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BitDigest April 29 · Issue #891

Apr 29, 2021
Author
Gregory Landegger
Gregory Landegger
  • ETH hits another high
  • Powell wants to make sure US Gets CBDC Right
  • New German law could provide tail winds to crypto investments
BitDigest April 29 · Issue #891

The Weekly Stock Update will be published tomorrow. Too many articles this morning and I fell behind.

The Headlines

BitDigest April 29 · Issue #891

Powell Wants to Get CBDC Right

www.reuters.com
📺Fed Chair Jerome Powell addressed central bank digital currencies during his Federal Open Market Committee press conference saying he believes the US has an “obligation to understand the technology and policy issues” related to central bank digital currencies while adding that it is “far more important to get it right than to do it fast” and he is “less concerned that another country would have a digital currency” before the US.
BitDigest April 29 · Issue #891

Crypto-Assets Could See Major Investments from Germany

www.decrypt.co
Germany has passed new legislation allowing Spezialfonds, institutional investment funds, with $1.8 trillion in assets to allocate up to 20% into crypto-assets.
BitDigest April 29 · Issue #891

Nigeria Issues Warning to Crypto Investors

www.africa.businessinsider.com
Nigeria’s Economic and Financial Crimes Commission has issued a public warning on the risks associated with cryptocurrency investments defining it as a “high-risk activity as the terrain is largely un-regulated and prone to fraud.”
BitDigest April 29 · Issue #891

Bitcoin Community Coming to the Grenadines

www.euronews.com
The island of Bequia in the Caribbean nation of Saint Vincent and the Grenadine will allow bitcoin to be used as a medium of exchange at a new luxury home development in an effort to overcome the derisking by larger banks who have eliminated banking services from small island-based community banks.
BitDigest April 29 · Issue #891

Ransomware Take Force Targeting Anonymity of Crypto Transactions

www.reuters.com
The Department of Justice has developed a ‘Ransomware Task Force’ including representatives from the FBI, US Secret Service and unnamed tech and securities companies to combat the increased use of digital currencies by criminal actors and is targeting the anonymity of cryptocurrency transactions.
BitDigest April 29 · Issue #891

Beijing Wants to Know How Much Energy Crypto Miners are Using

www.reuters.com
Authorities in Beijing have sent an ‘emergency notice’ to data center operators requesting information on the amount of energy consumed by any facility involved in cryptocurrency mining.
BitDigest April 29 · Issue #891

BaFin Investigating Binance Stock-Tokens

www.coindesk.com
Germany’s financial market’s watchdog BaFin is investigating Binance’s issuance of stock-tokens claiming the new offerings for Tesla, Coinbase could be in violation of German security laws. 🅱️I have been actively looking at this offering and it should be noted that the shares are offered under the umbrella of a third-party regulated broker dealer – a BaFin licensed broker dealer – and Binance is not the actual counter-party to the trades. In fact, investors in the stock-tokens need to be onboarded to the third-party’s platform before trading.
BitDigest April 29 · Issue #891

SEC Delays Decisions on VanEck BTC Trust

www.sec.gov
📈The SEC has delayed a decision on VanEck’s proposed bitcoin ETF, pushing its time line back to June 17th.
BitDigest April 29 · Issue #891

CAN Received $93 Million Order

www.globenewswire.com
📈Canaan (NASDAQ: CAN) has received a long-term partnership order from Genesis Digital Assets (no relationship to DCG subsidiary Genesis Trading) for new mining rigs valued at up to $93.6 million.
BitDigest April 29 · Issue #891

Bitcoin Futures Drive CME Returns

www.reuters.com
📈Future exchange operator CME Group (NASDAQ: CME) reported that bitcoin future activity rose 43%, to a record average daily volume of 13,545 contracts as the cryptocurrency’s price surged above $50,000 during the most recent quarter ending March 31st.
BitDigest April 29 · Issue #891

SBI Doubles Crypto Profits Over Past Year

www.cointelegraph.com
📈Japan’s SBI Group (OTCMKTS: SBHGF) reported its pre-tax crypto-related profits jumped 112% during the past fiscal year reaching ¥18.9 billion ($174 million).
BitDigest April 29 · Issue #891

Osprey Launching Polkadot Trust

www.streetinsider.com
Osprey Funds\, the manager of the Osprey Bitcoin Trust (OTCQX: OBTC), is launching the Osprey Polkadot Trust the world’s first public offering targeting the Polkadot network and its native token DOT.
BitDigest April 29 · Issue #891

Wealthfront to Add Digital Currencies

www.reuters.com
US digital wealth manager Wealthfront plans to start allowing clients to invest in digital assets later this year.
BitDigest April 29 · Issue #891

Core Scientific Doubling Mining Inventory

www.coindesk.com
North America’s largest crypto mining host, Core Scientific announced a purchase of 112,800 ASIC miners from Bitcoin doubling its current inventory of mining machines.

Market Data

BitDigest April 29 · Issue #891

Genesis has Record Breaking Quarter

www.f.hubspotusercontent00.net
Genesis provided a quarterly market snapshot reporting the digital asset exchange and lender originated $20 billion in new loans ($9 billion active as of March) and traded $31.5 billion in spot and $10.5 billion in derivates volume during the first three months of 2021.
BitDigest April 29 · Issue #891

Coinbase Executive Did Not Sell That Many Shares in the Direct Listing

www.blog.coinbase.com
📈Coinbase (NASDAQ: COIN) issued a blog post on the ongoing debate that executives at the company sold “the majority of their stock when [it was] listed on Nasdaq” on April 14th. The company attempted to provide “accurate and contextualized” information including a comparison that the 3.2% sale by Coinbase executives is below the 7.29% of shares sold in the direct listing by Palantir (NYSE: PLTR), 4.21% by executives at Roblox (NYSE: RBLC), and 4.18% at Slack (NYSE: WORK).

Exchange, Custody and Product News

BitDigest April 29 · Issue #891

Gemini Adding Support for New Tokens

www.gemini.com
Gemini is adding support for 6 new coins to its digital exchange:Somnium Space (CUBE), BarnBridge (BOND), Injective Protocol (INJ), Livepeer (LPT), Polygon (MATIC), and SushiSwap (SUSHI) with Ocean Protocol (OCEAN) being offered for custody, but not yet trading at this time.

Daily Cartoon

BitDigest April 29 · Issue #891

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