Global banks have reduced their exposure to certain cryptocurrencies by 43.6% over the past year, the Bank for International Settlements (BIS) said Tuesday. According to a report by the Basel Committee on Banking Supervision (BCBS), the total exposure to cryptocurrencies (including direct exposure to cryptocurrencies and exposure through derivatives) will drop from 61.7% in 2021 to 15.4% in 2022.

The change in banks’ crypto exposure was mainly due to fewer banks responding to the BIS survey, but there were other factors such as market conditions and banks’ reduced exposure could be due to the BCBS’s global crypto banking rules, the report said. The sample of participating banks was reduced from 182 to 126. The BCBS approved rules in December that limit banks’ exposure to certain cryptocurrencies by more than 2%.

The committee also suggested that cryptocurrency holdings should be capped earlier in the year in June. The deadline to implement the BCBS’s proposed crypto banking rules is 2025, but data suggests banks are already taking action. Total exposure in the Basel III monitor, the share of crypto exposure “reduced to 0.003% and 0.001% of total exposure, respectively,” the report said.

Pacman, the founder of Blur, said on social media that most of the trading volume in the traditional market and the token market comes from a small number of market makers (MM). In the NFT market, trading activity from MM looks very different from that from collectors.

Before Blur, there were very few MMs in NFTs, as this market matures, you will see more MMs enter this market. It is important for everyone to understand the dynamics in the game, MM provides liquidity and profits from the spread of the real price of the asset.

Every transaction they make comes in the form of royalties paid to creators. Their activity will look different than what NFT enthusiasts are used to. But their entry allows more players to enter the market. The liquidity they provide makes buying new collectibles safer, which leads to higher volumes and more revenue for creators.

The token world exploded as infrastructure and liquidity improved, allowing the market to grow. NFT will also see a huge growth, and the entry of MM is just the beginning.

Matt Hougan, chief investment officer of crypto fund Bitwise Asset Management, is optimistic about the digital asset market in the next few years. He said he was “very optimistic about the next three years.”

Hougan believes that the next bull cycle in the cryptocurrency market will be unprecedented. “This bull cycle, the four-year cycle, is going to be the biggest cycle ever in terms of user adoption, total market cap growth, pretty much everything we care about … If you’re in the developer community, you can see what’s going on, You can feel it. From my experience in the crypto market, the level of excitement is higher than ever. That’s why (the market price) is up 50% this year. That’s why I think the end of the year will close higher . I think 2024 and 2025 will be even better.”

Hougan said that every crypto cycle is driven by technological breakthroughs, and the upcoming cycle is no exception. “These cycles happen for a reason, and there’s a major technical breakthrough that’s fueling a new bull market … The reason I’m so excited is because I know what the technical breakthrough that’s going to drive the next bull market is. It’s Bigger technological breakthrough than NFTs, DeFi, and stablecoins. I think, in terms of real-world applications, even bigger than Bitcoin and Ethereum when they first appeared. This is scalability. This is The Layer 2 era… when you can efficiently use the blockchain for free, the things you can do are so interesting and exciting. It allows you to enter mainstream usage in such a major way, and I think this is what cryptocurrencies really are A three-year cycle that penetrates the mainstream.”

A report from Blockdata highlights sequential quarterly declines in funding through 2022 as VCs boom into the broader Web3 space in 2021.

Blockdata analyzed data from CB Insights, rounding the value of venture capital funding in the final quarter of 2022, noting a 34% drop compared to the third quarter of 2022.

The final quarter of 2022 is down sharply compared to the first and second quarters, down 67% and 53% respectively, with venture capital starting at an all-time high of $11 billion invested and 692 deals in the first four months of 2022 quarterly decline.

Matt Hougan, chief investment officer of crypto fund Bitwise Asset Management, is optimistic about the digital asset market in the next few years.

He stated that he is “very bullish on the next three years.” Hougan believes that the next bull market cycle in the cryptocurrency market will be unprecedented. “This bull cycle, the four-year cycle, is going to be the biggest cycle ever in terms of user adoption, total market cap growth, and pretty much everything we care about … If you’re in the developer community, you can see what’s going on, You can feel it. From my experience in the crypto market, the level of excitement is higher than ever. That’s why (the market price) is up 50% this year. That’s why I think the end of the year will close higher . I think 2024 and 2025 will be even better.”

