Day: June 6, 2024

Over 30% of family offices in US ‘actively investing’ in crypto, BNY Mellon study finds

Around 55% of American family offices plan to increase their cryptocurrency investments or have had limited exposure to crypto, according to a BNY Mellon study. More than 30% of family offices in the U.S. are actively investing in crypto and even may increase their holdings, a recent report by BNY Mellon reveals, highlighting growing interest in digital assets among wealthy families. The report comes as the U.S. Securities and Exchange Commission (SEC) approved the first spot Bitcoin exchange-traded funds (ETFs) earlier in January, integrating crypto into the mainstream investing environment.…

SEC Chair Warns Crypto Exchanges: Actions Speak Louder than Disclosures

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US Securities and Exchange Commission (SEC) Chairman Gary Gensler delivered a cautionary message to cryptocurrency exchanges, underscoring that merely providing disclosures to investors does not immunize them from regulatory scrutiny. Crypto Disclosure Gaps and Regulatory Concerns Speaking in an interview with CNBC yesterday (Wednesday), Gensler stressed the inadequacy of disclosures alone, especially if crypto exchanges are involved in activities like market manipulation or dissemination of misleading information affecting investment decisions. He highlighted the prevalent absence of disclosures from numerous crypto firms, operating in a manner that would not meet the…

Crypto Remains Sidelined as EU Election Kicks Off

The election for new members of the European Parliament starts June 6, with results expected on June 9. The more than 700 MEPs shape and decide on new laws, and will be voted in as the EU’s landmark Markets in Crypto Assets legislation starts coming into effect. Source

Is Bitcoin Manipulated? Experts Explain ‘Small’ ETF Inflow Impact

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The US spot Bitcoin Exchange-Traded Funds (ETFs) have been witnessing a historic run of inflows, marking 17 consecutive days of net additions. On a particularly notable Tuesday, these ETFs observed inflows totaling a staggering $886.6 million, ranking it as the second-highest single-day influx since their introduction. This was followed by another significant day of inflows yesterday, amounting to $488.1 million, with notable contributions from major financial players like Fidelity ($220.6 million), Blackrock ($155.1 million), and Ark ($71.4 million). Despite these hefty capital injections, the price of Bitcoin has demonstrated a…

Bitcoin miner Riot Platforms acquires 12% stake in Bitfarms

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Colorado-headquartered crypto mining company Riot Platforms has acquired ownership of a 12% stake in rival Bitfarms despite shorting pressure from Kerrisdale Capital. Bitcoin mining company Riot Platforms said in a press release on Jun. 5 it acquired 1,460,278 common shares of Bitfarms, becoming the beneficial owner of approximately 12%. The company said the latest purchase, at $2.45 per share, cost Riot over $3.5 million in total. Following the acquisition, Riot stated its intention to call a special meeting of Bitfarms’ shareholders. At this meeting, Riot plans to nominate “several well-qualified…

Cardano Foundation Forges Government Partnership in Argentina to Boost Blockchain Adoption

The Cardano Foundation has announced an interesting new public partnership in Argentina. The collaboration, which follows a public signing between Rogelio Frigerio, the Governor of Entre Ríos, and Rafael Fraga, the LATAM Lead for Business Development at the Cardano Foundation, is with the state of Entre Ríos, a central province of Argentina. The partnership aims […] Source CryptoX Portal

AVAX Primed To Break $100 Barrier As Bullish Signs Emerge

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Avalanche (AVAX), the token powering the smart contracts platform Avalanche, is stirring excitement in the crypto sphere. Bullish technical indicators and upcoming developments within the Avalanche ecosystem are fueling speculation of a significant price surge, with some analysts eyeing a potential rally above $100. Related Reading Technicals Flash Green: A Bounce In Sight? Technical analysis based on historical data and chart patterns paints a promising picture for AVAX. Analysts point to a recent corrective phase that the token appears to have overcome, potentially setting the stage for a new uptrend.…

exchanges are navigating regulation and building trust

The global head of banking and payments at Kraken Kaushik Sthankiya and the president of the CoinW exchange Sonia Shaw discuss the state of cryptocurrency exchanges at the Money20/20 event in Amsterdam. The FTX collapse in 2022 brought bearish sentiment to the crypto ecosystem and many traders and investors wondered if they could trust crypto exchanges.  Shaw says that the industry is still recovering from the FTX collapse while trying to rebuild consumer confidence with regulatory support.  “Everything is definitely coming back, but we haven’t really got back to the…

US Lawmakers: Jailed Binance Executive, US Citizen, Wrongfully Detained by Nigeria

A group of U.S. lawmakers led by Micheal McCaul, the House Foreign Affairs Committee chairman, has accused the Nigerian government of wrongfully detaining Tigran Gambaryan. The lawmakers have asked the Biden Administration to transfer Gambaryan’s case to the Office of Special Presidential Envoy for Hostage of Affairs. Nigeria Using Gambaryan’s Detention to ‘Extort His Employer’ […] Source CryptoX Portal

OKX Ventures Invests in GoPlus to Boost Blockchain Security

OKX Ventures, the investment arm of the renowned crypto exchange and Web3 technology company OKX, has announced a strategic investment in GoPlus, a platform dedicated to enhancing blockchain security. This move underscores OKX Ventures’ commitment to fostering technologies that advance the crypto and blockchain industries, according to OKX Ventures. GoPlus: A Leader in Blockchain Security GoPlus stands out in the blockchain security landscape by offering a range of automated security services designed to protect users from various threats in the DeFi space. Its comprehensive suite…