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A major financial institution getting involved in cryptocurrencies is usually big news. With the prolonged US government shutdown hampering a number of long awaited crypto funds, large investment companies are seeking alternative ways to enter crypto markets. Fidelity Crypto Custody Coming According to Bloomberg Fidelity Investments is planning to launch its Bitcoin custody services in…
Holding onto and storing digital assets for clients has become one of the key criteria in offering crypto services, at least according to Goldman Sachs. The Wall Street banking giant said that it is not any closer to offering cryptocurrency products amid this year’s bear market according to Bloomberg. The bank’s head of digital asset…
The chief operating officer of global bitcoin payment service BitPay is not worried about the latest downward moves in the price of the largest cryptocurrency by market capitalization. Sonny Singh expects Bitcoin to surge towards the $15,000-$20,000 area over the next year as institutional incumbents launch blockchain-powered products. BitPay CEO Says Fidelity, Bakkt, Square, Blackrock,…
Bitcoin on Sunday has established another yearly low after extending its previous downside momentum. At press time, the BTC/USD pair is trading at 3823 on Coinbase after correcting from its intraday low at 3466. It marks a circa 45% loss just in November while contributing to an overall 82.5% loss since its manipulatively achieved all-time…
The cryptocurrency markets have shown an unprecedented level of weakness amidst its latest drop, with most altcoins trading down 90% or more from their highs, and Bitcoin falling to levels not seen since early 2017. There is now a consensus amongst industry analysts that Bitcoin has to fall even further in order for it to…
Following the cryptocurrency market’s foray down to fresh yearly lows, investors are becoming increasingly alert to news regarding upcoming institutional-aimed products, including that being offered by Bakkt. On the heels of Bakkt’s recent decision to delay their platform’s launch until late-January, 2019, the company released an update on their Twitter account informing the public about…
It goes without saying that Galaxy Digital, a digital asset-centric merchant bank, has been beaten and bruised in recent months. Months ago, to remain coherent with its appearance on the Toronto Stock Exchange, the startup was required to divulge its Q1 balance sheet, which wasn’t pretty, to put it lightly. However, the Galaxy’s top brass have…
Jackson Palmer, the founder of the cryptocurrency Dogecoin, has discussed what he calls the “re-centralization” of the cryptocurrency markets, and notably criticized the direction the industry is heading. Growing Shift Away from Decentralization in Cryptocurrency Industry In a recent opinion piece published in Diar, Palmer begins his Op-Ed, titled “The Institutionalization of Cryptocurrency is a…
The CEO of Revolut has claimed that large institutional clients, which are often cited as the drivers of the next crypto bull run, have shown very little interest in investing in assets like Bitcoin and Ethereum. Revolut CEO: Institutional Investors Show “No Interest” in Crypto While speaking at the Web Summit 2018 in Lisbon, Portugal this week,…
The president of Fidelity Digital Asset Services has spoken about the company’s plans in an interview, such as the decision not to launch an in-house exchange, how it intends to attract more institutional investors, and why it’s crypto offering is focused on custody and trade execution. Crypto Paired with More Traditional Financial Models In his…