Grayscale has officially started the Bitcoin ETF journey, Facebook is piloting Novi with Coinbase, … are the highlights of the crypto market in the last 24 hours, according to cryptonew.
BILLIONCrypto Market Highlights: Investment News
- Big crypto manager Grayscale says NYSE Arca filed Form 19b-4 with the U.S. Securities and Exchange Commission (SEC) to convert Grayscale Bitcoin Trust into a Bitcoin (BTC) Exchange Traded Fund.Spot (ETF). The trust is arguably the largest BTC investment vehicle in the world and, according to Grayscale, holds about 3.44% of all BTC in circulation.
- According to Bloomberg, investment management company Invesco has given up its pursuit of a short-term secured Bitcoin futures ETF. However, they added that they will continue to work with Galaxy Digital to offer various products with BTC exposure, “including the pursuit of a physically backed ETF for digital assets.”
- The venture capital company Variant Fund, founded by Andreessen Horowitz (a16z) alumnus Jesse Walden, has announced the closure of a new $ 110 million fund. Variant is launching this new fund for the “property economy”. Another a16z veteran, Li Jin from Atelier Ventures, joins as a partner investor.
- Brian Cho and Jason Yeh, two veterans of gaming giant Riot Games, founded a new company called Patron and raised $ 90 million for their Endowment Fund I to invest in what they call the Spectrum of Play. “We are proud to bring Patron to market. An early stage venture company investing in the convergence of games, consumers and Web 3, ”Cho tweeted. Patron I, fully raised by Zoom in four months, is backed by an “extensive list” of investors, founders and builders, they said.
- Blockchain Moon Acquisition Corp (BMAC) has received the green light from the Securities and Exchange Commission (SEC) to list $ 100 million worth of shares in a special purpose transfer (SPAC) Blockchain Moon Acquisition Corp (BMAC) offering (IPO) ). According to a previous filing with the SEC, the IPO price of 10 million units at $ 10 per share will be listed on the Nasdaq Global Market on Tuesday, October 19.
- Chainalysis, the US-based blockchain data platform, is expanding its partnership with NYDIG, a bitcoin technology and financial services company, to make bitcoin purchases on its balance sheet. The company did not provide any details about this investment.
- UK digital bank Revolut has cut fees for US customers on a number of products. It now allows them to trade up to $ 200,000 per month in cryptocurrencies with no commissions charged for trading, reports Fortune. Previously, standard Revolut users could trade $ 200 a month before fees were incurred. Customers can also make 10 international transfers per month to anyone in 30 countries, as well as withdrawing up to $ 1,200 per month from off-net ATMs with no fees.
- The privacy layer on the Manta Network blockchain has announced a $ 5.5 million funding round led by Coinfund and Parafi Capital. The company will initially focus on winning a Parachain auction on Polkadot (DOT) and then launch its first product, MantaPay, which enables private transactions for all Parachain products from accounts.
Crypto Market Highlights: Stablecoin News
▶ The social media giant Facebook announced that it has selected the large crypto exchange Coinbase as a custody partner for the test of its Novi digital wallet. For the pilot, Coinbase is supporting Novi through Coinbase Custody and its fully isolated cold storage capabilities for managing private keys, they added. Novi users who can take the trial version can receive Pax Dollars (USDP) and can then transfer USDP to each other. Facebook says it’s starting with a “little pilot” launch of the Novi app in Guatemala and the US. “The purpose of the test was to confirm our operational readiness and to show that our Novi systems, such as
▶ Research firm Fitch Ratings notes that stablecoins approaching systemically important levels could play an important role in the short-term stock market. An illustrative scenario for the growth of commercial paper (CP) stablecoin holdings suggests that they are likely to outperform US money market funds (MMFs) between 2023 and 2029, but “Assumptions This is unlikely to be met in practice,” added the team.
Crypto Market Highlights: Political News
The U.S. Treasury Department said in a report that cryptocurrencies can weaken the effectiveness of U.S. sanctions. “These technologies offer bad parties an opportunity to hold and transfer funds outside of the traditional dollar-based financial system,” the report said. It added that they could be used by competitors “to build new financial and payment systems that reduce the dollar’s global role”.
Crypto Market Highlights: CBDCs News
The digital currency of the E-Cedi Central Bank (CBDC), which is to be piloted by the Bank of Ghana, is supposed to enable transactions without electricity or connectivity, reports Bloomberg. . They are looking for smart cards that will allow people without internet or even power access to use CBDCs in their daily life.
Crypto Market Highlights: Stock Market News
Binance announced the completion of its 17th quarterly Binance Coin (BNB) token burn of 1,335,888 BNB ($ 639 million). Every quarter, Binance undertakes to burn BNB until 50% of the total supply of BNB (approx. 100 million BNB) is withdrawn from circulation.
Crypto Market Highlights: New Product and Service News
Banco Hipotecario, a state-owned bank of El Salvador, has announced an opportunity for developers worldwide to participate in what is known as the Bitcoin Bankathon, which will take place in the 19th Solutions that will enable Banco Hipotecario to offer Bitcoin banking and financial services to all Salvadorans. The two-week event takes place virtually, while the third event takes place in El Salvador.
Crypto Market Highlights: NFT’s News
Binance NFT Markets announced the launch of “The AP Unique Moments” collection of non-fungible tokens (NFTs), which runs from October 19 to October 26. Each NFT has been presenting the most important Associated Press news for over 100 years.
Join our Facebook group and Telegram group Coincu News to chat with more than 10,000 other people and share information about the crypto currency market.
Important NOTE: All content on the website is for informational purposes only and does not constitute investment advice. Your money, the choice is yours.