Goldman Sachs, the U.S. banking giant informed its staff that the organization will kick off its own cryptocurrency trading team, according to an internal memo. The memo stated that,
“I am pleased to announce the formation of the firm’s cryptocurrency trading team, which will be our centralized desk for managing cryptocurrency risk for our clients. The Crypto trading team will be a part of Global Currencies and Emerging Markets (GCEM), reporting to me, within the firm’s Digital Assets effort led by Mathew McDermott.”
Moving forward with more bullish news during the course of last week trading sessions, Gary Gensler, the…
Inflows of cash into the crypto market has been on the rampage as more institutional demand for cryptographic money is on a geosmetric progression.
MercadoLibre, an Argentina e-commerce giant that is listed on NASDAQ bought bitcoin as part of its treasury.
MercadoLibre disclosed the following information,
“As part of our treasury strategy this quarter we purchased $7.8 million in bitcoin, a digital asset that we are disclosing within our indefinite-lived intangible assets.”
On this note, this was one of the major reason why Michael Saylor, the CEO of Micro Strategy said that,
“I think that Bitcoin is going to be…
NYDIG partnered with Fintech giant Fidelity National Information Services to enable U.S. banks to offer her customer to be able to make bitcoin transactions. From official press release, NYDIG said that,
“What we’re doing is making it simple for American and corporations to be able to buy bitcoin through their existing bank relationships,” Sells said. “If I’m using my mobile application to do all of my banking, now I have the ability to buy, sell and hold bitcoin.”
This is another step forward for bitcoin adoption as the global usage illuminate round the world and institutional demand keep pushing bitcoin…
Yesterday, Nexon, a South Korean-Japanese video game publisher made a public statement that the company has made a purchase of 1,717 bitcoins at an average price of around $58,226.
The total worth of bitcoin was valued at $100 million at the time of purchase .
Nexon joined the lites of Square, Tesla and Micro Strategy as a cooperate entity investing into bitcoin .
From a fundamental perspective, as demand rises , price increases due to fear of missing out in the crypto industry as many anticipated that the crypto industry is still on the its early stage. This institutional demand…
From sources, Iran’s Central Bank now allowed the Country’s Financial Institutions to use Cryptocurrency, derived from Sanctioned miners, to pay for imports. This will enable the local exchanges in IRAN to process payment for goods and services within the country and also to have clear and transparent transactions with the countries allies to bycut the U.S. Economic Sanctions.
Most Countries now leverage on the Chinese government statement that cryptocurrency can be used as vehicle for investment, this is green light for adoption of cryptocurrency.
In the past 24 hours, the crypto market volume spiked to record high of $216,545,775,090 as…
In 2017, JPMorgan CEO Jamie Dimon called bitcoin a dangerous fraud, threatening his employee to be “fired in a second” if any trader who touched the stuff. “If you’re stupid enough to buy it, you’ll pay the price for it one day,”
After making this incenting statement that tumbled the crypto industry, the financial institution now welcome Bitcoin open heartedly.
JPMorgan Chase is preparing to offer an actively managed Bitcoin fund to certain clients, becoming the latest, largest financial institutions in the lites of PayPal.
From a fundamental perspective, this fuel Bitcoin and Altcoins to recover quickly from the last…
Last week, the crypto market experienced its worst week of trading after it rallied to all time high of $2.29 trillion market capitalization.
Thursday, 22nd April, the United State president Joe Biden administration was set consider raising tax on capital gains to 39.6% for those earning more than $1 million a year.
From a fundamental outlook, this ignited tension on the stock and crypto market as investors winded down their capital exposure for stable crypto asset such as USDT & QC. The bearish pressure on the crypto market caused bitcoin and altcoin to be in red sea.
The total market…
Over $1.55 billion worth in Bitcoin options are set to expire on 23rd of April.
From several option contract expiration in trading financial instrument, it has been a norm that when the derivatives gets expired, the market do experience some sort of turbulence prior to the set day .
Risk appetite for investment went lower as the volume dropped due to uncertainty of unpredicted volatility during scheduled day.
Bitcoin dominance plummeted to 50% for the first time which was last seen on the 4th of August 2018 during the bear market.
The total crypto market capitalization plunged to a low…
The PayPal-owned platform Venmo now allows people to buy, hold and sell four leading cryptocurrencies via its mobile app, starting yesterday. The app will support Bitcoin, Ethereum, Litecoin and Bitcoin Cash.
Darrell Esch, senior vice president and general manager of Venmo, stated that,
“No matter where you are in your cryptocurrency journey, crypto on Venmo will help our community to learn and explore cryptocurrencies on a trusted platform and directly in the app they know and love. …
TIME Magazine, a global media brand that reaches a combined audience of more than 100 million around the world now accepts Bitcoin and other cryptocurrencies for digital subscriptions.
This announcement was published in the official website of the firm.
From a fundamental perspective, digital asset will gain more public awareness that will enable mass adoption on the mainstream. This news brought lots of relaxation to the crypto market after last week’s sell-off.
DOGECOIN took the bull by the horn to lead the recovery of the crypto market from the dip. The crypto market capitalization rose to an intraday high of…