Day: February 17, 2021

JP Morgan: Bitcoin Volatility Needs to Reduce for Price to Steady Above $50k

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JP Morgan strategists opine that Bitcoin volatility needs to taper for prices to remain above $50k. In a note to investors on Feb 16, Nikolaos Panigirtzoglou and his team said BTC/USD price action is fragile with real risks of a correction at spot rates. Bitcoin Price Rises Despite Volatility Concerns At the time of writing on Feb 17, the Bitcoin price is trading above $51k, adding five percent on the last day and registering a new all-time high. From H2 2020, a month after Bitcoin halved, the digital asset’s prices…

US charges three North Korean hackers over crypto attacks and WannaCry ransomware

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On Wednesday, the U.S. Department of Justice announced charges against three North Korean operatives.  Making the announcement, Assistant Attorney General John C. Demers condemned the North Korean program, the most famous branch of which is Lazarus Group. Demers said: “North Korea’s operatives, using keyboards rather than guns, stealing digital wallets of cryptocurrency instead of sacks of cash, are the world’s leading bank robbers.” With a country largely sequestered from the international economy, North Korea’s hacking program has been a critical source of revenue. Many have linked hacking income from sources…

Ajit Tripathi: How to Bring Off-Chain Assets to DeFi

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The recent GameStop short squeeze has brought decentralized finance (DeFi) into mainstream public consciousness. Well-known crypto influencers such as Caitlin Long have espoused decentralized exchanges as an alternative to traditional clearing and settlement infrastructure. Others, including me, have suggested that decentralized credit markets can reduce systemic risk by enhancing financial market transparency.  Ajit Tripathi, a CoinDesk columnist, is the Head of Institutional Business at Aave. Previously, he served as a fintech partner at ConsenSys and was a co-founder of PwC’s U.K. Blockchain Practice. In this article we examine some of…

Blockchain Bites: Why Buy an NFT?

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Digital frictionNonfungible tokens (NFT) are having a moment. In recent weeks, notable investors Mark Cuban and Chamath Palihapitiya have signaled their growing interest in this corner of the crypto economy, adding fuel to a rally that was already red-hot.  It’s tough to measure the size of the total NFT market due to how these tokens are structured. Each NFT is a non-replicable digital asset. Because there’s only ever one NFT, each asset is essentially its own market. The total value of NFT-based crypto art is now above $100 million, according…

Ethereum’s Favorite Lossless Lottery Will Airdrop Its POOL Token Today

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The leader of lossless lotteries on Ethereum, PoolTogether, is airdropping a new token to all its users who have joined it for the ride so far: POOL. “I’m really excited about the potential for a consumer financial primitive rather than a financial financial primitive,” PoolTogether founder Leighton Cusack told CoinDesk in a phone call. “This is a much more approachable product to people and therefore I think the idea of user ownership becomes much more approachable too.” Launched in 2019, PoolTogether is a lottery where there is no risk. Users…

Goldman Sachs, JPMorgan, UBS Are Trading an ETP Tied to Polkadot’s Crypto

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Traditional finance is going further down the crypto rabbit hole than you might think. Goldman Sachs, ICAP, JPMorgan, and UBS have bought the first exchange-traded product (ETP) that offers exposure to Polkadot’s DOT cryptocurrency for clients, according to Bloomberg terminal data reviewed by CoinDesk. These banks and brokerages purchased small amounts of shares in Switzerland-based 21Shares’ ETP, the data shows. The shares debuted Feb. 4 on the SIX Swiss Exchange at a price of $22-23 and have since climbed to $30. The purchases suggest institutional investors’ appetite for crypto exposure…

MicroStrategy raising $600M…. no, $900M to buy more bitcoin

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Following a Tuesday announcement that MicroStrategy would be planning to buy $600 million in Bitcoin through a sale of convertible notes, the business intelligence firm has upped the ante by another $300 million. MicroStrategy said today it would be selling $900 million in convertible senior notes due in 2027 in a private offering to qualified institutional buyers. According to the firm’s estimates, the proceeds of the sale will be roughly $879 million. It added, however, that it could be as high as $1 billion “if the initial purchasers exercise in…

ARGO BLOCKCHAIN: My Valuation Model & 2021 Stock Price Prediction! (#ARB $ARBKF)

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▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io I told you all I’d been working on my valuation model for Argo Blockchain and here is the first look! I discuss my 2021 stock price prediction and the upside I expect this year! Subscribe for more stock market content: Join the “Multibagger Madness” and support the channel: “Free Capital” by Guy Thomas: Follow me on Instagram: Music licensed from WaveBeatsMusic. Cheers guys! ***Any comments made by Mateus and anyone acting on behalf of the “Funky Finance” brand are for general information…

Blockchain.com Raises $120 Million in a Strategic Financing Round, Firm’s Institutional Arm Swells – Finance Bitcoin News

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On Wednesday, as the leading crypto asset bitcoin has been riding above the $50k handle, the well known firm Blockchain.com announced the company has raised $120 million in a strategic financing round. Blockchain.com says the financing comes at a momentous occasion, as the firm’s wallets have seen 65 million created to-date in over 200 countries. London Firm Blockchain.com Raises $120 Million from Macro Investors Blockchain.com is a popular cryptocurrency company that has been around since 2012. On February 17, 2021, the company’s cofounder and CEO, Peter Smith, revealed Blockchain.com has…

Microsoft Not Planning to Emulate Tesla’s Bitcoin Buy

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Global tech giant Microsoft does not have immediate plans to put bitcoin on its balance sheet, according to the company’s president. Meanwhile, bitcoin continues to see an increased interest from major companies and institutions.  Microsoft not Ready to Make Bitcoin Investment  Speaking in a CNN interview on Tuesday (Feb. 16, 2021), Microsoft president Brad Smith revealed that the company was not discussing making any bitcoin investment in the near future. Smith, However, the Microsoft president did not completely dismiss the idea of investing in the biggest crypto asset by market…