Rothschild Investment Corporation increases stake in GBTC as institutional adoption grows

Rothschild Investment Corporation, a leading Chicago-based financial institution founded in 1908, has invested heavily in Grayscale’s Bitcoin Trust, according to a Monday morning filing with the United States Securities and Exchange Commission, or SEC. Rothschild reported owning 30,454 shares of GBTC as of Dec. 31, 2020, according to Form 13F-HR, also known as the institutional manager holdings report. In its October filing, the firm reportedly owned 24,500 shares. BTC institutional watch: In a filing this morning with the SEC, Rothschild Investment Corporation, founded in 1908, reported owning 30,454 shares of…

Ripple ran crypto’s most expensive lobbying program in 2020

Ripple Labs spent $690,000 on lobbying in the United States in 2020, which still didn’t save the firm from the Securities and Exchange Commission. Per legally mandated disclosures for 2020, Ripple’s lobbying program dwarfed those of other firms in the crypto industry. Coinbase, which looks to become the first American crypto exchange to issue public shares, spent $230,000 over the same year, while other exchanges like Binance.US, Gemini and Kraken did not report any spending on lobbying. Ripple’s spending on lobbying is, however, relatively paltry compared with the giants of…

It’s time to put the dukes down and work together for blockchain’s future

Humans over the centuries found themselves quarreling with each other over everything from food to land to ideology, only to later find themselves at peace and cooperating. Later, once more, they’d return to draw arms. Great schisms between Catholicism and Eastern Orthodox Christianity later repeated with the Protestant–Catholic wars of the 17th century, until peace finally settled upon the parties centuries after they’d begun. Fast forward 400 years, and it’s clear that technology has done nothing to curb our tribal instincts. If anything, the rise of blockchain has magnified these…

Bitkub submits improvement plans to Thai SEC and resumes trading

Bitkub, Thailand’s largest cryptocurrency exchange, resumed its services on Jan. 23 following a brief period of shutdown enforced by the country’s Securities and Exchange Commission.  The shutdown followed a number of brief service outages which occurred due to large spikes in traffic when the price of Bitcoin (BTC) broke 1 million Thai baht ($33,340) earlier this month. The psychologically significant figure brought a huge influx of new investors to the site, which struggled to cope with the volume. The SEC ordered the exchange to cease activities and revise operational procedures to…

More institutional adoption as Marathon Patent Group purchases $150M in Bitcoin

Nevada-based crypto mining firm Marathon Patent Group has invested $150 million in Bitcoin as a reserve asset. Marathon announced today that it has purchased more than 4,812 Bitcoin (BTC) for $150 million through the New York Digital Investment Group — an average price of $31,168 per coin. CEO and chairman Merrick Okamoto said the move was “a better long-term strategy than holding US Dollars,” comparing the Bitcoin purchase to companies like MicroStrategy, the business intelligence firm that made an initial $425 million crypto investment last year and has since bought…

Why traders say Ethereum may see a ‘rinse’ pullback after breaking its two-year high

Several traders believe that the price of Ether (ETH) could pull back after it achieved a new all-time high on Jan. 25, gaining nearly 100% in January. Ether has outperformed Bitcoin (BTC) so far this year, buoyed by the growing number of users on Ethereum. Primarily due to the growing demand for DeFi, the Ethereum network has seen an increase in user activity and transaction volume. ETH/USDT 15-minute price chart (Binance). Source: TradingView.com This has also led the popularity of the term “Ethereum” to increase significantly on Google Trends, breaking its previous…

Grayscale donates $1M to Coin Center, pledges up to $1M more in matched contributions

Grayscale Investments, the world’s largest digital-asset manager, has pledged $1 million to Coin Center, Washington, D.C.’s most influential cryptocurrency advocacy group — a move it believes will help broaden “foundational knowledge” of the industry. The million-dollar donation was announced Monday in a press release, which also revealed Grayscale’s plan to match contributions to Coin Center through the end of February. Over that period, Grayscale plans to match donations dollar-for-dollar up to an additional $1 million. Grayscale got the inspiration for the donate-and-match program from Kraken, the San Francisco-based exchange that…

Blockchain-aided voting trials to begin in India

Trials of blockchain-aided voting in India which would enable voters to post ballots from outside their home provinces are to begin soon. Chief Election Commissioner Sunil Arora said that research using the cutting edge technology had already started and that mock trials were to be launched in the very near future, as reported by The Wire. India’s Election Commission worked alongside researchers from the Indian Institute of Technology Madras in creating a secure way to verify identities and enable voting from far-flung regions of the country, and beyond. On the same…

Bitcoin price looks to resume bull cycle after rising above $34K

Bitcoin (BTC) has been consolidating since the recent all-time high at $42,000 and has risen back above $34,000 at time of writing. The current correction is currently at 30% already, as Bitcoin’s price has bounced from the $30,000 region several times. However, it remains to be seen whether Bitcoin’s price will start accelerating once again or whether BTC price needs more consolidation to build-up strength. Several periods of accumulation were seen in 2020, where Bitcoin’s price ranged for a period of a few months. Such a period is, in fact,…

ConsenSys partners with China’s Blockchain-based Service Network

ConsenSys, one of the world’s largest blockchain software companies, has partnered with the Blockchain-based Service Network, a Chinese government-backed nationwide blockchain project, As part of the partnership, ConsenSys’ Ethereum-based distributed ledger protocol ConsenSys Quorum will be featured on the BSN ecosystem, the firm announced on Jan. 25.  The protocol will be available in 80 different cities through BSN’s public city nodes across mainland China. ConsenSys director Charles d’Haussy told Cointelegraph that ConsenSys Quorum will be available in all major cities and provinces including Beijing, Xiong’an and Hangzhou. ConsenSys’ GoQuorum —…