This week’s Crypto Business explains how concerns about the banking system have an affect on the crypto industry as well as the most recent advancements in global crypto acceptance. Bitcoin rises, OKX leaves Canada, Mastercard allows USDC on its network, and MetaMask has teamed up with MoonPay to allow for direct cryptocurrency purchases in Nigeria. Decentralized finance (DeFi) and traditional finance are continue to converge despite the turbulence in the world’s banks and regulatory crackdowns.
Due to “new restrictions,” OKX will discontinue operations in Canada by June 22, 2023, and will close any open positions in options, margins, perpetuals, and futures contracts by that date. CEO of ARK Invest Cathie Wood anticipates that most companies would allocate between 2.5% and 6.5% of their investment portfolios to BTC by 2030. She believes that the financial crisis increase will draw more institutional investors towards Bitcoin.
