Month: January 2021

US wealth manager adds 10,667 shares of GBTC as Bitcoin adoption grows

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Kingfisher Capital, a North Carolina wealth manager, has scooped up 10,667 shares of the Grayscale Bitcoin Trust, according to a recent filing with the United States Securities and Exchange Commission, or SEC.  The filing, which appeared on the SEC website on Thursday, highlights Kingfisher Capital’s growing diversification. The wealth manager has exposure to hundreds of companies and funds across various sectors, from banking to energy. Kingfisher reportedly had no exposure to Grayscale’s product as of November 2020, which means its purchase was recent, perhaps while Bitcoin (BTC) was at or…

Blockchain Platform to Set up a Tokenization Solution for Argentinean Farmers as Peso Keeps Plummeting – Blockchain Bitcoin News

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With Argentineans facing rising inflation to near 40%, solutions appear to contain the impact on national farmers. A business blockchain platform is partnering with a peer-to-peer (P2P) marketplace to launch a program to tokenize Argentina’s agriculture. More Than 40% of the World’s Soybean Oil and Soy-Meal Production Comes From Argentina According to an announcement shared with news.Bitcoin.com, Coreledger will work with Abakus to set up a “digital barter economy” in Argentina. The project consists of enabling farmers to tokenize their agricultural assets to seek a hedge against rising inflation. It…

*Coinbase, CBDC's & XRP*

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Bitcoin Fractal From Last Bull Run Warns Of Sudden Sweep of Lows

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Bitcoin is in consolidation mode after one of its largest quarterly gains on record. All signs suggest that there’s still more upside left in this bull run, but according to a fractal found during the last major market cycle, a sudden sweep of lows is possible before bulls regain control. Here’s what to expect for price action if this ultimately bullish fractal is a valid roadmap of what’s to come. Be Ready To Buy The Dip If Fractal Forming Is Accurate Bitcoin price is still trading $10,000 below its highest…

Coinbase unveils plans for direct stock listing

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Coinbase, one of the world’s largest digital currency exchanges, has been rumored for some time to be considering a direct listing. In an official blog post, the cryptocurrency exchange disclosed plans to pursue a direct listing of its Class A common stock, pursuant to a registration statement with the United States Securities and Exchange Commission. The Form S-1 registration statement will become effective after the securities regulator completes its review. The direct listing format would not offer new shares but instead sell existing shares directly to the public. Some advantages…

Blockchain tech may have arrived too soon, but now, it’s ready

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It is a useful exercise for those of us working in tech to cast our minds back to the dot-com boom and bust of the late 1990s. There is a lot that can be learned from that time. The period was crucial for the United States and the global economy and a defining moment for the tech sector. It is helpful to consider those helter-skelter days when assessing the current crypto ecosystem. Most people will rightly point to the glut of Super Bowl ads coming in at over $2 million…

DeFi in the spotlight as legacy brokerages break down

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As legacy markets roil, brokerages break down, and accusations of market manipulation fly, longtime decentralized finance (DeFi) adherents can’t help but say “I told you so” when it comes to the need for open, unstoppable, and permissionless financial architecture.  Earlier today, popular trading app Robinhood took the possibly unprecedented step of disabling the buying functionality on certain tickers following a massive wave of retail interest in heavily shorted assets. Some commentators have pointed out the irony of Robinhood — an app that in name, marketing, and conception focuses on the…

1INCH price rallies 30% as its monthly DEX volume nears $6 billion

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This week the total value locked in DeFi platforms reached a new high at $26.2 billion and this record high was achieved even as Bitcoin price appeared to be slipping into a downtrend. This asymmetrical performance from DeFi-tokens suggests the sector has staying power and the ecosystem built up around DeFi platforms is likely to have a far reaching impact that may even alter the way traditional finance operates. As DeFi protocols gain traction, decentralized exchange (DEX) aggregators have also emerged among the thriving trading and staking market. 1inch protocol…

Rob from the poor and give to the rich? Robinhood prompts furious backlash after restricting trades

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Mere hours after once popular trading app Robinhood announced it would be suspending purchases of stocks pushed by retail investors on Reddit, and the community backlash has been swift and harsh. This morning, Robinhood said it had restricted transactions for American Airlines, AMC Entertainment, Blackberry, Best Buy, Castor Maritime, Express, GameStop, Koss Corporation, Naked Brand Group, Nokia, Sundial Growers, Tootsie Roll Industries, and trivago N.V. Though the trading app claimed the action was due to “significant market volatility,” the timing is suspicious given many of the stocks in question were…