Acting Comptroller of the Currency Brian Brooks — soon to be confirmed in the role full time — has revealed another way for U.S. crypto custody providers to receive a charter to operate as a federally-approved bank.

In a Nov. 17 interview with Forbes, Brooks stated that there are currently three methods for payment companies to become a federally chartered bank. The first option is to apply for a non-depository national bank charter, and the other two are to buy a depository institution or apply for a National Trust Bank charter.

But Brooks said the Office of the Comptroller of…


Despite a pull back from the meteoric bull market for decentralized finance, the average DeFi token return has vastly outperformed Bitcoin and Ethereum. The median performance is a different story however.

On Nov. 17, pseudonymous crypto analyst ‘Ceteris Paribus’ shared data with his 12,000 followers compiling the YTD median and average performances of 40 top crypto assets, comprised of 38 top DeFi assets, Bitcoin (BTC) and Ether (ETH). Around 26 of the DeFi assets are currently posting YTD gains.

The analyst found that the median return sits around 148.8%, which is 15.5% above Bitcoin’s 133.3% YTD gain. So half of…


Cryptocurrency fund manager Grayscale Investments now holds more than 500,000 BTC in its Bitcoin Trust.

According to a Nov. 16 post, Grayscale now holds to $8.35 billion worth of Bitcoin — equating to 2.69% of Bitcoin’s (BTC) outstanding supply and market cap.

But with Chainalysis estimating that around 3.7 million BTC have been lost, Grayscale may actually now be in possession of 3.37% of Bitcoin’s remaining circulating supply

Appealing to institutional investors who are prepared to pay a premium to buy and hold cryptocurrency through the security of a regulated fund, shares in the Grayscale Bitcoin Trust currently represent $15.62…


Over the weekend numerous traders pointed out that Bitcoin (BTC) price broke its parabolic uptrend which had dated back to September. Technical analysts are bracing for a pullback as the dominant cryptocurrency eyes consolidation.

Bitcoin could still see a strong recovery after the weekly close if there is a continuation of the rally. But it would need to quickly re-enter the parabola or risk a potential downward correction.

Traders pinpoint $15,500 as the key level to maintain the bull run

Since early September, Bitcoin has continuously rallied without major corrections. Typically, during bull trends, BTC historically saw 20% to 30%…


Bitcoin price at $16,000 and beyond? Here are the bear and bull cases
We’re undoubtedly in a bull market right now. This week, Bitcoin hit $16,000 for the first time in years.

Even this weekend’s volatility hasn’t been enough to derail BTC’s momentum. Although prices abruptly dropped to $15,670 overnight on Sunday, traders quickly stepped in to defend $16,000.

It is exceptionally rare for Bitcoin to perform this well. The world’s biggest cryptocurrency has only closed above $16,320 on 12 days in its history — just 0.28% of the time.

Naturally, the question now is whether BTC’s strength will remain…


Bitcoin once promised that it would help realize the lofty goal of making individuals “their own bank.” To understand the many services that banks truly provide is also to realize how preposterous this claim was in 2008, when Bitcoin’s white paper made it. More than a decade later, the grandfather cryptocurrency is still on the peripheries of traditional finance, yet the decentralized industry that it has spawned can indeed replicate many financial services on the blockchain, all of which were formerly exclusively in the realm of banks.

Is DeFi banking?
Decentralized finance (DeFi) has quickly become a buzzword. By allowing people…


While many decentralized finance (DeFi) tokens suffered heavy losses last month — prompting hastily written obituaries about the DeFi “bubble” — metrics measuring user activity saw sustained sector-wide growth.

According to crypto market data aggregator Dune Analytics, the total number of unique DeFi user-addresses is around 860,000, an increase of roughly 10 times over the past year. Note: that’s a cumulative figure and users might have more than one address.

Despite many DeFi tokens shedding significant value last month, the sector’s user-count increased by nearly 40%, from roughly 555,000 to 775,000, during October.

A further 85,000 users joined DeFi during…


Top-20 crypto asset by market cap Tezos (XTZ) has successfully completed its latest upgrade, “Delphi,” which aims to reduce smart contract gas fees by 75% to attract decentralized finance (DeFi) developers to build on top of its blockchain.

Delphi was proposed on Sept. 3. It’s a joint undertaking from Nomadic Labs, Metastatic, and Gabriel Algour intended to “help individuals developing smart contracts on Tezos.”

According to a joint post from Delphi’s developers the upgrade is “crucial to enable novel applications on Tezos that target areas like DeFi, collectibles, and gaming.”

“The size and complexity of smart contracts is limited by…


On Thursday, PayPal’s crypto trading and payments went live for all eligible customers in the United States.

Per its updated announcement, PayPal ended its waitlist for customers looking to use cryptocurrency in the U.S. Trading features a limit of $20,000 per week, which is double the originally announced $10,000.

PayPal ultimately plans to make crypto payments available at 26 million merchants globally.

A representative told Cointelegraph that PayPal will notify U.S. customers about the general availability of crypto services in the coming days.

Dan Schulman, CEO of PayPal, noted that the shift to supporting crypto was driven by what he…


Institutional money appears to be flowing into the decentralized finance (DeFi) sector, with Yearn Finance (YFI) among the top beneficiaries.

According to crypto market data aggregator IntoTheBlock, on-chain transactions of $100,000 or higher have increased by 282% over the past week — including nearly $134 million worth of activity on Nov. 10 alone.

According to crypto market analysis firm Messari, YFI was the top performing DeFi asset of the past week, followed by yAxis with a 78% gain, Loopring with 50%, and Akropolis and Curve with 49% each. …

Sofia - The next generation bank

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