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Bitcoins and Pieces: T.G.I.F. Edition

Investments News

  • Huobi Technology Holdings Ltd.’s exclusive property Auxilliary to Huobi Asset Management has initiated four crypto-linked funds, including those that will virtually track Bitcoin (BTC) and ethereum (ETH) prices, as well as a multi-strategy virtual asset fund, stated the press release. Through Bloomberg, the company has just ensured USD 50 million in responsibilities across the four funds, and it’s targeting USD 100 million in entire capital before the end of September. The offerings also comprise a dynamic fund investing in a hamper of virtual assets and a private equity fund committed to investing in the crypto mining industry.
  • Morgan Stanley’s recent bitcoin (BTC)-only private funds increased USD 29.4 million coming from 322 clients in its first 14 days, while the typical investment was around USD 91,000. Coindesk stated, referring to regulatory records. In just 14 days, Morgan Stanley’s FS/NYDIG fund become one of the most prevalent private BTC media, whipping out far-older sector offerings from Pantera Capital and Galaxy Digital by trading count, they appended.
  • American investment corporation Tiger Global Management funded USD 25 million in crypto exchange CoinSwitch Kuber, making its plunder into the fast-growing digital currency market in India, Bloomberg announced. The Series B round values the Bangalore-based trading exchange at more than USD 500 million. The platform will utilize the funds to extend, hire skilled staff, and increase understanding of cryptocurrencies with the local retail stockholders. CoinSwitch Kuber has over 4.5 million users in India and targets 10 million clients before 2021 ends.
  • NYDIG, a resource of technology and investment solutions for Bitcoin, announced it had obtained Arctos Capital, a commercial financial lender that offers funding resources to BTC holders, investors, and mining enterprises. Arctos will grow as part of NYDIG’s Market Solutions business. The company offers BTC spot and derivatives markets, data-driven implementation strategies, and tailor-made financing solutions as well.

Altcoins News

  • Rebasing crypto protocol Ampleforth (AMPL) is starting a governance token that all past and present users of its AMPL token can claim. Any ewallet that ever connected with AMPL, at present 75,743 of them, will be qualified to assume its portion of the new FORTH tokens through the following year. Utilizing the Forth token, holders will be able to vote on changes to the protocol.

Mining News

  • The annual prices of crypto mining equipment have increased by 150% in Russia, reported Checkindex, using mass data from online banks in its computation. The report’s analysts stated that demand began to spike in spring last year since sales increased. 74% growth has been noticed in video card sales and a 67% rise in motherboard sales in the past 12 months—all at a time when the requirement for mining hardware has been soaring. Local miners are reportedly resorting to buying in bulk from manufacturers. Some electronics retailers claim they are out of stock, with no idea when store owners will replenish their warehouses.

Exchanges News

  • Deutsche Boerse said that Coinbase shares (COIN) could keep it’s momentum to run on its trading system Xetra and Frankfurt stock exchange following the crypto exchange provided missing data, Reuters stated. From last night, Deutsche Boerse said it would de-list COIN by the end of Friday’s trading session.
  • The UK Financial Conduct Authority (FCA) examines considering Binance has observed with securities regulations over initiating of investing in stock tokens, the Financial Times announced. Binance informed the outlet that the stock tokens are a regulated Munich-based investment group CM-Equity product is flexible with the EU’s Mifid II markets policies and German watchdog BaFin’s banking laws.
  • Coinbase will commit 10% of its assets to financing crypto moonshots set up by its personnel. Coined ‘Project 10 Percent’, this new internal program is designed to manage their disruptive innovation bets, said the statement.
  • The largest South Korean crypto exchanges appear to be having their most profitable year ever, stated Maeil Shinmun, which deliberated, using CoinMarketCap trading archives for the past 24 hours as its gauge, that Upbit is probably making a daily commission in the region of USD 8.6m, with competitor Bithumb doing nearly USD 10m. The media outlet points out that this all foreshadows the destiny of the exchange titans. The journal noted that for Bithumb, last year’s net income was up 873.5% on the previous financial year. Upbit operator Dunamu saw growth in net profits of 308% over the same duration.
  • BISONBoerse Stuttgart Group’s crypto app, has overwhelmed the trading volume of EUR 2bn (USD 2.41bn) since the beginning of 2021, stated the report. In the same timeframe, the figure of active clients has increased by 83% to approximately 400,000. On numerous days in January, BISON set new highs for trading volumes surpassing EUR 70 million (USD 84.4 million).

Adoption News

  • Two influential self-sufficient hotels in Seville are to begin accepting crypto payments through Diario de Sevilla. Hotel Bécquer, a 134-room, built in the earlier grand residence of the Marquises of Las Torres, and the 4-star Hotel Kivir – in Seville’s historical Old Town – have stated that they will take reservations from guests wishing to pay in the form of crypto after working together with the rapidly-growing, Valencia-based crypto pay and exchange platform Criptan.
  • NatWest will decline to serve business clients who accept payment in cryptocurrencies such as bitcoin, which the UK lender has considered as “high risk,” according to The Guardian. Head of its risk committee and NatWest board member, Morten Friis, a, stated the bank was taking a “cautious approach” to crypto and closely monitored any alteration in tone from the UK regulator.
  • Central hardware wallet manufacturer Ledger announced a partnership with Boson Protocol, an eCommerce ecosystem using non-fungible tokens (NFTs) encrypted with game theory to secure its store of digital assets brought up during its private and public investment checks.

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