Tom Lee says that the crypto winter is over, and the Ripple CEO says that banks will have to embrace blockchain – let’s start the show! Welcome back to crypto global news, thanks to tuning into today’s show – I am Edward, we would really appreciate it if you like, share and subscribe, enjoy today’s episode. Fundstrat Global Advisors co-founder Tom Lee who many folks listen to in the crypto space, has claimed that the crypto winter is over. Lee said that the recent Consensus conference in New York City was the latest of 13 signs indicating that the industry is recovering after a tough few months. His timeline of events documenting the turnaround dates back to November 2018, when a bitcoin cash (BCH) hard fork battle exhausted the bitcoin (BTC) supply held by two rival mining pools. Other significant milestones listed by Lee include Jan. 23 of this year, when on-chain transactions turned positive year-on-year for the first time in 12 months. With the changing sentiment in the marketplace, what is in store for the rest of the crypto world in 2019? A senior official in Russia’s parliament, has argued that cryptocurrencies have the potential to ruin governments. a member of the Communist Party of the Russian Federation and vice-chairman of the Duma’s committee on economic policy, innovative development and entrepreneurship, claimed that cryptocurrencies were created in order to hide large offshore assets from the government. If cryptos such as bitcoin had emerged by 1994, Russia would have been “fully destroyed” so far because it would have lost all its capital offshore, the representative stated, speaking at a recent press conference of local media agency, National News Service. Will the sentiments from Nikolai push the Russians away from the world of cryptocurrency? A not so well known crypto token isn’t intimidated by the market gloom, and it took advantage of one concrete announcement and one wild rumor to surge more than 75% in a single day. Matic Network, a blockchain project aimed at scaling Ethereum, rose as much as 76% to $0.32 on the day. Matic’s daily trading volume of over $250 million exceeded the daily volume of larger projects like Cardano, Monero, and IOTA. Since the start of May, the coin has gained over 610%. Is matic the next cryptocurrency to keep a close eye on? London-based global funds network Calastone announced that it switched its entire system for fund trade clearing services to its blockchain Distributed Market Infrastructure. From=a recent press release, the migration of the company’s over 1,800 customers over 41 markets “represents the largest community of global financial services organisations connecting and transacting via distributed ledger technology.” In the announcement, the institution also forecasts that the resulting savings for the mutual funds market will amount to over £3.4 billion per year ($4.33 billion). The release reads. If this does work,will other large institutions follow suit? Ripple CEO Brad Garlinghouse has mused that the biggest banks have a strong reason to embrace cryptocurrency and blockchain innovation. The CEO made his remarks during a recent interview . Throughout the talk, Garlinghouse underscored that Ripple’s approach is to work with financial institutions and regulators — with and not against the system. He contended that the idea of anonymous transactions that circumvent government and other authorities will not prevail, given global regulatory concerns about money laundering and terrorism financing. But what does this look like moving forward? One of the main attractions to the world of cryptocurrency is its anonymous or at least decentralized nature. The embracement by the big banks may scare of some crypto purists, but it may bring in a whole new swath of outsiders into the mix. Only time will tell. Many thanks for tuning into today’s episode, please make sure you like share and subscribe, For crypto global news I’m Edward, until next time you take it easy.