Top 50 Crypto Professionals 2024
The Citywealth Top 50 Crypto Professionals celebrates the trailblazers in the cryptocurrency and digital assets industry. This Top List has been independently curated and thoroughly researched by Citywealth. Please note that any marketing of this content is not permitted at any time without a marketing license, as per our Terms & Conditions. This includes advertisement of inclusion in this list. To purchase a marketing license, please contact Karen Jones
The impact on stablecoins
Problems abound in the crypto world as banking continues to be difficult for Vasps or Casps as Tier 1 banks refuse this customer. Having to hold capital reserves in the same country as set up compounds the problem for instance with Malta as a jurisdiction who cannot offer that. Fund raising has become an issue as well as the BTC ETF buzz has died down and inflows weakened meaning projects are delayed. AI has arrived and the consensus is that investors have shifted their focus. Whether this is true or not remains to be seen as the election holds some promise for trades of a bounce upwards in price. The SEC is busy finding new companies to sue even spreading their reach to NFT’s with reportedly thirty more companies under their gaze. The impact on stablecoins is seen here with Binance USD and True falling down the rankings as they deal with the SEC. Seized SEC assets have also become a problem in redistribution – understanding which are securities and which not as the stash of BTC and ETH is also joined by a plethora of ALTCOINS. Despite this Tether grows apace now being one of the biggest holders of US bonds surpassing Germany.
The stablecoin issuer reported $5.2 billion profit in the first half of 2024 and U.S. debt holdings amounted to $97.6 billion. Tether also bought 10,048,249 shares of Adecoagro, a major milk producer in Argentina, who also works in sugar, ethanol, and energy in Brazil which is almost 10% of the company’s total shares. Token2049 one of the biggest crypto conferences in the world just happened and attendees talk of more custody offerings; OG’s returning from the crypto wilderness to start over, gaming and Abu Dhabi as a rising player. Whatever the issues are in crypto, the regulation is now seriously underway with licences being considered all over the world. Brexit is also seen as a positive for Ireland, no longer torn this way and that with the FCA and MICA. With gaming rising to the top as a key part of crypto; litigation in the US still strong and fund raising difficult, it seems lawyers, accountants and tax advisors are still very much in demand.
Citywealth is always interested in your opinion or news on crypto initiatives or transactions. Please send those to Karen Jones, Editor, Citywealth kjones@citywealthmag.com