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The Crypto Industry is the Next Multi Trillion-Dollar Opportunity, Says Early Coinbase Investor

Notable tech investor Ron Conway called the crypto industry ”the next multimillion-dollar opportunity in innovation.” On the day when Coinbase’s (COIN) shares officially started trading, Conway opined that the crypto sector is quickly growing, but it is just getting started. Coinbase – ”The Google For The Crypto Economy” Ron Conway, an early investor in the largest U.S. cryptocurrency exchange along with popular corporations like Airbnb, Facebook, and Google, spoke about the future of crypto in an interview on CNBC’s ”TechCheck.” He described it as ”the next multimillion-dollar opportunity in innovation.” Conway expressed high hopes that the sector is quickly growing…

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The Grayscale Bitcoin Trust on Track to Surpass the Largest Gold ETF: Bloomberg

The Grayscale Bitcoin Trust is on route to surpass the largest gold-tracking ETF in the following few months, suggested Bloomberg’s senior commodity strategist, Mike McGlone. The analyst also outlined the ongoing digitalization phase as the primary reason behind BTC’s success. GBTC on its Way to Surpass SPDR Gold Shares McGlone took it to Twitter to exemplify Bloomberg’s views on the performance of the two largest bitcoin and gold funds in the past year and the projections for the next several months. Founded in 2004, SPDR Gold Shares (GLD) is the gold-tracking exchange-traded fund with the most significant AUM with over…

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The Investor Who Turned $300 Million to $2.4 Billion Investing in Coinbase

Just a day after its official public listing, Coinbase is already creating multi-billion-dollar success stories. The popular angel investor and founder of Initialized Capital, Garry Tan, told his story in which he turned a $300,000 invested in Coinbase upon the company’s launch into $2.4 billion. Tan’s Initial Story with Armstrong and Coinbase Long before Coinbase became the US’s largest crypto exchange and be valued at about $100 billion, Brian Armstrong’s brainchild had a more modest start. In fact, it even had a different name – Bitbank. Tan’s story began after receiving an email from Armstrong in which the latter said…

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AgeUSD to Launch as First Stablecoin on Cardano Network

Multinational blockchain technology company Emurgo initially announced the AgeUSD stablecoin in January 2021. The firm has since announced a partnership between the Ergo Foundation, Emurgo, and Charles Hoskinson’s Input-Output Global, the parent company of IOHK. The AgeUSD stablecoin will be available on Cardano as soon as smart contract capabilities are launched on the blockchain, it revealed. Do We Need Another Stablecoin? Emurgo is aiming to prevent events like MakerDAO’s Black Thursday which emerged through vulnerabilities in its Dai collateralization mechanism. A mass liquidation of the vast majority of Maker vaults resulted in around $4 million in Dai being under-collateralized at…

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FIFA World Cup Champion Pelé NFT Collection to Drop on Ethernity Chain

The sector of non-fungible tokens has reached the living soccer legend, Pelé. The Brazilian will have his own NFT collection honoring his legacy, dropping on May 2nd on the popular Ethernity Chain platform. 90% of the proceeds will be donated to the Pelé Foundation. Pele’s Legacy to Live as NFTs Edson Arantes do Nascimento, better known in the soccer world as simply Pelé, is the latest celebrity to embrace the rapidly growing world of non-fungible tokens. According to a press release shared with CryptoPotato, the three-time FIFA World Cup winner will have his illustrious career immortalized on the blockchain-based NFT…

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Dogecoin Market Cap Surpasses Cardano And is Now Top 5: The Community Reacts

Dogecoin is where all the rage is in the cryptocurrency market throughout the past 24 hours. DOGE is up almost 200% in the past day and almost 500% in the past week. With the latest surge, it has also managed to become the 6th largest cryptocurrency by market capitalization, surpassing Cardano’s ADA. Dogecoin Now Bigger Than Cardano As CryptoPotato reported earlier, the popular meme coin, DOGE, made headlines by painting a fresh all-time high at around $0.30. While this, in itself, was more than impressive what followed was downright astonishing. After a slight retrace, DOGE took off for the skies… again. At…

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CNBC’s Jim Cramer Used Bitcoin Profits to Pay Off a Mortgage

