Day: December 30, 2021

Binance to finalize acquisition of Swipe, paving for CEO exit

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Binance, the world’s largest cryptocurrency exchange, announced Thursday that it will acquire the remaining outstanding shares of Swipe, a prominent crypto Visa card provider. Users of Binance will be able to spend their coins at over 70 million locations worldwide as a result of the acquisition. On July 6, 2020, Binance initially announced the purchase of a majority stake in Swipe, stating that the new collaboration would help to further advance cryptocurrency adoption by bridging fiat and digital assets. Binance’s acquisition of Swipe will allow it to compete with other…

Mexico Plans to Issue a CBDC by 2024, Government Confirms

On Dec. 2, Banxico’s Governor, Victoria Rodriguez Ceja, said that the monetary authority was analyzing the launch of a CBDC. “Authorities at the international level, given the interest that these virtual assets and their evolutions have awakened, have recognized the need and the potential to extend the functionalities of legal tender through the potential implementation of digital currencies issued by the Central Bank,” she said, according to a report by Independent en Español. Source

MicroStrategy purchases 1,914 Bitcoin, now holds almost $6B in crypto

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Business intelligence firm MicroStrategy has added $94 million worth of Bitcoin (BTC) to its holdings after purchasing the crypto asset at an average price of $49,229. According to a Thursday filing with the U.S. Securities and Exchange Commission, MicroStrategy purchased 1,914 BTC between Dec. 9 and Dec. 29 for $94.2 million, making its total holdings 124,391 BTC. With the recent buy, the company’s holdings are valued at roughly $5.9 billion, representing more than $2.1 billion in gains. MicroStrategy has purchased an additional 1,914 bitcoins for ~$94.2 million in cash at an average…

Umee Buckles Down for Mainnet With $32M Token Sale on CoinList

Umee raised $32 million from community members who piled into the chain-hopping network’s UMEE token ahead of mainnet launch, slated for mid-February 2022. Umee set a CoinList record with 922,000 wallet registrations, though only 64,000 ultimately bought, CoinList Head of Sales Mike Zajko told CoinDesk. The flexible decentralized finance (DeFi) base layer, which plays nice with protocols built for Ethereum as well as its native Cosmos, closed the CoinList sellout earlier this month, CEO Brent Xu told CoinDesk. Xu, a former bond trader who went full crypto in 2016, said…

Tom Shaughnessy on the Big Metaverse Bet

This episode is sponsored by NYDIG. Download this episode On this episode of “The Breakdown’s” “End of Year Extravaganza,” NLW is joined by Tom Shaughnessy. Tom is a co-founder at Delphi Digital, where he invests in early-stage innovation in the crypto space. Find our guest on Twitter: @Shaughnessy119 See also: Bitcoin Edges Higher; Voyager Digital’s 2022 Markets Outlook “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Adam B. Levine is…

Bitcoin gains after $46K drop as ‘bottoming out’ continues into 2022

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Bitcoin (BTC) recovered from fresh lows on Dec. 30 as markets remained undecided on their end-of-year trajectory. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView $46,000 may not mark floor Data from Cointelegraph Markets Pro and TradingView showed BTC/USD bouncing to $47,731 on Bitstamp, reversing almost all of the previous day’s losses. Prior to the Wall St. open, the pair was still above the $47,000 mark, as traders nonetheless warned that choppy BTC price action was not yet over. “Pretty boring markets lately. Just a process of bottoming out for Bitcoin,”…

Close to $50 Million in Bitcoin From 2011 Moved for the First Time in 10.5 Years – News Bitcoin News

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On December 29, two addresses from 2011 containing 500 bitcoin each transferred 1,000 coins for the first time in 10.5 years. Furthermore, another wallet from 2011 woke up on Wednesday, moving 40 bitcoin for the first time in over a decade. 1,040 Bitcoin from 2011 Move for the First Time in 10.5 Years On Wednesday, an address created on July 10, 2011, at 11:22 p.m. (UTC) with 500 bitcoin (BTC) transferred the BTC for the first time in 10.5 years. Another wallet, created on the same day in 2011, dispersed…

Genesis issues $6M NFT-backed loan to Meta4 Capital

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Genesis Global Capital has completed one of its first purely NFT-backed loans for $6 million to Meta4 Capital, a Miami-based Web3 focused investment management firm. This loan is notable not just for its amount but for solely using nonfungible tokens (NFTs) as collateral instead of including broader liquid collateral. Meta4 operates as an NFT VC backed by Andreessen Horowitz, specializing in acquiring presumed rare and historically significant NFTs. The proceeds of Genesis’ loan were used to finalize Meta4’s purchase of three NFTs part of Sotheby’s Metaverse “Natively Digital” October NFT…

One Big Regulatory Question Holds Advisors Back From Crypto

“Many or most crypto assets have significant regulatory risk, particularly as it relates to being securities under U.S. law, but we think these problems are now solved for bitcoin,” said Andy Edstrom, the head of institutional investment at Swan Bitcoin. “We don’t think this question has been answered for most other digital assets, and they potentially pose problems for intermediaries like financial advisors.” Source