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Robinhood provides USDC to the app
Robinhood, a preferred inventory buying and selling app, added Circle’s USDC stablecoin to its cryptocurrency choices for retail merchants on Tuesday.
The corporate added in a tweet the provide can even be out there on Wednesday for switch on the Polygon and Ethereum networks.
Robinhood’s itemizing of USDC signifies that the corporate is concentrating on abroad, the place using stablecoins is extra widespread and helpful to traders.
Crypto choices have elevated considerably on the platform lately, with Robinhood now providing a complete of 17 digital currencies.
Main Cryptos Languish Forward of Anticipated Price Hike
Flagship cryptocurrency Bitcoin hit a three-month low of $18,247 on Monday, worrying analysts and traders who predicted a rally after its fast decline from an all-time excessive of over $60,000.
Expectations of additional charge hikes from the Fed might be one of many predominant culprits for Bitcoin’s languishing state, as traders proceed to flee dangerous property.
The Federal Reserve is anticipated to boost charges by three-quarters of a share level for the third straight time this week in an effort to rein in inflation.
Ether, the second largest cryptocurrency, shouldn’t be doing a lot better after the long-anticipated “Merge” improve, hitting a two-month low of $1,280 on Monday.
Nasdaq takes a step in the direction of cryptocurrencies
The Nasdaq, the second largest inventory dealer within the US, is taking its first step in the direction of adopting cryptocurrencies.
In a press launch on Tuesday, the corporate introduced that it’s beginning a crypto custody service because it goals to money in on demand from institutional crypto traders.
Nasdaq will compete with cryptocurrency change Coinbase and cryptocurrency custodians Anchorage Digital and BitGo in holding bitcoin and ether for institutional shoppers within the US.
The pinnacle of Nasdaq’s new digital property unit, Ira Auerbach, mentioned that Nasdaq is open to working with native cryptocurrency companies, although it has no acquisition plans within the close to time period, in accordance with a report by Bloomberg.
Former Treasury Secretary to talk at this 12 months’s AIM Summit
Lawrence Summers, an American economist who served as US Secretary of the Treasury from 1999 to 2001 underneath Invoice Clinton, in addition to Director of the Nationwide Financial Council from 2009 to 2010 underneath Barack Obama, will provide his views on the worldwide economic system. and monetary markets through the thirteenth version of the AIM Summit that can happen on November 21 and 22 in Dubai.
This 12 months particular emphasis is positioned on the present world economic system, inflation, stagflation and recession. Summers will present his standpoint on why the US is probably going headed for a recession within the subsequent two years and talk about how globalization, commerce, and expertise will play a crucial function in the way forward for the worldwide economic system. Summers can even share his views on crypto and blockchain.
The conflict in opposition to cryptocurrencies begins