Jim Cramer, the host of CNBC’s Mad Money, has disposed of half of his bitcoin holdings and used the substantial profits to pay off his mortgage. Although he classified this conversion as “phony money for real money,” the crypto community was quick to criticize his actions. Cramers Pays Off Mortgage with BTC Profits CNBC’s host has a somewhat controversial history with the primary cryptocurrency. He went from calling it an “outlaw currency” back in 2018 to highlighting and praising its benefits following the COVID-19 pandemic. Just earlier this week, Cramer seemed to had fully-embraced BTC as he said he would…

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$600 Million in BNB Gone: Binance Completes the 15th Token Burn

Binance announced the completion of the 15th BNB burn earlier today of just shy of 1.1 million tokens. Although the amount in coins has substantially declined compared to the past several such events, it set a record in terms of USD with almost $600 million.  The announcement from the Malta-based cryptocurrency exchange from earlier today reads that the company has completed the 15th quarterly BNB token burn “in accordance to the Binance whitepaper.”  The amount of coins destroyed is 1,088,888. Interestingly, this is actually the fourth-smallest amount burnt in terms of BNB and is considerably less than the previous event…

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Turkey to Ban Cryptocurrency Usage as Payment Instruments From April 30

Turkey’s government has introduced a new regulation that will prohibit cryptocurrency assets from being used as payment methods as of April 30th, citing significant risks. Nevertheless, banks are excluded from the legislation, meaning that users can still deposit the Turkish Lira on crypto exchanges through their banking accounts. Turkey’s Ban on Crypto Usage as Payment Methods According to the official statement from the Central Bank of the Republic of Turkey, the country plans to implement a new regulation on interacting with cryptocurrencies starting from April 30th. Essentially, it will prohibit cryptocurrency investors from utilizing their holdings as instruments for payments…

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Cathie Wood’s Ark Funds Now Hold Over One Million Coinbase Shares 

Cathie Wood’s Ark funds has purchased a total of $352 million worth of Coinbase shares, two days after making its debut on the Nasdaq stock exchange under the ticker, COIN.  Ark Funds’ COIN Acquisition Spree Citing data received by email, Bloomberg reports today that Wood’s funds, including the Ark Innovation ETF, Ark Fintech Innovation ETF, and Ark Next Generation ETF together added 341,186 COIN to their holdings yesterday.  This is the second investment in a roll that Wood’s Funds have made in Coinbase. Ark’s funds earlier purchased 749,205 Coinbase shares moments after it went live on Nasdaq. The shares were…

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Dogecoin at $0.3 After 100% Surge Today: DOGE Now Top 8

There are no boring days in crypto. Today, the popular meme coin DOGE skyrocketed to new a new ATH at $0.3. With its mind-blowing surge, Dogecoin became the eighth largest crypto by market cap and surpassed giants like Motorola and Delta Airlines by that metric.  Dogecoin has always been able to grab people’s attention, and the past week or so is no exception.   DOGE traded at $0.06 on April 10th but, and there’s no other word to explain this better, exploded in value in the following six days.  To be more precise, DOGE’s price skyrocketed by 400% in this timeframe…

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European Hedge Fund Brevan Howard to Invest $84 Million In Cryptocurrencies

It should be no surprise that more traditional corporations join the crypto fever by investing in bitcoin or adopting blockchain technology. Brevan Howard, a European hedge fund, is the latest asset manager to join the movement. Bloomberg reported that the asset manager is preparing to invest $84,000,000 in digital assets, representing 1.5% of its $5.6 billion hedge fund. Jonny Steindorff and Tucker Waterman, co-founders of crypto investment firm Distributed Global, will oversee the initial allocation. Betting on Several Cryptos According to a person familiar with the matter, the fund will have a diverse portfolio by focusing on several crypto assets…

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Ripple’s CTO Only Has 2% of His Bitcoins Left

Ripple’s CTO, David Schwartz, has been gradually offloading his bitcoin position for years and is currently left with about 2% of his entire stack. During a recent Twitter threat, he outlined the significance of taking profits while blasting the narrative that investors can’t lose money if they don’t sell during a bear market. Ripple’s CTO Remaining BTC Holdings Schwartz took it to Twitter today to explain his views on a famous saying in the investment community indicating that people can’t lose money if they don’t sell the underlying asset when it price dips. However, he classified it as “nonsense” that…

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Crypto Can Become a Great Asset Class, Says BlackRock CEO

