Traders will be closely watching how Bitcoin’s weekly chart closes on May 12 to look for signs of the end of the downtrend.
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- Crunch
- Global
Base is already home to 46% of transactions related to SocialFi on-chain, but the asset manager says it has even more room to grow.
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Binance hits back at claims it fired investigator who found manipulation, Hong Kong crypto ETFs take the “equivalent” of $50B. Asia Express.
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Digital Currency Group (DCG), the powerhouse behind asset manager Grayscale, has seen its first quarter revenue soar by 11% to $229 million. Grayscale contributed a significant $156 million, maintaining its revenue despite facing stiff competition and fee reductions post its transition to an Exchange Traded Fund (ETF). The recent spike in bitcoin and ether values has bolstered DCG’s financial performance, with the company expressing that outcomes for its Grayscale Bitcoin Trust (GBTC) exceeded expectations.
Further boosting investor confidence, DCG revealed a substantial 51% year-over-year revenue increase. This growth coincides with record-breaking bitcoin prices and the U.S. approval of Grayscale’s GBTC and spot Bitcoin ETFs. Such regulatory milestones have painted a favorable picture for the crypto industry, demonstrating a robust start to 2024 for DCG.
Despite challenges like substantial outflows and higher fees relative to its peers, Grayscale is adapting by proposing a new Grayscale Bitcoin Mini Trust ETF. This move, pending U.S. Securities and Exchange Commission approval, aims to offer bitcoin exposure at reduced costs, aligning with investor interest in more economically efficient crypto investment vehicles.
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Politically themed memecoins defy the crypto market’s drab performance by rallying in excess of double-digit gains.
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The TradFi world has been exploring more ways to use blockchain tech for years now.
But the sheer number of financial players involved in the latest proof-of-concept makes it different from most. Not to mention the size of the entities, and their approach.
Payment giants Visa and Mastercard are coming together with banks JPMorgan, Citigroup and others to test a so-called Regulated Settlement Network.
The proof-of-concept sets out to experiment with shared ledger technology to settle tokenized commercial bank money, wholesale central bank money, US Treasury securities and other tokenized assets, a Wednesday news release notes.
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Former SEC commissioner Troy Paredes was not the first to criticize the U.S. financial regulator’s lack of clarity on digital assets.
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Revenue at Digital Currency Group (DCG) increased 51% to $229 million in the first quarter of 2024, driven by the rebound in crypto markets.
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Ripple joins the Hedera and Algorand Foundations and industry players to advance a recovery standard to rival ERC-4337.
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