Crypto startup Amber Group raises $530 million AUM as institutions, retail arrive

The crypto-finance service provider tells Cointelegraph that its assets under management, or AUM, reached $530 million in 2020, representing a 275% increase from the previous year. Over 500 institutions have contributed to Amber’s suite of investment products, which includes fixed-income, yield enhancement and margin trading. Although institutions were the main driving force behind Amber’s initial growth, especially among financial managers, family offices and other high net-worth clients, its retail-facing business has also seen significant uptake. The Amber App, which launched in September, has attracted over 35,000 sign-ups at the time…

ETH price sets new all-time high, gains financial momentum to go further

While Bitcoin has exhibited a stagnating monetary trend over the course of the last week or so, showcasing minor gains of just 3%, its crypto cousin Ether (ETH) seems to be on a roll by not only holding its own against the U.S. dollar but also consistently floating around the $1,300 threshold, and now ultimately, briefly surpassing the all-time high value of $1,428. It’s interesting to note that unlike Bitcoin (BTC), Polkadot’s DOT and Chainlink’s LINK, as well as a host of other decently sized altcoins, ETH is one of…

New ‘market fear’ index lets traders bet on crypto volatility

COTI, a blockchain-powered fintech startup, has launched a new cryptocurrency index enabling traders to profit from the market volatility. The new Crypto Volatility Index, or CVI, brings the traditional “market fear index” to the crypto market, allowing users to deposit and open positions with Tether (UDST). Gibraltar-based COTI explained that the new index allows traders to open CVI positions for high and low volatility. “Users who expect volatility to increase can open a CVI position. If correct, they can take profit by selling their position once the index has risen,”…

Bank of France settles $2.4M fund in central bank digital currency pilot

The Bank of France successfully piloted a central bank digital currency — or CBDC — experiment in December, using the technology to settle monetary fund shares on a private blockchain platform for the first time. As announced by Le Banque de France on Jan. 19, the pilot commenced on Dec. 17, and saw 2 million euros ($2.4 million) worth of simulated shares purchased and sold by investors using a CBDC. The pilot took place with distributed ledger technology provided by SETL — a UK-based regulated blockchain services provider, which also…

Dubai financial regulator working on regulations for cryptocurrencies

The Dubai Financial Services Authority, the financial regulatory agency for the special economic zone, the Dubai International Financial Centre, is looking to enhance local cryptocurrency-related regulations. The DFSA is planning to introduce a regulatory framework for diverse digital assets as part of its 2021–2022 business plan released on Jan. 18. According to the DFSA, the upcoming crypto framework will further expand the DFSA’s regulation of digital asset issuers and associated trading platforms. The framework will include a number of digital asset types like tokenized securities and cryptocurrencies like Bitcoin (BTC):…

Bible quotation found in Bitcoin block number 666,666

A hidden Biblical message has been found embedded in a transaction in block number 666,666 of the Bitcoin (BTC) blockchain. The message is a quotation from the sixth book in the New Testament, the Epistle to the Romans. First spotted by @emzy@bitcoinhackers.org, it reads: “Do not be overcome by evil, but overcome evil with good – Romans 12:21.” Biblical reference in Bitcoin block 666,666. Source: Bitcoinhackers.org The transaction in question saw an equal amount of Bitcoin — 432,100 satoshis ($160) — sent to two different addresses. The first several characters…

‘Pay attention’ — Grayscale adds 18x the Bitcoin mined supply in one day

Asset manager Grayscale added 18 times more Bitcoin (BTC) than miners added to the supply in just one day on Jan. 18. As various data sources confirm, Grayscale, which remains the biggest institutional buyer in the Bitcoin space, purchased a total of 16,244 BTC ($607 million) on Monday. BTC buys accelerate again The giant sums are some of the biggest on record and are an order of magnitude above what even Grayscale was attempting just last week. The company previously saw daily buys but stopped over the holiday period and…

Why Pakistan and the Middle East can bet on crypto mining

It is especially important for countries to become more aware of cryptocurrencies, especially with components like decentralized finance rising in prominence. Now that the Middle East is becoming more mining-friendly, the future suddenly looks bright once again for this region. Pakistani administration legalizes crypto mining The Pakistani government appears to be moving quickly toward a pro-crypto stance. Following a commitment to integrate Bitcoin (BTC) into its financial system last December, the country is taking steps to legalize mining. Sumera Shams, a member of the provincial assembly in Khyber Pakhtunkhwa, announced…

Ethereum price inches closer to a new all-time high as Bitcoin consolidates

Bitcoin (BTC) continues to trade in a tightening range within a pennant pattern and while the price has moved above the 20-day moving average, it’s clear that the bulls and bears are fighting over the direction the digital asset will take.  Data from Cointelegraph Markets and TradingView show that BTC traded in a range between $34,955 and $37,850 over the weekend but traders buying each dip appear to be doing so with less bullish conviction. Daily cryptocurrency market performance. Source: Coin360 JPMorgan research analyst Nikolaos Panigirtzoglou recently stressed the importance…

Four of the top 70 crypto assets by market cap are Bitcoin

Tokenized Bitcoin is booming, with the increasing demand from DeFi combined with BTC’s recent meteoric price rise has resulted in three Bitcoin tokenization protocols ranking among the 70 largest crypto markets. According to popular market data aggregators CoinGecko and CoinMarketCap, Wrapped Bitcoin (WBTC) currently ranks as the 13th-largest market boasting a capitalization of $4.04 billion, with roughly 0.6% of Bitcoin’s supply currently locked in the protocol. Huobi BTC (HBTC) ranks 56th with a market cap of $660 million, followed by the 63rd-ranked renBTC (RENBTC) with a capitalization of $510 million.…