Bitstamp Institutional Registrations Up 57% In November – December 7

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $16,807

Bitcoin price has retreated back into the $16,000s following a sharp overnight drop to as low as $16,700.

Top-20 altcoins have also fallen across the board, with the exception of Tron which remains unchanged. Ethereum and BNB have dropped 2% each.

Top Stories for December 7, 2022 πŸ”₯

πŸ‘‰ Bitstamp Institutional Registrations Up 57% In November

The controversy surrounding the FTX crypto exchange has not deterred institutional investors from entering the industry, according to Bitstamp.

The exchange said institutional registrations were up 57% in November and total revenue was up 45%, with revenue from institutions rising 34% and from retail traders 72%.

Bitstamp also reported that active global retail users increased 43% month-on-month, with US-based users up 18%.

πŸ‘‰ ECB Board Member Calls For Ban Of Energy-Intensive Crypto Assets

European Central Bank (ECB) board member Fabio Panetta has said that crypto assets should be banned if they are too energy intensive.

The ECB has previously criticised digital currencies, with Panetta claiming that investors have been caught in a “textbook definition of a bubble” by being lured by the promise of ever-rising prices.

He added that it is difficult to see a justification for the existence of unbacked crypto assets in the financial landscape.

πŸ‘‰ Mazars Audit Concludes Binance BTC Reserves Collateralized 101%

Auditing firm Mazars has found that crypto exchange Binance’s bitcoin reserves are 101% collateralized, with Binance users also able to self-verify that their assets were included in the audit.

The audit only focused on Binance’s bitcoin holdings on multiple blockchains and considered in-scope assets lent through the exchange’s margin and loans service offering, which are collateralized by out-of-scope assets.