investments
Tether’s reported bank partner Capital Union shares its crypto strategy
Capital Union, a Bahamas-based bank that reportedly holds a portion of reserves by the Tether (USDT) stablecoin issuer, has been itself actively involved in the cryptocurrency industry. The banking institution has rolled out crypto trading and custody services to its professional clients as part of the bank’s trading desk, a spokesperson for Capital Union told Cointelegraph on May 31. “We work with a few selected trading venues and liquidity providers and a handful of custodians and technology providers, which allows us to support a large variety of digital assets as part of our trading and custody services,” the firm’s representative said. Capital Union’s crypto-related services still represent a “fairly small portion” of its business, which is mainly focused on providing...
Crypto’s youngest investors hold firm against headwinds — and headlines
These can be anxious times for holders of cryptocurrencies, especially those who entered the market in late 2021 when prices were cresting. Bitcoin (BTC), Ether (ETH) and especially altcoins now appear to be undergoing a major reset, down 50% or more from November highs. Some worry that a whole generation of crypto adopters could be lost if things crumble further. “If the market decline continues, it will become too painful and retail investors will bail,” Eben Burr, president of Toews Asset Management, told Reuters earlier this month. “Everyone has a breaking point.” But, all the gloom and doom could be overdone. It’s “unnerving,” acknowledged Callie Cox, United States investment analyst at eToro, but it’s only par for the course for a market that scarcely existed a decade ago. Bitcoin, a...
F1 Monaco GP: Bybit’s Red Bull Racing NFTs, crypto-F1 partnerships and more
From NFTs and fan tokens to multi-year partnerships, the crypto community continues to support the F1 landscape in numerous ways. Crypto has taken over the world, and Formula 1 was no exception to the disruption. From nonfungible tokens (NFTs) and fan tokens to multi-year partnerships, the crypto community continues to support the F1 landscape in numerous ways. Monaco Grand Prix 2022 saw F1’s fastest pit crew, Oracle Red Bull Racing (ORBR), partner with crypto exchange Bybit to launch ORBR’s 2022 NFT collection — minted on the Tezos blockchain. The limited-edition NFT collection is made available via an auction, wherein bidders get to collect digital collectibles representing various aspects of Red Bull’s past, present and future. Speaking to Cointelegraph editor-in-chief Kristina Cornèr, ...
WEMIX gains 200%+ after stablecoin and boosted staking rewards announcement
Blockchain-based gaming, also known as GameFi, is an up-and-coming sector that could potentially be one of the primary catalysts for kickstarting the mass adoption of blockchain technology. WEMIX, a gaming protocol that operates on the Klaytn network, aims to get in on the GameFi revolution and this week, the project’s native token (WEMIX) rallied even as the wider market continued to sell-off. Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $1.27 on May 12, WEMIX price climbed 269% to hit a daily high at $4.70 on May 25 as its 24-hour trading volume increased to $652 million. WEMIX/USDT 1-day chart. Source: TradingView Three reasons for the price reversal for WEMIX are the upcoming launch of WEMIX 3.0, a series of project launches and partnershi...
ADDX bags $58M to reduce min. private investment by 10x via smart contracts
ADDX, a blockchain and smart contract-based digital securities platform from Singapore raised $58 million from mainstream financial institutions to fund its goal of reducing minimum private investment sizes via tokenization and fractionalization. The Monetary Authority of Singapore regulates ADDX as a digital securities exchange that aims to democratize private markets. The Pre-Series B funding round saw participation from the Stock Exchange of Thailand (SET), UOB, Nasdaq-listed Hamilton Lane and Thailand’s Krungsri Bank, which has brought total funds raised by ADDX to around $120 million. As explained in the announcement, ADDX uses blockchain technology and smart contracts to tokenize and fractionalize private markets, including pre-IPO equity, private equity, and hedge funds and bonds. A...
Fed report finds most Americans who own crypto tend to be high income hodlers
The United States Federal Reserve Board has included data on cryptocurrency in its new Economic Well-Being of U.S. Households in the 2021 report. The Fed’s ninth annual report looked at survey results from 11,000 people questioned in October and November 2021. The report indicated financial wellbeing is the highest it has been since reporting began, with 78% of U.S. adults “doing okay or living comfortably financially.” That is an increase of 3% over the last three years. As a diagnostic of financial fitness, the report cites the 68% of Americans who say they could cover a $400 emergency expense using cash or its equivalent alone. The report looked at cryptocurrency usage for the first time. It found that 12% of U.S. adults held or used crypto in 2020, with 11% holding it as an inves...
