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In collaboration with Covalent Issue 20 April 9 – 22, 2021
Market Insights
0.68% 56% $64,511
of Fei Protocol of Fei genesis value is no Bitcoin all-time-high on
genesis participants longer held or staked by April, 14 on Binance
contributed 50% of ETH the original contributors
COINTELEGR APH CONSULTING MARKET INSIGHTS ISSUE 20
Beyond Coinbase Going Public: Major Events Between April 9 – 22
Key Takeaways VС Overview
With roughly $245 million raised in 10 VC funding rounds in the last two
weeks, just one deal made up 49% of the total capital allocated.
ā The largest US cryptocurrency exchange Coinbase stole the show these weeks by going
public on April 14. With the shares' opening price 1.5 times higher than the reference
213 million
price for listing, the crypto exchange outstripped traditional exchanges like ICE and
Nasdaq by market capitalization on the first day of trading. Yet, the debut turned out
28 Aleo
to be a rocky start, and the discussion around Coinbase management offloading their
shares added fuel to the fire.
The race for registering a Bitcoin ETF in the US has stalled as the SEC is reviewing the 31.3 million
65 ConsenSys
ā
applications. Meanwhile, the Bitcoin ETF by Canada-based 3iQ went live on the Toronto
5 Enso Finance
Stock Exchange. Canada also went all-in on Ethereum ETFs as regulators approved
three ETFs by Purpose Investments, Evolve ETFs, and CI Global Asset Management.
5 Virture Poker
ā DeFi has its own Coinbase-like story: Fei Protocol has made a $1.3 billion damp squib 2.4 TeraBlock
120 Daml 2 Step Finance
albeit unprecedented demand. The data suggests that the Fei Protocol genesis was
dominated by whales, with 50% of ETH committed by only 120 addresses, a small 3.5 Pendle Finance
fraction of participants. Almost three weeks later, more than a half of the originally
4 Tokemak
committed capital is no longer held or staked by the original contributors.
ā Both Bitcoin and Ethereum hit their ATH these two weeks. However, BTC ATH at 9.4 Sheesha Finance
$64,511 was followed by a plunge on April 18, and the currency is now trading at
$55,000. Ethereum also experienced a price drop after reaching the $2,500 level, but it
has just set up a new record of over $2,570 on Binance. Blockchain infrastructure Trading & DeFi
2
A Star Was Born? A Closer Look at Fei Protocol Genesis
Market Analysis FEI Protocol Genesis Event
Following the Fei Protocol damp squib in the beginning of April, much ink has
been spilled on the doomed design of the FEI stablecoin and the possible ways
to recover. This week’s article adds up to the discussion as it sheds light on
how the post-genesis drama unfolded, by the numbers.
Three weeks ago, the Fei protocol introduced an Ethereum-backed stablecoin.
The project behind the FEI stablecoin raised 639,000 ETH worth roughly $1.3
billion at the time of genesis. Fei Protocol genesis is among the largest launches
in DeFi, with over 17,000 unique users involved. Spoiler: the protocol turned
out to be a damp squib.
FEI stablecoin uses a dynamic burning mechanism to maintain the correct peg.
To put it simply, the crucial feature of the protocol is that it tries to prevent
people from selling FEI when the stablecoin is trading below the peg. And the
further the FEI price is getting away from the peg, the bigger is the penalty for
selling FEI.
At the time of writing, 1 FEI costs $0.89, and the penalty for selling would be
calculated as (($1 − $0.89) × 100)^2, which is equal to a whopping $1.21. Talking
about this penalty system is important because it was designed to prevent
users from quitting early. But did it really work?
To start with, we compared wallet size and genesis contribution size for each
of the 17,567 users to reveal who were the users that backed the genesis. One
would expect that the genesis participants would contribute ETH in proportion
to their wallet size. That is, the participants with $10M+ in their wallets would
have to contribute the most capital. Accordingly, the two visuals would have
to look similar, but they don’t.
In fact, data suggests that the participants with larger wallets allocated smaller
fractions of their portfolios for Fei, whilst the users with smaller wallets bet on
the Fei protocol more heavily than the so-called whales.
4
Market Analysis FEI Protocol Genesis Event
Some obvious trends come to light if we examine how
different groups of participants committed ETH. The largest
group in terms of number of contributors, accounting for 43%
of the total participants, was within the $500 – $5,000 wallet
size range. But this group committed just a small fraction of
the total contributions, which made up only 1.24% of ETH
raised.