Hougan said that every crypto cycle is driven by technological breakthroughs, and the upcoming cycle is no exception. “These cycles happen for a reason, and there’s a major technical breakthrough that’s fueling a new bull market… The reason I’m so excited is because I know what the technical breakthrough that’s going to drive the next bull market is. It’s Bigger technological breakthrough than NFTs, DeFi, and stablecoins. I think, in terms of real-world applications, even bigger than the first appearance of Bitcoin and Ethereum. This is scalability. This is The Layer 2 era… when you can efficiently use the blockchain for free, the things you can do are so interesting and exciting. It allows you to enter mainstream use in such a major way, and I think this is what cryptocurrencies really are A three-year cycle that penetrates the mainstream.”

HashKey Group (“HashKey”), a provider of digital asset financial services, announced that it has received approval from the Hong Kong Securities and Futures Commission (“SFC”) to allow its Hash Blockchain Limited (“HBL”) to carry out OTC virtual asset platforms. Transaction business (OTC).

The approval allows HashKey to conduct virtual asset trading business outside of the trading platform. When there is a transaction demand for tokens that are not listed on the exchange, HBL, as an intermediary, can match the transaction between the two parties.

The approval demonstrates HashKey’s continued commitment to providing a safe and secure trading environment for its clients, while the SFC will ensure that companies operating within its jurisdiction adhere to high standards of transparency, security and integrity.

It is reported that HashKey Group has previously been approved by the Securities Regulatory Commission to operate a virtual asset trading platform for professional investors under a Type 1 (securities transaction) license and a Type 7 (provision of automated trading services) license through its subsidiary HBL. The company will continue to be committed to sustainable growth and strive to become a globally reputable and fully compliant digital asset ecosystem.

Encrypted asset management company CoinShares released its financial report for the fourth quarter of 2022. The company’s revenue in the fourth quarter was 8.8 million pounds, a decrease of 65% from the 25.7 million pounds in the same period in 2021.

Full-year revenue for 2022 will be £51.5 million, a 36% decrease from £80.8 million for the same period in 2021. Consolidated total revenue for the full year 2022 will be £3 million, down 97% from £113.4 million in the same period in 2021.

As of December 31, 2022, the group’s assets under management (AUM) were £1.44 billion (approximately US$1.731 billion), of which £1 billion was on the balance sheet related to group ETPs issued by XBT Provider and CoinShares Digital Securities Limited . The remaining £440m is attributable to the BLOCK index, which is not included in the balance sheet.

STEPN tweeted that GMT will be airdropped to eligible Genesis shoe holders immediately. Since STEPN uses the ecosystem fund for this airdrop, all GMT will be sent to the SOL Spending account of SOL/BNB/ETH users.

For non-SOL Realm users, please create a SOL wallet and deposit SOL at this address to pay transaction fees. According to previous reports, STEPN’s official Twitter announced the New Horizon Initiative, a plan to airdrop GMT to Genesis shoe holders.

According to the plan, STEPN will airdrop 4000 GMT to each pair of Genesis gray shoes, 8000 GMT to Genesis green shoes, 16000 GMT to Genesis blue shoes, and 32000 GMT to Genesis purple shoes. The snapshot was completed at 0:00 UTC on February 12th. Only users who hold Genesis shoes in the Spending account and have not listed for sale will receive the airdrop.

The Financial Stability Board (FSB) released a report stating that it will work with other international standard setters to determine how decentralized financial (DeFi) activities should be regulated in different jurisdictions.

The FSB will also explore the extent to which its proposed policy recommendations for the crypto space could be strengthened to address DeFi-specific risks, the report said. Additionally, it plans to collaborate with other international standard-setters on how to fill the data gap in measuring and monitoring DeFi’s interlinkages with traditional finance.

The FSB stated that DeFi is not fundamentally different from traditional finance in terms of the functions it performs or the vulnerabilities it faces. While its findings show that the interconnection between DeFi, the real economy, and traditional finance is limited, “if the DeFi ecosystem grows substantially, the scope for spillover effects will increase.

It will carry out additional work analyzing the impact of asset tokenization, as this may increase the connection between the DeFi market and the real economy. The Financial Stability Board plans to release a final report on the international regulatory framework for encryption in July 2023.

Charlie Munger, vice-chairman of Berkshire Hathaway, said at the annual shareholder meeting on Feb. 15 that he was ashamed of the U.S. government’s approach to regulation so far.

He called for a total ban on cryptocurrencies and called those who believe in them “idoits.” Charlie Munger said that cryptocurrencies are very stupid and very dangerous. It is completely wrong for the US government to allow this. I will not be proud of allowing cryptocurrencies in the United States. I think cryptocurrencies are ‘shit’.