Blockchain Industry Update (Netflix, BitGo, BitMEX, Kraken)

Non-Fungible Token or NFT craze hoping in recent weeks. Many celebrities releasing a new album as NFT. Millionaires and famous sports like NBA too tweeting and investing in it. Let’s find out more about it in our this week’s update. Also checkout our previous updates here.

Bitcoin

  • Netflix might be next Fortune 100 firm to buy Bitcoin. Tim Draper picks Netflix among major companies as the most likely to put Bitcoin on its balance sheet.
  • Veteran Investor Jim Rogers regrets not buying Bitcoin, fears regulation.
  • Kraken CEO and co-founder Jesse Powell said he believes the price of Bitcoin is going to infinity when asked about his expectation about the cryptocurrency’s price.
  • BitMEX considers adding spot trading and custody services. Alexander Höptner, CEO of BitMEX operator 100x Group, revealed the plan in a Bloomberg interview.
  • Coinbase CEO Brian Armstrong’s estimated wealth surged 10-fold over the past year to hit $11.5 billion.
  • The Grayscale Bitcoin Trust has been having its most adverse month in its seven-year history. GBTC has dropped to nearly a 12% discount, its highest ever.
  • Celsius Network valued at $3.1B following an independent review. Celsius is expected to grow its assets under management by 25% annually through 2025.
  • Hong Kong-listed Meitu bought $40M worth of Bitcoin and Ethereum.
  • Norwegian multinational Aker ASA to invest in Bitcoin through new unit. Another publicly-traded company is buying Bitcoin. Aker ASA has set up Seetee AS, a new unit that will hold all its liquid assets in Bitcoin.

Cryptocurrency

  • Tether’s supply dominance hits record low. As USDC strengthens its positions, USDT is losing its market share.
  • BitGo receives trust license from New York regulators. Goldman Sachs-backed crypto custodian BitGo has acquired a New York Trust license to operate as an independent custodian in the state.
  • Crypto dot com launches $200M investment fund for cryptocurrency startups. The $200 million will be used to invest in seed and Series A funding rounds for promising cryptocurrency startups.
  • Kraken seeks $20 Billion valuation in new funding round. Kraken engaged in an aggressive fundraising push that seeks to double the $10 billion valuation the company earlier sought.
  • Bloomberg Terminal adds price data for Chainlink and 5 other coins. Institutional investors can now track a wider variety of cryptocurrencies on the Bloomberg Terminal.
  • Crypto Cashback App Eco raises $26 Million in funding round led by Andreessen Horowitz. Eco might be new, but it got some big names already singing its praises.
  • John McAfee indicted for crypto pump and dump schemes, illegal ICO promotion
  • Thailand’s crypto market seeks clear regulations around the booming industry. Thailand claims to be one of the more regulated crypto trading markets in the world, with exchanges having to adhere to strict regulatory standards.
  • Turkish finance ministry is working on crypto regulations. The Turkish Ministry of Treasury and Finance tweeted that it was beginning work with a number of regulatory bodies in the country to regulate cryptocurrency.
  • Ubisoft-Backed Crypto Game offers up $2.5 Million Fund for devs. Developer Planetarium seeks to reward the community with a grant fund for creators of tools and content for the open-source game.
  • PayPal has revealed it has agreed to acquired Israel-based cryptocurrency custody firm Curv for less than $200 million. The deal is expected to close in the first half of this year.

Ethereum

  • Major Ethereum gas fee overhaul EIP-1559 scheduled for July. Users and investors delight as EIP-1559 is scheduled for July, but ETH miners are less than thrilled.
  • Deutsche Borse’s platform Xetra to list its first Ether ETPs. Deutsche Borse’s Xetra prepares to list two Ether ETPs and a Bitcoin Cash ETP on Tuesday, stating that crypto ETFs are unlikely to come soon due to EU regulations.

NFT

  • Hex Trust launches custody service for Ethereum NFTs. With some NFTs now worth millions of dollars, Hex Trust is offering to look after them for you in its digital vaults.
  • Charlie Lee has compared the current NFT boom to ICOs in 2017 and altcoins in 2013. He cites that NFTs are easy to create, simple and are bringing in new people into crypto.
  • Trading of NFTs is booming in the crypto-verse. The top 3 NFT marketplace had a combined trading volume of $342 million in February.
  • Burned Up Banksy NFT just sold for $382k. The painting’s burning is a powerful symbol of people’s growing belief in non-fungible tokens.
  • Ultra hits a new all-time high as blockchain gaming and NFTs boom. Ultra gains momentum as the popularity of NFTs and cross-chain interoperability help propel the UOS token to new highs.

Others

  • Alpha Finance is launching on Binance Smart Chain as part of a plan to embrace a multi-chain future.
  • The United Arab Emirates green digitization vision. The COVID-19 pandemic has revealed the need for sustainable digitization of the economy, and the UAE is accepting the challenge.