BitDigest January 25 · Issue #827

Jan 25, 2021
  • Crypto pricing inching back up as ethereum trades in all-time-high range
  • Bank of Singapore sees bitcoin as threat to gold
  • Chinese mayors announce support for DCEP trials
BitDigest January 25 · Issue #827

The Headlines

BitDigest January 25 · Issue #827

Cryptocurrencies Wont Replace Fiat But Could Replace Gold

www.thenationalnews.com
The Bank of Singapore believes that privately-issued digital currencies are unlikely to replace government-issued fiat currencies as a medium of exchange, however cryptocurrencies could replace gold as an electronic store of value once key hurdles such as trust, volatility, regulatory acceptance and reputational risks are overcome
BitDigest January 25 · Issue #827

Leading Mayors Offer Support to DCEP

www.globaltimes.cn
The mayors of Beijing, Shanghai and Shenzhen announced their support to promote the application of the country’s digital currency electronic payment (DCEP) program.
BitDigest January 25 · Issue #827

Panama Reviewing Crypto Regulations

www.news.bitcoin.com
Lawmakers in Panama are reviewing a draft bill that seeks to regulate digital currencies across the Central American nation and promote growth,
BitDigest January 25 · Issue #827

Bahrain Grants CoinMENA Crypto License

www.zawya.com
The central bank of Bahrain has approved a ‘Crypto Asset Services Company License’ for domestically based CoinMENA to operate as a regulate digital currency exchange and onshore platform.
BitDigest January 25 · Issue #827

DCEP Lottery Expands to Chengdu

www.theblockcrypto.com
Chengdu, the capital of southwestern China’s Sichuan province, is the latest area to offer its citizens 30 million digital yuan in free money through a lottery as part of China’s ongoing DCEP pilot.
BitDigest January 25 · Issue #827

Foundry Finances New Equipment Order for Hut 8

www.hut8mining.com
📈 Canadian crypto miner Hut 8 (TSX: HUT) has finalized an equipment financing a $11.8 million loan with Foundry Digital, a subsidiary of Digital Currency Group, to purchase 5,400 mining units from Whatsminer.
BitDigest January 25 · Issue #827

SGX and Temasek Form Digital Assets Venture Fund

www.reuters.com
Singapore sovereign investment fund Temasek Holdings is joining with Singapore Exchange (SGX) to start a digital assets venture that will focus on capital market products, funds and sustainable finance.
BitDigest January 25 · Issue #827

Coinbase Looking to to Offer Secondary Market for Shares

www.theblockcrypto.com
Reports suggest that Coinbase is looking to launch a secondary market for its current investors on Nasdaq’s Private Market ahead of its upcoming IPO.
BitDigest January 25 · Issue #827

Valkyrie Files Paperwork for Bitcoin BTC

www.sec.gov
📈 Valkyrie Digital Assets has filed an application with the Securities and Exchange Commission for a bitcoin exchange traded fund.
BitDigest January 25 · Issue #827

Galaxy Offering Ethereum Funds

www.mailchi.mp
Galaxy Digital (TSX: GLXY) announced that the digital asset manager is introducing a new group of offerings allowing clients to invest in Ethereum: Galaxy Ethereum Fund, Galaxy Institutional Ethereum Fund (Onshore), and Galaxy Institutional Ethereum Fund (Offshore).
BitDigest January 25 · Issue #827

Davos to Discuss Digital Currencies

www.weforum.org
This year’s virtual World Economic Forum meetings in Davos will include its first official discussion on digital currencies at noon (EST) today. The session titled ‘Resetting Digital Currencies’ is open to the public online.

Market Data

BitDigest January 25 · Issue #827

Coinbase Expands to Over 43 million Users

www.coinbase.com
Coinbase has updated the stats on its ‘About Coinbase’ page to announce that it has over 43 million verified users and $90 billion in assets on its platform.

Thoughts on the Ecosystem

BitDigest January 25 · Issue #827

Cramer Tells Winning Powerball Ticket Holder to Invest in Bitcoin

www.twitter.com
📺 🐦CNBC host Jim Cramer said that if he won this weekend’s Powerball lottery he would invest 5% of his winning in bitcoin, but warned the winning ticket holder not to “buy it all at once” due to bitcoin price volatility.

Reports you may have missed

Crypto markets are declining following news that most of the SEC’s lawsuit against Coinbase will proceed (more below). BTC (-1.27%) reached intraday highs of $71.8k before declining to $69k after the news. Rumors have circulated that Morgan Stanley and PNC will soon approve access to Bitcoin ETFs on their wealth management platforms. Together, Morgan Stanley and PNC hold over $1.5 trillion in client assets and likely will provide a tailwind...

Following the worst week of ETF flows since inception, BTC (+3.89%) is rebounding, rising to $69.6k, and ETH (+4.09%) has reclaimed the $3,500 mark. Last week’s outflows totaled $888 million, representing about a fifth of the inflows seen in the previous two weeks. ONDO, an institutional RWA protocol, is one of the top performers today, rising 7.61% as investors remain optimistic about the future of tokenized assets and their ability...

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