Crypto Weekly: not feeling the chill
STORY: From why bitcoin’s big slide doesn’t deter all investors, to a royal fan for crypto, we round up the week’s big stories in the world of virtual money.
Bitcoin’s long winter remains chilly, but that isn’t putting off all investors.
Of 180 exchange-traded products in crypto, Morgan Stanley says more than half launched after the bear market began.
That’s despite the value of assets in the market slumping 70% over the period.
Most of those funds are focused on the big two - bitcoin and ether - with investors seemingly still ready to bet on long-term success for the coins.
Crypto has a new royal fan.
Queen Maxima of the Netherlands has advocated for central bank digital currencies, or CBDCs.
Speaking at the IMF annual meeting in Washington, she said such e-coins could be good for marginalized communities and those without access to bank accounts.
"CBDCs could help provide the best of both worlds: encouraging providers to lower costs and unburden access, while also incorporating the advantages of Central Bank money, such as safety, finality, liquidity and integrity.”
Around 90% of the world’s central banks are now experimenting with or considering such coins.
And crypto.com has chosen Paris for its European base.
The trading platform will invest almost $146 million to set up there.
Crypto.com has more than 50 million users worldwide, and won regulatory approval from Paris last month.
Rival Binance is also seeking a French base.
