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rippleAttempts to settle agreement with SEC
Ripple’s CEO Brad Gallinghouse said on the 6th that it has attempted to settle an agreement over the alleged violation of securities laws. Earlier last month, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Ripple, claiming that Ripple’s sale of $1.3 billion worth of unregistered securities, Ripple (XRP) to general investors and exchanges, is a violation of the securities laws.
Garlinghouse tweeted about five “top questions” about the SEC’s allegations, explaining that the case is ongoing and that the information that can be disclosed is limited. Currently, some exchanges have either stopped trading Ripple or delisted Ripple altogether.
Pension fund New portfolio
Grayscale announced that it will invest in other cryptocurrencies, including bitcoin (BTC), for money received through other investment products such as pension funds and donations as well as hedge funds.
“The rate at which institutions allocate money to these products is also increasing rapidly,” said Michael Jonnenshine, the new CEO of Grayscale. In fact, the size of the assets managed through these products amounts to $27.5 billion, or about 30 trillion won. (Grayscale, like CoinDesk, is a subsidiary of Digital Currency Group (DCG).)
‘Bitcoin rich’ increased
The number of addresses with more than 1,000 Bitcoins reached 2,334, a record high. This indicates that the’whale’ (the so-called’big hand’ that holds a large amount of bitcoin) is actively accumulating bitcoin and leading the price increase.
According to on-chain data site Glassnode, 2334 addresses are returning 30% higher than at the end of 2017, when Bitcoin last hit the highest price in a cryptocurrency bull market.
Coinbase acquires cryptocurrency transaction support company Rootfire
Routefire announced on the 7th (local time) that it will stop all services and join Coinbase through its official blog. The scale and conditions of the merger and acquisition were not disclosed.
Public offering?
Bakkt, a cryptocurrency exchange with the largest shareholder of InterContinental Exchange (ICE), is in discussions for a public offering through a merger with an Acquisition Purpose Company (SPAC), Bloomberg reported.
If successful, the value of the company to be listed through the merger will reach $2 billion. The merger deal could be announced next week as early as possible.
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market Trends
article Biden’s 3Trillion dollars Economic stimulus To Bitcoin Having meaning
According to reports, elect Joe Biden is considering a two-pronged stimulus package that includes a $2,000 check paid to each American and a $3 trillion tax and infrastructure spending plan. Many market analysts see it as just the beginning of the stimulus package to be introduced by the new US administration.
As expenditure increases, the inflation forecast also rises, and many insiders in the cryptocurrency industry believe that this will benefit the programmed money and bitcoin, which is relatively deflationary in inflationary conditions.
2020 4quarter review
The first quarter of 2020 was the market turmoil, the second quarter was the quarter of the bitcoin half-life, and the third quarter was the quarter of explosive growth in the stablecoin and DeFi sectors.
On the other hand, the fourth quarter can be assessed as the quarter when the institution finally jumped into bitcoin and Ethereum took its first step in the migration to the ambitious Proof of Stake (PoS) blockchain. Among institutional investors, the so-called FOMO (fear of missing out) phenomenon appeared that if I miss the opportunity now, it is only me.
The latest CoinDesk quarterly review comprehensively compares asset classes with large market caps and other crypto assets, looking at the performance, status, major events and factors of increasing value of Bitcoin and Ether (ETH) over the past three months. The report can be downloaded for free here.
· Translated by NewsPeppermint.
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