Transaction URL: https://blockchain.com/btc/tx/af6c46646d438f8bcb6d060029e17a05835aebf4f5b04aaef487d70bab3912ec
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Kraken, the cryptocurrency exchange, has extended its custody services to institutional clients in the UK and Australia. This move marks the first international expansion of the service, which launched in the US earlier this year to manage digital assets securely. Kraken Custody offers advanced security protocols and access controls, integrated into Kraken’s product suite to support institutional crypto investment strategies.
Kraken Custody allows institutions to effectively manage and scale their crypto strategies. Operated through Kraken Financial, a US-based state-chartered bank, it ensures clients’ digital assets are held separately from the Kraken exchange. Tim Ogilvie, Head of Kraken Institutional, emphasized the importance of custody in the institutional crypto space, particularly after the success of Bitcoin ETFs, highlighting Kraken’s 12+ years of asset safeguarding experience.
Additionally, Kraken launched Kraken Institutional to meet increased demand, offering a range of products and services tailored for institutional investors, asset managers, and hedge funds. Kraken also operates Kraken Wallet, a self-custodial wallet designed to facilitate secure and simple on-chain transactions, enhancing access to decentralized finance.
WazirX Vice President Rajagopal Menon on Thursday described as a “force majeure event beyond our control,” the cyber attack on one of its multisignature wallets resulted in a loss exceeding $230 million.
What Happened: In statement to Benzinga, Menon stated that the attack targeted a multisig wallet that had been utilizing Liminal’s digital asset custody and wallet infrastructure since February 2023.
The wallet’s security setup included six signatories – five from WazirX and one from Liminal – with transactions requiring approval from three WazirX signatories and a final approval from Liminal.
“Despite robust security features, including the Gnosis Safe multisig smart contract…
Read more on Benzinga
WazirX, a Mumbai-based cryptocurrency exchange, has confirmed a significant security breach resulting in the theft of over $235 million from one of its multisig wallets.
The incident, which occurred early Thursday morning, has led to an immediate halt in Indian rupee withdrawals as the company investigates. Crypto withdrawals were already suspended at the time of the incident, according to multiple customers of the exchange reached via Telegram.
In a statement posted on X, WazirX acknowledged the breach, calling it “a force majeure event beyond our control, but we are leaving no stone unturned to locate and recover the funds.”
Security and blockchain monitoring services identified…
Read more on Blockworks
Cipher Mining Inc. is exploring a potential sale after receiving takeover interest, as the booming demand for data centers makes Bitcoin miners attractive acquisition targets. The US-based company is working with advisers to gauge buyer interest, though deliberations are in the early stages. On Wednesday, Cipher’s shares surged by 18%, settling at a 2.8% increase by 10:41 a.m. in New York, valuing the company at approximately $2.2 billion.
The AI boom has caused an unprecedented shortage of data center space, leading AI firms to target crypto-mining companies for their existing infrastructure. This trend highlights the strategic importance of crypto miners in the evolving tech landscape. Cipher Mining, however, has not confirmed if it will proceed with a sale.
In a similar move, CoreWeave Inc. recently offered to acquire Bitcoin miner Core Scientific Inc. for around $1 billion. Meanwhile, Northern Data AG, another crypto miner-turned high-performance computing provider, is considering a US listing valued at up to $16 billion.
Bitcoin changes our lives.
It’s an almost spiritual observation that we’ve all seen within ourselves. After acquiring some, learning how it works, and to various degrees delving into what this decentralized, uncensorable, proof-of-work money is, we’ve seen our lives change. It echoes history. Some people see god in it.
Bitcoiners have had their lives upended, their perspectives shifted, and their value systems altered. We see how our behavior changed from our pre-Bitcoin selves, our emphasis now squarely placed on real things, hard things, the long term, and the local. We look to our inner selves, and we look after ourselves. We see to our families. We set our own house in order…
Read more on BitcoinMagazine
As of July 18, 2024, U.S. Bitcoin ETFs have amassed significant holdings, with a combined total of 899,289 BTC, valued at approximately $57.3 billion. The net inflow for the day stands at 2,194 BTC, worth around $139 million.
BlackRock leads with 323,833 BTC and a net inflow of 1,708 BTC. Fidelity follows with 178,547 BTC and an inflow of 44 BTC. Other notable players include VanEck, which saw an inflow of 339 BTC, and Invesco Galaxy, with an inflow of 207 BTC.
Grayscale holds 273,005 BTC but experienced a minor outflow of 11 BTC, while Bitwise, with 39,835 BTC, saw an outflow of 93 BTC. ARK Invest, Valkyrie, and Franklin Templeton reported no net changes in their holdings.
The dynamic movement within the Bitcoin ETF market highlights investor confidence and the growing integration of Bitcoin into mainstream investment portfolios. The overall positive net inflow reflects strong interest and continued investment in Bitcoin, positioning it as a key asset.
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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The Chicago Mercantile Exchange (CME) has significantly expanded its presence in the cryptocurrency futures market, now accounting for over 83% of the calendar futures market for Bitcoin and 65% for Ethereum. This information highlights CME’s increasingly influential role in attracting institutional investors to the cryptocurrency trading space.
According to a recent report shared by Glassnode on social media, the dominance of CME in these sectors underscores the growing institutional interest in cryptocurrencies. The data presented shows a sharp increase in CME’s market share over the past years, particularly in Bitcoin futures, marking a robust trend towards institutional trading frameworks.
This shift is not only indicative of CME’s strategic positioning but also signals a broader acceptance and maturation of cryptocurrency markets among traditional financial entities. Analysts suggest that this could lead to greater liquidity and potentially more stabilized market conditions for cryptocurrencies moving forward.
The cryptocurrency market presents a dynamic mix of risks and rewards, varying widely across different assets. Bitcoin, the original cryptocurrency, is often considered a lower-risk investment in this volatile landscape. Its established history and widespread acceptance offer stability, appealing to both novice and seasoned investors.
Ethereum, with its reliance on smart contracts and decentralized applications, carries a slightly higher risk. However, it offers significant rewards, especially for those who see potential in decentralized finance (DeFi) and non-fungible tokens (NFTs).
Beyond Bitcoin and Ethereum, mid-cap, low-cap, and micro-cap coins populate the market. These smaller assets promise extraordinary rewards but come with a much higher risk of loss. Investors in this space must brace for volatility and potential total loss, balanced by the chance for exponential gains.
Understanding the risk-reward ratio is crucial for crypto investors. While Bitcoin and Ethereum provide safer options, the high returns from smaller coins are enticing. Crafting a balanced portfolio with these considerations can help navigate the ever-evolving crypto market with confidence.
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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