The Daily Dose

Fears that Bitcoin whales could dump enormous amounts of coins crash the market might be absolutely groundless – or so does new research suggest. Researchers from Chainalysis examined the transaction history of the 32 largest Bitcoin wallets and concluded that – contrary to popular belief – big-time cryptocurrency whales play a crucial role in keeping the market stable. More than one type of whale Chainalysis identified four types of whales: Traders, miners and early adopters, wallets with lost private keys, and criminals. Miners and early adopters have been hodling their cryptocurrency of late; their trading activity is extremely low. Chainalysis…

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Singapore’s financial regulator has revealed it will help local cryptocurrency firms set up traditional bank accounts, to help boost the country’s fintech economy. “What we are trying to do is to bring the banks and cryptocurrency fintech startups together to see if there is some understanding they can reach,” Monetary Authority of Singapore managing director Ravi Menon told Bloomberg. Before you go moving to Singapore to set up your new blockchain-based firm in search of crypto-riches, Menon also made it clear that this help will only be for local Singaporean businesses. “We should not be trying to create an extremely…

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