Four Companies Make Recent Headlines With Cryptocurrency Trades and Exchanges
Scroll DownHere are the 4 most important cryptocurrency-related stories of the week: Fidelity Investment Adds Digital Assets Service U.S.-based Fidelity Investments announced the launch of Fidelity Digital Asset Services, which will provide institutional investors with trading and custodial services relating to digital assets. In its announcement, the financial giant noted that 70% of institutional investors believe that digital currencies will play a role in the financial industry, and they hope that the services will entice those who are still waiting to enter the market. Mike Novogratz Predicts Cryptocurrency Rise If Institution Investors Enter Market Famed investor and cryptocurrency enthusiast Mike Novogratz predicted that, if institutional investors jump into the cryptocurrency markets sometime during the first half of next year, the markets for them will reach new highs. At the same time, though, Novogratz backed away from an earlier prediction that Bitcoin would rise above the $10,000 level before the end of the year. Binance Launches Digital Currency Exchange in Uganda Binance, which is one of the largest cryptocurrency exchanges in the world, announced the opening of a branch in Uganda that will let users there trade digital currencies for local fiat currency. The branch has already started accepting deposits and withdrawals in Ugandan shillings. They have also implemented know-your-customer policies. Wei Zhou, who is Binance's Chief Financial Officer, believes that the branch will help bring economic stability not only to Uganda, but to Africa as a whole. He also believes that it will bring innovation to the continent. Stablecoin Tether Loses Its Peg to the Dollar Tether, which is a stablecoin tied to the U.S. dollar that has had its share of controversy, lost its peg to the dollar, with the digital currency falling to the $0.96 mark this week. The drop came at the same time rumors were circulating that the cryptocurrency exchange Bitfinex — which has a strong connection to Tether — was having banking problems. These rumors were denied by the exchange, and Binance denied another rumor about Tether. This one was about how the cryptocurrency was to be delisted there.
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