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Survey finds crypto will become mainstream in the next decade

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A new survey has found 80 per cent of institutional investors think crypto will overtake traditional investment platforms

Bitstamp is a major crypto trading platform, who recently announced the results of their survey.

It found 70 per cent of respondents believe crypto is a trustworthy investment, with 68 per cent recommending it as part of long-term investment strategies.

It’s the first-ever ‘Crypto Pulse Survey’ for the company, where the vast majority of respondents say crypto will become mainstream in the next decade.

“The survey also found that levels of trust in crypto as an asset class is high. While 67% of retail respondents believe crypto is a trustworthy investment.”

BITSTAMP EXCHANGE

A range of big investors have openly said they are looking at putting their money into cryptocurrency.

Kevin O’Leary from Shark Tank says trillions of dollars will soon move into crypto from institutional investors.

However, the sector has been hit hard over recent months with no signs of change in the near future.

But Louis Mosmann from Platypus says global institutions continue to invest in the space, with a major U.S. player jumping into NFT’s.

“Just this week, Goldman Sachs said they were exploring the tokenisation of real assets. They’re looking a how NFTs, in the context of financial instruments, can be used within the business,” he says.

The Bitstamp survey involved 28,000 people from 23 countries.

Costa is a news producer at ticker NEWS. He has previously worked as a regional journalist at the Southern Highlands Express newspaper. He also has several years' experience in the fire and emergency services sector, where he has worked with researchers, policymakers and local communities. He has also worked at the Seven Network during their Olympic Games coverage and in the ABC Melbourne newsroom. He also holds a Bachelor of Arts (Professional), with expertise in journalism, politics and international relations. His other interests include colonial legacies in the Pacific, counter-terrorism, aviation and travel.

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A British digital currency “later this decade”

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The Bank of England and Britain’s finance ministry think the UK is likely to need to create a central bank digital currency later this decade.

“On the basis of our work to date, the Bank of England and HM Treasury judge that it is likely a digital pound will be needed in the future,” the Telegraph quoted BoE Governor Andrew Bailey and finance minister Jeremy Hunt as saying in the joint report.

“It is too early to commit to build the infrastructure for one, but we are convinced that further preparatory work is justified,” the Telegraph quoted the report saying.

The BoE declined to comment on the Telegraph article, but said a joint consultation on CBDC issues would be published shortly.

A government source said the report would be published next week.

BoE Deputy Governor Jon Cunliffe is due to give a speech on Tuesday to update the finance industry on the BoE’s CBDC work.

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Crypto

Sam Bankman-Fried attempting to resolve bail conditions dispute

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Sam Bankman-Fried is in talks with U.S. prosecutors to resolve a dispute over his bail conditions

The 30-year-old former billionaire has been blocked from contacting employees of FTX or his Alameda Research hedge fund, after prosecutors raised concerns he may tamper with witnesses.

Bankman-Fried has pleaded not guilty and is under house arrest at his parents’ California home.

Once worth an estimated $26 billion, Bankman-Fried was arrested in December after FTX collapsed.

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Crypto

Crypto heists in 2022 totalled $3.8 billion

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Last year was the worst on record for cryptocurrency heists, with hackers stealing as much as $3.8 billion, led by attackers linked to North Korea

A Chainalysis report found hacking activity that “ebbed and flowed” throughout the year, with “huge spikes” in March and October.

October was the biggest single month ever for cryptocurrency hacking, with $775.7 million stolen in 32 separate attacks.

North Korea-linked hackers such as those in the cybercriminal syndicate Lazarus Group have been by far the most prolific cryptocurrency hackers, stealing an estimated $1.7 billion worth of in multiple attacks last year.

North Korea has denied allegations of hacking or other cyberattacks.

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