• The Financial Stability Board (FSB) has concluded that many existing stablecoins would not meet the incoming high-level recommendations or international standards.
• Hong Kong’s Securities and Futures Commission (SFC) is considering allowing retail investors to buy crypto.
• Fireblocks is launching an off-exchange service, Binance Fan Token is introducing a royalty system and Wirex is now supporting Stellar and USDC in its wallet.

Regulation News

The Financial Stability Board (FSB) ’s „work concludes that many existing stablecoins would not currently meet [the incoming] high-level recommendations, nor would they meet the international standards,“ said the FSB Chair Klaas Knot in a letter to G20 finance ministers and central bank governors. The FSB, an international body that monitors and prepares recommendations about the global financial system, is set to finalize and publish its proposals for regulating crypto and stablecoins in July this year. Additionally, Hong Kong’s Securities and Futures Commission (SFC) may allow retail investors to buy crypto, according to the latest policy proposal which calls for public feedback on its proposed licensing regime for crypto exchanges: whether it should allow licensed exchanges to serve retail investors in the country, and what measures should be implemented to provide „robust investor protection measures.“ This regime is set to take effect in June 2023.

Exchange News

Digital asset platform Fireblocks is gearing up to launch an „off-exchange“ service – a new platform that would help traditional finance firms guard against collapses like that of the FTX exchange, the Financial News reported. The company said the product would act as an intermediary, letting firms keep cryptoassets in custody while trading; assets only move post-trade for settlement. Binance Fan Token also announced a new royalty system for token holders – Binance Fan Club – which will allow fans to collect Star Points by engaging with teams and unlock exclusive fan privileges such as VIP tickets to team matches, meet & greet sessions, personalized video clips from players; all new users who sign up with crypto exchange Binance via Binance Fan Club can also claim a Fan Badge each as proof of their membership.

Wallet News

Digital payment platform Wirex announced that it became „the world’s first non-custodial wallet without seed phrase vulnerability“ to launch on the Stellar blockchain; its wallet now supports stellar (XLM) and USDC tokens as well.

Conclusion

Overall, this article discussed regulation news regarding existing stablecoins not meeting upcoming standards or international regulations; exchange news regarding Fireblocks launching an off-exchange service plus Binance introducing a royalty system; lastly wallet news regarding Wirex supporting Stellar & USDC tokens on its wallet platform.

• On February 13, BTC/USD started trading at $21,796 and has since lost 6% in value over the past week ending on February 12th.
• On February 12, the Central Bank of the United Arab Emirates (CBUAE) introduced a Financial Infrastructure Transformation (FIT) program to facilitate the digital transformation of the financial sector.
• The International Monetary Fund (IMF) released a caution declaration following its recent visit to El Salvador, where it contacted the country’s financial representatives.

Bitcoin Price Analysis

On February 13, BTC/USD started trading at $21,796. It is now trading at $21,504, down nearly 2% over the previous 24 hours. BTC/USD has moved between a high of $21,902.00 and a low of $21,444.00 and lost 6% in value over the past week ending on February 12th.

UAE Introduces FIT Initiative

On February 12, the Central Bank of the United Arab Emirates (CBUAE) introduced a Financial Infrastructure Transformation (FIT) program to facilitate the digital transformation of the financial sector. The FIT program will be rolled out in phases, beginning with the introduction of various digital payment infrastructures and services. According to H.H. Sheikh Mansour bin Zayed Al Nahyan’s vision, this initiative aims to promote digital transactions and enhance customer experience while reducing operating costs and enhancing regulatory compliance.

IMF Issues Warning To El Salvador

The International Monetary Fund (IMF) issued a caution declaration following its recent visit to El Salvador where it contacted with country’s financial representatives regarding their intention to adopt Bitcoin as legal tender currency in order to boost economic growth possibilities for people living there but also highlighted potential risks that accompany such action which need to be addressed first before any progress can be made on this matter by government officials and other stakeholders involved in this process alike in order for successful implementation of Bitcoin as official currency take place without major disruptions or consequences for local population living there and economy overall as well .

