Day: December 11, 2023

Google policy update greenlights ads for U.S. crypto trusts

Google has updated its advertising policy regarding cryptocurrencies and related products. According to the company statement, as of Jan. 29, 2024, Google will allow advertising of digital asset-related investment products, including exchange-traded funds (ETFs). “In January 2024, Google will update the Cryptocurrencies and related products policy to clarify the scope and requirements for the advertisement of Cryptocurrency Coin Trusts.” Google update In September, Google also allowed advertising for blockchain-based games using non-fungible tokens (NFTs). The company classified as permitted games that allow players to purchase in-game items, particularly virtual clothing for characters…

Fed Decision and Inflation Report to Trigger Market Volatility

This week, the decision from the Fed regarding interest rates and inflation statements for November will be released. These are both expected to trigger market volatility. As the year wraps up, Bloomberg is predicting that several key events this week will lead to increased stock market volatility. The first of these is the decision by the Fed on interest rates. Ever since the record increases in interest rates back in March 2022, market watchers have been even more on edge regarding announcements from the Fed. How These Events Move the…

French startup Mistral AI closes $415M funding round

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French artificial intelligence (AI) startup Mistral AI has announced it raised €385 million ($415 million) in its latest funding round to develop its technology and open-source software. Andreessen Horowitz and the company’s initial backers, Lightspeed Ventures, led the round, which closed on Dec. 11. This follows a previous funding round in June where Mistral raised $113 million in seed funding. The company is currently valued at around $2 billion. Mistral AI focuses on open-source technology for generative AI tools, chatbot development and customizable features. It aims to make its products available…

Treasury Yields Inch Higher Ahead of Fed Meeting, Bitcoin Price at $42K

Traders are on edge, eagerly watching the Federal Reserve meeting for clues about prospective interest rate changes. Amid eventful financial dynamics, US Treasury yields edged higher earlier today, while the crypto market, specifically Bitcoin (BTC), is experiencing a downturn with the coin’s price plummeting to $42,000. The simultaneous rise in Treasury yields and the drop in Bitcoin’s price prompts discussions about the relationship between traditional and crypto markets. Historically, these markets have exhibited a degree of inverse correlation, with investors often moving funds between traditional safe-haven assets and riskier, more…

British Payment Firm SumUp Secures $307M in Funding Round for Global Expansion

Currently valued at $8.6 billion after its £590 million ($624 million) investment round last year, SumUp stands strong in private markets with no immediate plans for an initial public offering. London-based financial services company SumUp has secured £285 million worth approximately $307 million in its latest funding round to expand its business offerings to other parts of the world outside the United Kingdom. The company has already established its presence in other financial markets outside Europe, including the United States and Australia. Global Expansion Plans According to an official announcement…

Britain’s M&G Invests $20M in Crypto Derivatives Platform GFO-X

By providing $20 million, M&G is helping GFO-X create a properly regulated environment for safe access to crypto derivatives trading. Global Futures and Options (GFO-X), a crypto derivatives trading platform based in the UK, has announced it received a $20 million investment from the asset management arm of pensions provider M&G Plc. According to GFO-X, the investment was part of a $30 million series B funding round for the company. This confirms that M&G is the lead in the funding round. The funds will help GFO-X with its launch as…

Coinbase and Conio Partner to Bring Digital Assets to Italian Banks

The partnership between Coinbase and Conio is indicative of a larger trend in Europe that sees traditional banks and other financial institutions accepting cryptocurrencies more and more. The well-known US cryptocurrency exchange Coinbase and Conio, an Italian cryptocurrency wallet provider partly owned by two large Italian companies, have formed a new alliance. This partnership aims to make a variety of digital assets more easily accessible to banks and other financial institutions across Italy. Conio will make use of Coinbase Prime to provide institutional-grade liquidity support for crypto-friendly banks looking to…

Is the Bitcoin price dip toward $40K a bear trap?

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Bitcoin (BTC) price finally witnessed a significant 7% pullback on Dec. 11 as multiple indicators flashed sell signals and traders booked profits. Bitcoin’s ability to hold above $42,000 will determine whether this crash is a buy-the-dip opportunity or a general market reversal.  Short-term volatility or big trend reversal? The sharp BTC price drop observed on the daily chart corresponds with a sudden 6.5% drawdown and over $300 million long liquidations across the cryptocurrency market. BTC/USD 4-hr candle chart. Source: Bitstamp Zooming to the longer 1-day candle timeframe, however, this movement appears…

MetaMask Enters Multiple Partnerships to Expand Its Global Reach

MetaMask has collaborated with some local payment providers spread across Africa, Asia, and South America. In line with its ambitions to establish its presence around the world, crypto wallet  MetaMask has announced a series of new partnerships. The announcement hints at a focus on emerging markets as MetaMask joins hands with local payment providers spread across Africa, Asia, and South America. According to the firm, it has struck a strategic partnership with six different countries including Egypt, Thailand, Indonesia, Vietnam, Philippines, and Chile. MetaMask also issued a breakdown of what…

Avalanche Rules Top 10 List With 61% Weekly Gain

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Among the top 10 cryptocurrencies this week, Avalanche (AVAX) is in the lead after rising by more than 60% in the last seven days. Its price has risen to $36, placing it in the top 10 digital assets in terms of market capitalization. AVAX prices have been trending higher, which has helped many holders realize gains. The general attitude has not changed notwithstanding this rise in the proportion of holders in profit. More than half of Avalanche holders kept their assets at a profit, according to recent data from IntoTheBlock.…