Crypto casino platform Cloudbet has added Dogecoin (DOGE) and Litecoin (LTC) to its platform as they were the most voted crypto coins in a recent survey.
Cloudbet, the pioneering crypto sportsbook, announced the news in a press releases on Thursday, May 6. According to the announcement, the new addition came after the two coins drew the most votes in a recent survey of almost 10,000 customers about which new currencies to add.
Founded in 2013, Cloudbet established itself as a leading bitcoin betting operator, with a reputation built on unparalleled security and speedy withdrawals. It is an is an online platform for sports betting and Casino games, with transactions in Bitcoin (BTC). It is one of the very first Bitcoin betting platforms to market.
It offers three services: Crypto sportsbook, crypto casino, and betting on live Esports events. It uses blockchain technology to give players privacy and financial freedom and have earned a reputation as the most trusted and secure name in the crypto-gaming space.
In the recent announcement, the Cloudbet has announced that it has opened Dogecoin casino where users can bet and play casino games with Dogecoin (DOGE). With the addition of Litecoin (LTC), the total number cryptocurrencies supported by Cloudbet have increased to 12. That include Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Link (LINK), PAX, PAXG, USDT, USDC, and DAI. These dozen coins collectively account for more than 80% of the total market capitalization of all cryptocurrencies.
With Dogecoin casino, users can play crypto casino games like slots, jackpot slots and live-dealer tables for the best Dogecoin blackjack, poker, roulette and baccarat experience available online. They can also bet on live sports events through Cloudbet’s sportsbook.
Cloudbet is also offering a bonus where first-time players seeking the most engaging experience in Dogecoin and Litecoin betting are eligible for a much generous welcome bonus of up to 10,000 Doge or 5 LTC.
According to the company, both Dogecoin and Litecoin were the most wanted crypto coins from Cloudbet users. Dogecoin’s 13,000% growth in 2021 has caused crypto and mainstream audiences alike to sit up and take notice. Dogecoin is currently ranked at number 4 with a market cap of nearly $80 million. LTC is also 150% up this year.
Camilla Wright, a Cloudbet spokesperson, commented:
“The people have spoken. We will only add currencies that our customers hold and use: That’s been the central part of our integration philosophy since we opened for business. More new coins are coming soon.”
Grayscale’s Top Executive Joins Robinhood as New Chief Compliance Officer
Robinhood hires a new CCO, the chief compliance officer of Grayscale
Robinhood brokerage app has welcomed Benjamin Melnicki as a new Chief Compliance Officer, who is also the holder of the same position at Grayscale Investments. He joined Grayscale in early January this year.
At the moment, Robinhood’s cryptocurrency arm is facing scrutiny from financial regulators. Last year, Robinhood was a target of an investigation connected to anti money laundering and certain cybersecurity problems experiences by its crypto division.
*Robinhood's Crypto Unit Hires New Chief Compliance Officer From Grayscale
*Benjamin Melnicki's Appointment Follows Scott Hershorin's Departure in June
*Appointment Comes as Robinhood's Crypto Unit Faces Regulatory Scrutiny$HOOD— *Walter Bloomberg (@DeItaone) September 24, 2021
As reported by U.Today previously, later this year, the brokerage firm plans to roll out cryptocurrency wallets for its users. The trials of wallets will kick off in October and will allow customers to deposit and withdraw cryptocurrencies to addresses beyond Robinhood seamlessly.
Average Aussie crypto portfolio grew 258% in FY 20-21, survey reveals
The average portfolio size on Australian cryptocurrency exchange BTC Markets has grown from $577.65 (795.5 Australian dollars) to $2,069.16 (2849.5 AUD) in the financial year 2021, signaling a 258.2% increase in portfolio holdings, according to exchange data compiled by Statista on a recent BTC Markets survey.
Data on the survey shows that the average portfolio size of female and male investors in fiscal 20-21 on BTC Markets was $1,924.30 (2,650 AUD) and $2,214.03 (3,049 AUD), respectively. However, in 2020, the average portfolio size of female Aussie investors exceeded male investors slightly.
Transaction data on the exchange also showed a pattern of growing investment demand with aging. Considering the data provided by BTC Market on Australia’s average initial investment, investors above 65 years old have invested roughly $3,158.03, the highest ofall demographics.
Following an incremental reduction across the various age groups, the youngest cryptocurrency traders, ranging from 18 to 24 years, tend to make comparatively small investments, standing at $792.96 on average. While older Australian crypto investors outweigh the new generation in initial investment, the younger crowd shows comparatively more activity in terms of daily trades.
Resonating the findings above, a September report from financial comparison website Finder shows that one in six Australians own cryptocurrencies, amounting to $8 billion in total investment. The report suggests that, like many other users in advanced industrialized countries, Australians were increasingly viewing cryptocurrencies as a new asset class.
According to Cointelegraph’s report on the matter, Bitcoin (BTC) is the most popular cryptocurrency for the Australian crypto market held by 9% of investors. Other popular investments include Ether (ETH), Dogecoin (DOGE) and Bitcoin Cash (BCH). The report showed that, despite the growth in crypto investments, a significant barrier to entry for Australians is the difficulty in understanding crypto and the risks related to volatility.
Switzerland to Impose Anti-Money Laundering Rules on Crypto Providers: Report
FINMA requires all cryptocurrency providers to step up their game and monitor whether criminals use digital assets in illicit transactions.
The Swiss Financial Market Supervisory Authority – FINMA – would reportedly require local digital asset providers to take additional steps in preventing criminals from employing cryptocurrencies. The watchdog would also turn its sight towards bitcoin ATMs as it believes that drug dealers often use these machines.
FINMA Targets Criminals Operating with Crypto
According to a Finews report, Switzerland’s financial regulator – the Swiss Financial Market Supervisory Authority or simply FINMA – would closely supervise local crypto providers as an attempt to clamp down on money-laundering transactions.
Swiss platforms and brokers dealing with digital assets would have to enhance their monitoring efforts and observe if bad actors employ cryptocurrencies. The Bern-based watchdog believes the initiative is “urgently necessary,” stressing that criminals use the asset class even to fund terrorism acts.
FINMA also turned its attention towards bitcoin automated teller machines. According to the regulator, drug dealers frequently use such ATMs as payment systems. It is worth noting that Switzerland is a relatively small nation, but its 130 Bitcoin automated teller machines place it in the sixth position among the countries with the most stations.
FINMA also passed an anti-money laundering provision according to which it lowered the threshold for unidentified crypto purchases from 5,000 Swiss Francs (CHF) to 1,000 CHF (around $1,080). Or, in other words, all financial providers dealing with digital assets have to collect data on anyone initiating transactions that exceed this amount.
UBS: Crypto Regulations Could Spell Trouble
One of the leading banks in Switzerland – UBS – recently shared its views on the hot topic of digital asset regulations as it indicated that implementing certain rules might negatively impact the market.
Furthermore, the bank warned its customers that regulatory crackdowns can pop the “bubble-like” crypto markets. The Swiss bank also labeled the asset class as “speculative” alerting that it could be dangerous for professional investors:
“While we can’t rule out future price gains in cryptos, we see this as a speculative market that poses significant risks to professional investors.”
On another note, though, when the cryptocurrency market was booming at the beginning of May, UBS demonstrated a different attitude. Back then, it intended to enable its wealthy customers to receive digital asset exposure later in 2021 through third-party vehicles.
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