08-JAN-2021

2 weeks ago

Intercontinental Exchange crypto venture Bakkt nears SPAC deal: report – via THE BLOCK
Digital asset firm Bakkt is looking to tap into the public markets through a SPAC deal, according to a Bloomberg report. Bakkt, a venture by Intercontinental Exchange, is in advanced stage talks to go public through a merger with blank-check firm VPC Impact Acquisition Holdings, according to Bloomberg’s sources. The transaction, which could be announced next week, would value the merged entity at more than $2 billion.

2 weeks ago

Coinbase Trends On Twitter For Downtime During Bitcoin Break Above $40K – via NEWSBTC
Bitcoin momentarily blasted above $40,000 today, doubling its previous peak set back in 2017. A huge rejection took place shortly after the level was overcome, prompting a $4,000 drop near instantly. But as eager buyers stepped in to “buy the dip” on Coinbase, they were met with frustration and disrupted services. And because Bitcoin is trending on Twitter, Coinbase is now also but for all the wrong reasons. Here’s why Coinbase needs to shape up its act before the bull run enters the next phase.

2 weeks ago

Third Major South Korean Bank to Enter Crypto Custody Fray – via CryptoNews
More mainstream South Korean financial companies are taking the crypto plunge, with Shinhan Bank, one of the biggest commercial banks in the country, making a move into the crypto custody industry with a strategic equity investment in the Korea Digital Asset Trust (KDAC). The KDAC is a joint-venture custody company that was established by the domestic crypto exchange Korbit, as well as blockchain technology company Blocko and the digital asset researcher Fair Square Lab.

2 weeks ago

Crypto Tax Automation Startup TaxBit Draws Investment From PayPal and Coinbase – via CoinGape
TaxBit, a Utah-based crypto tax automation solution startup has raised an undisclosed amount from key fintech firms PayPal Ventures and Coinbase Ventures along with several existing investors Winklevoss Capital. The crypto startup offers a crypto taxation solution in the form of automation software that can help individuals, businesses, and crypto exchanges to manage their crypto portfolios thus helping to further the adoption.

2 weeks ago

BitMEX Finally KYCs All Users but Bitcoin Balance Is Down 66% – via Decrypt
Crypto derivatives exchange BitMEX has announced that all of its active users are now verified. But some of its users have already left. Crypto derivatives exchange BitMEX has announced that it starts 2021 with “a fully verified active user base.” The completion of its User Verification Programme comes on the heels of various charges filed by the CFTC in October. Meanwhile, BitMEX users’ Bitcoin balances have decreased by two-thirds in 2020.

2 weeks ago

Bitcoin Dominance Broke a High Not Seen Since March 2017 – via Decrypt
Bitcoin’s market dominance reached 72% earlier this week. This was the highest it’s been for almost four years. Bitcoin’s market dominance has grown to a high that hasn’t been seen since March 2017. Market dominance is used to capture Bitcoin’s value in the wider crypto industry. Other cryptocurrencies have seen mixed results with their own share of the market.

2 weeks ago

On-Chain Analysis Shows Rise in Number of Bitcoin Whales as Requests Soar For $1 M+ Buys – via CoinGape
A new trend is emerging across major crypto exchanges where big bitcoin whales seem to have finally joined on the Bitcoin frenzy post institutional validation. Top crypto exchanges have received several buy orders of above $1 million in the past week which explains how bitcoin has managed to remain unfazed by any market correction.

2 weeks ago

Mike Novogratz Warns Bitcoin Could Go Down If Speculative Bubble Bursts – via U.TODAY
On Thursday’s broadcast of CNBC’s “Squawk Box,” Galaxy Digital CEO Mike Novogratz warned that Bitcoin could go down together with stocks because there is too much correlation with risk assets: If the S&P was down 20 percent in the next three days, Bitcoin would be lower, not higher. He predicts that high-flying stocks like Tesla (TSLA) are eventually going to “reverse hard”: You’ve got to watch for cracks. One day, we will wake up, and markets will be reversing, and then they will reserve hard.

2 weeks ago

Finland’s customs authority is looking to sell bitcoin seized in 2016, now worth more than $75 million – via THE BLOCK
Finland’s customs authority, Tulli, is looking to sell 1,981 bitcoins, local public broadcaster Yle reported the news on Thursday. The majority of the seized bitcoins (1,666) were confiscated in 2016 via the arrest of Finnish drug dealer Douppikauppa. The bitcoins were worth about $860,000 at the time of confiscation, and now they are valued at more than $75 million.

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