trader eyed a final comeback before fresh downside. Trader's $20,500 upside target remains Data from Cointelegraph Markets Pro and TradingView showed BTC/USD staying lower after finishing the month at around $19,400. Capping 3% losses, the monthly chart failed to rally on Oct. 1, with BTC/USD down another 0.7% in “Uptober” so far, according to data from on-chain data resource Coinglass. Dismal financial data from macro markets contributed to the lack of appetite for risk assets, and among crypto traders, the outlook remained gloomy. For popular Twitter account …

How do cryptocurrency investments impact the broader crypto-economy? Although the cryptocurrency market appears to grow in a positive feedback loop, that does not mean that (un)expected events may not impact the trajectory of the ecosystem as a whole. Although blockchain and cryptocurrencies are fundamentally meant as ‘trustless’ technologies, trust remains key there where humans interact with one another. The cryptocurrency market is not only impacted by the broader economy, but it may also generate profound effects by itself. Indeed, the Terra case shows that any entity — were it a single company, a venture capital firm or a project issuing …

The paths of traditional finance and the cryptocurrency industry have intersected again, with a crypto startup coming to save the iconic Euro monument in Frankfurt. Frankfurt-based crypto startup Caiz Development will provide 1 million euros, or about $961,000, in funding over the next five years to rescue the famous Euro sculpture. Announcing the news on Tuesday, Caiz said that the firm saw a good marketing opportunity in supporting the sculpture by obtaining unique exposure. Through the funding, the firm was able to put its product board next to the 14-meter-high euro sign bearing 12 yellow stars, which represent the original …

Interbank messaging system SWIFT has partnered with price oracle provider Chainlink (LINK) to work on a proof-of-concept (POC) project which would allow traditional finance firms the ability to transact across blockchain networks. Chainlink co-founder Sergey Nazarov announced the project at its SmartCon 2022 Conference in New York on Sept. 28 alongside SWIFT strategy director Jonathan Ehrenfeld Solé. SWIFT is using the Cross-Chain Interoperability Protocol (CCIP) in an initial proof of concept. CCIP will enable SWIFT messages to instruct on-chain token transfers, helping the SWIFT network become interoperable across all blockchain environments.https://t.co/8GOBNhzwCk pic.twitter.com/Pvm0Cex45e — Chainlink (@chainlink) September 28, 2022 At the …

The Southeast Asian nation of Vietnam now ranks among the top nations adopting cryptocurrencies. Indeed, the country has ranked first on Chainalysis’ Global Crypto Adoption Index for two years in a row. Chainalysis’ research methodology took into account population-adjusted adoption in crypto platforms ranging from centralized exchanges to peer-to-peer (P2P) payment networks. Web traffic to major crypto networks was analyzed to determine countries with the highest interest and adoption percentages. That said, Vietnam’s high adoption rate is a puzzling phenomenon, begging the question: Why is crypto adoption so high in the country? No cryptocurrency taxes There are numerous reasons why …

Until 2020, most of the crypto market action was largely driven by retail enthusiasm. It was only around August 2020 that institutions started to participate meaningfully in this asset class. As the United States Federal Reserve unleashed trillions of dollars of liquidity into the market during the COVID-19 pandemic, retail and institutional investors jumped onto the cryptocurrency bandwagon. While crypto loyalists claim large-scale institutional adoption over the last couple of years, the entire asset class is only around $1 trillion in size. That is quite small when compared to the gold market of $11 trillion and the bond market of …

Israeli-based crypto exchange Bits of Gold became the first crypto firm in the country to receive a license from the Capital Markets Authority according to social media posts from the company on Sept. 18. As a result of attaining the license, Bits of Gold will be able to store digital currencies through secured custody in a “Bits of Gold Wallet” they have been working on for some time. It will also start providing a service that enables banks and other financial institutions to connect to its digital asset services. In a public statement, Bits of Gold said that the license …

The global digital bank FV Bank is the latest financial platform to enable deposits in Circle-backed stablecoin USD Coin (USDC). FV Bank on Wednesday announced the launch of a new service allowing its account holders to make direct deposits in USDC to the bank’s U.S. dollar accounts. The new feature enables customers to receive USDC on their accounts similar to traditional deposits like wire or the automated clearing house network. According to the announcement, received USDC funds are instantly and automatically converted into the U.S. dollar (USD) at the moment of deposit. This new solution allows FV Bank users holders …