In contrast, the largest group in terms of contribution,
accounting for 30.45% of contribution value, or roughly
$380M, was the group holding $1M to $5M in their wallets. The
Number of Contributors
$USD Value Contributed
users within this range represent only 1.13% of contributors.
Moreover, 50% of capital was contributed by only 120
addresses, with each address allocating over $1M. Together,
these users contributed over $600M in ETH. Clearly, the
market was dominated by whales during the genesis event.
1 2 3 4 5 6 7 8 9 10 1 2 3 4 5 6 7 8 9 10
Group (by ETH Contributed)
This analysis was prepared by Covalent, a blockchain data indexer that provides APIs to
Learn more
support use cases such as network analysis, wallet management, and tax documentation.
5
Market Analysis FEI Protocol Genesis Event
With over $1 billion committed, Fei Protocol genesis drew a
lot of attention in the DeFi community. This is the result of the
two entwined factors of the bonding curve design and the
TRIBE governance token airdrop.
The Fei Protocol issuance mechanism is built on a bonding
curve, which means the more ETH is committed, the higher
the FEI price. The bonding curve started at $0.5 for 1 FEI,
which is equal for participants to buy $1 for $0.5. The situation
triggered excessive demand. Still, for the majority of genesis
TRIBE Distributed at Genesis
event participants FEI cost more than the hoped-for $0.5.
FEI Distributed at Genesis
Eventually, some participants paid the maximum price for FEI,
which is $1.01.
The users were also incentivised to participate in genesis with
TRIBE governance token airdrop. With supply limited to 100M,
TRIBE was distributed a pro-rata percentage of the allocation
in FEI, pushing some participants to commit more ETH.
Pre-swapping FEI for TRIBE was also allowed, so some users
1 2 3 4 5 6 7 8 9 10 1 2 3 4 5 6 7 8 9 10 could make an additional bet on the protocol governance
Group (by ETH Contributed) token. Users could pre-swap any percentage of their Genesis
allocation. The data shows that the larger contributors opted
to receive about double the FEI/TRIBE when compared to
the smaller groups. Whales were hungry for the protocol
governance tokens, and they got what they wanted.
6
Market Analysis FEI Protocol Genesis Event
Almost three weeks after Fei genesis, the data suggests a
decrease in value held by genesis participants in each group.
That means that despite significant burn penalties, the genesis
addresses are no longer holding the tokens, providing liquidity
with them, or staking them. Among other reasons, they may
have transferred the tokens to a different address, or sold
them on the market, which added to the difficulties of the FEI
stablecoin peg.
All groups sold between 40% and 60% of their genesis value
for a total decrease of 56%. The users holding $100k to $500k
in their addresses turned out to be the biggest contributors to
the post-Genesis FEI sell pressure, with roughly 65% of their
genesis value sold. Notably, the group with the smallest wallet
size came second in quitting the protocol, and overall the
users with less capital (groups 5 to 10) were a bit more likely to
get rid of FEI than whales (groups 1 to 4).
7
Market Analysis FEI Protocol Genesis Event
Circling back to the comparison between FEI-Genesis
contributions and user wallet size, we can do a post-genesis
comparison. Since the very protocol genesis, FEI has struggled
to restore the peg, while TRIBE has gone off the rails at $1.33,
down 43% from its peak on April, 4.
After almost three rocky weeks for the Fei protocol, the total
value held by genesis participants has decreased significantly.
The following visual includes $192M of LP tokens that are held
by the FEI staking contract, but are owned by the genesis
contributors. There is also about $20M that has been added
as liquidity on Uniswap by Genesis addresses and not staked
with the FEI protocol.
What is important, the distribution has stabilized relative to
wallet size, so there are not as many clear outliers as during
Fei genesis.
8
Market Analysis BTC Daily Exchange Trading Volume and Price
ý The BTC price crashed from $60,600 to $56,200 on April 18,
when the BTC trading volume exceeded $90 billion for the
first time since February 26, when this parameter surged to
over $350 billion, which is the highest BTC trading volume
ever recorded.
ý On April 13, when the BTC closing price set an all-time high,
the daily trading volume almost reached $70 billion.
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Market Analysis BTC 30-day Annualized Volatility and Price
ý BTC 30-day annualized volatility decreased to as low as 50%
on April 17, but a plunge of the BTC price on the following
day sparked an increase of the volatility to over 60%.
