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Robinhood Adds USDC to App
Robinhood, a well-liked inventory buying and selling app, added Circle’s USDC stablecoin to its crypto choices for retail merchants Tuesday.
The firm added in a tweet the providing can even be accessible on Wednesday for switch on Polygon and Ethereum networks.
Robinhood’s inclusion of USDC signifies the corporate is setting its sights overseas the place the utilization of stablecoins is extra in style and helpful for traders.
Crypto choices have elevated considerably on the platform over the previous few years, with Robinhood now providing a complete of 17 digital currencies.
Top Cryptos Languish Ahead of Expected Rate Hike
Flagship cryptocurrency Bitcoin hit a three-month low of $18,247 Monday, regarding analysts and traders who predicted a rally after its swift decline from an all-time excessive of over $60,000.
Expectations of additional Fed fee hikes could possibly be one of many major culprits resulting in Bitcoin’s languishing standing as traders proceed to flee dangerous property.
The Federal Reserve is predicted to lift charges by three-quarters of a proportion level for the third consecutive time this week in an effort to tame inflation.
Ether, the second largest cryptocurrency is just not faring a lot better after the lengthy anticipated “Merge” improve, hitting a two-month low of $1,280 Monday.
Nasdaq Makes a Move on Crypto
The Nasdaq, the second-largest U.S. inventory market operator, is making its first transfer towards embracing cryptocurrency.
In a Tuesday press launch, the corporate introduced it’s beginning a cryptocurrency custody service because it goals to money in on the demand from institutional crypto traders.
Nasdaq will compete with crypto alternate Coinbase and crypto custodians sAnchorage Digital and BitGo in holding bitcoin and ether for institutional shoppers in the U.S.
The head of the Nasdaq’s new digital property unit, Ira Auerbach, stated that Nasdaq is open to working with crypto-native corporations, though it doesn’t have any plans for acquisitions in the quick time period, in line with a Bloomberg report.
Former Secretary of Treasury to Speak at This Year’s AIM Summit
Lawrence Summers, an American economist who served because the U.S. Secretary of Treasury from 1999 to 2001 beneath Bill Clinton, in addition to the director of the National Economic Council from 2009 to 2010 beneath Barack Obama, will probably be providing his insights into the worldwide economic system and monetary markets in the course of the thirteenth version of AIM Summit being held on Nov. 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 views on why the U.S. will possible be headed right into a recession inside the subsequent two years, and talk about how globalization, commerce and know-how will play a pivotal position in the way forward for the worldwide economic system. Summers can even be sharing his views on crypto and blockchain.