Canada’s first public Bitcoin fund hits $1 billion

Canadian regulated digital asset manager 3iQ has recorded another massive milestone of its public Bitcoin (BTC) fund. On Jan. 14, 3iQ’s Bitcoin Fund (QBTC) hit the $1 billion mark, the company announced on Twitter. The new milestone demonstrates QBTC’s parabolic growth after 3iQ launched the fund in April 2020. QBTC is now up 900% from its previous milestone of $100,000 recorded in October 2020. As previously reported, 3iQ’s QBTC is Canada’s first public Bitcoin fund listed on a major stock exchange, the Toronto Stock Exchange. Cameron and Tyler Winklevoss’ Gemini…

Minerals giant Norilsk Nickel joins Responsible Sourcing Blockchain Network

“Mining” may be most frequently used in the crypto industry to refer to the process by which digital currencies are collectively generated — but there are contexts in which firms are adopting blockchain infrastructure to manage the most physical of mining supply chains. The Russian company Norilsk Nickel — the world’s largest producer of palladium and high-grade nickel and a large producer of platinum and copper — has joined an initiative called the Responsible Sourcing Blockchain Network, according to an announcement published on Jan. 14. The Responsible Sourcing Blockchain Network, or RSBN,…

Crypto anti-terrorism bill introduced in the US House of Representatives

U.S. Representative Ted Budd (R-NC) has sponsored a new piece of legislation aimed at creating an agency tasked with combating the use of cryptocurrencies in terrorist financing. The bill — H.R. 296 — is co-sponsored by Reps. Warren Davidson (R-OH), Stephen Lynch (D-MA), Byron Donalds (R-FL), and Darren Soto (D-FL) and was introduced on Wednesday. Apart from creating the task force, the bill also seeks to: “Provide rewards for information leading to convictions related to terrorist use of digital currencies, to establish a Fintech Leadership in Innovation and Financial Intelligence…

China’s blockchain project BSN to pilot global CBDC system in 2021

The Chinese national blockchain project, the Blockchain Service Network, is planning to pilot integration with global central bank digital currencies. According to a Jan. 15 blog post, the BSN is looking to build a universal digital payment network, or UDPN, based on CBDCs of various countries as part of its 2021 roadmap. Currently at the design stage, the beta version of UDPN is expected to launch in the second half of 2021. The BSN plans to complete the UDPN development in five years. With the UDPN, BSN aims to enable…

CBDC a ‘very high priority’ to combat bad private sector money

Cryptocurrency stablecoins could become systemically important overnight, says United States Federal Reserve Chairman Jerome Powell, and that’s why the Fed is determined to get its own central bank digital currency right. CBDCs are the banking industry’s answer to cryptocurrency stablecoins. While they are often hosted on the blockchain, they share little in the way of philosophical parity with their decentralized counterparts. CBDCs will be overseen by the banks that issue them and will be regulated under the laws of their respective jurisdictions. Speaking in an interview with Yahoo Finance, Powell…

Liquidators seek expanded probe of alleged South African Bitcoin scheme

Less than a month after a Cape Town High Court granted a provisional order of liquidation against Mirror Trading International, the liquidators are seeking expanded powers to investigate the company and recover investor funds. According to Herman Bester, one of the four appointed liquidators, the team needs to operate across multiple jurisdictions to ascertain the full scope of MTI’s operation. The liquidators are currently attempting to trace all the company’s assets. After this process, the team will submit a formal report to the court indicating the likelihood of successfully returning…

How a Small German Firm Brought FAANG Stocks to Crypto

Key Takeaways Bittrex and FTX exchange recently began listing popular American equities on their platform thanks to a “passportable” licensing software. Tokenizing Tesla, Facebook, Google, and Apple stocks opens up wholly new markets much like the arrival of CFD brokers in traditional finance. CM-Equity’s software lays the groundwork for future innovations such as crypto-equity index products as well as unique trading pairs. Share this article Cryptocurrency markets have revealed the power of global, never-sleep financial markets. The low barrier to entry has also boosted digital assets’ mass appeal. A small…

Tor-enabled Bitcoin nodes are back after bug on network

According to the latest data from node monitoring resource Bitnodes, Tor-enabled Bitcoin (BTC) nodes are back to normal following almost a full-swing crash in early January 2021. As of Jan. 13, the number of reachable Tor-based BTC nodes amounted to 2,581, up from as few as 122 nodes on Jan. 9. Based on Bitnodes data, Tor-enabled Bitcoin nodes make up a significant part of the Bitcoin network, normally accounting for about 25% of totally reachable running nodes. According to the latest recorded data, Tor-based nodes made up over 23% of total…

After Ethereum, ‘next stop will be higher risk alts,’ says Bitcoin investor Raoul Pal

As the cryptocurrency market is showing signs of bullish continuation on Jan. 15, Raoul Pal, the CEO of Real Vision Group and an avid Bitcoin (BTC) investor, is optimistic about the price of Ether (ETH). Pal  also says he’s looking to add “higher risk alts.” ETH/USDT 4-hour price chart (Binance). Source: TradingView.com Is an altseason coming? Following Bitcoin’s rally above $42,000, many alternative cryptocurrencies, or altcoins, have indeed performed strongly, which is historically in line with altcoins performing well in Q1.  The rally of altcoins has in part been led by…

Galaxy enters Bitcoin mining, launches financial services unit for miners

Galaxy Digital — the financial services and cryptocurrency investment management firm founded by Mike Novogratz — has set its sights on establishing a footing in the Bitcoin (BTC) mining sector. After a year of increasingly diversifying its products and activities, the company has announced two new forays into the Bitcoin mining sector for 2021. The first project will be a new business unit that Galaxy describes as “a one-stop financial services platform for miners.”  Dubbed Galaxy Digital Mining, the unit is being led by Amanda Fabiano — formerly the director of…