Day: January 20, 2021

Fundstrat Global Advisors strategist David Grider predicts that the price of ethereum could rally to $10,500 per unit after the cryptocurrency set a new all-time high on Tuesday. The estimate implies a near 700% upside on the current ether price hanging above the $1,300 range. According to Grider, ether (ETH) – the second largest digital asset after bitcoin (BTC) – will continue to benefit from its relationship with decentralized finance (defi) applications, the majority of which are built on the Ethereum blockchain, and have seen massive growth in 2020. He…

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According to a recent report, the cryptocurrency custodian Xapo is getting ready to become a “fully-fledged” bank in the British Overseas Territory of Gibraltar. The region located at the southern tip of the Iberian Peninsula has also been extending “regulatory guidelines for digital asset exchanges,” according to a partner at the international law firm Isolas LLP. Just recently, the cryptocurrency custodian Xapo sent out a wave of emails that noted it would not serve U.S. customers going forward. “Due to a change in our global business strategy, Xapo, Inc. is…

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British investment management firm Ruffer has revealed that its bitcoin holdings now account for about 3% of its entire portfolio of approximately $29 billion. The firm believes that we are “at the foothills of a long trend of institutional adoption and financialization of bitcoin.” A Long Trend of Institutional Bitcoin Adoption Ruffer provided an update on the firm’s bitcoin investment this week in its Investment Manager’s Review for the period ending Dec. 31. The firm wrote: We gained our bitcoin exposure via the Ruffer Multi Strategies Fund and two proxy…

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PRESS RELEASE. As of today, YfDFI Finance is launching not one, not two, not three but four farming pools, locking up a huge chunk of its circulating supply. The team could not have achieved this without the continuous support from the community. Starting off 2021 the right way! “Our team has been working tirelessly throughout the holidays to live up to the community’s expectations. Internally, our mantra the past couple of months has been: ‘Underpromise and overdeliver’. With overwhelming support from our community, we have reached every single milestone on…

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Court documents show that the company, Tetragon Financial Group, has filed a lawsuit against Ripple after the firm was charged by the U.S. Securities and Exchange Commission. The court filing indicates that Tetragon and Ripple allegedly made an agreement, and the SEC case deeming XRP as an unregistered security should allow them to get funds back. Moreover, weeks after the SEC charges, former Ripple executive Jed McCaleb sold 28.6 million XRP. Billion-Dollar Asset Manager Sues Ripple Labs A recent court filing submitted to Delaware’s Chancery Court shows that Tetragon Financial…

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Janet Yellen, Joe Biden’s pick for the Treasury Secretary, has revealed her policy for cryptocurrencies, including bitcoin. She claims that cryptocurrencies are mainly used for illicit financing and their use needs to be curtailed. Janet Yellen Reveals Her Plans for Cryptocurrencies In the Senate hearing to consider Janet Yellen’s nomination as Secretary of the Treasury on Tuesday, Yellen was asked about cryptocurrencies. She is Joe Biden’s pick to lead the Treasury Department under his administration. The crypto question was asked by Senator Maggie Hassan (D-NH), who talked about “the importance…

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On January 19, the American hip-hop star and rapper DeAndre Cortez Way, otherwise known as “Soulja Boy,” asked his 5.2 million Twitter followers to tell him the best way to purchase crypto. Following the initial tweet, Soulja Boy continued to discuss cryptocurrencies for the rest of the day, and also asked people’s opinions about the rapper creating his own crypto. Another hip-hop artist is joining the cryptocurrency bandwagon after numerous rappers and musicians have been flocking toward the decentralized economy. DeAndre Cortez Way, known by his stage name “Soulja Boy,”…

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