The world's largest crypto asset management company, Grayscale, has just announced almost 30% growth in its digital assets under management in the last week. This and more news in this handy daily summary so you are always informed with those most recent events that happen within the crypto world.
📍Digital assets under management Grayscale they grew by more than 3 billion dollars in just over a week. As announced by the company, the largest holdings are in Bitcoin, the leading asset in digital markets, while the rest remain in holdings in Ethereum, Litecoin, Bitcoin Cash, Ethereum Classic, and other cryptocurrencies with slightly less significant shares, such as XRP (Ripple) y Zcash.
The company reported that its Asset Under Management grew from $13 billion to $16,4 billion this week, being Grayscale Bitcoin Trust, the company's Bitcoin investment fund, which has the majority of the funds, with 14,1 billion.
📍According to data from cryptoquant, it seems that the appetite for buying bitcoins from institutional investors is making the exchanges see great departures from their platforms. Data from this provider shows that Coinbase, one of the exchanges cryptocurrencies, largest by trading volume, recorded an outflow of more than $279 million in the last week, an amount equivalent to about 12.006 BTC.
📍Bitcoin's dominance in digital markets is growing. According to CoinMarketCap, the cryptocurrency has a 68,7% market share, one of the highest levels not seen since September of last year.
📍Crypto Square, Square's subsidiary for grants to projects Bitcoin, just announced that it will fund a project called Photon, powered by Advancing Bitcoin developer, Leon Johnson.
Photon is a project in development aimed at enabling Wallets and Bitcoin wallets are more intuitive and easier to use for users, improving their user experience and guaranteeing their security when making transactions. According to Square Crypto's announcement on Twitter, Johnson is committed to presenting a prototype of his project, to show how Photon works within applications.
📍A report Fortune reveals that Paypal, the electronic payments giant that recently joined the cryptocurrency universe, will no longer acquire BitGo, as was rumored in the past few days in the crypto community. The rumor emerged from a report filed by Bloomberg, which cited that the payments company had intentions to buy several crypto companies, including BitGo.
Now, the Fortune report reveals that Paypal conversions with BitGo failed, because the company is not willing to accept a “small exit”, as BitGo CEO reported, Mike Belshe, while noting that BitGo has been in “conversations with everyone”, to negotiate a possible sale. Fortune also indicated that Paypal's plans to acquire a crypto company remain on track, and that it is looking at other options in the industry.
📍Meanwhile, in the United States, the Presidential Advisory Group insists in implementing existing regulations in financial systems to stablecoin markets (stablecoins), citing that these are widely used by merchants in the United States to acquire digital assets, due to their speed in executing transactions and their low volatility compared to other assets.
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