Crypto weekly update
10. March 2022  • clock 3 min •  Daniel Mitrovsky

Cryptocurrencies are attracting more and more women – Crypto weekly update

This week, the total market capitalization exceeded 1.57 trillion EUR. Decrease at the 7-day interval is 8.18 %. Bitcoin decreased by 11.8 % during the week to a current value of over 35,300 EUR. Bitcoin dominance is 42.6 %.

Source: Coinmarketcap

Cryptocurrencies are attracting more and more women

The latest study published by BlockFI, aimed at sentiment and interest in cryptocurrencies from the perspective of American women, has shown very positive results. According to the survey, 30% of American women said they will purchase digital assets by the end of 2022.

Digital assets have been gradually increasing in popularity over the years. However, it is worth noting that the industry has a significant gender gap as the majority of people that find the field intriguing are men.

However, the interest in cryptocurrencies from the perspective of women is gradually growing. 30% of the 1,031 surveyed women intend to enter the digital asset ecosystem by the end of 2022, while 60% of those plan to do that in the next 90 days. Overall, 14% of the participants believe bitcoin is a suitable long-term investment.

The survey also showed that 24% of the surveyed US women admitted owning digital assets, while 70% of those are HODLers (having bought over the years and still keeping their possessions).

Crypto awareness among females is also on the rise. 92% of the participants admitted having heard about bitcoin and the altcoins.

Together, we at Fumbi believe that the number of female investors in the cryptocurrency world will grow at a much faster pace in the coming years than before. Source

Švajčiarske Lugano bude akceptovať Bitcoin a Tether

The Swiss city of Lugano is aiming to become Europe’s Bitcoin capital city.

The city with roughly 70,000 habitants located in southeastern Switzerland has formed a partnership with stablecoin issuer Tether to establish bitcoin, Tether and Lugano’s own LVGA Points token as essentially legal tender in the city.

The move goes far beyond the actions of a number of other Swiss localities that for some time have been accepting crypto for tax payments. The city is now trying to come up with a new solution in which both residents and businesses will be able to use cryptocurrencies for everyday transactions.

At Thursday’s “Plan B” event, which was hosted by Lugano’s mayor, Michele Foletti, the move was described as a “de facto” legalization, as the Swiss franc will surely remain the actual legal tender in Lugano. Source

Market reacts to Yellen’s mistake

The cryptocurrency market has risen by 8 % in the last 24 hours in response to a leaked press release from the U.S. Secretary of the Treasury Janet L. Yellen, which outlines how the government plans to reign in the industry. The press release was not due to be published until Wednesday evening, but it probably accidentally saw the light of day earlier as expected.

The contents of the now-removed note suggest that the Biden administration will be taking a much more constructive approach as was expected.

The administration “will support responsible innovation that could result in substantial benefits for the nation, consumers, and businesses,” reads the press release.

Yellen also highlighted the importance of addressing risks related to the illicit use of cryptocurrencies and consumer protection, both of which have been hot topics for the administration when it comes to reigning in the industry. These objectives will be pursued via “interagency” collaboration, according to Yellen.

While a step forward by the government in this industry can be considered as “cautious”, the market probably expected something much worse, as it responded to leaked news with green candles. Source

Coinbase blocks over 25,000 addresses

Coinbase, a popular cryptocurrency investment platform, has said it has blocked over 25,000 addresses related to Russian individuals or entities believed to be engaged in illicit activity.

The exchange added that these accounts were identified through its own “proactive investigations” and that the addresses have been shared with the U.S. government to “further support sanctions enforcement.”

“In the past few weeks, governments around the world have imposed a range of sanctions on individuals and territories in response to Russia’s invasion of Ukraine. Sanctions play a vital role in promoting national security and deterring unlawful aggression, and Coinbase fully supports these efforts,“ Coinbase’s Chief Legal Officier Paul Grewal said in a blog post.

To provide this support, the exchange said it is taking steps to block access to sanctioned actors, detect attempts at sanctions evasion, and anticipate threats. This involves procedures that include checking potential customers against lists of sanctioned individuals or entities and tracking IP addresses belonging to sanctioned parts of the world, like North Korea and Russia. Source

Goldman Sachs opens the door to Ethereum

Financial services giant Goldman Sachs is now offering to its clients the option to invest in Ethereum through an Galaxy Digital’s Ethereum Fund, according to a new Securities and Exchange Commission filing.

Goldman Sachs clients keen on spot exposure to ETH have been offered space in Galaxy’s ETH Fund. It is unclear exactly how much Goldman clients have bought, but the minimum investment per investor is $250,000.

This is not the first time Goldman has partnered with Galaxy Digital. Last June, Goldman began offering Bitcoin futures trading via CME Group Bitcoin futures with Galaxy Digital providing liquidity. Source

Curiosity: Apple founder admires Bitcoin

Apple co-founder Steve Wozniak has lauded Bitcoin’s underlying mechanics in an interview with Business Insider, describing the cryptocurrency as being “the only one that’s pure-gold mathematics.”

Wozniak has long been an advocate of Bitcoin; in an interview with Mexican outlet ​​El Sol de Mexico last year, he described the world’s favorite cryptocurrency as a “mathematical miracle,” while speaking to Yahoo Finance, he hailed its “mathematical purity” and the fact that it “can’t be modified easily with humans in control of it, unlike the dollar.“

On the other hand, Wozniak was skeptical for NFT and several altcoins, describing them as “overvalued” and and pointing to a track record of “rip-offs” in an over-saturated market. Source

Start investing safely in cryptocurrencies now.

Start investing

Avatar photo

Daniel Mitrovsky


Share with others

More articles with Fumbi