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March 2021 – Weekly Recap 3

Weekly Recap

April 12th, 2021 - April 18th, 2021

Welcome to our 3rd weekly recap for April.

Overview 

Crypto News

United States aerospace and defense contractor Lockheed Martin has signed an agreement with SyncFab, a Silicon Valley distributed manufacturing platform, to streamline supplier capabilities across Switzerland, offering yet another tangible use case for blockchain technology.

 

Coinbase has finally made its debut on the Nasdaq exchange, kicking off its new journey as a publicly traded company that many bulls believe could be the next Amazon.

 

After awing the world with a video macaque playing a video game with its brain earlier this month, billionaire Elon Musk is once again tweeting about Dogecoin after almost a month-long break.

 

At around 3 p.m. today, Ethereum (ETH) developers and analysts across the globe started reporting unexpected issues with Ethereum (ETH) nodes managed by the OpenEthereum (OE) client, formerly known as Parity.

 

Toronto-based asset management company Purpose Investments has obtained approval from Canadian securities regulators to launch the world’s first Ethereum exchange-traded product, according to its Apr. 16 press release.

 

Binance exchange has given its native token holders another reason to celebrate holding BNB. In its latest quarterly BNB burn, the exchange has set a record with a total of 1,099,888 BNB wiped out from the total supply.

 

On Saturday (April 17), Litecoin ($LTC) broke through the $335 level for the first time since December 2017. Although HODLers are delighted with the 143% gain (vs USD) so far in 2021, one crypto analyst believes the LTC price is headed much higher.

 

According to Chinese blogger Colin Wu, he said that cryptocurrencies like Bitcoin were supposed to be used as alternative investment tools instead of currencies. Until the PBOC figures out what regulatory framework will be appropriate for such assets, the current policies will remain in place.

 

Chainlink has released a new whitepaper called Chainlink 2.0: Next Steps in the Evolution of Decentralized Oracle Networks. The new whitepaper outlines an ambitious vision for the future of smart contracts. We talk with Chainlink co-founder Sergey Nazarov who explains the implications for the next generation of blockchain ecosystems.

 

 

 

April 2021 – Weekly Recap 2

Weekly Recap

April 5th, 2021 - April 12th, 2021

Welcome to our 2nd weekly recap for April.

Overview 

Crypto News

After releasing physically-backed exchange-traded products tracking the performance of Bitcoin (BTC) and Ethereum (ETH) earlier this year, CoinShares has expanded its portfolio with the addition of a Litecoin ETP.

 

Ripple Labs has been granted access to the United States Securities and Exchange Commission’s documents “expressing the agency’s interpretation or views” on the subject of crypto assets.

 

According to an April 7 report by financial news outlet TheStreet, New York-based Millennium Management has traded the shares of Grayscale’s Bitcoin Trust.

According to analytics website Bybt, over the past 30 days, the largest buyer of Bitcoin and other crypto assets, Grayscale, has acquired millions of altcoins that it has recently added as the basis for new trusts.

 

Another major US-based cryptocurrency exchange is reportedly considering going public. Kraken revealed record-breaking Q1 numbers and is also planning an IPO – following in the footsteps of Coinbase.

 

Regulators in the U.S. have yet to offer clarity around the legality of Bitcoin and Ethereum. Although the former has been unofficially deemed a commodity, the latter could fall in line with Ripple’s security status.

 

Buying MicroStrategy stock is reportedly no longer possible for HSBC customers on the bank’s online trading platform — HSBC InvestDirect, or HIDC.

 

Ripple Labs Inc. has come out victorious against The U.S. Securities and Exchange Commission (SEC) related to the revealing of employees personal finance records.

 

Crypto exchange Binance has ventured into the space of tokenized stock trading, following the likes of FTX and Bittrex Global.

 

 

 

April 2021 – Weekly Recap 1

Weekly Recap

March 29th, 2021 - April 5th, 2021

Welcome to our 1st weekly recap for April.

Overview 

Crypto News

“It’s everything from exchanges, asset managers, custodians, to the mundane like tax reporting on your crypto gains and everything in between.”

So says Dawn Fitzpatrick (pictured), the chief investment officer of Soros Fund Management, in an interview with Bloomberg.

The largest Bitcoin buying fund, which also offers exposure to altcoins—including Ethereum and Stellar—has added 5,566,271 XLM and other altcoins, whose trusts have been launched recently.

Shortly after getting a court authorization to obtain records of cryptocurrency exchange Circle’s customers, the US Internal Revenue Service (IRS) is now seeking to get access to similar data from trading platform Kraken.