Potential Impact Of Adoption Of Bitcoin As Legal Tender Currency

If El Salvador succeeds in adopting bitcoin as legal tender currency then it could have far reaching implications for rest of world as well given already existing popularity cryptocurrency across different countries thus potentially leading towards increase usage by citizens who are currently reluctant about embracing new technology due its complexity or lack thereof knowledge regarding topic itself making adoption easier since no educational effort required from user side itself when using cryptocurrency instead traditional fiat currencies like US dollar or Euro etcetera .

Conclusion

The news is positive for Bitcoin as more countries start moving towards adoption similar initiatives while International Monetary Fund warns governments worldwide about potential risks associated with such actions but also highlights advantages that come along with embracing cryptocurrencies like increased economic growth opportunities which outweigh negative aspects if handled correctly by authorities involved within process itself .

• MicroStrategy reported a massive fourth quarter loss of $249.7m, with the number dragged down significantly by a $197.6m loss from its Bitcoin investment strategy.
• The company has recorded a cumulative impairment loss on its BTC holding of $2.153bn since acquisition.
• Despite this, the company has remained steadfast in his faith in Bitcoin and founder Michael Saylor pointed to the increase in the company’s share price since the bitcoin strategy was announced.

MicroStrategy Reports Massive Fourth Quarter Loss

MicroStrategy on Thursday reported a net loss of $249.7 million for the fourth quarter ended, with this amount dragged down significantly by a $197.6 million loss from its Bitcoin investment strategy. As of the end of the fourth quarter, MicroStrategy held approximately 132,500 BTC, worth some $1.84 billion and has recorded a cumulative impairment loss on its BTC holding of $2.153 billion since acquisition – marking this as the eighth consecutive quarterly loss for MicroStrategy .

Michael Saylor Remains Faithful To Bitcoin

Despite this, MicroStrategy founder and chairman Michael Saylor remains faithful to Bitcoin, pointing to the increase in their stock price since announcing their bitcoin strategy in August 2020 during an earnings call: “At that — on the day before, our stock was about $121 to 122$ per share – today it closed at 292$ per share – so we measure our success based upon creation of shareholder value” he said. Shares of MicroStrategy traded up 9% to 292$ after-hours trading slipped back to 284$. Since announcing their first bitcoin purchase in August 2020, bitcoin has approximately doubled in price – and they have continued buying throughout both bull and bear markets – most recently spending 42$ million to buy 2395 BTC in late December last year..

Bitcoin (BTC) Bull Bet

Bitcoin bull Michael Saylor’s big bet may be about to backfire for his company MicroStratgey after reporting these losses – however despite this they remain committed to their long term corporate strategy and conviction when it comes to investing and growing their position with bitcoin holdings..

Decrease In Share Price Since Beginning Of 2022

Since beginning of 2021 MSTR shares have decreased 46%, hitting a low point around 15476$ November 2020 – but currently trading around 23000$, double what it was when Mictrostragy made its first purchase last year..

Conclusion

Despite recording yet another quarterly loss due primarily to their Bitcoin investment strategy – Michael Saylor remains committed to creating long term shareholder value through his Bitcoin bet – while also noting an overall increase in stock prices since they began investing last year..

• The United Nations High Commissioner for Refugees (UNHCR) is tapping into the Cardano blockchain platform as an alternate approach to supporting displaced people.
• Through the platform, the humanitarian organization will be able to raise funds using staking to support people forced to flee.
• The Cardano token may benefit from increased demand as people around the world buy the ADA token for staking purposes.

The Cardano blockchain is gaining traction within the humanitarian sector, as the United Nations High Commissioner for Refugees (UNHCR) has announced its plans to tap into the Cardano platform as an alternate approach to supporting displaced people. The crypto platform, which is the eighth-largest cryptocurrency with a market capitalization of $13.2 billion, has seen a 45.5% increase in the past 30 days, though growth has recently slowed with only a 0.9% increase in the past 24 hours.

