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“# Korea’s Shinhan Bank makes strategic investment in crypto custody consortium ” Shinhan Bank, the oldest banking institution in South Korea, continues its efforts to introduce digital asset custody services with a new investment. According to a Jan. 7 report by news agency Yonhap, Shinhan Bank has invested in Korea Digital Asset Trust, or KDAC,…
“# Bitcoin whales are profiting as ‘weak hands’ sell BTC throughout $40K bull run ” Bitcoin (BTC) is changing hands fast after its drop to $32,000 and only millionaires are winning, data shows. Statistics governing wallet balances from Glassnode on Jan. 11 reveal that the main investors “buying the dip” are those with a balance…
“# FCA warns of crypto investment risks as Bitcoin dives below $33K ” The United Kingdom’s financial regulator, the Financial Conduct Authority, has posted a warning about cryptocurrency investment amid a major crash on crypto markets. In a Jan. 11 statement, the FCA said that crypto investment and lending are associated with a high level…
“# Morgan Stanley now holds 10% stake in Michael Saylor’s MicroStrategy ” Per a filing with the Securities and Exchange Commission released on Jan. 8, investment bank Morgan Stanley had acquired 792,627 shares in business intelligence firm MicroStrategy. The investment represents a 10.9% stake in a firm that has made massive investments in Bitcoin over the…
“# Got coronavirus stimulus? Buying Bitcoin has already offered 12% returns ” Americans who received their second coronavirus stimulus checks on Dec. 29 have already gained 12% — if they invested it in Bitcoin (BTC). As the United States government rolls out another round of “free” money to eligible residents, attention is fixed on how…
“# The institutional herd is here: Bitcoin volume on CME, LMAX hits new records ” The daily volume of the CME Bitcoin (BTC) futures market and LMAX achieved a new all-time high on Jan. 4. The data show that the institutional demand for BTC is rapidly surging as major public funds continue to accumulate. Institutional…
“# Andreessen Horowitz joins push against FinCEN’s 11th-hour crypto rules ” Major venture capital firm Andreessen Horowitz, also known as a16z, is the latest crypto-related form to oppose a recently proposed regulation in the United States. According to a blog post by a16z general partner Kathryn Haun, the Financial Crimes Enforcement Network has issued “a…
“# Russia’s Central Bank tries to stem the tide of rubles leaving bank accounts ” Beginning investors in Russia will soon find themselves with fewer options to beat plummeting interest rates offered at Russian savings accounts. In addition to the investors themselves, the big losers are likely to be trading apps like Robinhood, which aim…
“# Bitwise AUM surpasses $500 million as institutions flock to crypto ” Leading crypto fund manager Bitwise Asset Management reached a major milestone in the fourth quarter of 2020 as inflows into its products surged to new record highs, underscoring heightened institutional demand for digital assets. The firm’s assets under management, or AUM, surpassed $500…
“# Faulty data? Grayscale didn’t liquidate massive amounts of XRP and XLM ” Bybt data apparently showing a massive liquidation of XRP and Stellar Lumen (XLM) by Grayscale Investments earlier this week is inaccurate, according to the investment company. On Wednesday, a public Bybt data set suggested that Grayscale Investments reduced its exposure to XRP by…