Goldman Sachs is reportedly preparing to issue its first investment channels for Bitcoin (BTC) and other crypto assets by the second quarter of 2021.

The Bank of Japan has officially kicked off experiments on a proof of concept for its central bank digital currency. The first testing phase is already live and should be completed by March 2022.

As the race for the title of America’s first Bitcoin exchange-traded fund (ETF) rages on, digital assets investment giant Grayscale today revealed that launching such a product was its goal from the very start.

U.S. Dollar Tether (USDT), a stablecoin with a $43 billion market capitalization, expands its operations to the most promising platforms of Web 3.0.

Mutual fund giant Fidelity and financial services provider Square have joined forces with several other companies to create a trade group, the Crypto Council for Innovation, that will lobby for favorable cryptocurrency regulations, according to an April 6 report by the Wall Street Journal.

March 2021 – Weekly Recap 4

Weekly Recap

March 22nd, 2021 - March 28th, 2021

Welcome to our 4th weekly recap for March.

Overview 

 

Crypto News

Digital asset manager QR Capital reveals that it received the green light to launch the first-ever Latin American Bitcoin exchange-traded fund (ETF).

Blockchain industry members claim that smaller-scale startups have struggled to forge partnerships with local banks in South Korea and are therefore unable to register under regulators’ new requirements.

According to a chart from analytics company CryptoQuant, on March 23, financial institutions bought and withdrew from Coinbase a staggering amount of crypto: 14,600 BTC.

Tesla is now running bitcoin nodes and “internal and open source software” to accept bitcoin for payments according to Elon Musk, Tesla’s CEO.

Filecoin, a decentralized network allowing users to store, request, and transfer data via a verifiable marketplace, today announced integration with Chainlink, the popular decentralized oracle solution.

Indian companies have been mandated to disclose their crypto holdings in financial statements, according to new rules that are coming into force on April 1.

It has been announced that Optimism, the Ethereum Layer 2 scaling solution, will be delaying the launch of its mainnet till at least July 2021. According to the official announcement, the new launch date is not certain as it still depends on the speed of preparations and “ecosystem readiness”.

Fidelity Investments, a financial giant with over $4.9 trillion in assets under management, has filed with the United States Securities and Exchange Commission (SEC) to list a new bitcoin exchange-traded fund (ETF).

Lately, Indonesia has been following in the footsteps of its close neighbor and business partner, Singapore, in exploring the use of blockchain technology and cryptocurrencies.

 

 

March 2021 – Weekly Recap 3

Weekly Recap

March 16th, 2021 - March 23rd, 2021

Welcome to our 3rd weekly recap for March.

Overview 

 

Crypto News

South Korea’s cryptocurrency regulatory space is set to become even more tightly regulated with the incoming laws on financial reporting for crypto businesses in the country.

The Litecoin Foundation has completed the code for its MimbleWimble Extension Block (MWEB) which will enhance scaling and privacy for the cryptocurrency.

Grayscale Investments, the largest digital asset manager, launched five new digital currency trusts, the company announced Wednesday.

Visa CEO, Al Kelly revealed the company’s plans to enable the buying of bitcoin using its credit cards during his recent podcast with Fortune’s ‘Leadership Next’.

In her new report, Deutsche Bank analyst and French economist Marion Laboure writes that Bitcoin can no longer be ignored after its market cap eclipsed $1 trillion.

Cardano’s (ADA) community long-awaited announcement has arrived. Coinbase has listed ADA on its main and pro platform. Starting today users will be able to start trading the cryptocurrency in all supported regions.

Flare Networks considers integrating Cardano’s native token ADA. It has launched a poll on its official Twitter handle to find out the community’s opinion.

Ethereum devs will discuss whether to focus on going full Proof of Stake (PoS) after the fee market hard fork goes through this summer.

Crypto exchange Coinbase could be extending support for more digital assets following the addition of Cardano (ADA) on its platform.

 

 

March 2021 – Weekly Recap 2

Weekly Recap

March 9th, 2021 - March 16th, 2021

Welcome to our 2nd weekly recap for March.

Overview 

Crypto News

Last month, MoneyGram suspended trading on Ripple’s platform after the blockchain company got sued by the U.S. Securities and Exchange Commission, but both parties were anticipating to resume their collaboration given that a multi-year contract between them was still in place.

Chinese Twitter-alike social media Weibo has suspended the official accounts of Huobi, OKEx, Binance and MXC in what appears to be an effort targeted on crypto exchanges.

