Crypto Market Updates: Robinhood Settles California Investigation, Ether Underperforms Bitcoin, Peter Schiff Criticizes Bitcoin ETFs, XRP Listed by Major Japanese Exchange, and DWF Labs Designs Synthetic Collateralized Stablecoin
The cryptocurrency market is constantly evolving, with new developments and updates emerging regularly. In this blog post, we'll delve into the latest news and trends affecting the crypto space, from regulatory actions to market analysis and innovative solutions.
Robinhood Settles California Crypto Investigation
American investment firm Robinhood has settled a California crypto investigation and agreed to pay a $3.9 million fine. The settlement comes after the state Department of Justice investigated 'questionable behavior' by Robinhood, specifically its restrictions on customer crypto withdrawals from 2018 to 2022.
Read more about Robinhood's settlement on Watcher.Guru.
Ether Underperforms Bitcoin
According to CryptoQuant analysts, Ether has underperformed bitcoin by as much as 44% since Ethereum's switch to proof-of-stake almost two years ago. The analysts attribute this underperformance to weaker network activity dynamics and growing supply of ether.
Learn more about Ether's underperformance on The Block.
Peter Schiff Criticizes Bitcoin ETFs
Peter Schiff, a well-known financial expert and investor, has again criticized Bitcoin ETFs, stating that their recent performance shows the hype surrounding them is misguided.
Read Peter Schiff's criticism of Bitcoin ETFs on U.Today.
XRP Listed by Major Japanese Exchange
XRP has been added as a supported asset by CoinCheck, a major Japanese exchange. This development could potentially increase XRP's liquidity and adoption in the Asian market.
Learn more about XRP's listing on U.Today.
DWF Labs Designs Synthetic Collateralized Stablecoin
DWF Labs has designed a synthetic collateralized stablecoin, backed by various assets including USDT, USDC, DAI, USDE, bitcoin, ether, blue chip tokens, and long-tail altcoins.
Read more about DWF Labs' synthetic collateralized stablecoin on The Block.
Conclusion
The cryptocurrency market is constantly evolving, with new developments and updates emerging regularly. From regulatory actions to market analysis and innovative solutions, it's essential for investors and enthusiasts to stay informed about the latest news and trends affecting the crypto space.