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BitDigest March 4 · Issue #854

Mar 4, 2021
Author
Gregory Landegger
Gregory Landegger
  • Crypto prices inch downwards in overnight trading activity
  • Iranian think-tank recommends country use digital currencies
  • New York to pilot COVID-19 tracking on blockchain
BitDigest March 4 · Issue #854

Weekly Stock Update

BitDigest March 4 · Issue #854

BTCC Interest declines

BitDigest March 4 · Issue #854

Bloomberg is reporting that interest in Canadian Bitcoin ETF Purpose Bitcoin (CSE: BTCC.U) has declined since tracking began last month.

The Headlines

BitDigest March 4 · Issue #854

Iranian Think Tank Recommends Use of Digital Currencies

www.iranwire.com
The Iranian Presidential Center for Strategic Studies, a think-tank attached to Iranian President Rouhani’s office, has published a report recommending the county use digital currencies to generate income, increase employment and preventing foreign currency from leaving the country by reducing the need for people buy digital currencies.
BitDigest March 4 · Issue #854

SEC Defines Digital Assets in 2021 Examination Priorities

www.sec.gov
The Securities and Exchange Commission released their annual list of Examination Priorities stating their intention to monitor” market participants engaged with digital assets …[and] assess …whether investments are in the best interests of investors; portfolio management and trading practices; safety of client funds and assets; pricing and valuation; effectiveness of compliance programs and controls; and supervision of representatives’ outside business activities.
BitDigest March 4 · Issue #854

DEA Highlights Crypto Usage as Aid for Illicit Activities

www.dea.gov
📝The US Drug Enforcement Administration National Drug Threat Assessment Report found that last March’s crypto sell off caused a decline in vendors from dark web marketplaces due to the possibility that bitcoin could devalue while payments were held in escrow awaiting acceptance of delivery. They also report that illicit actors and money laundering organizations have turned to automated teller machines (ATMs) offering virtual currency services to aid in the movement of illicit bulk currency.
BitDigest March 4 · Issue #854

Governor Cuomo Announces Pilot Program Testing COVID-19 Tracking on Blockchain

www.governor.ny.gov
New York Governor Cuomo announced a pilot program to test a blockchain enabled tracking system to confirm an individual’s COVID-19 vaccination history or recent negative tests, the Excelsior Pass, at upcoming events at Madison Square Garden and Barclays Center
BitDigest March 4 · Issue #854

Former BitMex CEO Proposes to Surrender

www.bloomberg.com
Arthur Hayes, the former chief executive of BitMex, who was indited with violations of the US Secrecy Act “by willfully failing to establish, implement, and maintain an adequate anti-money laundering program” on the exchange has has proposed to surrender to US officials next month.
BitDigest March 4 · Issue #854

DA Davidson Issues Buy Rating on Coinbase

www.streetinsider.com
📈Financial services firm DA Davidson has issued a “buy” rating ahead of Coinbase’s direct listing with a target price of $195 calling the digital exchange the “standard bearer” for the industry.
BitDigest March 4 · Issue #854

Court Finds NVDA Did Not Mislead Investors with Crypto Sales

www.courtlistener.com
⚖️📈A California Court has ruled in favor of chip maker NVIDIA (NASDAQ: NVDA) declaring the company did not mislead investors by overstating demand for chips from a sudden increase by crypto miners in 2017 and 2018.
BitDigest March 4 · Issue #854

Ripple Pilots Private Ledger for CBDCs

www.ripple.com
Ripple announced plans to pilot a private version of the public, open-source XRP Ledger that provides Central Banks a secure, controlled and flexible solution for the issuance and management of digital currencies.
BitDigest March 4 · Issue #854

Huobi Launching Crypto Tracker Funds

www.huobitech.com
📈Huobi Tech, a Hong Kong traded Chinese manufacturing company controlled by the same group running Huobi Global’s digital asset exchange, announced plans to launch three virtual asset funds: BTC tracker fund, ETH tracker fund, and a multi-strategy virtual asset fund with a 10% allocation to virtual assets and 90% allocation to traditional assets such as equities and fixed income.
BitDigest March 4 · Issue #854

Ripple CEO to File Motion to Dismiss in SEC Battle

www.twitter.com
⚖️Ripple CEO Brad Garlinghouse tweeted that his attorneys have filed a letter indicating intent to file a Motion to Dismiss in response to the SEC’s amended complaint against him and the company.
BitDigest March 4 · Issue #854

Kings of Leon to Issue Album as NFTs

www.rollingstone.com
Music group the Kings of Leon will release their new album, titled When You See Yourself, in the form of a non-fungible token and plasns to offer additional tokens offering live show perks and exclusive audio visual art.
BitDigest March 4 · Issue #854

Hurun Publishes List of Blockchain Billionaires

www.hurun.net
The latest addition of the Hurun Global Rich List, a ranking of the wealthiest people in the world, includes a section on Blockchain Billionaires ranking 17 individuals with Coinbase’s Brian Armstrong holding the top stop with an estimated net worth of $11.5 billion. The report recognizes that the pseudonymous Satoshi Nakamoto should be the richest person in crypto with an estimated net worth toping $50 billion but did not include him “since his real identity is not known nor even if he is alive.”

Mergers & Acquisitions

BitDigest March 4 · Issue #854

Brave Acquires Search Engine

www.brave.com
Brave has acquired Tailcat, an open search engine which the crypto supported privacy browser plans to release as a non tracking alternative to Big Tech offerings. Users interested in testing Brave Search can sign up via the waitlist at brave.com/search/.

Market Data

BitDigest March 4 · Issue #854

78% of Institutional Investors Unlikely to Invest in Crypto

www.markets.businessinsider.com
A market survey of 3,400 institutional investors by JP Morgan found that 58% of investors believe crypto currencies are “here to stay” but surprisingly 78% of the respondents said it was “not likely” their firm will trade or invest in crypto products.

Exchange, Custody and Product News

BitDigest March 4 · Issue #854

Bitfinex Lauches Merchant Payment Platform

www.cityam.com
Bitfinex has launched Bitfinex Pay a new payments platform offering retail merchants a means of receiving contactless and borderless digital tokens such as Ethereum (ETH), Bitcoin (BTC), Lightning Network BTC (LN-BTC) and Tether tokens (USDt) on the Ethereum and/or Tron blockchains.

Thoughts on the Ecosystem

BitDigest March 4 · Issue #854

Jim Rogers Warns Many Digital Currencies Have Failed

www.markets.businessinsider.com
Investor Jim Rogers admits that he wishes he had bout bitcoin but warns that “many cryptocurrencies have already disappeared and gone to zero. We all hear about bitcoin. We don’t hear about the dozens that don’t exist anymore.“

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Crypto prices suffered steep declines over the weekend following news of Iran launching drone strikes at Israel. Bitcoin and Ethereum reached respective lows of $60.8k and $2.85k, while many altcoins saw drops of over 20%. Open interest (OI) across all coins on Friday was $48 billion, and after the rapid price declines, approximately 25% of that was wiped, with total OI of about $36 billion at the time of writing. $BTC...

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