The objective of setting up special purpose acquisition companies (SPACs) is to raise money through an initial public offering to buy another company. In…
By December 21, 2020, MicroStrategy purchased a total of 70,470 bitcoins with an overall purchase price of $1.125 billion. The buying spree occurred in…
Our updates on Ripple include that at the end of November 2020, the US tech firm Ripple Labs, Inc. sold its 33% stake in MoneyGram. After selling these shares, Ripple Labs will have 2.24 million shares or 3.1% of MoneyGram’s stakes. Including the additional warrant shares, the total stake…
Starting with France, more than 40 countries have allegedly proposed a state-backed digital currency (CBDC) to lead the era of a cashless economy. Unlike Bitcoin that is completely decentralized, CBDCs are centralized digital currencies and will be prone to central control brewing a lot of privacy concerns. A robust…
Although the United States doesn’t yet have a clear regulatory framework, The Commodity Futures Trading Commission (CFTC) has recently been clamping down on several crypto firms offering financial products. In early October, the CFTC charged crypto derivatives exchange BitMEX for illegally operating a derivatives exchange. Image Source: MarketWatch After…
Grayscale, the world’s largest crypto asset manager, recently gained approval from the United States Security and Exchange Commission (SEC) for Grayscale Ethereum Trust to become the first publicly quoted ETH investment product to go live. Image source: bitrazzi This was confirmed on the Grayscale official website: “Grayscale Investments®, the…
“Intelligent” US traders circumvent regulations, crypto exchanges require a smarter way to deal with such situations Prominent crypto exchanges have started to exit the US market due to unfavourable Crypto regulations Standardized regulations in the US are the only hope for crypto exchanges to serve the US traders The…
A stablecoin is a type of cryptocurrency that has relatively low market fluctuations. Stablecoins achieve stability by backing up each coin with a stable asset like USD dollar. In the highly volatile cryptocurrency market, stablecoins provide much-needed stability to investors. The significance of stablecoin became even more evident after…