Digital Assets Report 71
- Jane Street & Crypto Hedge Fund Blocktower partner with Clearpool to offer institutions access to permissioned pools.
- Binance contributes $500 million to Twitter takeover.
- Bitcoin drops to low last seen in July 2021 as Crypto market tumbles.
- Argentinian Central Bank prohibits institutions from offering clients digital assets services.
Business
Jane Street Dives Into DeFi With $25M USDC Loan
The Wall Street trading firm made its first DeFi investment last month, backing decentralized lending protocol Bastion.
Global private bank LGT opens Bitcoin and Ether trading
Managing over $292 billion of assets, LGT Bank has debuted digital asset custody and trading services in cooperation with Swiss cryptocurrency bank Seba.
Luna Foundation Guard Acquires $1.5B in Bitcoin to Reinforce Stablecoin Reserves
The purchase brings LFG’s holdings to more than 80,000 bitcoins, or nearly $3 billion.
SEC Approves Valkyrie’s Bitcoin Futures ETF
Valkyrie’s XBTO Bitcoin Futures Fund is the latest ETF to have secured approval from the SEC.
Binance, Sequoia Among Investors Backing Musk’s Takeover of Twitter
The exchange was among several firms to commit funds for the billionaire’s takeover of Twitter.
CoinShares’ Preliminary Q1 Earnings Slump 45% From Year Ago
The stagnant crypto market has hit the digital asset manager.
New Integration Allows Telegram Users To Trade, Send Bitcoin (BTC) and Toncoin (TON) - The Daily Hodl
Popular encrypted messaging app Telegram has added a new feature that allows users to send and receive crypto assets on the platform.
Markets
Crypto Charts 65
BTC Expect price to drop lower from current $33′708 level before buying back on an hourly close above $35′000 ETH Expect price to retrace to $2′636 before dropping below $2′400 where we would look to buy, or to buy on an hourly close above $2′700 Bitcoin Last time we mentioned:
Market Intelligence 23
BTC’s weekly range tightens further with price remaining largely unchanged week over week Volatility & yields in derivatives markets have continued to decline Institutions found value at current price levels and have accumulated heavily in recent weeks Long-term BTC price model suggests that a b…
Bitcoin price target now $29K, trader warns after Terra weathers $285M ‘FUD’ attack
BTC price action not “fueled” by Terra events, says trader as Bitcoin nears $34,000.
ETH Network Q1 Revenue Grew 46% to $2.4 Billion, Token Inflation Rate Drops to 0.51% – Markets and Prices Bitcoin News
About 87% or $2.1 billion of this revenue was removed from the ETH’s circulating supply through the burning mechanism.
This bear market no one is questioning whether Bitcoin will exist anymore or if it’s a scam, but rather the lowest price point it will go so that they can accumulate as much of it as possible
— Will Clemente (@WClementeIII) May 1, 2022
An all time high 64.81% of #bitcoin have not moved in over one years time.
— Dylan LeClair 🟠 (@DylanLeClair_) May 2, 2022
In absolute terms, this equates to 12.33M BTC, currently worth $474 billion in value.
A larger proportion of circulating supply is held with strong conviction each subsequent cycle. pic.twitter.com/jeKYPvS34A
Regulations
EU commissioner calls for global coordination on crypto regulation
The European Commission’s Mairead McGuinness said the EU and United States could help lead the world in a regulatory approach for cryptocurrencies.
Argentina Slams Brake On Crypto, Banning Purchases Through Banks
Argentina’s central bank dealt cryptocurrencies a blow Thursday, prohibiting financial institutions in the South American country from offering clients any operations involving unregulated digital assets.
SEC Will Nearly Double Its Crypto Asset and Cyber Unit in New Hiring Spree - The Daily Hodl
The U.S. Securities and Exchange Commission (SEC) is hiring 20 employees for the newly renamed Crypto Assets and Cyber Unit, formerly known as the Cyber Unit.
Crypto Exchange Binance Gets French Regulatory Nod in European Push
California Governor Signs Executive Order to Spur Crypto Industry in the State
The order prompts the creation of a regulatory framework for blockchain technologies and crypto financial assets.
Dubai Regulator Will Open Offices in The Sandbox Metaverse
One of Dubai’s regulators has just purchased its first piece of land in The Sandbox metaverse with the aim to open virtual offices.
Belgium’s FSMA Mandates Registration of Crypto Firms
Belgium’s Financial Services and Markets Authority (FSMA) has kicked off a set of new rules on Sunday to better regulate the cryptocurrency industry.
Opinions
Paul Tudor Jones Bets on Bitcoin v. Stocks and Bonds Due to Massive New Rate Hike
Paul Tudor Jones says a lot of intellectual capital is flowing into crypto and that bonds and stocks are the least reliable assets now
Bitcoin Is ‘A Liquid Alternative To Cash’ Says Elon Musk’s Tesla
In a recent SEC filing, Tesla explained bitcoin’s liquidity use case while outlining its “long-term potential.”
Readings / Podcasts
Crypto Crime Trends for 2022: Illicit Transaction Activity Reaches All-Time High in Value, All-Time Low in Share of All Cryptocurrency Activity - Chainalysis
This blog is a preview of our 2022 Crypto Crime Report. Sign up here to download your copy now! Cryptocurrency-based crime hit a new all-time high in 2021,
Crypto Trading Report 2022
The goal of this report is to shed light on the global landscape of trading execution venues in the area of digital assets and provide insights into the current trading rationales of institutional market participants operating in that space. The report includes an analysis of the advantages and draw…