DBS Bank will launch a bitcoin exchange with a focus on retail clients

Cryptocurrency exchange Binance bought a stake in the U.S. edition of Forbes for $200 million, reports CNBC. According to sources, the resultBinance will become one of the largest shareholders of the publication.

Binance invested $200 million in exchange for an undisclosed prelu. The deal will help Forbes finalize preparations to go public via SPAC in the first quarter of 2022. It will trade under the ticker FRBS.

According to sources, the Binance investment will be part of the $400 million that Forbes owesand was attracted from frequent investors. As a result, the crypto-exchange will become one of the largest shareholders of the.Legendary billionaire investor and founder of Miller Value Partners Bill Miller in an interview with CNBC called bitcoin an insurance policy against financial disaster and said that he still keeps a significant portion of personal funds in the first cryptocurrency.

"Bitcoin is insurance against financial disasters like the one we saw in Lebanonor Afghanistan, or many other countries where this was observed during the pandemic," he said.

Miller said the thesis that bitcoin has no intrinsic value is flawed. He compared the digital asset to collectibles like baseball cards and Picasso paintings.

"It's like an insuranceolis. Insurance policies have no intrinsic value. In fact, you want them to have no intrinsic value. You don't want your house to burn down and you don't want to get into a terrible accident, but you pay for insurance every year in case that happens," the billionaire said.

Miller also noted that the media is incorrect interpreted the words he said during a January interview with WEALTHTRACK. At the time, it was reported that the billionaire had invested half of his personal fortune in bitcoin and other cryptocurrencies.

He explained that he invested only a few percent of his fortune in digital assets, which then, as the cryptocurrency market grew, pThe first time I was in the city, it was half of his personal funds.

"Now this amount is less because the price has fallen by half since November. But it's still a very big position," Miller added.

Recall, in November 2021, the billionaire called bitcoin digital gold and compared his bet on it to buying Amazon stock during the collapse of the dotcom bubble.At the beginning of the week, BTC continued to rally, reaching a high for the month - $45,000, and despite some correction of the cryptocurrency, the general mood remains "bullish.

However, some experts warn that bitcoin and other cryptocurrencies could fall even more, and by a lot.

Is BTC worth the path to fall to $10,000 in 2023? Let's try to get the opinions of experts.

Barry Bannister, chief strategist at Stifel, spoke in an interview with Barron's about the possibility of BTC/USD falling to $10,000 under the influence of Fed action.

"When the Fed tightens [monetary policy], bitcoin is not a good place tothen for investing money," he said, adding, "Because of the Fed's excessive policy tightening, bitcoin will fall to $10,000 by 2023.

He explained that BTC is "a very powerful way to play on Fed money losing or gaining value." History shows that when Fed monetary policy is weak, bitcoin rises. When Fed policy is reversed with monetary tightening, bitcoin goes down, which Bannister says has been the case since 2012.

"The Fed has said, 'We're not going to give you money for free forever,'" Bannister summed up. - It may have little effect this year, but in 2023 the Fed will probably go too far and bitcoin will be crushed," he added, noting that the Fed has a habit of tightening its policies "until the straw breaks the camel's back. It tightens too much, the market cracks, and you end up with a bear market - that's the story.

Another expert, Vikram Mansharanmani, a professor at Harvard University, also warned that turbulence for bitcoin and other cryptocurrencies in general is far from over, also ukThe monetary policy is currently the most important factor affecting the price of BTC.

"I think there will be a lot of activity in decentralized finance and cryptocurrencies," he told Yahoo Finance. - It's going to be a really exciting world in the 5-year horizon and beyond."

There will be a lot of volatility, he added. "You should 'buckle down' and go for a ride, but it's probably going to be fine."

"I think we have to pay attention to what's going on with central banks," he stressed. - Es.and their political motivation is to continually print money and depreciate currencies, then investors, to hedge against this risk, should buy currencies that cannot be printed, things that will always be in short supply."

Historically, that has been gold, silver, and precious metals. But in the modern era - a digital era that can attract young people and those people who are more digitally adapted - you might think that cryptocurrencies and bitcoin could be a digital version of non-printed currency, Banniste stressedр.Investment bank Morgan Stanley (NYSE:MS) Wealth Management unveiled a 20-page primer on etherium, released to help clients learn more about it, Barron's writes.

The report, prepared by investment strategist Danny Galindo, argues that Etherium has enough advantages that set it apart from other cryptocurrencies to be considered a standalone investment aside from the much better-known bitcoin.

