A new PwC report is in the latest cryptocurrency news, showing that the interest in crypto fundraising is greater and greater as we speak. The majority of fundraising and M&A deals in the cryptocurrency industry are now happening in Asia and Europe – a statistic which shows that these markets are more dominant that the Americas which were seen as leaders before this.
Released on Thursday and going viral on many best cryptocurrency news sites, the PwC report shows a detailed analysis of the cryptocurrency ecosystem. It also found that even 41% of the global fundraising deals in Q2 of 2019 took place in Europe. As it stands, Europe saw 34% of the global fundraising deals in the same period last year.
Similar to this, the cryptocurrency fundraisers in Asia have grown a lot and now account for 26% of the deals in Q2 of 2019. So, when we see these numbers combined, we can see that the two regions account for 67% of the action in Q2 of 2019.
Meanwhile, the PwC report also identified a significant drop in the crypto fundraising deals in the Americas. Even though the Americas accounted for 51% of global deals in Q2 2018, their share went down to just 28% in the Q2 of this year.
On a global scale, the total number of fundraising deals and the amount of capital involved have both declined by more than 50% from a high of $408 million in Q1 of 2019. That being said, it is clear to see that the declines in the recent Bitcoin and altcoin news account for a lot of the action.
Given Bitcoin’s recent price rebound, the report indicates that there has been an uptick in the value of global deals, growing to $250 million in Q2 2019 from $166 million in Q1. The senior manager of PwC’s fintech and crypto arm, Lucy Gazmararian, commented on the PwC report and said:
“The price of bitcoin is the bellwether for the industry and for the sentiment of investors. As the price of bitcoin has recovered, we see the sentiment has become more positive and have seen more activities in fundraising and M&A activities.”
The report also added that the firm observed a similar trend in the realm of mergers and acquisitions, for which the US market dominance has decreased from over 80% in the first half of 2018 to 48% in Q2 of 2019.
Berkeley City Council Member The First To Buy Cannabis With Cryptocurrency
‘’By providing a cash-free method of cannabis tax collections, AB 953 can reduce costs and safety risks for cities and businesses. The Green Rush is a 21st-century industry; it deserves 21st-century legislation. Tax collections leveraging stablecoin technology will help bring this new industry into the light.’’According to the US Federal Statutes, cannabis is still illegal despite the many attempts to make it legal for recreational use in states like California. The business is still cash-based and there is almost zero banking support. The federal banks in the United States have been known to close down the accounts of many marijuana investors. The nature of the industry that is cash-based causes serious problems when considering the sales and city tax payments. The state tax officials tend to spend some more money and their time to accept payments in large fiat deposits. For the co-founder of cred, Dan Schatt, cryptocurrencies can provide solutions for these problems:
‘’Not only does crypto result in significant cost reduction for consumers and merchants, but it also enables highly productive tax collection, transparency, and predictability for city and state governments.’’Cannabis is still a very taboo subject and so are the cryptocurrency payments and systems but it still seems like crypto is the perfect transactional tool for the industry. Berkeley’s Blockchain department’s Liam DiGregoria commented on the efforts that Bartlett made in leading the way for marijuana to become normalized among the elected officials and as he noted for the latest cryptocurrency news reports:
‘’There’s a negative public perception that people in higher levels of office shouldn’t use (cannabis), let alone buy it.’’
OKEx Korea Delisted Monero, Dash, And Other Privacy-Cryptos Over FATF Demands
“Support for trading of 5 different cryptocurrencies, XMR, DASH, ZEC, ZEN, SBTC, will be terminated.”As the news site reported, the sweeping changes to crypto transaction rules currently demand businesses to identify the two parties which are sending funds to each other - if a transaction exceeds the limit of $1,000.
"According to the statement corresponding to FATF R.16, OKEx Korea has restricted its implementation as the ' travel rule' recommends that exchanges be able to collect relevant information such as the name and address of the sender and recipient of the virtual asset. privacy-oriented cryptocurrency, aka that ' the dark Coin "has decided to take the deal end-of-support measures of the corresponding event," the blog post showing that OKEx delisted the five altcoins shows.This comes in period when more than 200 countries are forced to theoretically implement the rules by June 2020. Still, the altcoin news show that there are concerns that doing so is physically impossible for a lot of decentralized blockchains. Now that OKEx Korea delisted the five cryptocurrencies, all of them make it possible to identify the sender and recipient of a transaction by design. An OKEx representative was also featured on many best cryptocurrency news sites a while ago, telling that the coins will only be delisted on OKEx Korea (OKEx.com.kr) but will remain listed on the global OKEx platform. The value of these coins, as the coming altcoin news show, has remained unchanged.
Ripple Is Selling XRP At Discount To Institutional Buyers
“We would hypothetically have restrictions about what they can sell and how often, and usually those are based upon volume in the market,” Garlinghouse noted.He also talked about the price at which XRP is sold, being featured in the coming altcoin news for his unique response to the interviewer's question:
CNN asked "So you might give them it slightly cheaper but you say to them, ‘hey, you’re not allowed to sell it for six months, let’s say, or a year’,” on which the CEO of ripple replied “Correct, that’s basically correct,” even though the rest of his statement was cut off.Also, the CNN interviewer asked Garlinghouse about the proportion of ownership that Ripple has currently, as well as its amount of power and ability to control the price. The CEO replied that Ripple is still the largest owner in the XRP community and that they would never dump XRP which would go "against their best interest." Garlinghouse also said that the team has "taken steps to lock up most of the XRP we own in escrow, so that we can’t touch it.” https://twitter.com/jchatterleyCNN/status/1172151590763016193 What's also interesting is the fact that in August, the CEO of Ripple has confirmed that Ripple hasn't increased - but instead decreased its sales by volume Q/Q and since then, the inflation rate of XRP and the circulating supply has been lower than the one of BTC and ETH. In value, sales for Ripple increased by 48% which is probably another reason why Ripple is selling XRP with a discounts - to trigger further growth. In either case, the company confirmed that it "plans to take a more conservative approach to XRP sales" in Q3 this year. The interview was featured on many best cryptocurrency news sites.
Square Cash App Is Testing A New Stock Trading Feature: Report
“Just from a business perspective, we don’t look like an Internet company today. An Internet company can launch something and it’s available around the world. Whereas with payments, you have to go to each market and pay attention to regulators. You need a partnership with a local bank. This is a very slow process in any new market.”The new announcement about stock trading features on the Square Cash App has been well received by the crypto community.
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