Category: Reviews

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…

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…

The Sandbox Unveils New ERC-1155 Token CATALYSTs on Polygon to Empower Creators

The Sandbox introduces CATALYST tokens on Polygon, replacing gems in NFT minting. These ERC-1155 tokens enable users to mint, monetize, and sell creations, enhancing platform capabilities. In a significant move within the metaverse, The Sandbox introduces CATALYSTs, ERC-1155 tokens aimed at empowering creators. These tokens enable users to mint ASSETs with defined rarity and properties across five tiers. The all-new CATALYSTs tokens on Polygon Layer 2, serve as a replacement for gems in the NFT minting process. These ERC-1155 tokens also empower users to mint, monetize, and sell their creations,…

Tether Freezes over 160 Ethereum Wallets Tied to OFAC Sanctions List

Reactions from the crypto community have been mixed, with some viewing Tether’s actions positively in terms of encouraging wider adoption and demonstrating improved oversight within the stablecoin market. In an unexpected move, the USDT stablecoin issuer Tether froze 161 Ethereum wallets that were found to be linked to individuals on the US Treasury Department’s Office of Foreign Assets Control (OFAC) sanctions list. This preemptive action by Tether represents an effort to enforce US sanctions and prevent any potential misuse of its stablecoin, USDT, by sanctioned entities. The company in its…

Coinbase Stock Down 3% in Pre-Market, Cathie Wood’s ARK Invest Sold $49.2M Worth of COIN Shares on Friday

At the time of writing, Coinbase stock is trading at $141.98 whoch indicates a drop of over 3%. Coinbase stock is in the red zone during the pre-market session today while Bitcoin price has decreased from $44,000 to around $41,600.  At the time of writing, BTC is trading at nearly $42,000. It is reported that Cathie Wood’s ARK Invest has been gradually selling Coinbase Global Inc (NASDAQ: COIN) stock in recent weeks. On Friday, the company got rid of COIN shares worth $49.2 million. The sale that took place on…

Goldman Sachs Expects Fed to Deliver First Rate Cut in Q3 2024

Goldman Sachs brought forward its forecasts for the Fed’s interest rate cut to Q3 2024 from Q4. Goldman Sachs, a world-known investment banking company, revealed its forecasts for the Fed’s interest rate cut. The investment giant believes that it will take place in Q3 2024 while previously it forecasted that it would happen in Q4 2024. The changes in these estimates followed the significant movements in the crypto market that have been recently observed. The growth in the prices of Bitcoin and major altcoins was attributed to traders’ optimism on…

Crypto VC Firm C1 Explores Acquisitions in Australia, Targets Animoca Brands and Chainalysis

Australia’s recent regulatory developments in the crypto space coincide with C1’s endeavor to acquire private holdings in the country. Crypto venture capital firm C1 is making strategic moves to acquire private holdings in Australia’s crypto market, according to reports from local media, Australian Financial Review, citing a Pitch Deck seen by the company. The firm, founded by former Coinbase executives, plans to utilize its $500 million fund to purchase secondary shares from prominent companies and local ventures, preferably those with a minimum valuation of $300 million from series C funding…