At the same time, the bank's experts immediately stressed that they "do not make recommendations on whether to buy or sell Etherium."They only express their opinion that they do not foresee the disappearance of this asset class, and therefore advise to learn everything about this cryptocurrency and how it can fit into some, though not all, portfolios as soon as possible.

Etherium is the second largest cryptocurrency after bitcoin, and new coins are created using a "blockchain. In the case of Etherium, such a blockchain is known as Ethereum. And this coin has the same two main characteristics as bitcoin. First, this currency is decentralized, created by anyone who sets up computers to cheank of coins using the Ethereum blockchain, not the central bank. And second, it promotes digital "scarcity" by making certain pieces of code, such as a file, uniquely identifiable and therefore assignable to someone as property.

Today it is Etherium, not bitcoin, that is becoming part of a broader spectrum of activities than just payments and storage of value. Etherium and the Ethereum blockchain have attracted the most users as the basis for a new class of programs calledecentralized applications, or "Dapps. It acts as an app store, not owned by anyone, and this makes decentralized financial applications, or DeFi, such as banks, exchanges, possible.

This property of the etherium also makes possible the recent popularity of NFTs, or non-interchangeable tokens, which are copies of digital work, such as paintings that can be collected and sold.

The plus side of etherium is that it creates a large market for Dapps, has a larger potential field ofThe market is potentially larger than bitcoin, and hence potentially larger. Moreover, there may be some coin shortage value as Etherium moves to what is called steaking, where new coins are created with credits backed by existing coins, reducing the number of coins in circulation.

Of the downsides of etherium are the regulatory problems that BTC faces as well. In addition, it is not insurance for stocks.

As always happens with cryptocurrencies, their future seems bright, but the present is fraught with risks.Binance Labs invested in Automata Network, and YouTube told about plans to use NFT to monetize content - these and other important cryptocurrency market news in our daily review.

YouTube gathersThe service is looking to integrate NFT to monetize content on the platform, said Neil Mohan, the service's director of product.

Cryptocurrency exchange product (ETP) provider with physical security 21Sharesannounced the listing of FTX Token (FTT) and Decentraland (MANA) based instruments on the BX Swiss exchange.

The HydraDX crosschain swap protocol won the auction for the ninth slot of the Polkadot parachain. Users blocked in his supporting more than 2.46 million DOTs at a total cost of $50.65 million.

Bill Miller, founder of Miller Value Partners, in an interview with CNBC, described BTC as insurance against financial catastrophe. He also said he still holds a largepart of personal funds in the first cryptocurrency.

The venture capital arm of cryptocurrency exchange Binance announced an investment in the startup Automata Network. It develops privacy software for dapps.On Saturday, February 12, the bitcoin network's hash rate reached an all-time high of above 248 EH/s. The figure increased by more than 30% over a day, according to Glassnode.

The first cryptocurrency's hashrate chart, smoothed by the 7-day moving average, lastand three months has been on an upward trajectory. During this period, the index increased by almost 50%, to 201.36 EH/s.

In January 2022, the complexity of digital gold mining reached a record 26.64 trillion. In the last recalculationOn February 4, the value rose insignificantly to 26.69 trillion.

The growth of the aggregate computing power of the network indicates the increased stability of the blockchain and demonstrates the development of its infrastructure. The figure has fully recoveredThe "Great Migration" of Chinese miners.

On February 6, the Ethereum network's hash rate also renewed its historical high above 971 TH/s. The graph of the index, smoothed by the 7-day moving average, is at its peak on February 12.he value exceeded 955 TH/s.

Recall that in January 2022 bitcoin miners' income was $1.21 billion, which is 15% lower than the December figure. The share of commissions in the income of miners of the first cryptocurrency fell to a record level - 1.15% or $13.9 ml.Singapore's largest bank, DBS Bank, intends to open a digital asset trading platform targeting individual investors by the end of 2022. This was announced by its CEO Piyush Gupta at a conference with analysts, writes CoinDesk.

The top manager said that DBS Bank has a "huge

work" in anti-fraud and compliance. No details were provided.

In early 2021, the institutionhe company has launched a bitcoin exchange for institutional users. Forklog reported similar plans in October 2020. The platform had a turnover of about $819 million last year and $595.5 million in the fourth quarter.

In the first half of 2022, the bank will focusThe company is focused on the issue of moving the service online for existing clients. Currently, they are forced to submit trade orders "from the voice".

As a reminder, in August 2021, DBS Bank reported the "approval in principle" of the DeneThe Singapore Credit Authority has been authorized to provide cryptocurrency services to asset managers and companies.

In May, the bank placed S$15 million ($11.3 million) worth of security tokens on its digital asset platform.

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