Claims that Oracle would announce a 72,000 Bitcoin buy-in on Wednesday were left unsubstantiated by executives as Bitcoin fell from local highs of $57,300.

In one of his recent tweets, a rigorous Bitcoin opponent, CEO of Euro Pacific Capital, Peter Schiff, wrote that Grayscale is now likely to turn into a Bitcoin seller – just as he expected.

The Commodity Futures Trading Commission (CFTC) is investigating Binance, the largest exchange by global trading volume, according to a March 12 Bloomberg report.

Ripple’s Brad Garlinghouse and Christian Larsen have asked a federal judge to block subpoenas from the SEC requesting personal financial information from eight banks.

India is expected to pass a bill that would criminalize cryptocurrencies, according to a Reuters report that cites an unnamed government official.

A tweet from Sam Trabucco from Alameda clarified that they are not affiliated with REEF as claimed.

A DNS attack can take several forms. However, the affected platforms have reported facing a DNS hijacking on the Binance Smart Chain. In this instance, their domain names have been hijacked, resulting in the internet traffic being diverted to an unknown destination.

 

 

March 2021 – Weekly Recap 1

Weekly Recap

March 1st, 2021 - March 9th, 2021

Welcome to our 1st weekly recap for January.

Overview 

Crypto News

Just days after the conclusion of its long-running feud with the Office of the Attorney General of New York, Tether says it is now a victim of an extortion attempt. According to the stablecoin issuer, the blackmailers are threatening to release documents they claim “will harm the bitcoin ecosystem” if their demand for the payment of 500 bitcoins is not met.

Crypto bank Unicas, a joint venture between Cashaa and United Multi State Credit Cooperative Society, has expanded its operations by opening another physical branch. The bank believes that the Indian government will introduce positive crypto regulation and not impose an outright ban on cryptocurrencies such as bitcoin.

Global investment bank Goldman Sachs has brought back its bitcoin trading desk and will start handling bitcoin futures next week. The firm is also reportedly exploring the potential for a bitcoin exchange-traded fund (ETF) and plans to provide a crypto custody service.

Gary Gensler, President Joe Biden’s pick to lead the U.S. Securities and Exchange Commission (SEC), has revealed his policies on bitcoin and other cryptocurrencies if confirmed as the SEC chairman. Gensler is a professor at MIT who teaches cryptocurrencies. He previously served as the chairman of the Commodity Futures Trading Commission (CFTC).

The Thai financial watchdog has reportedly retreated from its initial controversial crypto rule proposal. Citing the country’s Securities and Exchange Commission (SEC), a local media outlet stated that public criticism was significant regarding the matter.

On Friday, the incorporated and publicly listed business intelligence (BI) firm, Microstrategy announced the company has acquired an additional $10 million in bitcoin. The company’s CEO Michael Saylor revealed the latest purchase on Twitter with a link to a Form 8-K Securities and Exchange Commission (SEC) filing registered on March 5, 2021.

Tech entrepreneur and former anti-virus tycoon John McAfee has been indicted by the U.S. Department of Justice (DoJ) on money laundering and fraud charges. The United States Attorney for the Southern District of New York and the FBI unsealed the indictment charging McAfee and his associate Jimmy Watson with securities fraud.

Global investment bank Goldman Sachs is seeing huge institutional demand for bitcoin with no signs of abating. A survey of Goldman’s institutional clients shows that 61% expect to increase their cryptocurrency holdings. Meanwhile, 76% say the price of bitcoin could reach $100,000 this year.

 

February 2021 – Weekly Recap 4

Weekly Recap

February 22nd, 2021 - Feb 29th, 2021

Welcome to our 4th weekly recap for Febuary.

Overview 

Crypto News

 

Cryptocurrencies could succeed if properly studied, but bitcoin is a highly speculative and inefficient asset, said US Treasury Secretary Janet Yellen.

 

On Feb. 10, Mastercard announced that it would start supporting a select few cryptocurrencies on its payment network. According to the payments giant, the inclusion of cryptocurrencies will allow customers to “save, store and send money in new ways” while opening up new opportunities for merchants as well.

 

Global money transfer service MoneyGram says it has changed its relationship with blockchain payments firm Ripple amid the latter’s litigation with the Securities and Exchange Commission.

 

The Securities and Exchange Board of India (SEBI) has reportedly ordered stock promoters to exit all cryptocurrency holdings before raising funds.

 

After much back and forth, South Korea appears to have finally set a hard date for the dawn of cryptocurrency taxation.

 

Crypto firms Bitfinex and Tether have settled with the New York Attorney General’s (NYAG’s) office, ending a legal dispute that began in mid-2019.

