Crypto
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Here’s what experts think about VanEck’s recently proposed ETF focused on BTC and Gold mining firms
The proposed ETF product will invest in companies involved in gold and Bitcoin mining The investment firm previously filed for a spot crypto ETF but got rejected New York-based ETF and mutual fund manager VanEck, earlier this month, applied a new ETF product with indirect exposure to cryptocurrency and precious metals. As per a recent SEC disclosure, the proposed offering will focus on securities in an index tracking digital assets and gold mining companies. The global investment firm, which had $81.7 billion worth of assets under management as of November last year, submitted its application to the US Securities and Exchange Commission last Thursday. The disclosure did not feature specific details around the fund’s ticker. A number of experts have found fault with the VanEck Gold and Digi...
Bain Capital launches a first crypto-dedicated fund worth $560 million
The BCV Fund I has already invested $100 million into some unnamed crypto projects The Fund aims for active participation in crypto start-ups The venture arm of Massachusetts-based investment firm Bain Capital, Bain Capital Ventures (BCV), has announced the launch of a first dedicated crypto-focused fund, called the BCV Fund I. With a $560 million ‘armoury,’ BCV will aim to advance its crypto endeavours even further, as it has been a player in the crypto scene for seven years now. Notably, it holds investments in some prominent names in the space, including Grayscale’s parent company, the Digital Currency Group, Compound, and BlockFi. Since the Fund closed last November, Bain Capital Crypto, which runs it, has already invested $100 million into a slew of yet unrevealed cr...
Bitcoin stuck under $40K, but BTC price hits another all-time high vs. Russian ruble
Bitcoin (BTC) recovered from one-week lows on March 8 after a lack of progress in Russia-Ukraine talks that sent markets tumbling. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Commodities “trading like meme stocks” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD bouncing at $37,170 on Bitstamp after Monday‘s Wall Street open. Overnight progress maintained support with the pair trading at around $38,500 at the time of writing. Crypto and stocks reacted badly to the lack of consensus that ended the third round of negotiations to end hostilities between Russia and Ukraine. “There are small positive subductions in improving the logistics of humanitarian corridors… Intensive consultations have continued on the basic political block of the regulations, alo...
VanEck files for new ETF to track crypto and gold mining companies
VanEck, an investment firm with almost $82 billion in assets under management, has submitted an application to the United States Securities and Exchange Commission (SEC) for the launch of a new exchange-traded fund (ETF) that invests in gold mining and Bitcoin (BTC) mining companies. According to the SEC document filed on Thursday, the fund will focus on securities in an index that reflects the performance of gold mining and digital assets mining firms. It would not invest in cryptocurrencies directly or through derivatives. However, there was no ticker or cost ratio mentioned in the document. VanEck ETF Trust files with the SEC-VanEck Digital Assets Mining ETF https://t.co/pSaogEzRVW — Exchangetradedfunds (@ETFsinfo) March 8, 2022 The news of VanEck‘s proposed fund comes as concerns over ...
Swiss crypto bank Sygnum secures in-principal approval in Singapore
Sygnum Singapore, a subsidiary of Switzerland-based cryptocurrency bank Sygnum, is expanding services after securing new regulatory approval from local authorities. The company announced Tuesday that Sygnum Singapore received in-principle approval from the Monetary Authority of Singapore (MAS) to offer three additional regulated activities under capital markets services (CMS) license. The CMS license was initially granted in 2019, allowing Sygnum Singapore to conduct asset management activities. The latest in-principle regulatory approval upgrades Sygnum Singapore to enable new tools like providing corporate finance advisory services, dealing with tokenized capital market products and digital assets, as well as offering custodial services for asset and security tokens. With the additional ...
Mama Bitcoin: Fishing for female empowerment with crypto in West Africa
Mama Bitcoin is the pseudonym claimed by a young Senegalese Bitcoiner called Bineta. Her business, Bleu comme la mer, was the first retailer in Senegal (and possibly West Africa) to accept crypto as payment. She’s also the first generation of her family to read and write proficiently. The name Mama Bitcoin takes inspiration from the initials of her name, while the “mama” not only reflects her motherly instincts but serves to inspire other women in West Africa to get into blockchain technology and Bitcoin (BTC). She told Cointelegraph: “There are very few women that are active in the blockchain space around the world and the situation is no different in Senegal. I wanted to shine a light on being a woman in the crypto industry.” Bineta first stumbled across Bitcoin in early 2017 thank...
