Big Companies Still Love Crypto, Even When Prices Drop

The crypto market is going through a rough patch. Bitcoin's value has fallen below $100, 000, but that hasn't stopped major companies and banks from jumping into digital assets. In the United States, a well-known trading platform and bank has started offering crypto trading services to big clients. Meanwhile, the Singapore Exchange is also introducing new crypto trading options. It's surprising how much Bitcoin big companies own. They now hold 14% of all Bitcoin. Some people are concerned that this could make Bitcoin less decentralized. Others think it's not a big deal because the network remains decentralized even with big players involved. SoFi, a digital finance company, recently announced that they will offer crypto trading to regular people in the United States. Their CEO mentioned that they were waiting for the right policies to make this happen. With new rules from the US Office of the Comptroller of the Currency, they are now ready to go. In Singapore, the big exchange is launching new crypto trading options too. These options are only for experienced investors and will be regulated by the Monetary Authority of Singapore. Perpetual futures, which allow traders to bet on prices without an expiry date, are very popular in the crypto world. The US tax agency, the IRS, has also given the green light for crypto exchange-traded products to stake digital assets. This means investors can earn rewards, and it's good news for institutions wanting to offer these products. Hong Kong is also getting involved. They are releasing their third batch of blockchain bonds, worth about $1. 28 billion. These bonds are popular with big investors from all over the world. Even though the market is shaky, big players are still betting big on crypto. New financial products are popping up, and institutions are looking ahead. It's clear that despite the ups and downs, the interest in crypto is not fading away.