The number of adults in the United States who will use crypto to make purchases in 2022 will increase to 3.6 million, according to a research firm.
A report published by Insider Intelligence shows that crypto's value as a means of payment will go up by 70% this year. The firm predicts that by the end of the year, 3.6 million U.S. adults will have used crypto to make purchases.
According to the company's principal analyst David Morris, crypto's volatility is being alleviated by the growth of stablecoin usage. As CBDCs are being developed, more focus will be brought to crypto becoming a means of payment.
"We also expect that more crypto options will be layered into how people pay, like cards and digital wallets. These factors should spur high crypto payment growth rates over the next few years.”
The firm also predicts that by the end of 2022, U.S adults who are crypto users will increase to 33.7 million. In 2023, the company expects that number to grow even further to 37.2 million. These numbers are significantly lower than previous claims of crypto ownership in the U.S. reaching 46 million in 2021.
Meanwhile, a survey conducted by Gemini exchange showed that new crypto investors nearly doubled in India, Brazil and Hong Kong last year. More than half of the survey participants within these countries mentioned that they started investing in crypto in 2021.
Related: Survey: More than a quarter of U.S. millennials plan to use crypto to fund retirement
A poll conducted by Arcane Research and Ernst & Young found that crypto ownership among Norwegian women also doubled, going from 3% in 2021 to 6% this year. On the other hand, the study also noted that male ownership had increased from 6% in 2019 to 14% in 2022.
The trading volume of Hong Kong's Bitcoin Spot ETF reached approximately $6.3 million, impacted by the ban on mainland Chinese investors from trading, affecting market demand.
MiyukiTerraform Labs advocates for a $1 million penalty instead of the $5.3 billion sought by the SEC after Do Kwon's fraud conviction, arguing for financial responsibility distinctions.
WeiliangIn the midst of a crackdown on crypto privacy technology, Keonne Rodriguez, co-founder of Samourai Wallet, has entered a plea of not guilty to charges of laundering and operating without a license.
KikyoThe Lazarus Group, a North Korean hacking syndicate, has elevated its crypto phishing tactics by exploiting LinkedIn's trust. They impersonate industry figures to lure unsuspecting victims, highlighting the need for enhanced cybersecurity measures in the crypto community.
JoyU.S. legislators have fiercely criticized the SEC's investigation into Ethereum, accusing Chairman Gary Gensler of intentionally misleading Congress.
AlexFormer Binance CEO CZ acknowledged wrongdoing, surrendered voluntarily, and received a four-month sentence, while former FTX CEO SBF opted for trial, asserting innocence, and received a 25-year sentence instead.
CatherineHong Kong's Bitcoin and Ether ETFs launch saw a modest trading volume, indicating cautious investor sentiment amid regulatory concerns and market volatility. Despite the muted response, increased trading volume suggests growing interest, hinting at potential future market impact.
WeatherlyThe recent plunge in Bitcoin has piqued investor interest, with many considering the significant volatility of this digital token as a harbinger of broader changes in global market risk appetites. Charlie Morris, Chief Investment Officer at ByteTree Asset Management, wrote in a report, "Bitcoin is our favorite canary. It serves as a warning of potential future troubles in financial markets, yet we remain confident that it will rebound at some point."
MiyukiChinese police arrest an identity forger involved in StarkNet cryptocurrency airdrop, who illegally obtained tokens and then converted them into USDT stablecoins.
WeiliangGary Gensler's ambiguous position on Ethereum raises questions about the SEC's regulatory approach.
Kikyo