Crypto markets recover from Monday’s brief dip with BTC eyeing $39k
Market activity has been largely positive in the last few hours THETA price has shot up following the pullback while Ether has cut above $2,550 The cryptocurrency sector is still reeling from late Monday’s short-lived slump that saw tokens fall to their weekly lows. Bitcoin, which appeared to have cleared $39k earlier during the day, slid from $39,060 to a 7-day low of $37,387.92 in four hours, CoinGecko data shows. The king cryptocurrency has since bounced back and is changing hands at $38,860 – up 1.40% in the last 24 hours. Ether, whose ETH/USD hourly trading chart shows positive movement, has clawed its way back above $2,575. Yesterday, the token fell to an intraday low slightly below $2,460 – a price level last touched on February 24. The pair has moved up by 1.4% today and is t...
Report: President Biden set to sign a crypto executive order this week
The executive order will put focus on possible legal and economic impacts of digital assets The White House’s approach has come under keen scrutiny in recent days, with concerns that Russia could use crypto to evade economic sanctions US President Joe Biden will reportedly sign an executive order on crypto this week, potentially leading towards a framework for the regulation of digital assets. Talks of market-wide crypto regulation have been around since last October, as the government resolved to fight the then surging threat of cybercrime and ransomware. Now, according to a report published yesterday, Bloomberg says the order could be signed as soon as tomorrow. Citing an individual familiar with the matter who preferred to remain unidentified, the news outlet explained that t...
FinCEN includes crypto in alert on Russia potentially evading sanctions
The United States Financial Crimes Enforcement Network, or FinCEN, a bureau of the Treasury Department, has warned financial institutions to consider crypto as a possible means Russia may attempt to use to evade sanctions related to the country’s military action in Ukraine. In a Monday alert, FinCEN reminded U.S.-based financial institutions “with visibility into cryptocurrency” and convertible virtual currency, or CVC, to report any activity that could be considered a potential way for Russia to evade sanctions imposed by the U.S. and its allies. While the U.S. watchdog said that the Russian government using CVCs to evade large scale sanctions was “not necessarily practicable,” financial institutions were obligated to report such activities from Russian and Belarusian individuals named in...
Bitcoin price rejection at $39K and mounting regulatory concerns tank the market again
Volatility and choppy price action continued to dominate the cryptocurrency market on March 7 and news that United States President Joe Biden plans to sign an executive order later this week that will outline the government’s strategy for cryptocurrencies was added to the list of factors weighing down crypto prices. Data from Cointelegraph Markets Pro and TradingView shows that Bitcoin (BTC) bulls were thwarted in an attempt to regain support at $40,000 on Monday as revelations about the upcoming executive order and the ongoing conflict in Ukraine tanked the market and dropped BTC to a low of $37,155. BTC/USDT 1-day chart. Source: TradingView Here’s what several analysts in the market are saying about the outlook for BTC and whether or not crypto traders should prepare for an e...
Total exchange BTC inflows have been net negative since July ’21
Bitcoin inflows across all exchanges have been net negative since last July, but four major exchanges have been running contrary to this trend with nearly an equal amount of net positive inflows. There have been total net outflows of 46,000 BTC (worth around $1.8 billion at current prices) from all crypto exchanges since last July. Only Binance, Bittrex, Bitfinex, and FTX have seen net positive inflows of 207,000 Bitcoin (BTC), according to data from blockchain analytics firm Glassnode’s March 7 newsletter. Over the same time period, net outflows have totaled 253,000 BTC from all other exchanges tracked. FTX, Binance, Bittrex, and Bitfinex have seen net positive inflows of BTC since July, 2021 – Glassnode FTX and Huobi have experienced the most dramatic shift in their BTC holdings si...
Yield Guild Games Hits 20K Axie Infinity P2E Scholarship Milestone
The popular gaming guild YGG has reached a milestone in terms of new scholars for the Axie Infinity platform and various other play-to-earn games. Yield Guild Games reported 20,700 unique Axie Infinity scholars in February, an increase of 8,500% since the same month last year when there were just 241. The milestone marks a “new record in the play-to-earn space” said YGG in an announcement shared with Cointelegraph. The play-to-earn scholarships allow new players to borrow a team of Axie NFTs from the Guild. Their in-game earnings are then split between the player, the community manager, and the YGG DAO. YGG reported that in February, scholars farmed more than 26.4 million SLP, the native token for Axie Infinity. This figure represents a 57% increase from January’s farming figures. It added...
