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2020 was the year of the crypto industry without a shadow of doubt. Bitcoin rose exponentially, posting over 300 percent in gains throughout the year. Market activity has also risen significantly, showing that the crypto industry is no longer just a fad that people call on when they’re trying to make themselves feel better.Institutional Action The legitimacy of the crypto market has been helped significantly by institutional investors. These are essentially high-net-worth individuals and large companies that provide…

In an aggressive push to expanding its business and establishing a strong footing in the crypto space, Japanese financial giant SBI Holdings is seeking to form cryptocurrency joint ventures with some of the top foreign financial firms. SBI Holdings has, as such been an advocate of crypto developments and is also a close partner with the San Francisco-based blockchain firm Ripple.Speaking to Reuters, SBI Holdings founder Yoshitaka Kitao said that the development comes as since cryptocurrencies like Bitcoin (BTC) and…

One of the world’s biggest cryptocurrency payment service providers BitPay is determined to push cryptocurrency adoption in the European continent. BitPay has recently collaborated with Simplex, an on/offramp market leader that would allow European investors to trade crypto seamlessly directly from the BitPay wallet and without any credit or debit card fees.However, this waive-off of the crypto trading fess is scheduled for a limited time for up to 45 days. Furthermore, this limited-time promotion is available for top…

During the crypto market crash earlier on Tuesday, February 23, Ethereum (ETH) price tanked all the way to $1450 levels. ETH has recovered since then and is now back above $1600 levels. At press time, ETH is trading at a price of $1618 with a market cap of $185 billion.It turns out that on its way to recovery, the Grayscale Ethereum Trust (ETHE) added an additional 10,000 ETH coins to its kitty in the last 24-hours, as per data on Bybt. Thus, just like Bitcoin (BTC), institutional inflows into Ethereum continue as big…

Coinbase, one of the largest crypto exchanges is going public on Nasdaq via direct listing after months of speculations over its public debut post its announcement in December.*COINBASE FILES TO GO PUBLIC ON NASDAQ VIA DIRECT LISTING — zerohedge (@zerohedge) February 25, 2021The crypto exchange in its S-1 filing with the SEC revealed, $3.4 billion in total revenue until 2020.  largely from transaction fees (96% of net revenue).  net income of $322.3 million in 2020, a net loss of $30.4…

JP Morgan COO Daniel Pinto during a recent interview with CNBC said that they are open to offering bitcoin trading via their platform once the client demand soars. Pinto’s comments came in the wake of BNY Mellon, America’s oldest bank announcing the start of bitcoin service citing growing clients demand.“If over time an asset class develops that is going to be used by different asset managers and investors, we will have to be involved. The demand isn’t there yet, but I’m sure it will be at some point.”JP…

Binance has temporarily suspended Ethereum and ERC-20 withdrawals citing a network congestion issue behind the decision. Ethereum network has been reeling with scalability and rising gas fee issues despite its market price reaching new all-time-highs. The scalability issues have made most of the defi protocols nearly non-usable owing to the rising gas fee and network congestion.Ethereum’s issues have worked in Binance’s favor as its native chain Binance Smart Chain (BSC) has become the primary choice of defi…

The Bitcoin frenzy seems to have caught up with most of the mainstream publically traded companies, as now Uber CEO Dara Khoswshahi in a recent interview with CNBC said that they are seriously looking into Bitcoin and cryptocurrency as a form of payment on its platform. Khoswshahi during the interview said that they are looking into accepting crypto just like any other form of payment and not just as a part of a promotion."Just like we accept all kinds of local currency we are going to look at cryptocurrency and or …

Over a month ago, we correctly predicted today's "shock" announcement by Tesla, in which Elon Musk's company decided to pivot once again, this time into the word of cryptocurrencies, by purchasing $1.5 billion in bitcoin (an amount which will give it tremendous leeway in non-GAAP financial when accounting for XBT Mark-to-Market moves, giving it even more buffer to beat estimates).Discussing the major US companies which we expected would announce shifts away from dollar-based cash into bitcoin, we said "one such…

Tesla Inc, the electric car maker has become the latest institution to add Bitcoin to their portfolio as the company has filed with the SEC to buy $1.5 billion in Bitcoin.The Bitcoin purchase would also make Tesla the biggest Bitcoin buyer after MicroStrategy who has also bought more than $1.5 billion in total bitcoin purchase. There were rumors about Tesla investing in Bitcoin after the CEO of the firm Elon Musk changed his Twitter bio to Bitcoin.We are moments away from one of the biggest companies in the…

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