Blockchain Industry Update (Elon Musk, MicroStrategy, Presearch, Robinhood)

Decentralized finance is the next great thing in shape after paper money. Check out projects that boosting this economy and much more interesting news.

TF: this week has really been interesting thanks to volatility in both stock and crypto markets due to Reddit and Robinhood investors, Elon Musk’s tweet, Dogecoin rally etc.

::Bitcoin::

  • Grayscale registers long list of Altcoin Trusts, sparks rumors of support for Cardano, Polkadot and additional assets.
  • Bitcoin shoots to $38K on boost from Tesla’s Elon Musk.
  • Bitcoin developer Jonas Schnelli receives a $96,000 grant from Marathon Patent Group.
  • MicroStrategy won’t stop at 70,784 BTC. The firm is planning to hold more Bitcoin. The CEO said they are exploring more ways to buy BTC.
  • Ray Dalio now considering a long-term Bitcoin Position. Famous economist and founder of the world’s largest hedge fund Ray Dalio has written to investors about Bitcoin.

::Blockchain::

  • Melvin Capital takes huge loss on GameStop position. The fund has finally exited its GameStop short position, taking heavy losses. But it hasn’t gone bankrupt.
  • DeFi market registers 160% growth over last month. UNI leads along with AAVE, MKR and SUSHI.
  • Mark Cuban’s DeFi portfolio snapshot reveals over $128,000 in staked AAVE. Billionaire tech investor Mark Cuban is an AAVE Whale, according to a snapshot of his on-chain portfolio on Etherscan.
  • DeFi is the future of banking that humanity deserves. Public trust in banks and bankers never fully recovered after the Great Recession, and DeFi has ground to cover in this particular area.
  • Uniswap and Compound hit new highs as DeFi TVL reaches $27.6B. The governance tokens for Uniswap and Compound reached new 2021 highs as altcoins and DeFi tokens pushed higher today.
  • Aave’s founder angel invests to grow DeFi’s head start on the banks. Stain Kulechov has backed nearly 40 projects in his search for founders who see two or three moves ahead.
  • Philippines central bank has issued new guidelines for the digital currency industry based on the Financial Action Task Force guidelines.
  • Moonrock Capital reveals third incubation of Polkamarkets, a DeFi-Powered Prediction Market.

::Crypto::

  • South African Regulator seeks more crypto powers after alleged ponzi schemer’s collapse.
  • FTX Token rallies 105% as interest in derivatives trading grows. FTX surpassed BitMEX and Deribit’s open interest, the derivatives space is booming.
  • World’s largest Hedge Fund Bridgewater has crypto plans. Ray Dalio reveals that he and his colleagues at Bridgewater are intently focusing on alternative store hold of wealth assets.
  • Crypto exchange Bittrex has added support for all the tokenized stocks delisted from Robinhood and other trading platforms.
  • Indian Lawmakers introduce new bill to ban Private Cryptocurrencies. Indian lawmakers will discuss and vote on the bill in the upcoming budget session of the parliament.
  • Google competitor Presearch launches decentralized search engine. Presearch aims to end Google’s search monopoly while providing privacy and rewarding users with crypto.
  • Dogecoin becomes most mentioned crypto on Twitter ever as price soars. Tweet volume for the shiba inu-themed cryptocurrency surpassed previous records for Bitcoin.
  • The central bank of the Philippines recently announced new crypto regulations. The bank will now offer licenses to crypto businesses involved in trading and custody.

::Others::

  • WallStreetBets Telegram Group gets 40,000 members in 24 Hours. An unofficial WallStreetBets Telegram channel has been set up in case its Reddit and Discord channels get censored.
  • Robinhood suspends buying for GameStop following stonks going to the moon. The video game retailer had its own GME Army pushing the price of the stock to an all-time high before platforms stepped in.
  • Pomp launches crypto jobs board with Gemini, Coinbase and BlockFi. Morgan Creek’s Anthony Pompliano aims to list 10,000 openings by the end of the year.

Credit: Telegram VYSYN – Capital News

Default image
Mansi Nashte
Articles: 57

Newsletter Updates

Enter your email address below to subscribe to our newsletter