ý A failure of the BTC price to gain a foothold at above $60,000
pushed the annualized volatility up thereby stopping the
declining trend that started 6 weeks ago.
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10Market Analysis BTC – DXY
ý DXY has dropped from 93 on April 1 to 91.5 on April 16, and
during this period BTC – DXY moving average correlation was
staying in the range between −0.25 and −0.1.
30-day MA correlation BTC–DXY
ý BTC – DXY moving average correlation peaked at −0.1 on
April 12, when BTC closed at just under $60.000 before
breaking through this milestone thereby causing the moving
average correlation to decrease.
11Market Analysis BTC – Gold
ý The BTC – Gold moving average correlation kicked off from
the bottom at −0.01 on April 5 before both Gold and BTC
started to go up in price.
30-day MA correlation BTC–Gold
ý In the beginning of March Gold showed small growth and
BTC remained fluctuating at just below $59,000, which led to
correlation turning negative once again.
12Market Analysis BTC – S&P 500
ý Both the BTC and the S&P 500 index have been on the rise
since the beginning of April, which resulted in an increase
of the BTC – S&P 500 moving average correlation to 0.52 on
30-day MA correlation BTC–S&P 500 April 16.
ý Current value of the BTC – S&P 500 moving average
correlation is just 0.02 lower than its 3-month peak value
reached on March 19 at 0.54.
13Market Analysis BTC – ETH
ý BTC and ETH set all-time highs on April 15, closing at $63,313
and $2,519 accordingly. The BTC – ETH moving average
correlation was just under 0.8.
30-day MA correlation BTC–ETH
ý The BTC – ETH moving average correlation returned to
a 0.8+ level on April 16, in the following three days both
cryptocurrencies lost about 10% of their values.
14Institutional, Venture Capital & M&A, Professional Blockchain and Regulatory Activities
Institutional Activities
Coinbase's COIN stock trading on Nasdaq is off Meitu now holds $100 million in BTC and Ether Canadian Bitcoin ETFs quickly hit $1.3B in AUM
to a rocky start after latest Bitcoin purchase while US acceptance lags
Trading on Coinbase’s COIN stock China tech company Meitu has taken The Purpose Investments ETF, the
began on the Nasdaq on April 14. the total value of its cryptocurrency first Bitcoin exchange-traded fund to
COIN started trading higher than holdings to approximately $100 launch in North America, has seen its
the $250 reference price assigned million after the firm disclosed the assets under management soar to
by Nasdaq prior to the market open, purchase of an additional 175 units $1.1 billion less than two months
peaking at over $400 before plunging of Bitcoin for a combined price of after launching. Two other Bitcoin
to the level of just above $300. $10 million. ETFs that launched shortly after Purpose’s in Canada have also
seen their AUM’s swell to a combined $200 million in the
APR 14, 2021 Visit Page APR 09, 2021 Visit Page
same time period.
APR 14, 2021 Visit Page
ETH bonanza as three North American You can already invest in hundreds of ETFs with Bitcoin ETF from 3iQ and Coinshares goes live in
Ethereum ETFs approved in one day exposure to Bitcoin Canada
Purpose Investments, Evolve ETFs, Numerous United States exchange- Canada-based investment fund
and CI Global Asset Management traded funds are purchasing the manager 3iQ’s Bitcoin exchange-
were all approved by Canadian world’s top crypto firms: 88 ETFs traded fund created in partnership
regulators to launch Ethereum- hold MicroStrategy shares, 144 with CoinShares started trading
backed ETFs on April 20. The ETFs ETFs hold Square, while 222 ETFs on the Toronto Stock Exchange on
will be the first ETH ETFs in North hold Tesla and 16 ETFs have direct April 20. The fund’s units are trading
America, and among the first in the exposure to Bitcoin mining stocks. in U.S. dollars under the ticker “BTCQ.U” and Canadian dollars
world. under the ticker “BTCQ.”
