Current week update…Find out how digital currency is being used….Share prices and regulations….
::Bitcoin::
- Bitcoin goes over $40K after Paul Tudor Jones II says he wants 5% of his portfolio in BTC. PTJ, who is the Founder and CIO of asset management firm Tudor Investment Corporation, made his comments about Bitcoin during an interview with Andrew Ross Sorkin on CNBC’s “Squawk Box”.
- Software company MicroStrategy has today completed its $500 million offerings of secured notes. The company said it plans to use these proceeds, which it estimates at $488 million after discounts, commissions, and expenses to buy more bitcoin.
- Elon Musk says Tesla would resume accepting bitcoin once miners use more green energy.
- MicroStrategy intends to sell $1 Billion worth of shares to purchase more Bitcoin. MicroStrategy has filed with the U.S. Securities and Exchange Commission to sell as much as $1 billion of its class A common stock to buy more BTC.
- MicroStrategy is writing the corporate Bitcoin accumulation playbook. Michael Saylor’s MicroStrategy continues to lead the corporate world in BTC accumulation.
- Bitcoin mining firm Genesis Digital Assets has purchased an additional 10,000 Bitcoin miners from the ASIC machine manufacturer Canaan. By the end of the month, Canaan plans to complete the order of 10,000 A1246 and A1166 Pro Avalonminers.
- Fund Managers believe Bitcoin is in a bubble. Most investment managers feel Bitcoin is a speculative bubble and agree with the Fed that inflation is just temporary.
- Sichuan authorities order to shut down local bitcoin miners. Sichuan, a major Chinese bitcoin mining hub, is the latest province that has issued an order to shut down local bitcoin miners.
- Binance has launched its new Bitcoin Dominance perpetual contract, BTCDOM. The BTCDOM contract will have a maximum leverage of 25x and use Tether as collateral.
- Bitcoin lost $3K in a day as crypto market cap evaporated $100B. $100 billion are gone from the cryptocurrency market cap as bitcoin kept declining in value to its lowest price line since last Sunday at below $35K.
- Bitcoin price can hit $450K in 2021, $135K is worst-case scenario according to PlanB. The only way is up for BTC price action, the analyst insists, offering a potential 2021 high of $450,000.
- MicroStrategy has purchased an additional BTC 13,005 for around USD 489m in cash at an average price of USD 37,617 per BTC. As of today, they hold BTC 105,085 acquired for around USD 2.741bn at an average price of USD 26,080 per BTC. This stash is now worth USD 3.46bn.
- Authorities seized more than 400 Bitcoin miners in Venezuela this weekend in two major confiscations. Local reports indicate military personnel seized 332 miners from a transport truck. In another procedure, authorities seized 72 miners hidden in a house.
- Veteran analyst Peter Brandt says he’s now more comfortable holding cash than Bitcoin and crypto. In a new tweet, Brandt tells his 535,600 followers that he trimmed his crypto holdings which previously made up 25% of his investment portfolio.
::Blockchain::
- Ramp, the payments infrastructure startup focused on crypto on-ramps, has closed a $9 million seed round led by venture capital firm NfX and Mike Novogratz’s Galaxy Digital.
- Insured Finance showcases MVP ahead of launch. Insured Finance will be the first intuitive two-sided marketplace where users can easily secure versatile digital asset insurance. The featured video showcases the key elements of the upcoming platform.
- Sygnum adds banking services for DeFi Tokens including Aave and Uniswap. The Swiss digital assets bank is launching institutional-grade custody and trading services for DeFi tokens, with yield-generating products to follow.
- Bitwise has raised $70 million in a new funding round. The round was led by Electric Capital and Elad Gil.
- BitDAO, one of the world’s largest decentralized autonomous organizations, has raised $230 million in a funding round. Peter Thiel, Founders Fund, Pantera Capital, and Dragonfly Capital led the round.
- Digital euro could drain 8% of bank deposits, Morgan Stanley says. Banks in smaller countries like Latvia, Estonia and Greece could be impacted harder by the digital euro.
- Grayscale is exploring 13 more investment products, including ones for Solana and Polygon.
- Perlin price gains 100% as the focus on green energy solutions intensifies.
- Decentralized identity can bring the analog world into the digital one. A system of unified digital identity can replace lengthy approval and authentication chains with a simple DLT solution.
- Bank of France completes CBDC settlement experiment with SEBA Bank.
- Polywhale Finance, the first yield farm on Polygon, has abandoned the project and withdrawn over $1 million in tokens.
::Crypto-Currency::
- Korean banks will need to classify crypto exchange clients as high risk. A further tightening of cryptocurrency regulation in South Korea is underway, with new rules for banks and crypto exchange operators.
- Hedge Funds expected to increase crypto holdings over next 5 years. A new survey found that traditional hedge funds plan to invest an average of 7.2% of their holdings in cryptocurrencies.
- Shiba Inu gets listed on Coinbase Pro along with the other assets like Keep Network and Chiliz. After clearing an important milestone, the next target would be to get listed on Robinhood.
- VanEck’s MV Index Solutions has made a strategic investment in London-based data startup CryptoCompare. The firm now boasts 430 paying data clients, spanning regulators, institutions and fintech firms.
- South Korean crypto exchanges banned from handling coins they issued themselves. Exchange tokens are falling under the scrutiny of South Korean regulators.
- TITAN falls nearly 100% in latest Polygon DeFi exploit. Iron Finance share token TITAN falls to near zero after trading at $65.
- Crypto market continues pullback after Mark Cuban loses on TITAN collapse. The billionaire Dallas Mavericks owner has called for stablecoin regulation after the price of TITAN fell to zero.
- Nascar Driver Landon Cassill will receive his entire payment in Litecoin. Mr. Cassill will be the first Nasar Driver to be paid entirely in cryptocurrency.
- Dutch finance minister calls for crypto regulations. The finance minister of the Netherlands thinks regulating cryptocurrency is a more effective way of tackling the growth in digital currency adoption in the country.
- Danske Bank will not block credit cards used in crypto trading, according to its newly announced position on cryptocurrencies. The Danish bank would also accept deposits related to crypto investments.
- UK Bank bans crypto purchases from Binance and Kraken. TSB is reportedly taking actions to prevent its customers from using Kraken and Binance to buy crypto because of their alleged poor safety measures.
- Indian Police arrested Crypto King who traded drugs for Bitcoin. The Crypto King will wait to hear his punishment after being arrested for trading drugs with bitcoin on the Darknet.
- Rich Dad Poor Dad’s Robert Kiyosaki warns of ‘Biggest Crash in World History’, expects $24K Bitcoin price.
::Ethereum::
- Kyber expands to Polygon, announces $30M ‘Rainmaker’ liquidity mining program. The Kyber Network is set to float a $30 million liquidity mining program on both Ethereum and Polygon pools.
- Ethereum transaction fees continue to drop, now at a 5-month low. The average transaction fee on the Ethereum blockchain has continued its downward descent, amid growing demand for decentralized finance products.
Read our previous blogs here.
