Funding Roundup: Stablecoin fundraising and M&A activity heats up

Tether made moves this week, investing in Quantoz alongside Kraken and Fabric Ventures. The team did not disclose the amount invested.

Alongside the announcement, the Dutch-based stablecoin company also announced it was launching euro and US dollar stablecoins. 

“EURQ and USDQ are respectively euro and US dollar-referenced E-Money Tokens (EMTs), issued on the Ethereum blockchain by Quantoz, an Electronic Money Institution (EMI) authorised and supervised by De Nederlandsche Bank (DNB), the Dutch Central Bank,” a press release said.

Read more from our opinion section: The time for US stablecoin regulation is now 

Both EURQ and USDQ were listed by Bitfinex and Kraken…

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Weekly U.S. Bitcoin ETFs Net Flow Analysis

For the week spanning November 18 to November 24, 2024, the U.S. Bitcoin ETFs saw a total net inflow of 26,029 BTC, signaling strong market activity and investor confidence.

BlackRock’s Bitcoin ETF (Ticker: IBIT) led the week with a substantial increase of 16,129 BTC, making it the standout performer in terms of net inflows. Fidelity’s Bitcoin ETF (Ticker: FBTC) also had a strong week, adding 5,963 BTC. Other ETFs that saw notable inflows include Bitwise’s Bitcoin ETF (Ticker: BITB) with 1,541 BTC, ARK’s Bitcoin ETF (Ticker: ARKB) with 2,032 BTC, and Invesco Galaxy’s (Ticker: BTCO) with an addition of 656 BTC.

On the other hand, Grayscale’s GBTC (Ticker: GBTC) experienced a net outflow, decreasing by 866 BTC, which marked a notable exception to the otherwise positive inflow trends observed across most ETFs.

Additional gains were recorded by Grayscale’s BTC fund (Ticker: BTC) with 258 BTC, VanEck’s (Ticker: HODL) with 113 BTC, Valkyrie’s (Ticker: BRRR) with 145 BTC, and Franklin Templeton’s (Ticker: EZBC) with 58 BTC.

The total Bitcoin holdings across these ETFs reached 1,073,559 BTC by the end of the week, reflecting a net increase in market value of approximately $2.52 billion, highlighting a week of vigorous trading and substantial capital inflows into the cryptocurrency ETF market.

Disclaimer: Market capitalizations and data can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

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Crypto Hiring: Industry waits for more Trump appointments

Though not the type of crypto hire we typically cover in these roundups, President-elect Donald Trump nominated Cantor Fitzgerald CEO Howard Lutnick to lead the Department of Commerce this week.

We highlighted Lutnick’s remarks on bitcoin in a September edition of the Forward Guidance newsletter. At the time, the CEO noted that traditional finance players — including banks and brokerages — would “go headfirst into bitcoin” when the regulatory environment improved. 

Trump’s election win has seemed to set the stage for that, given the crypto promises he has made (namely, “firing” Securities and Exchange Chair Gary Gensler).

Read more: Trump nominates pro-crypto…

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