APR 15, 2021 Visit Page
APR 17, 2021 Visit Page APR 19, 2021 Visit Page
16Institutional Activities
Rothschild Investment Corp snaps up quarter of Cathie Woods' Ark buys a further $110M worth Gold-as-a-currency: Kinesis launches
a million shares in Grayscale ETH Trust of Coinbase shares government-backed monetary system in
Chicago-based financial institution The Ark Innovation ETF, Ark Next Indonesia
Rothschild Investment Corp, Generation Internet ETF and Ark Kinesis, a gold-backed monetary
has acquired 265,302 shares in Fintech Innovation ETF purchased system based in the Cayman Islands,
Grayscale’s ETH trust and has also a combined total of over 300 has launched a Sharia-compliant
increased its tally in Grayscale thousand Coinbase shares, valued version of its product PosGO
Bitcoin Trust by 26% from 30,454 at $110 million at the close of trading Syariah. Delivered as a mobile
in January up to 38,346 in April. on Thursday, with each share valued application, PosGO is a digitized
at $322.75. physical gold trading platform that also allows users to conduct
APR 16, 2021 Visit Page
real-time, peer-to-peer transfers of gold and fiat currency.
APR 16, 2021 Visit Page
APR 15, 2021 Visit Page
UK hedge fund reportedly plans to invest $84M
in crypto
Brevan Howard Asset Management
will reportedly be allocating 1.5% of
the $5.6 billion in its main hedge fund
to crypto — roughly $84 million. The
asset management firm will allegedly
be focusing on “a wide range” of
cryptocurrencies in addition to
Bitcoin.
APR 15, 2021 Visit Page
17Venture Capital and M&A Activities
Daml smart contract language creator raises JPMorgan, Mastercard, UBS lead $65M Andreessen Horowitz leads $28M Aleo raise
$120M in Series D financing ConsenSys raise
Investors: 7Ridge and Eldridge Investors: JPMorgan Chase, Mastercard, UBS, Protocol Labs, Investors: Andreessen Horowitz, Coinbase Ventures, Galaxy
Maker Foundation and Alameda Research Digital, Variant Fund, Polychain Capital etc.
Funded company: Digital Asset
Business scope: Smart contract programming language Funded company: ConsenSys Funded company: Aleo
Headquarters: The U.S. Business scope: Blockchain software Business scope: Privacy-focused blockchain
Headquarters: The U.S. Headquarters: The U.S.
Announcement date: April 21, 2021
Deal amount: $120 million Announcement date: April 13, 2021 Announcement date: April 21, 2021
Deal amount: $65 million Deal amount: $28 million
APR 21, 2021 Visit Page APR 13, 2021 Visit Page
APR 20, 2021 Visit Page
18Venture Capital and M&A Activities
ConsenSys-backed poker platform secures $5M DeFi mutual fund Sheesha Finance raises $9.4M Is DeFi yield appetite rising again? Enso raises
investment $5M as YFI hits new highs
Investors: ConsenSys, Pantera Capital Funding mechanism: Public token sale Investors: Polychain Capital, Multicoin Capital Synthetix
founder Kain Warwick, Aave founder Stani Kulechov, Dfinity
Funded company: Virtue Poker Funded company: Sheesha Finance
chief operating officer Artia Moghbel etc.
Business scope: Decentralized poker platform Business scope: Decentralized finance mutual fund
Headquarters: Malta Headquarters: United Arab Emirates Funded company: Enso
Business scope: Platform for sharing strategies
Announcement date: April 12, 2021 Announcement date: April 13, 2021
Headquarters: Switzerland
Deal amount: $5 million Deal amount: $9.44 million
Announcement date: April 16, 2021
Deal amount: $5 million
APR 12, 2021 Visit Page
APR 13, 2021 Visit Page APR 16, 2021 Visit Page
19Venture Capital and M&A Activities
Tokemak raises $4M from Framework and DeFi Pendle Finance raises $3.5M to launch TeraBlock exchange raises $2.4M to develop
investors to build a ‘liquidity reactor’ secondary market for DeFi yields crypto newbie-friendly interface
Investors: Framework Ventures, Electric Capital, Coinbase Investors: CMS, DeFi Alliance, Lemniscap, Hashkey Capital, Investors: AU21 Capital, Blockchain.com, Blocksync Ventures,
Ventures, North Island Ventures, Delphi Ventures and imToken, Spartan Group etc. BTX Capital, CryptoDormFund etc.
ConsenSys
Funded company: Pendle Finance Funded company: TeraBlock
Funded company: Tokemak Business scope: Decentralized finance protocol Business scope: Cryptocurrency exchange
Business scope: DeFi infrastructure Headquarters: The U.K.
Announcement date: April 16, 2021
Headquarters: The U.K.