Novogratz says LUNA tattoo is a constant reminder investing ‘requires humility’
Mike Novogratz, the billionaire founder of crypto asset management firm Galaxy Digital, has told his followers that his LUNA-inspired tattoo will serve as a reminder to remain humble in the world of venture capital investing. Following the fallout of the recent LUNA / UST meltdown, Novogratz penned an open letter on Wednesday, telling his followers that: “My tattoo will be a constant reminder that venture investing requires humility.” It was on Jan. 5 tha Novogratz first showed off his wolf-themed tattoo to his 461,000 Twitter followers in an enthusiastic demonstration of his support for the now-collapsed Terra ecosystem. pic.twitter.com/GBZ6qq4kdr — Mike Novogratz (@novogratz) January 5, 2022 Terra’s UST stablecoin, which relied on an algorithm to maintain a peg to the U.S. dollar...
Life-changing money: The 10 most expensive NFTs sold to date
Nonfungible tokens, or NFTs, are turning out to be a treasure store with prices striding into the millions of dollars. Instances of an NFT garnering more than $69 million or a tweet fetching $2.9 million are not a fantasy, but an incredible reality. In 2021, an NFT by digital artist Beeple, or Mike Winkelmann, sold for a whopping $69 million, making NFTs a media hotshot and opening the floodgates for a string of other NFT sales, many of these in millions of dollars. Prompted by the plentiful talk about NFTs, stars like Paris Hilton, Lindsay Lohan, Eminem, Grimes and many more have hopped onto the NFT bandwagon. In 2022, NFTs have been garnering attention from investors, artists and collectors alike. Let’s take a glance at the 10 most expensive NFTs sold to date: Beeple’s Crossroads — $6.6 ...
No rescue for Terra: Swiss asset manager denies $3B LUNA/UST bail-out talks
GAM Investments has quashed fake news reports that surfaced on Friday that claimed the Swiss asset manager would invest some $3 billion to aid in the recovery of the Terra ecosystem, including LUNA and TrueUSD (UST) stablecoin. An announcement published on May 12 claimed that the firm was engaging in talks with Terraform Labs to assist in recovery attempts after Terra’s algorithmic stablecoin UST lost its $1 peg — causing a cataclysmic crash of the acclaimed blockchain protocol which had become a darling of the Decentralized Finance space. Cointelegraph has confirmed with GAM Investments that the press release was fabricated — with head of communications and investor relations Charles Naylor categorically labeling the release as fake news – which even included fake quotes from ...
Michael Saylor assuages investors after market slumps hurts MSTR, BTC
MicroStrategy’s CEO and Bitcoin proponent Michael Saylor is confident his firm’s BTC holdings will more than cover a potential margin call on Bitcoin-backed loans. The American business intelligence and software giant made headlines in 2021 with a number of major investments into Bitcoin. Saylor was a driving force behind MicroStrategy’s decision to convert its treasury reserve into BTC holdings. Global markets have suffered major losses in early May and Microstrategy’s stock has not been spared. MSTR has seen its value drop by 24% and the value of Bitcoin has also slumped considerably along with the wider cryptocurrency markets. This is cause for concern as the company’s subsidiary MacroStrategy took out a $205 million loan from Silvergate Bank in March 2022, with a portion of MicroStrate...
What are the top social tokens waiting to take off? | Find out now on The Market Report
“The Market Report” with Cointelegraph is live right now. On this week’s show, Cointelegraph’s resident experts discuss the social tokens you should be keeping a close eye on. But first, market expert Marcel Pechman carefully examines the Bitcoin (BTC) and Ether (ETH) markets. Are the current market conditions bullish or bearish? What is the outlook for the next few months? Pechman is here to break it down. Next up: the main event. Join Cointelegraph analysts Benton Yaun, Jordan Finneseth and Sam Bourgi as each makes his case for the top social token. First up, we have Bourgi with his pick of STEEM, the native token of the Steem social blockchain network, which rewards users for content creation. Its aim is to give back value to content creators who contribute on the platform. Although is ...
Binance commits $500M to co-invest in Twitter with Elon Musk
Major crypto exchange Binance has participated in Elon Musk’s $44 billion acquisition of Twitter, according to data filed with the United States Securities and Exchange Commission. On May 5, Musk filed an amended general statement of the acquisition, announcing that Twitter received an aggregate of about $7.2 billion in new financing commitments in connection with the merger agreement, subject to the conditions in co-investor equity commitment letters. According to the document, Binance is one of 18 co-investors in the acquisition alongside major crypto industry players like Sequoia Capital Fund and Fidelity Management and Research Company. Having invested $500 million, Binance is the fourth biggest contributor, following Lawrence J. Ellison Revocable Trust, which invested $1 billion. Sequ...