 

Cryptocurrency exchange Coinbase has filed for an initial public offering with the U.S. Securities and Exchange Commission (SEC). The company has chosen the direct listing route and has applied for its shares to be listed on Nasdaq.

 

A Dubai based crypto-based investment fund, FD7 Ventures says it will offload bitcoins worth $750 million and will use the proceeds to increase positions in Cardano and Polkadot tokens. According to FD7 Ventures, this switch to the two altcoins will help the fund to better serve the interests of investors who are looking to diversify their portfolios.

 

Philippine crypto exchange Pdax recently suffered a costly technical failure – one that led to bitcoin trading at 300,000 Philippine pesos (around $6,000) – a discount of 88% to its current price.

 

February 2021 – Weekly Recap 3

Weekly Recap

February 15th, 2021 - Feb 22nd, 2021

Welcome to our 3rd weekly recap for February.

Overview 

 

Crypto News

 

Just recently, during Microstrategy’s “Bitcoin for Corporations” event, Stone Ridge Asset Management and New York Digital Investment Group (NYDIG) founder, Ross Stevens, explained that he sees a “wall of money” entering the bitcoin space. A week later after that statement, NYDIG has revealed that the company has filed for a bitcoin exchange-traded fund (ETF) and is hoping for regulatory approval.

A government-owned entity in Dubai has started accepting bitcoin, ether and tether as payment for its services, according to local media reports.

A U.S. publicly-listed Chinese sports lottery firm is extending its arms into the crypto industry by announcing another related maneuver. 500.com Ltd announced it has acquired Btc.com, the well known bitcoin mining pool.

Two bitcoin exchange-traded funds (ETFs) have been approved in Canada. Evolve Bitcoin ETF has become the second bitcoin ETF to get approval by Canada’s securities regulator. The first approved bitcoin ETF starts trading Thursday.

According to a website that tracks the price of bitcoin across the globe, the crypto asset’s selling price in Nigeria as of February 18 stood at $ 76,000. At this price, the crypto asset is selling for $20,000 more than the approximately $52,000 that most cryptocurrency exchanges are currently quoting.

The world’s largest asset manager with almost $9 trillion in assets under management, Blackrock, has started investing in bitcoin. Sharing his view on what’s driving up the price of the cryptocurrency, the firm’s chief investment officer says the technology and the regulation have evolved to where people find bitcoin should be part of their portfolios.

The North American Purpose Bitcoin ETF launch on Thursday saw massive demand, as more than $165 million in trade volume was recorded. In fact, the exchange-traded fund listed on the Toronto Stock Exchange (TSX) saw it’s first $80 million swapped during the first hour of trading sessions.

Nvidia announced that it will start limiting the efficiency of mining ethereum or any other crypto using its new range of upcoming graphics processing units (GPUs).

The rollercoaster-ride in cryptocurrency prices on Monday was accompanied by Binance’s fresh restrictions for ethereum and ERC-20 tokens.

February 2021 – Weekly Recap 2

Weekly Recap

February 8th, 2021 - Feb 15th, 2021

Welcome to our 2nd weekly recap for February.

Overview 

Crypto News

 

Uber CEO Dara Khosrowshahi has said that the company will accept bitcoin and other cryptocurrencies as a form of payment if there is a benefit and a need for it.

The oldest bank of the United States, Bank of New York Mellon (NYSE: BK), has revealed it will start financing bitcoin and other digital currencies through the rollout of a new cryptocurrency custody service.

The Ontario Securities Commission has approved a bitcoin exchange-traded fund, according to public records published Thursday.

BloombergQuint reported the news on Thursday, citing an unnamed “senior Finance Ministry official.” The ban won’t be imposed overnight, according to the official, who said the government would give a three-to-six month transition period for existing investors to liquidate their investments.

Deutsche Bank has joined the growing ranks of large financial institutions exploring cryptocurrency custody, with aspirations to offer high-touch services to hedge funds that invest in the asset class.

Apple Pay is the newest way BitPay makes living life on crypto easy. Simply open Apple Pay and scan or enter the BitPay card information to use it wherever Apply Pay is accepted.

Ukraine and the United Arab Emirates have signed memorandums and contracts worth $3 billion or more, the presidential press service said.

U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce is reportedly vocalizing the urgent need for regulatory clarity across the crypto sector.

Despite this weak price action, a massive influx of new capital may be imminent, thanks to MicroStrategy. The company announced plans to raise roughly $600 million – all of which would be used to add to their BTC reserves.