Day: June 3, 2021

Miami mayor bought Bitcoin after Congress passed $1.9T stimulus bill

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Francis Suarez, the crypto-friendly mayor of the city of Miami, may have further cemented his status as a cryptocurrency proponent. Appearing on the CNBC Squawk Box program, Suarez revealed that he owns both Bitcoin (BTC) and Ether (ETH). “I own #bitcoin and I own #ethereum,” says @FrancisSuarez. “I haven’t bought the dip yet but I’m planning to. I’ve just been too busy.” pic.twitter.com/xdKpghIRR5 — Squawk Box (@SquawkCNBC) June 3, 2021 According to Suarez, he bought BTC and ETH immediately after the United States Senate passed the $1.9-trillion stimulus bill for…

Mike Novogratz-backed firm announces $100M crypto investment fund

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Cryptology Asset Group, a Malta-based investment outfit co-founded by serial entrepreneurs Mike Novogratz and Christian Angermayer, is set to offer support for crypto VC firms. In a release issued on Thursday, the European holding company announced plans to float a $100-million investment into first-time crypto funds. As part of the announcement, the investment outfit revealed that it will adopt an entrepreneurial approach in building its crypto fund portfolio with a focus on emerging managers and GP seeding. Cryptology already has a significant footprint in the crypto and blockchain space with…

Crypto Briefing’s CB10 Index Rebalances After May Crash

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Key Takeaways The June rebalancing of Crypto Briefing’s CB10 was performed at 10:00 AM EST on Jun. 1. Cardano, Dogecoin and Ethereum were the top performers of the index last month. Polygon’s MATIC replaced Solana with a 0.99% allocation. Share this article Crypto Briefing’s CB10 index of the top ten cryptocurrencies weighted by market capitalization yielded a negative return of 27.6% in May.  CB10 May Performance  Crypto Briefing’s CB10 index steered through the turbulent May period with higher gains than Bitcoin. While Bitcoin registered a monthly loss of 35.5%, CB10…

NFT sales down 90% since market peak

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The nonfungible token wing of the crypto space has declined even more rapidly than the broader market in the past month or so after sales of NFTs sank 90% since they peaked in early May. Data provided by Protos paints a picture of an NFT market in the midst of implosion as sales across all categories continue to decline rapidly. After $102 million worth of NFTs were sold in a single day on May 3, just $19 million worth were sold in the past week. Over $170 million worth of NFTs…

Why is Wall Street becoming less interested in Grayscale’s Bitcoin Trust?

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There is a reason why Grayscale Bitcoin Trust (GBTC) emerged as a benchmark to measure institutional interest in Bitcoin (BTC). Grayscale no longer the only option for investors The digital currency investment product was among the only ones that offered hedge funds, endowments, pension funds, and family offices a way to gain exposure to Bitcoin without needing them to own the digital asset themselves. Therefore, a rising capital inflow into GBTC — such as the one reported last year, wherein Wall Street investors deposited about $18.2 billion in the fund…

Russian central bank policies stop Tinkoff from offering crypto trading, CEO says

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Tinkoff, a major private bank in Russia, is struggling to offer cryptocurrency trading to its clients due to the central bank’s tough stance on digital assets. Tinkoff CEO Oliver Hughes said that the digital bank is willing to offer crypto trading services but is restrained by the Bank of Russia’s policies, CNBC reports. The executive announced the news at the Saint Petersburg International Economic Forum on Thursday, stating: “There’s no mechanism for us to offer that product to them in Russia at the moment because the central bank has got…

U.K. Extends Registration Deadline for Crypto Companies

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Key Takeaways The UK’s financial regulator has extended the registration deadline for crypto businesses. The registration period now ends on Mar. 31, 2022. The FCA had ordered crypto businesses operating in the U.K. to register before Jan. 10, 2021. Only five business have passed the FCA’s registration process so far. Share this article The U.K.’s financial regulatory body has extended the temporary registration period for crypto businesses to Mar. 31, 2022. According to the FCA, the guidelines have made it difficult to approve many companies.  More Delays From FCA  The…

Russian Bitcoin critic says he would have bought BTC for 100 rubles

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Anatoly Aksakov, a member of the Russia’s State Duma and a key spokesman for the country’s cryptocurrency legislation process, claimed that he has never owned any Bitcoin (BTC). Aksakov said that he doesn’t hold any Bitcoin and likely won’t, as the government has prohibited officials from purchasing crypto, local news agency TASS reports Thursday. The official went on to say that he was willing to buy some Bitcoin as an investment before the ban came into force last year. However, he thought that the price was too high at the…

Crypto Venture Firm Sanctor Capital Announces Launch

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Key Takeaways Sanctor Capital, an investment management firm focused on the crypto space, has launched. The fund will provide capital and mentoring to crypto entrepreneurs. Sanctor Capital’s partners include Crypto Briefing’s founder and early team members. Share this article The team behind Sanctor Capital hopes to empower the next generation of crypto builders.  Sanctor Capital Details Mission  The blockchain and cryptocurrency industry is getting a new investment management firm.  Sanctor Capital launched this week, detailing its plans to become “a sanctuary for the crypto founder.” In a Tuesday blog post,…

Bitcoin nears $40K amid warning BTC price will correct before bull market resumes

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BItcoin (BTC) edged closer to $40,000 on June 3 as bulls gathered increasing signals that the bottom is in. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC/USD to $36,000 next? Data from Cointelegraph Markets Pro and TradingView showed BTC/USD retaining levels it reclaimed a day before, including the critical $37,500. Now, eyes were on the coming days for confirmation of a breakout or rejection — volatility was already forecast to enter by the weekend. For popular trader Crypto Ed, the market might need another bearish test in the short term…