Deal amount: $3.5 million Announcement date: April 19, 2021
Announcement date: April 21, 2021 Deal amount: $2.4 million
Deal amount: $4 million
APR 20, 2021 Visit Page APR 16, 2021 Visit Page APR 19, 2021 Visit Page
20Venture Capital and M&A Activities
Publicly traded First Foundation invests in Deutsche Telekom invests in mobile DeFi
NYDIG as belief in digital assets grows platform Celo
First Foundation Inc, a publicly Deutsche Telekom has invested in
traded financial services provider, Celo, an open-source blockchain
has made a strategic investment ecosystem focused on enabling
into New York Digital Investment access to DeFi systems and tools via
Group. The partnership will allow smartphone. In conjunction with the
First Foundation to offer clients investment, Deutsche Telekom has
secure pathways to investing in digital assets. joined the global Celo Alliance for Prosperity.
APR 20, 2021 Visit Page APR 20, 2021 Visit Page
DeFi tracker Step Finance raises $2M from
Solana ecosystem investors
Investors: Alameda Research, Raydium, One Block, 3 Commas
Capital and Solidity Ventures
Funded company: Step Finance
Business scope: Decentralized finance protocol
Headquarters: The U.S.
Announcement date: April 13, 2021
Deal amount: $2 million
APR 13, 2021 Visit Page
Cointelegraph Consulting
Cointelegraph Consulting offers bespoke research on digital assets and distributed ledger technology. Our services range from phone calls with clients when they have a question,
educational seminars for companies via online conferencing, and in-depth written reports on a wide range of topics. Our team consists of seasoned blockchain technologists that
have a passion for providing un-biased buy-side research. To schedule a free 30-minute consultation with Cointelegraph Consulting, respond to this email. 21Professional Blockchain Adoptions
Central Bank Digital Currency Logistics
Pakistan’s central bank is ‘carefully studying’ Major Thai bank experimenting with Blockchain provides major boost to speed of
CBDCs, says governor decentralized finance China–Europe rail trade
The governor of the State Bank Thailand’s Kasikornbank, or The Chengdu International
of Pakistan has indicated that the KBank, has begun experimenting Railway Port in Sichuan
institution is carefully studying with Decentralized Finance province was installed with
the possibilities opened by services as part of its business the blockchain-powered Sino-
central bank digital currencies. expansion plan. DeFi could hold Europe Trade Link 2.0 platform.
He also added that the central the key to improving financial The solution helped to cut down
bank has already given the green light for a framework, within inclusion for people in Southeast Asia, where about two- on logistical document checks and allowed foreign trade
which digital banks can begin to operate in Pakistan. thirds of the population remains unbanked in some regions. companies to raise money directly from the bank to speed
up cash flows.
APR 09, 2021 Visit Page APR 12, 2021 Visit Page
APR 12, 2021 Visit Page
European Central Bank releases results of China aims to let foreigners use digital yuan Lockheed Martin adopts blockchain for
digital euro consultation at Winter Olympics in 2022 supply chain management in Switzerland
The European Central Bank has China’s central bank is looking United States aerospace contractor
published the results of a public to enable foreign athletes and Lockheed Martin has signed
consultation on a potential digital visitors to use the country’s an agreement with SyncFab,
euro. Privacy was named the digital currency during the a distributed manufacturing
most desired feature for a Beijing Winter Olympics in 2022, platform, to streamline supplier
potential digital euro, accounting which may potentially be the first capabilities across Switzerland.
for 43% of all respondents, whereas security and the ability test of China’s CBDC by foreign users. SyncFab will give Lockheed Martin direct access to its parts
to pay across the eurozone were said to be top priorities procurement and supply chain platform, which is built on
APR 19, 2021 Visit Page
by 18% and 11%, respectively. top of the company's blockchain.
APR 14, 2021 Visit Page APR 13, 2021 Visit Page
22Professional Blockchain Adoptions
Financial Activities
European Investment Bank reportedly to issue One of Europe’s largest investment banks PayPal-owned Venmo launches cryptocurrency
bonds with blockchain tech issues security token on Tezos trading
The European Investment Bank French financial conglomerate Payments firm Venmo, owned by
has hired major global banks such Société Générale has issued the PayPal, is launching cryptocurrency
as Goldman Sachs, Banco Santander first security token on the Tezos trading for four major coins: Bitcoin,
and Société Générale to look at a blockchain. In the future the bank’s Ether, Litecoin and Bitcoin Cash. In
potential of deploying blockchain crypto foray will also include a few weeks, Venmo’s customers will
technology for the registration and exchange and custody services be able to buy as little as $1 worth of
settlement of digital bonds. for institutional clients. cryptocurrency, hold and sell crypto
directly within the Venmo app.
