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Home Technology Crytpocurrency

Crypto Paradigm Enters Citadel, JPMorgan Clients On Bitcoin Price + More News – Cryptonews

crypto-paradigm-enters-citadel,-jpmorgan-clients-on-bitcoin-price-+-more-news-–-cryptonews
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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.

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Investments news

  • Global market maker Citadel Securities announced that venture capital firm Sequoia and crypto-focused investor Paradigm have made a USD 1.15bn minority investment in the firm. Citadel Securities provides both institutional and retail investors with the liquidity they need to execute transactions across a broad array of equity and fixed income products, they said.
  • Only 5% of clients polled by JPMorgan Chase & Co. said they see bitcoin (BTC) reaching USD 100,000 before the end of 2022, per Bloomberg. More than 40%, though, saw it above USD 60,000, where it was roughly two months ago before it commenced its latest stretch of declines.
  • Investment management firm Fidelity Investments Canada announced plans to add a small allocation to Fidelity Advantage Bitcoin ETF within Fidelity All-in-One Growth ETF and Fidelity All-in-One Balanced ETF and corresponding mutual fund versions, bringing the risk rating from “low to medium” to “medium”. The decision was made for its diversification benefits with the potential to improve risk-adjusted returns going forward, they added.
  • Player-centric cross-chain non-fungible token (NFT) trading platform Lootex raised USD 9m to work on its planned metaverse marketplace, in a round led by Spartan Capital, Infinity Ventures Crypto, LD Capital, and Akatsuki, per VentureBeat. When completed, blockchain metaverse marketplace would potentially allow gamers to trade and buy items across multiple blockchains.

Mining news

  • Luxor Technology Corporation said it has launched a new service for buying and selling Bitcoin mining machines (ASICs) – the Luxor ASIC Trading Desk. Through its new business line, Luxor will purchase and sell specialized Bitcoin mining hardware on behalf of the Luxor team, miners, and investors.

Regulation news

  • The Reserve Bank of India (RBI) created a new department to identify challenges and opportunities in financial technology, particularly around cryptocurrency, according to Quartz India. The new department has been operational since January 4.

Tax news

  • Thai Prime Minister Prayut Chan-o-cha instructed the revenue department to brainstorm the issue for calculating taxes on crypto trades and provide clarification for investors and the public, per the Bangkok Post. The department has already been in discussion with the Bank of Thailand, the Securities and Exchange Commission, and the Stock Exchange of Thailand.

Legal news

  • The US Securities and Exchange Commission (SEC) alleged that blockchain-based trading platform tZERO violated federal disclosure rules, fining the company USD 800,000 and issuing a cease-and-desist as part of a settlement with the firm.
  • Celebrity Kim Kardashian, boxer Floyd Mayweather, and former NBA star Paul Pierce are being sued by an investor who alleges the trio colluded with Ethereum Max (EMAX) co-founders Steve Gentile and Giovanni Perone to pump the price of the token and then dump them, leaving average investors holding the (mostly worthless) bag. Ethereum Max peaked at a price of USD 0.000000597636 on May 31, 2021, before falling by more than 80% in 11 days.

Adoption news

  • Andre Iguodala, three-time NBA champion and professional basketball player for the Golden State Warriors, announced that he would be taking a portion of his estimated USD 2.65m annual salary in BTC.

Exchanges news

  • BitMEX appointed Ivo Sauter as the Chief Executive Officer of BitMEX Link, a Switzerland-based business line that offers 24/7 crypto brokerage service and products. One of Sauter’s primary aims will be to expand the talent pool and build a reputable team of professionals in Switzerland.
  • Binance announced several new appointments to strengthen their position in the Commonwealth of Independent States (CIS), Russia, and Ukraine. These are Olga Goncharova, who will hold the position of GR Director in Russia, and the CIS, Vladimir Smerkis, who has been appointed to the position of Binance Director in Russia, while in Ukraine, the post of general manager will be taken by Kirill Khomyakov.
  • Blockchain interoperability protocol Komodo (KMD) said it will introduce 13 protocols in the next version of AtomicDEX, offering trading support, wallet support, and multi-way bridge.

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