Why institutional investors avoid cryptocurrencies and Google Play removes crypto news apps

KPMG: Institutional investors do not embrace the cryptocurrency market because of hackers

An audit company from the Big Four conducted an analysis of the cryptocurrency market and explained why institutional investors have not been embracing it yet.

Hackers have stolen $9.8 billion worth of crypto since 2017 due to security and code issues, the report said. A low level of security is the main reason holding large investors back, KPMG experts say.

“Institutional investors especially will not risk owning crypto assets if their value cannot be safeguarded in the same way their cash, stocks and bonds are,” Sal Ternullo, co-leader of KPMG’s crypto-asset services, said.

Google Play removes cryptocurrency news apps

Cryptocurrency news resources apps have started to disappear from Google’s Play Store for Android smartphone apps, Cointelegraph writes.

At the moment, the store has neither the application of Cointelegraph nor of the popular portal CoinDesk. According to Cointelegraph, they were not contacted by Google Play regarding. The media reached out to the company but has not yet received a response.

In December 2019, the MetaMask Ethereum wallet disappeared from Google Play, after the owners contacted the store, it was returned.

Bitfinex Exchange to delist 46 trading pairs

On March 6, the Bitfinex cryptocurrency platform will conduct mass delisting. 46 trading pairs with Ethereum, Bitcoin, DAI and Japanese Yen will be removed due to low liquidity on the platform.

Such pairs as XVG/ETH, XVG/JPY, OMG/DAI, ZRX/DAI will be delisted.

“The removal of these trading pairs is a common measure that serves to consolidate and improve liquidity on Bitfinex, leading to a more streamlined and optimised trading experience for our users,” the exchange said.

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