APR 13, 2021 Visit Page APR 15, 2021 Visit Page
APR 20, 2021 Visit Page
Bitcoin’s time has come: Time Magazine to hold WeWork to accept crypto payments and hold
BTC on balance sheet them on its balance sheet
Institutional fund manager Grayscale Coworking space giant WeWork
has partnered with New York-based a n n o un ce d p la ns t o h o l d
Time Magazine. Time will receive cryptocurrencies on its balance
payment in Bitcoin and will hold sheet. WeWork has partnered with
the crypto asset on its balance crypto payment service platform
sheet. BitPay to accept Bitcoin, Ether and
stablecoins USD Coin and Paxos as means of payments for its
APR 13, 2021 Visit Page
workspaces.
APR 20, 2021 Visit Page
23Professional Blockchain Adoptions
Other Industries
Linux Foundation launches blockchain-based Dubai’s economic department to roll out UAE employs blockchain tech for remote
platform for insurance blockchain-based corporate KYC litigation services
The Linux Foundation announced Dubai’s Department of Economic The government of the United Arab
the launch of the Open Insurance Development and the Dubai Emirates will employ blockchain
Data Link platform, a project that International Financial Centre technology for use in its judicial
aims to reduce the cost of insurance have signed an agreement to put notarization and authentication
reporting and create a standardized the necessary modalities in place to services in order to cut down on the
insurance data repository using extend the blockchain-based Know time, effort and expenditure spent
distributed ledger technology. Your Customer platform across by the UAE’s Ministry of Justice in authenticating and verifying
the UAE. contracts and documentation.
APR 13, 2021 Visit Page
APR 14, 2021 Visit Page APR 20, 2021 Visit Page
Eftpos reveals plans to power Australian smart Switzerland’s largest insurer AXA starts
cities with blockchain tech accepting Bitcoin as payment
Australia’s point-of-sale technology Europe’s second-largest insurance
provider Eftpos Australia has firm, AXA, has become Switzerland’s
revealed plans to roll out blockchain- first all-line insurer to offer its
powered autonomous vehicles and customers the option to pay their
smart cities in Australia built using bills with Bitcoin, facilitated through
Hedera’s Hashgraph. a collaboration with the established
cryptocurrency broker Bitcoin Suisse.
APR 20, 2021 Visit Page
APR 15, 2021 Visit Page
24Regulatory Activities
North America Europe, the Middle East, and Africa Asia
Crypto wagering for online sports betting Turkey to ban cryptocurrency payments Macau poised to amend laws to enable
now legal in Wyoming digital yuan trials
Wyoming has passed a new A new ban in Turkey Сhief executive of the
law legalizing online sports announced by the Central Chinese island territor y
betting in the state with Bank will prohibit crypto Macau announced that the
gamblers able to fund their holders from using their government is planning to
accounts with bookmakers digital assets for payments amend legislation that
using cryptocurrencies. The in addition to preventing would allow the regulated
new guidelines are expected to take effect from Sept 1. payment providers from providing fiat onramps for issuance of China’s digital yuan to facilitate trials of the
crypto exchanges starting from April 30. digital currency.
APR 09, 2021 Visit Page
APR 16, 2021 Visit Page APR 15, 2021 Visit Page
SEC approves Exodus wallet for Regulation Nigeria’s SEC says central bank’s crypto South Korea plans interagency crackdown
A stock offering ban disrupted the market on illegal crypto transactions
The SEC has qualified the The Securities and Exchange The Financial Ser vices
offering of Class A common Commission of Nigeria Commission of South
stock of the crypto wallet says it is working with the Korea will require local
provider Exodus under central bank to create a financial institutions to
Regulation A. The shares are legal framework for cryptos strengthen the monitoring
already available through the and digital assets. The move of cryptocurrency
wallet itself. comes after the Central Bank of Nigeria barred commercial withdrawals. Furthermore, any suspicious activity
banks from servicing crypto exchanges in February 2021. should be reported to the state-run Financial Intelligence
APR 09, 2021 Visit Page
Unit, an agency responsible for investigating financial
APR 16, 2021 Visit Page
crimes.
APR 19, 2021 Visit Page
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