Despite lacking sufficient institutional demand from its clients, BlackRock’s CEO, Larry Fink, outlined the potential of the cryptocurrency industry, which could become a “great asset class.” He further asserted that crypto investors should not treat digital assets as a substitute for traditional currencies. BlackRock’s CEO Fascinated by Crypto Ever since the start of the current bull market in late 2020, the world’s largest asset manager, BlackRock, has been frequently connected to various cryptocurrency initiatives. Recent reports highlighted the entity’s first investment dip into the bitcoin world by purchasing a portion of CME March 2021 BTC futures contracts and realizing $360,000…

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Ethereum’s Berlin Hard Fork is Live but Sync Issues Are Reported

In another step towards reducing the high fees on its blockchain, Ethereum’s latest upgrade, dubbed Berlin, has already come into effect. The hard fork arrives with four Ethereum Improvement Proposals (EIPs), but many users have complained about network errors. Berlin Hard Fork is Here for Ethereum The high utilization of the Ethereum blockchain, being the predominant underlying technology of DeFi, NFTs, and having numerous stablecoins on top of it, caused several network issues. The transactions have experienced severe delays, while the gas costs (read fees) have skyrocketed to new highs, as reported recently. To fight these unfriendly consequences, Ethereum’s developers…

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PayPal’s Crypto Service Could Reach $200 Million in Volume in a Few Months, Says CEO

Speaking at a conference with several crypto-friendly corporations, PayPal’s CEO Dan Schulman revealed that the company is looking to expand its crypto-services as digital currencies take a leading role in the financial system. Schulman joined the “2021 Blockchain 50 Symposium: Crypto Goes Corporate“, together with dozens of executives from the technological and financial space, including Michael Saylor from MicroStrategy Cuy Sheffield, Head of Crypto at Visa. Less Cash, More Inclusion Speaking to the assistant director at Forbes, Michael del Castillo, Schulman noted that the current financial system lacks the innovation and inclusion that the crypto assets can provide. He gave…

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Societe Generale Issues a Security Token on the Tezos Blockchain

The third-largest bank in France, as well as one of the leading banks in the whole world, Societe Generale, has issued its first structured product as a security token. The bank has chosen Tezos’ blockchain as the underlying network. Following the first covered bond security token issuance for 100 million euros on Ethereum’s blockchain back in April 2019, Societe Generale issued its first structured product as a security token registered on the Tezos public blockchain. According to a press release shared with CryptoPotato, the securities have been fully subscribed by Societe Generale Assurances. Per the release, the “transaction completes a new step…

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Grayscale Total Assets Value Soars Above $50 Billion Following the Recent Bitcoin ATH

Top-tier digital assets manager Grayscale has seen an increase in the value of its total AUM (Assets Under Management) to above $50 billion as bitcoin’s price marked a new all-time high recently. The Grayscale Bitcoin Trust (GBTC) is now worth over $41 billion, while the Ethereum Trust (ETHE) holds over $7.4 billion. The Road to $50B As reported, Grayscale added five new tokens to its list of trust offerings, including Chainlink (LINK), Basic Attention Token (BAT), Decentraland (MANA), Filecoin (FIL), and Livepeer (LPT). According to the firm, this integration came shortly after seeing a large inflow of clients demanding exposure…

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Cardano Prepares for Plutus Powered Smart Contracts

Cardano has released more details on Plutus, it’s native programming language that will be used to write smart contracts after its next major upgrade, Alonzo. In a blog post on April 13, IOHK – the firm behind Cardano – explained that Plutus contracts consist of parts that run on-chain and parts that run on a user’s machine off-chain. It added that both parts are actually written in the Haskell programming language but are compiled by Plutus which provides the framework for smart contracts on Cardano. Bitcoin Inspiration Just like Bitcoin, Cardano uses the UTXO (unspent transaction output) model where the…

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The Message Coinbase Embedded in Bitcoin’s Blockchain on Listing Day

Paying homage to Satoshi Nakamoto and his message embedded in the Bitcoin Genesis Block in 2009, Coinbase has done the same today. On the day they’re set to become a publicly traded company, the exchange asked a large Bitcoin mining pool to embed a note in the Bitcoin blockchain in regards to the latest stimulus bill.  When launching the Genesis Block of the first-ever cryptocurrency in January 2009, the anonymous creator(s) embedded the following message referring to the financial crisis at the time:  “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.”  More than twelve years later, Coinbase…

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