NEW YORK, Oct. 11, 2021 /PRNewswire/ -- Traders News Source Reports on Crypto Currency Regulation, Defi, Facebooks New Crypto and More.
According to data from CoinMarketCap, there are currently more than 12,170 crypto currencies in existence (not all are active) and you've likely heard of just a handful. The value of all those cryptos has fluctuated roughly from $2T to $3T (USD) in 2021.
A new stablecoin is expected to be available by the end of 2021 and it may disrupt the crypto landscape as it will be offered by Facebook, Inc. (NASDAQ: FB). This new crypto currency, called DIEM (fka Libra) has been in development for a couple of years. The company has also developed Novi, a crypto wallet and the whole project is supposed to be overseen by a consortium of financial interests called the Diem Association and backed by fiat currencies.
Read our full report on the changing landscape of crypto currency here: https://tradersnewssource.com/a-look-ahead-at-the-changing-landscape-of-crypto-currencies/
In April of this year Coinbase Global, Inc. (NASDAQ: COIN) became a publicly traded company. They are one of the largest trading platforms for crypto currencies with 50M daily active users on a global scale. As a publicly traded USA company Coinbase is now subject to scrutiny by several government agencies. Governments across the globe want to place some controls on crypto trades including the ability to track transactions and potentially tax them.
Earlier in 2021, Elon Musk (Tesla) announced a major investment in Bitcoin. It was only a couple months later that his position changed when he announced that the huge energy requirements for mining BTC were unacceptable to him. Many of the newer cryptos are being offered on a Proof of Stake blockchain platform which uses only a fraction of the mining energy that the BTC Proof of Work platform requires. But what do about Bitcoin? Greenidge Generation Holdings Inc. (NASDAQ: GREE) is a newer public company aiming to mine BTC in a more energy responsible way through a natural gas power generation facility.
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