Through the Cardano platform, the humanitarian organization will be able to raise funds through the use of staking. This program allows crypto users to donate while still holding ADA in a smart contract for a period of time. The platform is seen as an innovative way to link other humanitarian communities in order to achieve a positive impact. “Adopting the Cardano blockchain is first and foremost a new and innovative way of helping raise funds using staking to support people forced to flee… The opportunity of a stake pool generating rewards enables an even larger community to help make a difference and deliver lifesaving assistance to those most in need,” UNHCR outlined via a blog post.

The Cardano token may benefit from increased demand as people around the world buy the ADA token for staking purposes. Though the primary focus of this new initiative is to provide humanitarian aid, the Cardano token has the potential to increase in value as more people participate in the program. With this development, the Cardano blockchain is becoming increasingly attractive to humanitarian organizations, as it provides an alternative way to raise funds while still providing a secure platform.

Overall, the Cardano blockchain is paving the way for a different approach to humanitarian aid. With the UNHCR tapping into the platform, the Cardano token may experience increased demand as more people get involved in the program. The potential benefits of the Cardano platform are not limited to humanitarian efforts, as the cryptocurrency could be used to facilitate secure transactions and contracts as well. As the Cardano platform continues to attract attention, the value of the token could continue to rise as more people adopt it.

• Kava (KAVA) has seen a 9% jump in the past 24 hours, with a 38% gain in a week and a 52% return in the last 30 days.
• Coinbase has announced that it will list KAVA today, with the coin’s indicators showing positive signs of a breakout rally.
• The KAVA platform is steadily growing, with the proof-of-stake layer-one platform now the 13th biggest such platform in the world.

The cryptocurrency market has been going through a period of volatility over the past week, with a 2.5% drop in the past 24 hours, and a slight correction from gains over the last week. Despite this, the market cap remains at roughly $997 billion, up 8% in a week and 20% in a month.

Amidst the turbulence, some coins have been performing well, with Kava (KAVA) standing out with a 9% jump in the past 24 hours, a 38% gain in a week and a 52% return in the last 30 days. These impressive figures can be attributed to the recent announcement by Coinbase that they would be listing the coin.

The news has already started to affect KAVA’s indicators, with its relative strength index (purple) shooting up to 80, while its 30-day average (red) is beginning to move up towards its 200-day (blue), signalling a significant breakout rally. Coinbase’s listing of KAVA will begin today from 9:00am Pacific Time (5:00pm UTC), and is sure to bring with it some further volatility.

But the good news doesn’t stop there. Kava’s organic growth has been just as impressive, with the coin’s platform steadily growing. It is now the 13th biggest proof-of-stake layer-one platform in the world, with the team behind it continually finding new ways to add value to their coin.

All in all, KAVA’s performance over the past week has been extremely impressive and it looks to be a great choice for any investor looking for a coin with strong fundamentals and potential for long-term growth.

• Mike Novogratz, the founder of Galaxy Digital Holdings, argued that the events of 2022 have ‘cleansed’ the industry and that it is now time to survive the “transition period”.
• Novogratz warned that 2023 is a year to survive and that the outlook for crypto is not great due to regulatory headwinds.
• However, he suggested that, long term, “crypto is not going away” and that the prices of Bitcoin and Ethereum have held relatively steady.

Mike Novogratz, the founder of the US-based crypto financial services firm Galaxy Digital Holdings, recently spoke to CNBC about the future of digital currency. He argued that the events of 2022 have ‘cleansed’ the industry and that it is now time to survive the “transition period”.

Novogratz suggested that 2022 was a “grand washout” for the crypto industry, explaining that those who had a sell, they sold, and those who were leveraged, got out of the leverage. He warned that 2023 is a year to survive and that the outlook for crypto is not great due to regulatory headwinds.

However, he suggested that, long term, “crypto is not going away” and that the prices of Bitcoin and Ethereum have held relatively steady over the last couple of months and have gone up in the last few days. Novogratz noted that there are still “some overhangs – DCG, and Genesis, and Gemini – that will play out in the next quarter,” but that there is still room for optimism in the industry.

Novogratz went on to explain that the crypto industry must now focus on cutting costs and surviving this transition period. He suggested that those involved in the industry should focus on creating a narrative that inspires confidence and trust in digital currency and that investing in high-quality teams, products, and platforms is the best way to ensure the industry’s long-term success.

