Tag Archives: United States

This week was tough across the board, not just in the cryptocurrency market. It was marked by a serious correlation between Bitcoin and the S&P 500, as well as the entire legacy market, in general.As CryptoPotato reported, the abovementioned correlation reached a 5-month high. While this seems to be bearish in the short term, given that the stock market slumped following government bond yield that gave the market a jolt, there’s also a bullish argument to be made.Last weekend, the US...

Digital asset trust company, BitGo has added another feather to its cap. The company announced today that it has received a Trust Charter that will enable it to operate as an independent qualified custodian in the United States’ commercial hub, New York. The license was issued by the New York State Department of Financial Services.Go, BitGoCalifornia-based digital asset solutions provider, BitGo has expanded its horizon. It will now render cryptocurrency custodial services to New York-based...

Yet another attempt for a US-approved Bitcoin ETF is on the horizon coming from the Chicago Board Options Exchange (Cboe). The organization’s filing with the SEC aims to build on a previous S-1 filing initiated by VanEck. CryptoPotato reported in late 2020 that the US investment giant with about $50 billion in AUM, VanEck, has filed for its latest S-1 form with the SEC to establish a Bitcoin ETF called The VanEck Bitcoin Trust.  The company’s application indicated that the ETF’s shares would...

This past weekend, the US House of Representatives passed President Biden’s $1.9 trillion stimulus bill, sending the piece of legislation to the Senate for a vote.Some of the notable parts of the bill include increased funding for vaccine distribution and schools, direct funding to state and local governments, and $1,400 checks to Americans making less than $75,000 annually. While this aid is desperately needed by the American people, it brings up larger points about the direction the...

The veteran US-based cryptocurrency exchange Kraken is reportedly in talks to raise more than $5 billion and double its valuation to over $10 billion. Some of the giant names potentially participating in the latest funding round include Fidelity, General Atlantic, and Tribe Capital.Kraken to Increase its Valuation to $10B?Based in San Francisco, California, Kraken is among the oldest cryptocurrency exchange with nearly ten years of experience. The company could be on its way to more than...

GameStop has undoubtedly become the most widely discussed company in 2021 following the Wall Street Bets fiasco that catapulted its price to all-time highs far beyond the wildest imaginations.The action on the stock had since cooled down a bit as WSB lost some steam, but in the past few days, it’s on again as the price surged over 110%.GME Stock Price Soars 110%The price for GameStop shares has skyrocketed once again, weeks after the tumultuous fiasco with Wall Street Bets.Upon yesterday’s...

Electronic payment processing company Square has been getting heavily involved with Bitcoin and has quietly tripled its equity.On its Fourth Quarter and Full Year 2020 Results announcement this Thursday, the company owned by Jack Dorsey – who is also the CEO of Twitter – revealed that after its initial Bitcoin purchase, it kept on buying Bitcoins until it had 3,318 more BTC for a total of $170 million.The company does not disclose whether it was all in one transaction. Still, it is most...

Janet Yellen, the recently-appointed Secretary of the US Treasury, doubled-down on her belief that BTC is frequently used in illicit transactions, while it fails as an efficient form of payment.Interestingly, her comments came as the price of the asset slumped by more than $11,000 in a day to below $48,000.Yellen On Crypto And BTC’s InefficiencyWhile speaking at the DealBook DC Policy Project, an event moderated by the New York Times, Yellen commented on the steep road the US has to face in...

Mark Cuban, a famous venture capitalist, and owner of the Dallas Mavericks, made comments on Twitter regarding the Gamestop stock situation, along with some of the inherent problems that lie within the New York Stock Exchange. In the thread, the billionaire claims that a blockchain system could solve many of the issues that the stock market faces as it enters the 21st century.“What do you mean by ‘the markets aren’t open?’”One of the largest differences between trading cryptocurrencies and...

The world’s largest asset manager, BlackRock, is looking into Bitcoin. This was confirmed by the managing director of the company, Rick Rieder, today.Rick Rieder, the managing director of BlackRock, the world’s largest asset manager, confirmed that the company is looking into Bitcoin. “We’ve started to dabble a bit into it,” he said, refusing to put a target allocation the company has.In the interview with CNBC’s SquawkBox, Rieder did say that diversifying one’s portfolio in the current...