In the Daily: Blockchain Phones, Crypto Cash Out Gets Easier, Banks vs Exchanges

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Asset Managers UBS, Pimco, T. Rowe Price Caution of Cryptocurrency Investing, Expect Strict Regulations

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A number of asset managers have cautioned about investing in cryptocurrencies, including UBS Wealth Management, Pimco, T. Rowe Price, and Glenmede Investment Management. “We expect more stringent policy and regulatory controls ahead for crypto as it becomes more mainstream,” said UBS. Asset Managers Caution of Crypto Investing A number of asset managers have expressed caution on cryptocurrency after the recent price swings, including UBS Wealth Management, Pimco, T. Rowe Price, and Glenmede Investment Management, the Financial Times reported Monday. UBS Wealth Management explained that the price volatility that followed the Tesla bitcoin announcement “highlights risks companies face if they take on crypto balance sheet exposure.” The bank added: We expect more stringent policy and regulatory controls ahead for crypto as it becomes more mainstream. Last week, Bitcoin News reported that UBS, the largest bank in Switzerland, was exploring offering cryptocurrency services to its ...
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Coinbase Launches High Yield USDC Accounts With 4% APY

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Coinbase, the largest exchange in terms of crypto reserves held, has announced the introduction of a savings program tied to usd coin. The company’s high yield USDC savings program allows customers to gain 4% APY interest on stablecoin accounts. Coinbase Reveals USDC Savings Program With Interest Rates Eight-Times Higher the national average The cryptocurrency exchange Coinbase announced pre-enrollment for its usd coin (USDC) savings program that allows clients to earn a 4% APY interest rate on USDC held on the platform. Coinbase joins firms like Blockfi and Crypto.com that already offer interest on USDC stablecoin holdings. Still, Coinbase highlights in its announcement on Tuesday, that 4% APY on USDC is “more than 8x the national average of high-yield savings accounts.” “Everyone wants to get the best interest rate available for the assets they hold,” Coinbase explained in a statement. “But interest rates have decreased steadily over the past few decades, making it difficult to...
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Bitcoin Cash Upgrade Complete: 3 New Features Added to Consensus Rules

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Today, at precisely 9 a.m. ET on May 15, 2020, the Bitcoin Cash network completed another upgrade adding a few new features to the blockchain. The latest upgrade comes with new opcode support, a chain limit extension, and the improved counting of signature operations using the new “Sigchecks” implementation. A Number of Blocks Have Been Mined Under New Consensus Rules Every six months, the Bitcoin Cash network upgrades, and they usually take place on May 15, and November 15 every year. BCH supporters all around the world have been monitoring the upgrade, as they do every year, in order to see if everything went smoothly. The upgrade initiated after block 635,258 and the consensus rules went into effect after the next block was mined. The first addition allows for faster re-spending of unconfirmed transactions as developers have increased the chained transaction limit from 25 to 50. If one was to look at the history of mempool chain limiting, they would find that when Satoshi first ...
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