Crypto assets could replace fiat currencies within as little as 5 years, financial execs tell Deloitte | Currency News | Financial and Business News

Representations of virtual currency bitcoin are placed on US dollar banknotes taken May 26, 2020.
  • Digital assets will replace or rival fiat within 5-10 years, 76% of finance industry execs told a Deloitte survey.
  • Financial services firms must get on board with cryptocurrencies, digital assets and blockchain, or risk losing out to rivals, they believe.
  • Stablecoins and central bank digital currencies were identified as a potential focus for firms looking to benefit from the shift.
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Most financial professionals expect digital assets will replace government-issued

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Your Clients May Already Own Crypto. Here’s How to Hold It



  • Products and services to help advisors handle crypto on behalf of clients are only just emerging.

  • Even so, most serious cryptocurrency investors want to hold tokens directly.

  • Advisors should understand how hot wallets and cold storage work for their crypto investor clients.

How do we advise clients on an asset we can’t (yet) handle directly?

Clients are already asking about investing in cryptocurrencies, but within the next tax year, they’ll almost certainly be asking about what to do with the digital tokens they already have.

That’s because billions of dollars in new wealth have been created since bitcoin roared

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Goldman Sachs Crypto Alums Raise $4M for DeFi Protocol Ondo


NEW YORK, Aug. 17, 2021 (GLOBE NEWSWIRE) — Ondo Finance announced today it has raised $4M to bring programmable DeFi returns to investors with a wide array of risk preferences. The equity round was led by Pantera Capital with participation from Genesis, Digital Currency Group, CMS, CoinFund, Chapter One, Bixin, Divergence, Protoscale Capital, and The LAO, alongside angel investors such as Stani Kulechov (founder Aave), Josh Hannah (founder Betfair), Richard Ma (founder Quantstamp), Diogo Monica (co-founder Anchorage), and Christy Choi (former Head of Investments at Binance).

Ondo is a permissionless protocol built to accelerate DeFi adoption among mainstream investors by

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Analysis: Decentralised finance: Latest front in crypto’s hacking problem

  • Peer-to-peer DeFi crypto platforms emerge as major hacking risk
  • Estimated $80 billion or more held on DeFi platforms
  • Regulation patchy so usually little or no recourse for victims
  • SEC chair Gensler has signalled will take a tough stance on DeFi

LONDON, Aug 16 (Reuters) – For most of the 13-year life of cryptocurrencies, exchanges were the epicentre for cyberheists. Now, a bigger hacking risk in the growing sector has exploded into view: peer-to-peer crypto platforms.

One such site, Poly Network, was at the centre of a $610 million crypto theft last week, one of the biggest ever. Within days of

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Why Bitcoin-Related And Ethereum-Related Stocks Are Moving Today


Shares of crypto-related stocks, including Marathon Digital Holdings Inc (NASDAQ: MARA), Riot Blockchain Inc (NASDAQ: RIOT) and Coinbase Global Inc (NASDAQ: COIN) are trading higher amid an increase in the price of Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH).

Bitcoin is trading higher by 1.6% at around $50,227 Monday morning.

Ethereum is trading higher by 2.1% at around $3,333 Monday morning.

Marathon Digital focuses on mining digital assets. It owns crypto-currency mining machines and a data center to mine digital assets. The company operates in the digital currency blockchain segment and its cryptocurrency machines are located

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Ethereum Classic Stops For Gas, Along With Bitcoin And Doge, On Bullish Moon Trip


On Saturday morning Ethereum Classic (CRYPTO: ETC), along with apex cryptocurrency Bitcoin (CRYPTO: BTC) and the ever-popular Dogecoin (CRYPTO: DOGE), was consolidating Friday’s bullish trek north. All three cryptos have recently had a relative strength index (RSI) of over 70% which puts them into overbought conditions for technical traders.

A cryptocurrency, like a stock, always enters into a period of consolidation after either a large incline or decline. Ethereum Classic rose 137% between its June 22 low of $32.17 and its Aug. 15 high of $77.37. Although bulls would love to see the original Ethereum version ‘moon’

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