Welcome to the February 13, 2024 edition of the Genfinity News Recap! As you navigate through your busy workday, staying informed about the latest developments in the realm of Web3 and finance can be a challenge. However, we are here to provide you with a concise overview of the most significant news you might have overlooked today.
February 13, 2024 Genfinity News Recap
Ripple acquires Standard Custody
Ripple, a company renowned for its ability to facilitate fast and secure cross-border payments, had a press release today announcing the acquisition of Standard Custody & Trust Company. Standard Custody & Trust Company plays a crucial role in ensuring the security and regulatory compliance of digital assets for institutional clients and other businesses operating in the digital asset space.
The press release also notes that Standard Custody’s limited purpose trust charter and its money transmitter licenses will augment Ripple’s expanding portfolio of regulatory licenses. Ripple and its affiliated companies altogether hold a New York BitLicense and nearly 40 money transmitter licenses across the U.S. They also hold a Major Payment Institution License from the Monetary Authority of Singapore and a Virtual Asset Service Provider registration with the Central Bank of Ireland.
The greed is back, but will $BTC sustain this rally?
CoinTelegraph observed and reported on the crypto fear and greed index, which notably rocketed to 79 today. This is the highest reading on the index since November 2021 when $BTC broke above 60k. The index is now in the “extreme greed” zone.
Yet, the stock market fell today, as reported most recently by CBS News. Traditional investor’s concerns were surrounding the newest government report, which highlighted persistent and high inflation numbers. While the DJIA fell about 1.9%, the S&P 500 and Nasdaq index also showed a decrease of about 2%. Bitcoin, traditionally following the stock market, also felt a slight decrease today. At the time of writing, Bitcoin has recovered to around $49.5k.
Altcoins
Aleph Zero announced a partnership with the Digital Euro Association today to aid in the DEA’s mission to shape the future of digital currency. You can read more about this venture below.
Cointelegraph analyzed LINK’s surge above $20 today, stating it has been driven by increased DeFi activity and adoption. The rally, a 16% increase between Feb. 9 and 12, propelled LINK’s market capitalization to $11.67 billion, making it the 10th largest cryptocurrency.
Eigenpie revealed on Feb. 1 its implementation of Chainlink CCIP across Arbitrum and Ethereum platforms. Additionally, on Feb. 7, Paxos disclosed its adoption of Chainlink’s new PayPal USD price feed. Similarly, the DeFi-centric Umami DAO recently incorporated Chainlink Data Streams on Arbitrum.
We hope you enjoyed our February 13, 2024 Genfinity News Recap! Come back tomorrow evening for another news summary, and please leave a comment below.
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