Blockchain Industry Update (Furucombo, Cardano, Bordier & Cie SCmA, Bitfinex and Tether)

Have a read our last week of February 2021 month Blockchain Industry Update;

::Blockchain::

  • The United Arab Emirates chase crypto and blockchain adoption. UAE regulators are looking to develop a comprehensive crypto governance framework as part of its 2021 business agenda.
  • DeFi Tx Bundler Furucombo hacked for $14 Million. A hacker compromised Furucombo’s proxy smart contract, which enabled them to withdraw ETH and ERC-20 tokens.
  • Cardano’s founder launches RATS pool for ADA staking.

::Bitcoin::

  • The price of Bitcoin plummeted by more than 17% in the last 24 hours as the futures market saw mass liquidations across the board. A staggering $5.64 billion worth of futures positions was liquidated in the last 24 hours as the price of Bitcoin dropped.
  • Bill Gates warns bitcoin buyers to watch out if they don’t have as much money as Elon Musk. The Microsoft founder Bill Gates thinks anyone with less money than the world’s richest man should watch out when it comes to Bitcoin.
  • Square adds $170 Million more in Bitcoin to balance sheet. The company now holds 5% of total cash reserves in BTC.
  • MicroStrategy buys an additional $1 billion BTC. Firm not ready to pause its Bitcoin investments.
  • inbase holds $230 Million in Bitcoin on its balance sheet. Crypto exchange Coinbase has been holding cryptocurrency on its balance sheet since 2012. It has now revealed how much it holds.
  • Dubai Fund sells $750 Million of Bitcoin to buy Cardano and Polkadot. The Dubai-based fund says Bitcoin is “pretty useless” and altcoins like Cardano are a better bet for new investors.
  • The first North American ETF launched by Purpose Group reached another milestone within a week of its public launch as it accumulated over 10,000 Bitcoin from the market until now.
  • MicroStrategy owns 90,531 bitcoins. But this is not the end for Michal Saylor, it is just the beginning, as he doesn’t rule out a future purchase.
  • Single Whale just moved $333 Million Bitcoin. Another mysterious whale transferred 7,073 BTC today, joining the growing list of February whale sightings.
  • Bitcoin plunges below $44K as miners capitulate. BTC miners have offloaded massive portions of BTC as its price keeps suffering to a low beneath $44,000, ETH lost 35% since reaching ATH 8 days ago.
  • Coinbase is the next Facebook. Coinbase is a rare profitable unicorn and will offer public market investors a chance to buy into the crypto craze without buying Bitcoin.

::Crypto::

  • Bordier & Cie SCmA, a 134-year-old Swiss bank, has decided to enter the crypto market space. The private bank will incorporate Sygnum’s B2B banking platform to offer Bordier clients the facility to trade Bitcoin.
  • Bitfinex and Tether settle with NY Attorney General for $18.5M finally.
  • Logan Paul sells $3,500,000 in crypto art in just 24 hours through Polkadot-Based Project.
  • Jim Cramer thinks GameStop should convert their stores into crypto info centers. The Mad Money host proposed that the company’s brick and mortar shops could become “crypto-information palaces” in which gamers could buy and sell cryptocurrencies.
  • Crypto Art on Sale at Christie’s hits $1 Million Within 10 Minutes. Bidding for a piece of digital art at auction house Christie’s reached $1 million within just a few minutes of going on sale.
  • New crypto rules in Thailand might require retail investors to show income before opening trading accounts.
  • Robinhood Crypto records 6 million customers in 2021. Robinhood already sees a boom in crypto trading, as average new monthly users have surged by 15x.
  • Dubai Crypto Funds backing helps Cardano unsettle Binance Coin as the third-largest crypto.
  • Kraken to double its valuation to $10 Billion via funding round. Some of the giant names potentially participating in the latest funding round include Fidelity, General Atlantic, and Tribe Capital.

::Ethereum::

  • Grayscale buys $25 million worth of Ethereum after the price drops to $1600. Ethereum dipped nearly 20% in the last five days.
  • ETHBOX is the best security and privacy platform on the market for your transactions on the Ethereum blockchain. More people are using ETH these days to pay for services, purchase goods and more but security and privacy is important.
  • CoinShares launches a $75 Million physically-backed Ethereum ETP. CoinShares has launched an Ethereum ETP on Switzerland’s stock exchange with $75 million in AUM.

::Others::

  • CoinShares will list its shares on Nasdaq First North Growth Market in Stockholm on March 11. The company is currently running a share issue of about 151 million Swedish Krona.
  • The Philippine Digital Asset Exchange is recovering from a glitch that enabled some users to buy Bitcoin for about $6,000 per coin.
  • The exchange rate of USDT to Renminbi has now flipped to a 2% premium compared to the foreign exchange rate between USD and RMB. The flip indicates a near-term tightness of USDT liquidity as almost $6 billion in crypto derivatives positions have been liquidated.

Credit: Telegram VYSYN – Capital News