Tuesday, March 2, 2021

Blockchain bites: Universities gain bitcoin exposure as institutional ETH appetite increases – Coindesk

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Three stories

Looking for overstock Exit its blockchain related investments, Reported by Tanjil Akhtar of Koindesk. The online shopping giant that crypto-hype has done will now turn its blockchain-centric subsidiary Medici Ventures into a managed fund.

  • Overstock will remain as a limited partner, and if approved, the entrepreneurial company Pelion Venture Partners will lead with over el 45 million in funding. Overstock blockchain technology company TJERO Group will also maintain interest in direct minority equity.
  • Following the announcement, overstock shares (Nasdaq: OST) rose 11.28% in Monday’s pre-market session. Traded at 75.

Janet Yellen is the US 78th U.S. Secretary of the Treasury. Approved by the Senate on Monday, the former will be the Federal Reserve Chair Supervise a host of crypto-related rules on its plate in an office. This includes the Trump administration’s proposal to increase surveillance in the 11th hour Personal wallet. Which is the subject of controversial and perhaps illegitimate short comments Just stretched.

  • Yellen caused a stir last week after raising the issue. “Special concernAbout the link to the criminal activity of cryptocurrency. Although he did not speak at length about the industry, he did point out the potential for crypto to “improve the efficiency of the financial system.”
  • In fact regulators around the world are expressing irrational views about crypto, with Andrew Bailey, the governor of the Bank of England, saying that crypto (“originally made”) exists Failed as currency, But that digital innovation is here.
  • “We are right to debate the central bank, we will debate the central bank’s digital currency. I think these issues are in favor of occupying too much, ”he said in Davos.

Just as BoE’s Bailey did Crypto Co Crypto Snows, it’s important to note The way he is already wrong. Crypto works for payments, though it’s probably not the first choice in the plush “first world” economy. But it is powerful enough for those who are isolated from the financial system

  • For example, Anna Baidakova of Koindesk reports that Alexei Navalny, Vladimir Putin’s most vocal critic, has been raised. 657 BTC TC for grants in the last five years.
  • And otherwise we won’t forget about Julian Assange and the disgruntled WikiLeaks nonprofit. To date, WikiLeaks has received more than that 14 BTC, Other crypto grants are not being counted. Rachel-Rose O’Leary touched on the issue during the discussion Advances in Privacy Tech, The latest Kindesk op-ed.

Crisis

It’s all about Assignment

It was learned yesterday that Universities including several of the Ivy League, Done Silently buy bitcoin Directly to Coinbase for their achievement.

An unnamed source at Harvard, Yale, Brown and the University of Michigan who are believed to have bought it told Ian Allison of Coindesk. No university has confirmed the veracity of the rumors, with several agreeing to comment. It is unknown at this time what he will do after leaving the post BTC Holdings may occur.

Harvard and Yale have বিল 70 billion in assets, and the total endowment is estimated at Rs. . 600 billion As of 2017

“If I had heard it three years ago, I would have said it was wrong,” said Ari Paul, co-founder of Block Tower Capital and previously director of investment at the University of Chicago. “But a lot of companies are now comfortable with Bitcoin. They can understand it and only buy it directly, unless it is from a controlled entity like Coinbase, Loyalty or Anchorage. “

Kathy Wood, CEO of RK Investment Management Echoing this thinking, he said he would trust more companies Load up their balance sheet with Bitcoin. He told Yahoo Finance on Saturday that a number of executives from publicly traded companies had brought up the issue with him: Should we follow the square?

Square, a Fintech darling led by Twitter CEO Jack Dorsey, bought about 4,709 bitcoins in October. That initial $ 50 million investment is now roughly 150 150 million. Microstructure is probably the most visible public entity that treats its cash reserves as waste water and bitcoin like its baby (it will never throw away its BTC with a bath). It now contains a total of 70,784 bitcoins.

Rothschild Investment Corporation has also increased its bitcoin exposure, Another 24% are buying shares Grayscale Bitcoin Trust, published yesterday. The ৪ 1.4 billion investment manager is not directly holding Bitcoin and has long been tested for holding and reducing Bitcoin. (Both Coindesk and Grayscale are owned by the Digital Currency Group))

Interestingly enough, Danny Nelson of Queensdesk said a Canadian VR firm bought BTC as a “long-term” investment, but false rumors of a “double cost” of Bitcoin went public last week.

Institutional exposure is not limited to bitcoin as a legacy Financial institutions are interested in ether (ETH), The local currency of Etherium.

The 2020 annual report identified Coinbase as a “growing number” Institutional clients are positioned in Ether. “Case in point of ownership of Etherium [ether] “We often hear from our clients about its evolving potential as a value store and, secondly, its position as a digital product needed for power transactions on its network,” the report said.

Dennis Vinokourov, head of research at digital resources prime broker Bekant, told Muayo Shen, a market reporter at Koindesk, that buying some of these ETHs could be an indirect way to get in touch with decentralized money.

“Not everyone is comfortable with the risks involved with DFI yet, but the high growth of these projects encourages Ethereum network activity and thus supports capital,” he said.

In fact, the total value locked in all DFI protocols and applications hits a new high watermark Billion 26 billion Sunday, driven by appreciation of ether prices, according to Defipouls.

Market Intel

Bitcoin has dropped to several thousand dollars, Declining by about 7% per day, brings with it a larger crypto market. Omkar Godball of Koindesk reported that some The 4 4 ​​billion BTC option has expired Friday. It is expected that Exchange Derivatives, the largest crypto option, will set a new record of 102,162 contracts, ending at about $ 3.5 billion.

  • “More than 60% of the derivative-based January open interest is set to be meaningless or useless out of money,” Godbol notes. This is likely to cause unrest by the end of the month, as traders hedge their positions. He It breaks down here.

Quick bite

  • Beach-front sandbox: Hawaii’s Digital Currency Innovation Lab is accepting applicants. (Coindesk)
  • Hybrid Mining: An American man turned his BMW into a mine. (Coindesk)
  • Be aware: Substacks are being used to spread crypto scams. (Coindesk)
  • Multiple Money: “It’s 2026 and the central bank, the big tech companies and the ‘declining’ are establishing their own world of digital money,” Marcel 0 Prats researched. (Coindesk op-ed)
  • Wired: The Starr Foundation invests 5 million in a blockchain payment firm. (Coindesk)
  • Bakalva for Bitcoin: Decrypt Interview with an OG Bitcoin retailer.
  • Mining Token: Five large bitcoin miners tokenize their hashtags on BTTST (Modern sens reduction)
  • NFT Liquidity: Is it a problem? (Jake Brookman – The Mirror)
  • Star signal? Casey Newton in the battle inside the signal. (Platform)
  • Taking big strategies: With bitcoin technology. (NYT)
  • Hyperventilating controller? Lloyd Blankfein, CEO of Goldman Sachs, has moved to Bitcoin. (CNBC)

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