Day: December 9, 2020

Bitcoin (BTC) Price Lost More Than $1000 in 24 Hours

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With Bitcoin current pullback, experienced traders are said to be taking advantage and accumulating in accordance with the price movements. After Bitcoin rallied to trade around its all-time high in the past few weeks, its market price has shed more than $1000 in 24 hours to trade around $17,872.50 according to the data provided by CoinGecko. As a result, the asset is down approximately 10% from its all-time high. However, Bitcoin (BTC) price is up approximately 15.4% in the past 30 days and over 138% in the past one year.…

Standard Chartered to launch institutional-grade crypto custody in 2021

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Standard Chartered, one of the biggest banks in the United Kingdom, has officially announced plans to provide institutional custody for major cryptocurrencies like Bitcoin (BTC). According to a Dec. 9 announcement, Standard Chartered’s innovation arm SC Ventures has partnered with United States-based investment management firm Northern Trust to launch cryptocurrency custodian for institutional investors. Called “Zodia,” Standard Chartered’s crypto custody platform is subject to registration with the U.K. Financial Conduct Authority, and is expected to begin operations in London in 2021. The platform is now in the process of registering…

America’s Top Cybersecurity Firm FireEye Hacked, FEYE Stock Tanks 8%

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This has been one of the major breaches of cybersecurity where the hackers tried to access the secret data of the US government. The FBI and other intelligence agencies have started an investigation into this matter and will submit a detailed report in the coming days. On Tuesday, December 8, America’s top cybersecurity firm FireEye Inc (NASDAQ: FEYE) reported that it has been hacked. The company also reported that the cyberattack was possibly a state-sponsored act. Over the last many years, FireEye has been working with the US federal agencies,…

ICO launches tool to help police forces using data analytics

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The Information Commissioner’s Office (ICO) is urging police forces to build in data protection from the start when considering data analytics projects. A toolkit designed to help the law enforcement sector comply with data protection law when using data analytics has been created by the ICO and is launched today. The toolkit comes after the ICO undertook a project as part of its AI priority work to explore the use of data analytics in the law enforcement sector in order to develop an understanding of current activity. Anthony Luhman, ICO…

MicroStrategy Down 14%, Citigroup Analyst Downgrades MSTR Stock from Neutral to Sell

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The downgrade of the MicroStrategy stock from Neutral to Sell has its toll on investor’s sentiment and it is reflected in the current MSTR stock price. Citigroup Inc (NYSE: C) appears not to be so intrigued by the bullish run of MicroStrategy Incorporated (NASDAQ: MSTR), an American Business Intelligence, mobile software, and cloud services firm focused on Bitcoin (BTC) investments. As reported by Cointelegraph, Citigroup analyst Tyler Radke downgraded MSTR stock from neutral to sell despite the company’s latest moves to shore up its Bitcoin reserves. Radke backed his new…

Tesla Plans to Raise $5B via Stock Offering as TSLA Shares Jump to $650

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Tesla is all set to raise $5 billion by the fresh stock offering as it plans new gigafactories and production expansion in the next two years. The fundraise plan comes at a time when the TSLA has skyrocketed nearly 700% so far in 2020. As Tesla Inc (NASDAQ: TSLA) stock continues its rally, the electric carmaker and the world’s largest automobile company Tesla is planning to raise a whopping $5 billion through a common stock offering. This will be the third time that Tesla is raising money from the market…

Mike Novogratz Declares 50% Net Worth in Crypto

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Mike Novogratz believes that the world would transform from the era of bank accounts to crypto wallets. With the increasing use of digital assets, financial institutions would be forced to integrate cryptocurrencies. The founder and CEO of Galaxy Digital Mike Novogratz has revealed that 50% of his net worth is in cryptocurrency. The CEO further encouraged investors to invest up to 5% of their portfolio into Bitcoin.  Novogratz revealed his crypto investment while speaking in an interview with CNN’s Julia Chatterley on the 8th of December.  Mike Novogratz and His Net Worth…

Bitcoin Got a Lion Share from Last Week’s $429 Million Institutional Investment

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Institutions channeled $429 million into cryptocurrency funds and products in the first week of December according to a CoinShares analysis that was reported by Reuters on Dec 7. 5.8X Expansion on Total Asset under Management The result saw their total asset under management rose to $15 billion, a 5.8X expansion from the end of 2019.  Out of the $429 million, over $336 million were funneled to Grayscale Investment products.  From this $334.7 million were invested in Bitcoin products and Bitcoin-focused funds. Founded in 2013, Grayscale is one of the largest crypto fund managers…

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