Cambrian Says Its New Bitcoin, Ethereum Trusts Will Cut Through Volatility
The California-based asset manager said the new trusts will reduce volatility through its active management strategy. Quantitative crypto hedge fund Cambrian Asset Management said its two new actively managed trusts, one trading bitcoin and one trading ethereum, will manage downside risk. The $200 million fund said in a press release on Wednesday that its management strategy will “manage […]
Dapper Labs Said to Reach $7.6B Valuation in $250M Funding Round
The firm behind NBA Top Shot and the Flow blockchain also announced a deal with Spain’s top soccer league, LaLiga. Dapper Labs has closed a $250 million funding round, the company behind NBA Top Shot and the Flow blockchain said Wednesday. Coatue led the raise, which also included Andreessen Horowitz, Google’s GV and Version One […]
US Sanctions Enforcer Blacklists a Crypto Exchange for First Time
The Treasury’s Office of Foreign Assets Control labeled Suex.io a “specially designated national,” putting the exchange in a category with suspected terrorists. The U.S. government has sanctioned a cryptocurrency exchange for the first time as part of its ongoing fight against ransomware attacks. The Treasury Department announced Tuesday it is adding Russia-based Suex.io to its list of […]
Bitcoin in Pullback Mode, Support at $40K-$42K
Initial support is seen at $40K-$42K, which could stabilize the pullback. Bitcoin (BTC) sellers were active over the weekend as the cryptocurrency’s price dipped below the 200-day moving average at $45,000. Initial support is seen in the $40,000-$42,000 range where a breakout occurred on Aug. 6. The $50,000 resistance level was tested several times over […]
Interactive Brokers rolls out crypto trading with Paxos
Global electronic brokerage firm Interactive Brokers Group is teaming up with Paxos to enable crypto trading. Interactive Brokers’ clients can now trade and custody Bitcoin, Ethereum, Litecoin and Bitcoin Cash through Paxos. The assets will be accessible alongside traditional assets through a single interface. For now, the services are only available to U.S. residents with […]
Scaramucci’s SkyBridge accelerates its move into crypto with a blockchain partnership
SkyBridge Capital’s Anthony Scaramucci is stepping up his firm’s move into the cryptocurrency world, announcing on Monday a partnership aimed at expanding into the blockchain universe. The hedge fund is joining with trading platform NAX in a series of fundraising efforts, the first of which will seek to bring in up to $250 million. Using […]
CIO of $9.5 Trillion AUM Asset Manager BlackRock Says They Own Some Bitcoin
Earlier today (September 9), Rick Rieder, a Managing Director at BlackRock, the world’s largest asset manager, explained during an interview why his firm owns some Bitcoin. BlackRock, which was founded in 1988, started with just eight people working in one room. It made its Initial Public Offering on the New York Stock Exchange on 1 October 1999 at […]
SEC Threatened to Sue Coinbase Over Lending Product, CEO Says
The securities regulator is threatening to sue Coinbase should the exchange launch its Lend product, Brian Armstrong claimed in a Twitter thread. U.S.-based cryptocurrency exchange Coinbase says the Securities and Exchange Commission (SEC) has threatened to sue over its yet-to-be-launched “Lend” program. Coinbase said it had been in discussions with the SEC over its program […]
Millennials will power a bull market in stocks for decades: Ark Invest’s Cathie Wood
Cathie Wood tells Yahoo Finance Live that just like baby boomers have heavily influenced the stock market for decades, their children — aka millennials — will be equally if not more important to the investing landscape in the decades to come. And that is one reason why the closely followed Ark Invest founder and CEO is staying long-term bullish on […]
Bitcoin Now Legal Tender in El Salvador, Marking World First
In a show of support, crypto proponents are buying $30 worth of bitcoin to commemorate the occasion known colloquially as “Bitcoin Day.” Bitcoin is now officially legal tender in El Salvador, three months after the Bitcoin Law passed the country’s legislature. While the move marks a world-first, El Salvador’s President Nayib Bukele said in a tweet the […]