Billionaire entrepreneur, venture capitalist, and PayPal co-founder Peter Thiel said he should have bought more Bitcoin. During an interview hosted by the Lincoln Network in Miami on Wednesday, he spoke about cryptocurrencies, central banks, and Artificial Intelligence. Miami has become a hotspot for crypto investors. Several crypto startups recently announced new offices in the city. The PayPal co-founder’s venture capital firm, Founders Fund, was also an early promoter of Miami as a new tech hub. Peter Thiel Praises Crypto During the Miami event, Thiel praised cryptocurrencies and admitted that he may have underinvested…
Day: October 21, 2021
Ethereum Jumps 21% Higher This Week, Second Largest Crypto Market Nears All-Time High – Markets and Prices Bitcoin News
After bitcoin reached its all-time high (ATH) on Wednesday, the second-largest crypto asset in terms of market capitalization, ethereum, is nearing its own ATH. The last time the crypto asset hit an ATH was five months ago on May 12. Ethereum Climbs 46% in 30 Days, Commands Half Trillion Market Cap The digital currency ethereum (ETH) came awfully close to surpassing its all-time high this week, reaching $4,379 per unit on the exchange Deribit. That’s only 0.1141% away from the ATH ethereum tapped five months ago ($4,384) on May 12,…
Bitcoin price flash crashes by 87% to $8K on Binance.US
Bitcoin (BTC) crashed to just $8,100 on Oct. 21 — but only if you were trading on Binance’s dedicated United States exchange, Binance.US. On Oct. 21, Binance.US suddenly printed a one-minute candle that took BTC/USD from $65,815 to $8,200 — a drop of 87%. “Shouldn’t be happening” In what traders call a “scam wick,” the one-minute BTC/USD differed dramatically from other major exchanges, which logged a one-minute candle with a floor of around $64,200. The phenomenon has occurred more frequently in recent days, with Bitstamp also seeing freak order-book events.…
Andreessen Horowitz Invests in New Meta4 NFT Fund
“NFTs are the driving force behind a new generation of internet products and services that are sharing value directly between the millions of developers, artists, collectors, and even gamers that participate – rather than platforms that simply act as a middleman,” said Arianna Simpson, general partner, A16z Crypto, in a press release. “The Meta4 Capital team has a unique, proven pulse on the NFT market and across the web3 spectrum, and we’re thrilled to partner with them on this new fund.” Source
Crypto Market Cap Surges to New Record $2.7 Trillion
The total crypto market capitalization is now roughly double that of silver’s $1.4 trillion, according to the website companiesmarketcap.com, and has climbed as a percentage of gold’s $11.3 trillion. The crypto market cap also exceeds the valuation of the shares of Apple, the world’s largest publicly traded company, at $2.5 trillion. Source
Swedish Financial Watchdog Investigating Two Local Crypto Exchanges
Sweden’s Financial Supervisory Authority (FI) is investigating two local crypto firms, Safello and Goobit, according to an announcement on its official website. FI said on Thursday it wants to know how local crypto firms are complying with the European nation’s anti-money laundering (AML) rules. To that end, FI has picked what it calls two “market-leading” companies that have a combined market capitalization of over 570 million Swedish krona ($67 million). According to the announcement, crypto firms act as a bridge between traditional finance and the digital asset sector, which has…
Iota launches beta smart contracts to foster interoperability
The Iota Foundation has announced the release of its beta version smart contract functionality, with the objective to solve market challenges of scalability limitations and high transaction fees, as well as reportedly debuting components not witnessed thus far in the space. Iota’s nonprofit foundation is focused on open-source research and development initiatives to drive adoption in the distributed ledger technology space, alongside its native platform, the Tangle. The smart contract service will foster interoperability and standardization through the integration of Ethereum Virtual Machine; multi-capacity for developers to write program languages…
‘Bridge Szn’ Continues With $2M Raise for Stablecoin Connector Symbiosis
With the future of decentralized finance (DeFi) increasingly appearing to be multi-chain, the need to shuttle assets between blockchain networks has never been higher. The bridge market, however, is largely dominated by centralized solutions or a handful of decentralized incumbents – a state of affairs one startup is looking to disrupt. Symbiosis Finance, a stablecoin-based cross-chain bridge, announced the close of its $2 million funding round on Thursday. Blockchain.com Ventures led the round with participation from Wave Financial, BTC Inc, KuCoin Labs, Injective Labs, DAO Maker, Primitive Ventures, Kairon Labs,…
FTX crypto exchange raises $420M from 69 investors
FTX, one of the largest cryptocurrency exchanges in the world, has raised $420 million in fresh funding, bringing its total valuation to $25 billion. The firm officially announced Thursday that FTX’s operator, FTX Trading, has completed a new Series B-1 fundraise involving 69 investors, including Ontario Teachers’ Pension Plan Board and Singapore’s state investment firm Temasek. Other investors included major venture capital firms such as Sequoia Capital, Tiger Global, Sea Capital, Ribbit Capital, Lightspeed Venture Partners, and funds and accounts managed by BlackRock. According to FTX head of product Ramnik Arora,…
How Does Crypto Fit Into a Passive Investment Strategy?
The built-in scarcity of bitcoin in particular – along with its verifiability, portability, and durability – makes it one of the most historically deflationary types of currencies we’ve seen, argued Rochard. Unlike putting cash into a typical savings account, or even a high-yield account that earns clients 1% to 2%, storing cash as crypto is arguably easier and more potentially lucrative. Source