Overall, Novogratz argued that the future of the crypto industry is still bright, despite the challenges of the present. He suggested that those involved in the industry should focus on cutting costs, creating a positive narrative, and investing in high-quality teams, products, and platforms in order to ensure its long-term success.

• Tamadoge Games Arcade Beta has been released and the community is responding positively
• The platform offers three games to play, with two more being added soon
• Tamadoge has thrown down the gauntlet to its competitors by delivering on its vision of bringing real utility and value to the meme coin space

This week, the crypto community has been set ablaze by the launch of Tamadoge Games Arcade Beta. Developed by the meme coin Tamadoge, the play-to-earn metaverse games platform combines Tamagotchi-like fun with blockchain technology.

The platform offers three games to play in the Tamadoge Arcade: To the Moon, Rocket Doge, and Super Doge. Two more games will be added soon. As the platform is still in beta, users can test the games before they are officially released.

The launch of the platform has thrown down the gauntlet to other meme coins and crypto projects, such as Dogecoin, Shiba Inu, and Bonk. Tamadoge has delivered on its vision of providing real value and utility to the meme coin space.

The response from the community has been off the charts. In the first fifteen hours of the beta testing, users racked up over 150 hours of gameplay, with over 6,000 retries. The most popular game so far has been Super Doge.

In October 2022, Tamadoge became a top three meme coin with daily trading volumes in excess of $57 million. Its TAMA token registered an all-time high on the 4th October 2022, reaching $0.173. Crypto watchers predict that the Tamadoge price is likely to surpass those heights on the back of product development and real-world adoption.

The launch of Tamadoge Games Arcade Beta has been met with a lot of enthusiasm from the crypto community. With its promise of fun and rewards, the platform is sure to become a popular destination for users looking to play and earn. With more games and features in the pipeline, the future looks bright for Tamadoge and its users.

• XRP price is currently in the buy zone and analysts believe it’s a bargain to get in now.
• A lawsuit by the Securities and Exchange Commission (SEC) against Ripple and its top executives for allegedly selling XRP as an unregistered token is ongoing.
• Whale investors have been buying XRP since November, which could point to a major rally ahead of the next bull market.

Ripple’s XRP (XRP) is back in the buy zone and analysts have identified it as a bargain to get in at this time. This comes after a market-wide relief rally that saw assets like Solana (SOL), Polygon (MATIC) and Litecoin (LTC) post double-digit gains in less than a week. The international money transfer token is, however, still facing a legal burden in the form of a lawsuit by the Securities and Exchange Commission (SEC).

The SEC accuses Ripple and its top executives of selling XRP as an unregistered token, thus breaching the Securities Act. Both parties have filed their final submissions to the court and the world is now eagerly awaiting the court’s ruling. At the center of the case are the Hinman documents and emails that state Ethereum was not a security. According to legal experts like John Deaton, the lawsuit has a higher chance of going to trial than a settlement.

XRP price has been falling since September, when bulls tapped out at $0.56. Despite this, support at $0.30 has remained strong, even after being tested five times in the last six months. This same level could mark the XRP price bottom ahead of a major rally into the next bull market. This prediction is further supported by Santiment data, which reveals that large-volume investors, otherwise known as whales, have been buying XRP since November.

XRP was one of the top-performing cryptocurrencies in 2020, with a peak of more than $0.75. The token’s price has since been on a downward spiral, with the bulls unable to surpass the resistance at $0.30. Despite the current bearishness, XRP is still one of the most widely-used tokens in the crypto industry. The token is used as a medium of exchange in countries like Japan, India, and the United Kingdom, and is accepted by more than 400 companies worldwide.

If the court ruling goes in Ripple’s favor, there is a possibility of XRP price returning to its previous highs. On the other hand, if the ruling goes against the company, the XRP price could dip even further. Whichever way the ruling goes, it is clear that XRP is in a prime position to take advantage of any price movements, especially if the bulls can break the $0.30 resistance. With the whales already scooping up XRP, all eyes are now on Ripple as the wait continues for the court’s decision.